Abu Dhabi, UAE--The MENA region's commercial aircraft services market will more than double in value by 2042, according to Airbus’ latest Global Services Forecast (GSF). Growing to US$28 billion from US$12 billion, and registering a 4.4 percent average annual growth, the regional expansion will surpass the global average growth of...

Riyadh, Saudi Arabia - Saudi Arabia has earned the distinction of being the world's most connected country in terms of its road network, Minister of Transport and Logistics Eng. Saleh Al-Jasser said on Monday. Speaking at the launch of the "Safe distinguished roads" campaign in Riyadh, Al-Jasser highlighted a remarkable...

Brussels, Belgium - The EU on Monday hit Apple with a more than 1.8-billion-euro fine ($1.9 billion) for violating the bloc's laws by preventing European users from accessing information about alternative, cheaper music streaming services. The iPhone maker immediately vowed to appeal the first ever antitrust fine slapped on Apple by...

"A diplomatic solution is the only way to end the current hostilities" and achieve "a lasting fair security arrangement between Lebanon and Israel", Washington's envoy Amos Hochstein told reporters in Beirut, adding that "a temporary ceasefire is not enough". "A limited war is not containable," he said after meeting with parliamentary...

Doha, Qatar -- Qatar's General Producer Price Index (PPI) for January 2024 is estimated at 113.22 points showing a decrease of 4.38 percent compared to December 2023. On Y-o-Y basis, PPI of January 2024 showed a decrease of 12.63 percent, according to the Planning and Statistics Authority (PSA). The monthly PPI of...

Riyadh, Saudi Arabia -- Saudi Arabia's Ministry of Communications and Information Technology announced has said that the Kingdom witnessed technology investments on the first day of LEAP 2024 worth more than $11.9 billion. Amazon Web Services will invest $5.3 billion in the Kingdom to create a high-capacity cloud region, the...

Dubai, UAE - The Middle East has emerged as a prominent player in global CEO appointments, securing 68 out of a total of 1,221 positions at the largest public listed companies worldwide. Heidrick & Struggles revealed in a report titled "Route to the Top 2023". The countries contributing to these appointments...

Just minutes after the launch, as the rocket soared over the Atlantic, it was moving at a speed of 6,000 miles per hour, NASA TV commentators said. It took about nine minutes for the capsule to settle into orbit as it prepared to dock with the ISS and relieve four...

Riyadh, Saudi Arabia - About 89% of CEOs in Saudi Arabia are optimistic about the country's economic growth over the next 12 months, surpassing the global average of 44%, the Middle East average of 73%, and the GCC average of 81%, reveals the 27th Annual CEO Survey by the PwC...

Abu Dhabi, UAE-- The UAE has expanded its network of trading partners around the world through comprehensive economic partnerships, contributing to increasing trade and investment flows and enhancing global economic growth, according to top officials from the country. Top economic officials have stressed the UAE's significant role in supporting the...

Hours before Saturday night's scheduled launch, SpaceX posted on X that "elevated winds" forced the delay. It was the latest postponement for the launch, which initially was slated for February 22.

Abu Dhabi, UAE--The 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO) has concluded with the acceptance of Abu Dhabi Declaration, a landmark document securing important new trade agreements that will extend the benefits of the global trading system to more nations. Following a week of intensive negotiations, Dr...

Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules in the bloc, 34 digital organizations complained to the European Commission this week. They include app makers Epic Games and Spotify. "We are very concerned that Apple’s proposed scheme for...

Nairobi, Kenya - African Union chief Moussa Faki Mahamat on Saturday accused Israel of "the mass killing of Palestinians" and urged an international probe after dozens died following a rush on an aid convoy in war-torn Gaza. "Mahamat strongly condemns an attack by Israeli forces that killed and wounded more than...

New York, United States - Iris Apfel, centenarian style icon from the New York borough of Queens immediately recognizable by her oversized owlish glasses, has died at age 102, according to her Instagram account. The self-described "geriatric starlet," best known as a textile designer and fashion celebrity, reached peak fame only...

Doha, Qatar - Web Summit Qatar 2024, the world's largest tech events debut in the Middle East and Africa, ended on a high note with the signing of 24 memorandums of understanding between Qatari institutions and the most prominent international technology companies, with the aim of promoting innovation and entrepreneurship...

Jeddah, Saudi Arabia - The Organization of Islamic Cooperation (OIC) will hold an extraordinary meeting of its Council of Foreign Ministers to discuss the continuing Israeli aggression against the Palestinian people. The session will be held at the headquarters of its General Secretariat in Jeddah on March 5. OIC Secretary-General...

Abu Dhabi, UAE - The Emirates Nuclear Energy Corporation (ENEC) on Friday announced that its operating and maintenance subsidiary, Nawah Energy Company, has successfully started-up the reactor of Unit 4 of the Barakah Nuclear Energy Plant (Barakah Plant). The reactor has begun initial production of heat through nuclear fission, used...

