Abu Dhabi, UAE -- The financial markets of the United Arab Emirates and Saudi Arabia topped the Arab stock exchanges during the third quarter of the current year, after achieving market profits of nearly $167 billion, according to the Arab Monetary Fund. The Fund, in its quarterly bulletin on Arab...

New York, United States-- United Nations Secretary-General António Guterres Friday announced the selection of Saudi Arabia to the UN Advisory Body on Artificial Intelligence (AI), which consists of 39 members representing government and private and civil-society organizations and the academic community from various countries around the world.Shura Council member Dr....

Doha, Qatar -- Qatar recorded real estate trading volume in sales contracts worth QR 308 million ($84.59 million) for the Oct. 15-19 period, the country's Department of Real Estate Registration at the Ministry of Justice said. Total sales contracts for residential units for the same period was QR 1.09 billion....

Riyadh, Saudi Arabia -- The Public Investment Fund will soon announce complementary projects for the automobile industry, mainly batteries, said Muhammad AlShiha, Head of Automotive and Mobility Sector at PIF. The fund has entered into the second phase of the automobile industry, AlShiha told Asharq News, explaining that the current...

Abu Dhabi, UAE – The UAE president Sheikh Mohamed bin Zayed Al Nahyan Thursday discussed climate financing with the President of the World Bank Group Ajay Banga at Qasr Al Shati in Abu Dhabi. The meeting also discussed global economic conditions, the economic impact of crises, and the contributions of the...

Riyadh, Saudi Arabia – The three day 7th edition of the Future Investment Initiative (FII7)  which ended on October 24 saw $17.9 billion in investments across multiple sectors. FII7 focused on the latest trends in technology and investment, delving into areas such as space and aviation, biotechnology, cybersecurity, robotics, venture...

Moscow, Russia - Palestinian leader Mahmoud Abbas will soon visit Moscow for talks with Russian President Vladimir Putin, a senior Russian diplomat announced. "I can say that he [Abbas] will soon arrive on an official visit in Moscow; talks with Vladimir [Putin] will be held here," said Russian Deputy Foreign...

Jerusalem - Hamas's armed wing said on Thursday that "almost 50" Israeli hostages held in the Gaza Strip since the October 7 attacks have been killed in Israeli bombing raids on the Palestinian territory. "(Ezzedine) Al-Qassam Brigades estimates that the number of Zionist prisoners who were killed in the Gaza...

NEW DELHI, INDIA  -  India said on Thursday that eight of its citizens had been sentenced to death by Qatar in a case that media reported involved high-ranking ex-naval officers accused of spying. New Delhi said it would "take up the verdict with Qatari authorities" and would continue to "extend all...

Riyadh, Saudi Arabia -- Saudi Arabia announced Thursday the completion of SAR 1 billion investment procedures by ASPACE, a Hong Kong-based company. This investment aims to establish an advanced satellite manufacturing company within the Kingdom, with expected growth throughout the project phases, for the manufacturing of components, subsystems, and satellites....

Riyadh, Saudi Arabia -- As global banking elites attend the Future Investment Initiative forum in Riyadh, a focal point of Saudi Arabia's economic reforms, AFP takes a look at the vehicle that is bankrolling the transition: the Public Investment Fund. From world-class footballers to a new national airline and even a...

Dubai, UAE -- Dubai has retained its leading position in the MENA region on Kearney's Global Cities Index, ranking 23rd globally and claiming a spot in the top 25 for the third consecutive year. According to the report, prominent emerging hubs around the world, particularly in the Middle East, have...

Roughly one in five Saudi adults is obese, according to an in-depth study published by the World Bank last year .

Dubai, UAE - The Arab Open Banking is expected to experience 25% annual growth over the next five years, a report by the Arab Monetary Fund (AMF) predicted. The AMF will support Arab central banks in adopting effective frameworks for Open Banking and Finance initiatives. The report, titled "Guidelines for...

Moscow, Russia - Russian President Vladimir Putin warned on Wednesday that the Israel-Palestine conflict could potentially extend beyond the Middle East, Reuters reported. Russian leader stressed the need to protect innocent civilians, during a meeting with religious leaders of various faiths in the Kremlin and called for an end to...

Istanbul, Turkey - Turkey is ready to act as a guarantor country for Palestine in the settlement of the Palestinian-Israeli conflict, Turkish President Recep Tayyip Erdogan said in his address to a parliamentary session on Wednesday, Russian agency TASS reported. Erdogan also proposed to convene an international peace conference aimed...

Qatar's top diplomat Mohammed bin Abdulrahman Al-Thani said the two governments -- both Western allies -- "reaffirm our complete rejection of responding to the crisis with double standards when it comes to human life". "It is not permissible to condemn the killing of civilians in one context and justify it...

Erdogan had taken a more measured tone in the first day of war, condemning all attacks against civilians and urging Israel to be measured in its response to the deadly October 7 attacks by Hamas. But he became much more vocal after the deadly strike on Ahli Arab hospital in...

Abu Dhabi, UAE -- UAE banks' investments surpassed AED 580 billion, hitting a record high in August 2023, according to the Central Bank of the UAE. The investment grew by 19.5 percent year-over-year to reach AED 585.4 billion ($159 billion) by the end of August 2023, up AED 95.6 billion...

Tech giant Microsoft said Tuesday its profits rose in the latest quarter, boosted by its strength in the closely watched cloud services segment. Google, like most big tech companies, saw its share price rise steeply in 2023 as investors expected AI to generate new revenue and open new markets.

