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AviLease acquires 9 aircraft from Avolon

AviLease had purchased 13 aircraft from Avolon in 2023.

ADNOC L&S to pay $136.5m dividend

This is equivalent to 6.78 fils per share, the company said.

‘TAQA’ prices $1.75bn dual tranche

The 12-year senior unsecured notes are sized $850m.

Samsung says planning job cuts

The layoffs could affect about 10 percent of the workforce.

GM reports US sales dip, that of EVs grew

The big Detroit automaker reported 659,601 US sales during the period.
  • Kuwait elects new parliament dominated by opposition

    Lawmakers from opposition won 29 of the 50 seats up for grabs in the election, according to results announced by...

    According to the Kuwait Transparency Society, an NGO, turnout touched 50 percent one hour before polls closed, which is lower than last year's voter turnout of 63 percent

    Janan Bushehri. the only female member to be elected in the new parliament, said that she expected it to seek stability and make progress on economic or political issues

  • China firms under sanction by US for assisting Iran missile program

    WASHINGTON, US- The United States placed sanctions on Tuesday on several Chinese and Hong Kong firms it said were supplying Iran's...

    The US Treasury said the Chinese companies shipped centrifuges for producing fuels, non-ferrous metals with potential military use.

    Washington is concerned that Iran plans to develop nuclear weapons that could be loaded on ballistic missiles to menace Israel.

  • Italian PM says making efforts for Tunisia IMF bailout

    Italian Prime Minister Giorgia Meloni said Rome backed efforts to secure an IMF bailout for Tunisia and support to tackle...

    The IMF has called for legislation to restructure over 100 state-owned firms, which hold monopolies over many parts of the economy.

    Tunisia is struggling under crippling inflation and debt estimated at around 80 percent of its gross domestic product.

  • Iran reopens embassy in Saudi Arabia, confirming China-brokered detente

    "We consider today an important day in the relations of the Islamic Republic of Iran and the Kingdom of Saudi...

    The Iranian mission resumes in its former premises in Riyadh's diplomatic quarter -- near Syria's embassy is also expected to reopen soon following Saudi outreach to Damascus.

    In March, Iran and Saudi Arabia agreed to restart their respective embassies and work towards resuming ties, after Riyadh in 2016 broke off relations following Iranian protests.

  • World Bank lowers MENA’s growth forecast to 2.2 percent in 2023

    DUBAI, UAE - The World Bank raised its global growth forecast for 2023 to 2.1 percent (in June 2023) from...

    The World Bank expects global growth to reach 2.4 percent in 2024, compared to 2.7 percent in January 2023.

    The possibility of widespread banking disruptions and tighter monetary policy may also lead to weaker global growth.

  • Egypt, Israel vow cooperation after deadly border skirmish

    Speaking at the opening of a cabinet meeting on Sunday, Netanyahu said his government had sent a "clear message" to...

    President Sisi i received a telephone call from Netanyahu about Saturday's deadly violence on the normally calm border.

    Egypt has said the policeman crossed into Israel while chasing drug smugglers, leading to exchanges of fire with Israeli soldiers.

  • UAE highlights efforts in space sector at UN committee meet

    ABU DHABI,  UAE - A high-level UAE delegation at the 66th session of the United Nations Committee on the Peaceful...

    The UAE highlighted the significance of the peaceful use of outer space, acknowledging the right of all member states to develop their capabilities.

    The UAE also focused on the importance of international collaboration to ensure space technologies benefit humanity in times of disaster.

  • Blinken on three-day Saudi Arabia visit to rebuild strained ties

    Blinken's trip will also focus on efforts to end conflicts in Sudan and Yemen, the joint battle against the Islamic...

    Blinken, due to land in Jeddah in the evening, is expected to meet Saudi Crown Prince Mohammed bin Salman, before heading to Riyadh on Wednesday

    On the eve of his Saudi trip, Blinken reiterated that "the US has a real national security interest in promoting normalization between Israel and Saudi Arabia"

  • Iran unveils hypersonic missile, says will boost country’s deterrence

    Iran's Revolutionary Guards unveiled an intermediate range ballistic missile capable of traveling at hypersonic speeds of up to 15 times...

    Several top military commanders were present, including Guards chief General Hossein Salami.

    Like slower ballistic missiles, hypersonic missiles can be equipped with nuclear warheads.

  • Obliterate global plastic pollution on urgent basis

    “We must work as one – governments, firms and consumers alike – to break our addiction to plastics, champion zero...

    Over 400 million tons of plastic is produced worldwide every year, a third of which is used only once, says UN Secretary-General Antonio Guterres

    2,000 garbage trucks' worth of plastic is dumped into global bodies of water daily, while microplastics have permeated our food, water, and even the air