BRUSSELS, BELGIUM - The EU on Friday used new regulatory powers to query Meta about ad-free subscriptions to Facebook and Instagram as well as claims some voices are suppressed online in a phenomenon known as "shadow banning". The European Commission made a request for information under the mammoth content moderation law known...

Riyadh, Saudi Arabia -- Saudi Arabia formally launched its bid to host the 2034 World Cup on Friday, nearly four months after football's world governing body FIFA announced the kingdom was the only candidate. The bid comes two years after neighboring Qatar hosted the first World Cup in the Middle East....

London, UK- Controversial left-wing firebrand George Galloway was elected to the UK parliament on Friday after tapping into anger over the Israel-Hamas war in a chaotic by-election marred by anti-Semitism allegations. Galloway, 69, first became an MP in 1987 and will return to the House of Commons for the first time...

PARIS, FRANCE – Energy-related carbon dioxide emissions rose to a record level in 2023, but the growth slowed from previous years thanks to continued expansion of clean technologies, the International Energy Agency said on Friday. CO2 emissions from energy rose by 1.1 percent in 2023, increasing by 410 million tonnes to a...

Barcelona, Spain -- e& Friday pledged to invest $6 billion between 2024 and 2026 in technological advancement, infrastructure development, and innovative digital solutions to extend meaningful connectivity to everyone. In an announcement at Mobile World Congress (MWC), e& said this investment is set to provide accessible and affordable network connectivity...

Paris, France--France wants an independent inquiry into the deaths of scores of Palestinians during an aid delivery in the northern Gaza strip, Foreign Minister Stephane Sejourne said Friday. "We will ask for explanations, and there will have to be an independent probe to determine what happened,"  Sejourne told the France Inter...

Dubai, UAE - Leading financial institutions are spearheading a transformative wave in the UAE real estate sector through the introduction of seamless cross-border payments. The initiative is poised to enhance accessibility and efficiency for global investors seeking to engage in property investment within the UAE.  Traditionally, the process of investing...

Abu Dhabi, UAE--Masdar, the UAE’s clean energy powerhouse, has completed its acquisition of a 49 percent shareholding in the 3 gigawatt (GW) Dogger Bank South (DBS) project – one of the world’s largest planned offshore wind farms. The planned $13.89 billion joint investment with RWE, a leading renewable energy company...

ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as a major WTO conference was extended beyond its scheduled deadline. With no signs of a breakthrough at the World Trade Organization's 13th ministerial conference (MC13) in Abu Dhabi, officials pushed...

LONDON, UK – Europe's aviation industry is extending its bounceback from the Covid pandemic, as British Airways owner IAG and Franco-Dutch rival Air France-KLM posted bumper 2023 profits on Thursday. The sector is flying at cruising altitude on pent-up demand after emerging from the dark days of Covid, which grounded planes...

Algiers, Algeria -- Sonatrach, the state-owned energy company of Algeria, will allocate $8.8 billion investment in 2024, which represents 17.6 percent of the total Algerian investment portfolio of $50 billion for the next four years (2024-28). The company's CEO, Rachid Hachichi, told QNA that majority of the allocated funds (71...

Abu Dhabi, UAE -- Saif Mohammed Al Suwaidi, Director-General of the General Civil Aviation Authority (GCAA), said Thursday that the UAE's airports surpassed 134 million passenger mark in 2023 and are projected to reach 140 million by 2024. He attributed this achievement to the robustness and competitiveness of the UAE...

Riyadh, Saudi Arabia -- Saudi Arabia has granted permission to more than 350 international companies to open their regional headquarters in the Kingdom, with the majority seeking to set up in Riyadh, Minister of Investment Khalid Al Falih said. Speaking at the Human Capability Initiative (HCI), the minister said the...

Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global developers with expected investments worth $41 billion over ten years, the Egyptian Government announced. Egyptian Minister of Planning and Economic Development Hala Al-Saeed said that the agreements represent a new...

Sao Paulo, Brazil-- The UAE has affirmed that it collaborates with the BRICS nations in order to establish sustainable development policies, effective financing solutions and an advanced digital infrastructure. This was stated by Mohamed Hadi Al Hussaini, UAE's Minister of State for Financial Affairs at the first BRICS finance ministers...

Sharjah, UAE – Petrozo Energy, a leading Singapore-based oil and gas company, has announced a plan to establish a new manufacturing facility in the Hamriyah Free Zone in the UAE.   The free-zone is strategically located on the borders of Ajman and Sharjah, with direct access to Ras Al Khaimah.  The...

