UAE’s global investments grow amid economic crisis
"The UAE has strengthened its position in the global economy. The total value of UAE assets abroad, whether government or...Economy
Passenger air traffic has surpassed pre-pandemic levels: ICAO
Montreal, Canada--The International Civil Aviation Organisation (ICAO) projected that passenger air traffic levels will be around 2 percent higher In...Economy
EITC posts Q1 revenue at $936m
Revenue is due to demand for fixed, mobile services.The prepaid customer base of EITC increased to 6.7 million, driven by the continued attractiveness of Flexi plans and brisk tourism activity.
EITC's commercial initiatives led to a 9.4 percent increase in mobile customers, with 8.2 million subscribers at the end of the quarter.
Guarantee security for Sudan aid deliveries, asks UN
The United Nations called for security guarantees at "the highest level" to ensure aid deliveries in Sudan, after trucks carrying...UN's top humanitarian official said the global body had a plan for delivering aid and supplies to address the dire situation in Sudan.
UN's top humanitarian official said, "We will need to have agreement at the highest level and very publicly".
MENA region’s growth may decelerate this year: IMF
Oil exporters are set to experience slower growth due to a shift from oil to nonhydrocarbon activities, says Jihad Azour,...Oil exporters are set to experience slower growth due to a shift from oil to nonhydrocarbon activities, says Jihad Azour, Director of IMF's Middle East and Central Asia Department
Growth in the region's emerging markets is also expected to fall from 5.1% in 2022 to 3.4% in 2023 due to tighter monetary and fiscal policies, suggests the latest IMF report
258m people require food aid, says UN report
PARIS, FRANCE -  Some 258 million people needed emergency food aid last year because of conflict, economic shocks and climate disasters,...In 2022, 258 million people faced high levels of acute food insecurity in 58 countries or territories, a UN report said.
Over 40 percent of those lived in Democratic Republic of the Congo, Ethiopia, Afghanistan, Nigeria and Yemen, the report added.
Iran seizes oil tanker in Strait of Hormuz, says US Navy
Iranian forces seized a Panama-flagged oil tanker in the Strait of Hormuz, the US Navy said, the second such incident...A dozen Iranian Navy fast-attack craft swarmed the vessel in the middle of the strait, said a statement from the Bahrain-based US Fifth Fleet.
The troubled but commercially vital Gulf waters, which carry at least a third of the world's seaborne oil, have witnessed a spate of incidents since 2018.
Young Palestinians in Lebanon dream of a future abroad
Tiny Lebanon hosts an estimated 250,000 Palestinian refugees, according to UNRWA, the UN agency for Palestinian refugees, while almost double...Most Palestinians, including more than 30,000 who fled the war in neighboring Syria after 2011, live in one of Lebanon's 12 official camps
In Lebanon, Palestinians' denied right to own property further complicates employment and income generation activities, said director of UNRWA
Radisson eyes bigger share of Middle East hospitality sector
Dubai, UAE-- Seeking to take advantage of the boom in the Middle East's hospitality sector, Radisson Hotel Group will triple...The hotel group plans to have 150 properties across the Middle East by the end of the decade, from its current portfolio of 52 hotels in the region
It will open seven properties across Saudi Arabia in 2023 as its intends to capitalize on the surge in religious tourism in the kingdom
As Israel celebrates 75th anniversary, its economy presents a dichotomy of success and inequality
A country that describes itself as a "start-up nation" now boasts of higher per capita GDP than many European countries....Growth in Israel was 6.5 percent in 2022, down from 8.6 percent in 2021 but well above the OECD average of 2.8 percent, and the budget deficit largely contained
Israel's cyber security work has made the sector one of economy's driving forces, with companies such as Check Point establishing themselves as global leaders in IT security
Beema’s Q1 profit soars
The firm recorded a jump in the net profit to US$3.73mn.In 2022, Beema achieved gross written premiums of $108 million, an increase of 6.8 percent from 2021
It reported a total shareholders' income of $28.46 million and a total shareholders' profit of $15.54 million in 2022
Iran’s president visits Syria for first trip since war
Preparations for Raisi's visit have been underway for days in the Damascus district housing Iran's embassy, with concrete barriers in...The visit comes just weeks after Iran's landmark agreement to restore ties with regional rival Saudi Arabia and amid a flurry of diplomacy in the Middle East
Raisi and Assad would discuss "bilateral ties, shared economic and political issues, and positive developments in the region", Syria's state news agency said
