Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has issued rules for regulating buy now pay later (BNPL) companies, as part of its role in supervising and controlling BNPL companies, according to a SAMA press release.The move reflects SAMA's continuous efforts to develop the financial sector as a whole...

ASTANA, KAZAKHSTAN – UAE and the Republic of Kazakhstan signed an agreement to enhance bilateral cooperation in the combating of financial crimes. UAE’s Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AML/CTF) and the Financial Monitoring Agency of Kazakhstan (FMA) have formally inked a Memorandum of Understanding (MoU)....

Twenty-five people were rescued and transferred to a Libyan detention center, said the IOM. It said the survivors were all in good condition and had received medical support from IOM staff.

Doha, Qatar--Qatar Airways Group and the Asian Football Confederation (AFC) have signed a global partnership set to transform the fan experience at Asian football competitions in the coming years. In a statement today, Qatar Airways said that the partnership will run from 2023 to 2029 in time for the AFC...

BRUSSELS, BELGIUM - Several Moroccan officials have been questioned as part of a high-profile investigation into alleged bribery by the north African state and Qatar at the European Parliament, Belgian prosecutors said on Saturday. The interviews in Morocco -- conducted by local authorities in the presence of Belgian investigators -- were...

London, UK - A UK destroyer has brought down a suspected attack drone in the Red Sea, defense minister Grant Shapps said on Saturday, amid rising maritime tensions in the region. Britain announced last month that it was sending HMS Diamond, one of its most advanced naval vessels, to the Gulf to...

Baqa al-Gharbiya, Israel--In Baqa al-Gharbiya, an hour's drive from Haifa, city folk have temporarily traded pens for boots to aid farmers in Israel facing a labour shortage exacerbated by the Gaza war. Whether teachers or lawyers, Arab or Jew, they have come together during their leisure time to lend a helping...

Abu Dhabi, UAE – The UAE and Azerbaijan have signed a Memorandum of Understanding (MoU) aimed at strengthening the digital infrastructure in Azerbaijan with a focus on the development of data centers.  The MoU was signed by Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE, and Rashad Nabiyev, Minister...

PARIS, FRANCE - While the UN's COP28 climate summit marked a pivot moment, when the world pledged to say "goodbye" to fossil fuels, International Energy Agency chief Fatih Birol told AFP on Friday, it needs to now urgently boost finance for the energy transition in developing countries. Birol welcomed the landmark...

The US has suggested the internationally-recognized PA could play a role in governing Gaza after the war, though the Ramallah-based administration is deeply unpopular among Palestinians

Jerusalem, Undefined -- Multiple rockets were intercepted over central Jerusalem on Friday, AFP journalists reported. Staff saw two explosions and heard three blasts, as sirens warning of incoming fire blared in the city for the first time since October 30, according to the Israeli military. Hamas's armed wing, the Ezzedine al-Qassam...

Dubai, UAE -- The real estate and properties transactions valued at 12.9 billion ($3.51 billion) in total during the week ending 15 December 2023. The sum of transactions was 3,888. A total 304 plots were sold for AED 3.53 billion, 2,744 apartments and villas were sold for AED 7.15 billion....

Riyadh, Saudi Arabia -- The GCC region’s non-hydrocarbon growth momentum remains strong, driven by higher domestic demand, increased gross capital inflows, and reform implementation, the International Monetary Fund (IMF) has said. A comprehensive package of policies should be implemented to respond to near-term shocks and uncertainty and to firmly address...

Tehran, Iran — Iran has waived visa requirements for passport holders from 33 nations, signaling a significant step in opening its doors to global visitors. “The government intends to open the country's doors to the world,” Iranian Minister of Tourism Ezzatollah Zarghami, said on Wednesday as reported by Saudi Gazzete....

London, Britain - Saudi foreign minister on Thursday Prince Faisal bin Farhan bin Abdullah called on the international community, especially the permanent members of the Security Council, including the United Kingdom, to fulfill their responsibilities towards intensifying efforts aimed at a ceasefire between Israel and Hamas and ensure the availability...

Dubai, UAE - The UAE’s GDP is expected to double in 2024 to 4.8%, up from 2.4% year-on-year in 2023, according to the latest Economic Insight report commissioned by ICAEW and compiled by Oxford Economics. While near-term growth may face constraints due to OPEC+ production quotas, the UAE's higher reference...

Dubai, UAE - An agreement to "transition away" from fossil fuels may be a landmark moment but don't expect quick changes among the major producers of the Gulf, where the deal was hammered out. After the UN's COP28 climate talks in Dubai, Saudi Energy Minister Prince Abdulaziz bin Salman immediately played...