Abu Dhabi, UAE - The number of AI companies registered in Abu Dhabi grew at a compound annual rate of 67% between 2021 and 2023A, a new study developed by the Business & Economics Intelligence Sector at the Abu Dhabi Chamber of Commerce and Industry revealed. The increase further bolsters...

Abu Dhabi, United Arab Emirates -- A US-led push to reform the World Trade Organization's embattled dispute settlement system sparked divisions at a WTO meeting Wednesday, with India accusing Washington of bringing the trade body to a "standstill". A working session on dispute settlement reform was held on the third day...

London, United Kingdom -- Bitcoin passed the $60,000 mark on Wednesday, approaching its all-time high and continuing its unbridled rise since the approval of a new type of investment indexed to the cryptocurrency. At 1325 GMT, bitcoin traded at about $60,301, closing in on its all-time high of $68,991 -- that...

DUBAI – Sheikh Abdulla bin Mohammed Al Hamed, Chairman of the UAE Media Council (UAEMC), has approved a comprehensive legislative and policy roadmap for the media sector in the UAE during a meeting of the Council's Board of Directors. At the UAEMC meeting, Sheikh Abdulla emphasized the importance of aligning...

Stung by the struggles of cryptocurrency and other faded Silicon Valley fads of recent years, venture capitalists have quickly doubled down on AI, a new promised land in the never-ending quest for big tech riches. For the big investors, "if it's not AI, it's not worth it," Denis Barrier, co-founder...

Tunis, Tunisia--Tunisian President Kais Saied on Monday stressed the need to reach an approach that contributes to enhancing the security of Arab societies, according to a statement released by the Tunisian presidency. While hosting participants of the 41st session of the Arab Interior Ministers Council launched in Tunis on Monday,...

Dubai, UAE - The International Monetary Fund (IMF) in a report has indicated that the global economy is on course for a soft landing, despite ongoing weaknesses in activity and growth prospects. "The cyclical position of G20 countries has proven stronger than previously anticipated as disinflation has so far proceeded...

Tubas, Palestinian Territories - Israeli troops killed three Palestinians in an overnight raid in a refugee camp in the occupied West Bank, the Palestinian health ministry said on Tuesday. It was the latest in a surge of violence in the restive Palestinian territory since the outbreak of the Israel-Hamas war in...

Moscow, Russia -- Moscow is maintaining close contact with officials from the Arab League and the Organization of Islamic Cooperation (OIC) on Russia’s upcoming presidential election, Russian Deputy Foreign Minister Mikhail Bogdanov said Tuesday. Bogdanov, who serves as Russian special presidential envoy for the Middle East and Africa, told TASS,...

BIRZEIT, PALESTINIAN TERRITORIES – At a museum in the Israeli-occupied West Bank, Gazan works on display are proclaimed to be an "ongoing artistic demonstration" in solidarity with the war-ravaged Palestinian territory. "This is not an exhibition", reads the sign at the entrance to the Palestinian Museum in Birzeit, near Ramallah, showcasing...

Dhahran, Saudi Arabia -- Energy giant Saudi Aramco Tuesday announced that it has signed 40 corporate purchase agreements worth $6 billion with suppliers in Saudi Arabia under its localization program. The new purchase agreements cover companies in multiple sectors and include the supply of a variety of products, including strategic...

Beirut, Lebanon--Lebanon's Hizbollah said it launched a salvo of rockets at an Israeli air control base on Tuesday in retaliation for deadly Israeli strikes on east Lebanon. Hamas ally Hezbollah has exchanged near-daily fire with the Israeli army since the Gaza war erupted in October, but strikes have been largely restricted...

Colombo, Sri Lanka - Sri Lanka's national airline on Tuesday blamed a rat for grounding a plane for three days, sparking chaotic delays and fears it will scare off investors for the cash-strapped carrier. The stowaway rodent was spotted enjoying the SriLankan Airlines Airbus A330 flight from the Pakistani city of...

Dubai, Riyadh - Smartphone shipments in the Middle East and Africa (MEA) region witnessed a remarkable surge, growing by 30% year-over-year (YoY) and 9% quarter-over-quarter (QoQ) in the final quarter of 2023, according to Counterpoint’s Market Monitor Service.  The MEA region demonstrated the highest YoY growth globally during this period,...

Dubai, UAE-- Morocco hopes to increase its exports by 12 percent this year, according to the kingdom's minister of industry and trade, Ryad Mezzour. In statements to the Emirates News Agency (WAM), on the sidelines of the opening day of the 13th WTO Ministerial Conference hosted by the UAE in...

Riyadh, Saudi Arabia - Red Sea Global (RSG), the developer behind The Red Sea and Amaala, the Saudi tourism destinations, announced the release of its first 'Red Sea Waves' album, produced by its own Red Sea Studios. The creative team at Red Sea Studios - led by Adham Alzanbagi in...