BERLIN, GERMANY -  Germany will stop accepting imams sent from Turkey and instead train the Muslim clerics on home soil in a bid to encourage integration, the interior ministry said on Thursday. An agreement has been reached with the Turkish-Islamic umbrella group DITIB to phase out foreign imams and train 100...

ABU DHABI, UAE -  Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving Credit Facility (RCF) in partnership with First Abu Dhabi Bank (FAB) as the Green Coordinator, alongside Abu Dhabi Commercial Bank (ADCB), and Emirates NBD. This financing agreement, spanning five years,...

Filippo Grandi, head of the UN refugee agency, warned Wednesday that pushing Gazans across the frontier would be "extremely destabilizing for Egypt". "It's very important to insist that this evacuation of people beyond (the border) must not be promoted, must not be advanced, forced," the UNHCR chief told journalists in...

Riyadh, Saudi Arabia -- Saudi Arabia’s inflation rose to 1.7 percent in November compared with the previous month, according to recent data by the General Authority for Statistics (GASTAT). The cost-of-living index for November rose to 110.06 points, according to the base year 2018, from 108.25 points in the same month a...

NEOM, Saudi Arabia - Saudi Arabia's $500 billion mega project, has introduced Utamo, a new art and entertainment destination set to host performances by global mega artists. Described by NEOM as "an innovative and multipurpose event and performance space," Utamo features VIP lounges and signature restaurants, aiming to become one...

Abu Dhabi, UAE – The Central Banks of the United Arab Emirates and Qatar have chosen to maintain their current interest rates, in a coordinated move echoing the US Federal Reserve's recent decision, underlining a synchronized approach to monetary policy in the Gulf Cooperation Council (GCC) region. UAE's Monetary Policy...

The announcement came more than two months into the Israel-Hamas war in Gaza as international aid organizations have warned about the dire conditions in the crowded Palestinian territory. The ministry did not specify which vaccinations had run out, and its claim could not be independently verified.

Riyadh, Saudi Arabia -- In the third quarter of 2023, Saudi investors engaged in sell and buy transactions on US equities with a total value of SAR 13.7 billion ($3.65 billion) through capital market institutions. This reflects a substantial year-on-year (YoY) fall of SAR 9.15 billion, equivalent to a 40...

Dubai, UAE - With the UAE-based G42's decision to align with US directives by severing ties with Chinese tech partners early this month, the spotlight now shifts to the actions anticipated from other technology firms across the GCC region. The question now is whether more companies in the region will...

Beijing, China - China and Saudi Arabia signed over 60 MoUs and agreements worth over $25 billion at the investment conference in Beijing. The conference was attended by more than 1,000 government and business leaders. Agreements were signed in key sectors including energy, agriculture, tourism, mining, financial services, logistics, infrastructure,...

Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) joined AFAQ Payments System, which is operated by the Gulf Payments Company (GPC) and owned by the GCC Central Banks.  “AFAQ”, a system linking payment systems in GCC countries, offers the service of executing financial transactions in local currencies to...

Washington, US - The Israel-Hamas war in Gaza is having a severe impact on the Palestinian economy, according to the World Bank, which now estimates sharp economic contraction this year and next. The conflict, sparked by Hamas' cross-border attacks on October 7 that killed 1,200 people, according to Israeli figures, and...

CAMBRIDGE, US - Harvard University's president, under fire over testimony she gave about anti-Semitism on campus, will remain in her job after a meeting of the institution's governing body issued a statement backing her on Tuesday. Claudine Gay has been engulfed by criticism after she declined to unequivocally say whether calling...

At the annual Doha Forum that ended Monday, Qatar reiterated that no Arab country would send in forces to stabilize the situation after the guns of Israel and Hamas fall silent.

The chief of WHO said the convoy was stopped twice at the Wadi Gaza checkpoint on the way to northern Gaza and on the way back, adding that some Palestinian Red Crescent staff were detained both times and questioned for several hours.

DUBAI, UAE - The outlook for 2024 remains “highly uncertain and generally pessimistic,” UNCTAD says in the Global Trade Update, citing factors like ongoing geopolitical tensions, escalating debt and widespread economic fragility. Other elements weighing on trade include lower demand in developed countries, less trade in East Asia, an uptick...

Dubai, UAE - Google on Monday released the top trending searches of 2023 for the Middle East and North Africa. The annual lists reveal the most trending search queries which experienced a higher volume of search over a sustained period in 2023 compared to 2022. The lists included the top...

DUBAI, UAE – Public-private partnerships have the potential to play a significant role in mobilizing private financing for environmental solutions, said Merilin Horats-Beasley, Senior Climate Policy Officer at the European Investment Fund (EIF), Europe’s largest financier of venture capital and private equity. Speaking to TRENDS during The United Nations Climate...

Miami, United States--Inter Miami on Monday confirmed details of two upcoming friendlies in Saudi Arabia next year which will include a showdown between Lionel Messi and old rival Cristiano Ronaldo. The Major League Soccer club had already announced plans for the team to face Ronaldo's Al Nassr in Riyadh, without confirming...

Jordan's culture ministry, Gharaibeh's organization is working to add the trees to the UNESCO Intangible World Heritage List, hoping this "will ultimately contribute to preserving them and protecting them". Jordan is working on a plan to engage the public with the trees by placing a QR code on every bottle...

Riyadh, Saudi Arabia - The number of visitors to Riyadh Season has surged to over 9 million, indicating a significant level of interest in the various zones and activities of the Season. Riyadh Season, marked by the slogan "Big Time," completed the spectrum of entertainment choices with top-tier events and...

Speaking at the 12th Arab Energy Conference organized by the Organization of Arab Petroleum Exporting Countries (OAPEC), Qatar's Energy Minister Saad bin Sherida Al Kaabi stressed the importance of addressing energy security challenges and called for increased investments in energy efficiency, low-carbon technologies, and renewable energy sources.

RIYADH, SAUDI ARABIA – Russia and Saudi Arabia expressed concern on the present situation in Gaza and said that a two-state solution is the only way to ensure peace in the region. The two countries issued a joint statement at the conclusion of Russian President Vladimir Putin’s visit to Saudi...

Muscat, Oman -- Oman's revenues for the nine-month period of 2023 declined 17 percent to 9.8 billion riyals ($25.45 billion), compared to 11.86 billion riyals for the same period in 2022. The financial performance bulletin issued by the Omani Ministry of Finance today indicated that the net oil revenues until...

Riyadh, Saudi Arabia - Collaboration between Saudi Arabia and Russia to drive OPEC+ members toward output cuts has resulted in a 2.29% surge in crude oil prices. Despite these global efforts, US output continued at a high of over 13 million barrels per day, contributing to a surplus in the...

Doha, Qatar-- Oil and gas producers in the Middle East are assessing "challenges and opportunities" available for their economies to grow while depending on hydrocarbon by working to enhance cooperation in the rapid transitions in the European energy field. The eagerness to make a transition toward clean energy and strike...

Dubai, UAE - Australian cricket star David Warner along with Indian top Indian cricketer Harbhajan Singh will lead the marketing campaign of the Season 2 of the DP World International League T20, the tournament’s broadcast partner ZEE Entertainment Enterprise has revealed. Warner is set to make his DP World ILT20 debut...

OTTAWA, CANADA  — A group of foreign ministers from the Palestinian Authority, Saudi Arabia and Turkey met Canadian Foreign Affairs Minister Mélanie Joly and Prime Minister Justin Trudeau here to discuss the Israel-Hamas war. The quietly planned meeting focused on ways countries could help efforts to secure peace for Palestinians...

DOHA, QATAR - Prime Minister of Palestine Mohammad Shtayyeh called for holding Israel accountable, imposing sanctions and not allowing it to continue violating international laws. Addressing a session within the Doha Forum 2023 on Sunday, Shtayyeh called for an “urgent investigation into its crimes against the Palestinian people”. “What is...

MOSCOW, RUSSIA - Russian President Vladimir Putin has offered assistance in helping to deescalate the tense situation in the Gaza Strip, according to the Kremlin's press service. This offer was made during a phone conversation with Israeli Prime Minister Benjamin Netanyahu. “The Russian side is ready to offer all possible...

Riyadh, Saudi Arabia -- The National Debt Management Center (NDMC) completed the arrangement of a syndicated international loan worth $11 billion. A total of 14 international financial institutions from Asia, the Middle East, Europe, and the US participated in the 10-year loan, NDMC said in a statement Sunday, according to...

BRUSSELS, BELGIUM -  An original cover painting from the 1963 comic book Asterix and Cleopatre was to go under the hammer on Sunday despite a legal challenge from the artist's daughter. The famous gouache, showing a reclining ancient Egyptian ruler and the two Gaulish heroes Asterix and Obelix was to be...

DOHA, QATAR - Mediation efforts are continuing to secure a new Gaza ceasefire despite ongoing Israeli bombardment that is "narrowing the window" for a successful outcome, Qatar's prime minister said on Sunday. "Our efforts as the state of Qatar along with our partners are continuing. We are not going to give...