Riyadh, Saudi Arabia - The world should be prepared that the interest rates are here to stay for a longer duration, Managing Director of the International Monetary Fund Kristalina Georgieva said at the Future Investment Initiative (FII) conference in Riyadh.  “We want to see the normalization of the monetary policy...

Riyadh, Saudi Arabia - Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud and US President Joe Biden discussed on Tuesday the military escalation in Gaza and efforts made to address it. Receiving a telephone call from Biden, the Crown Prince underlined the necessity of immediate work to explore...

United Nations, - UN Secretary-General Antonio Guterres on Tuesday alleged violations of international law as Israel pounds Gaza, and urged an immediate humanitarian ceasefire to bring in relief. "I am deeply concerned about the clear violations of international humanitarian law that we are witnessing in Gaza. Let me be clear:...

Beijing, China - China announced on Tuesday a 1 trillion yuan ($137 billion) sovereign bond issuance, state media said, in a move experts say is an attempt to shore up the economy after a sluggish post-Covid recovery. The funds will be distributed to local governments to support national disaster prevention and...

Tel Aviv, Israel - Yocheved Lifshitz "went through hell" when abducted by Hamas, the 85-year-old Israeli said Tuesday, recounting her experience before being released from Gaza and criticizing her government for failing to prevent the October 7 attack. The softly-spoken but determined Lifshitz sat in a wheelchair at a Tel Aviv...

Riyadh, Saudi Arabia -- The Saudi Electricity Company (SEC) announced today signing a $3 billion (SAR 11.25 billion) international syndicated facility agreement with four leading banks in the region. The agreement was signed amid Riyadh's prominent global economic event, the Future Investment Initiative. The financing agreement has a tenure of...

Riyadh, Saudi Arabia -- Saudi Arabia's Minister of Economy and Planning, Faisal F Alibrahim said Tuesday the Kingdom saw a remarkable 135 percent growth in exports and services in the second quarter of this year compared to Q2 last year, with tourism playing a significant role. Speaking at the seventh...

Riyadh, Saudi Arabia - Saudi Arabia is set to embark on a significant endeavor to expand its power generation capacity, with plans to attract investment amounting to hundreds of billions of dollars by the end of this decade. Marco Arcelli, the CEO of ACWA Power Co., based in Riyadh, Bloomberg...

BEIJING, CHINA - China's Gross Domestic Product (GDP) grew by 4.9 percent year-on-year in the third quarter, surpassing economists' predictions of 4.4 percent. This demonstrates the continuing momentum of China's economic recovery, spurred by the introduction of various macro-policies since July. According to a Global Times report, Chinese analysts emphasize...

Beirut, Lebanon - US troops have been redeployed to the eastern Mediterranean, forty years after one of the deadliest attacks on US troops in the Middle East, raising concerns about the potential for a new conflict in the region, Associated Press reported today.   On October 23, 1983, a suicide bomber...

Paris, France - Stock markets slid on Monday, extending last week's sell-off n fears of a regional conflict in the Middle East and worries that US interest rates will remain elevated for longer than initially thought. The concerns about US interest rates have also been affecting bond markets, with the yield...

MOSCOW, RUSSIA - Russian President Vladimir Putin called on Monday for "unhindered access" for humanitarian aid to enter Gaza, in a telephone call with his Brazilian counterpart Luiz Inacio Lula da Silva, the Kremlin said. According to a readout of the call from the Kremlin, the two leaders "expressed serious concern...

Riyadh, Saudi Arabia -- The Saudi Authority for Industrial Cities and Technology Zones (Modon) has attracted new investments by partnering with China and Japan to provide third-party services in industrial cities, as part of Modon's strategic vision to be a preferred destination for the growth of investments and the first...

Guangzhou, China - China is committed to enhancing trade and investment ties with the Gulf Cooperation Council (GCC) as part of their efforts to advance Belt and Road cooperation to a new level of higher quality and development, China's Minister of Commerce, Wang Wentao, said on Sunday, Xinhua reported. The...

Abu Dhabi, UAE - Aldar Properties achieved a 97% occupancy rate across its prime Grade A commercial properties, which includes its four buildings at Abu Dhabi Global Market (ADGM), HQ, and International Tower, the company said today. Occupancy rates at the towers located at ADGM, the international financial centre on...

Dubai, UAE-- Hamdan Bin Mohammed Smart University (HBMSU) and Knowledge E have signed a memorandum of understanding to reshape the future of education in the emirates. The MoU was signed by Dr. Fahad Al Saadi, HBMSU Vice Chancellor, Learners Development, and Kamran R. Kardan, Founder and Chief Executive Officer of...

Cairo, Israel - The areas near Al-Shifa Hospital in Gaza City and Al-Quds Hospital in the western part of the Gaza Strip have been shelled by Israel's air force, Palestine's WAFA news agency reported, according to Russia's TASS news agency. WAFA said that the strikes aimed to hinder the operations...

Riyadh, Saudi Arabia - Bilateral trade between Saudi Arabia and Malaysia rose 160% in 2022 compared to 2021, revealed the joint statement issued at the conclusion of the visit of Malaysia's Prime Minister, Anwar Ibrahim, to the Kingdom of Saudi Arabia. The statement stressed the importance of continued collaboration to...

Abu Dhabi, UAE -- UAE President Sheikh Mohamed bin Zayed Al Nahyan and Singapore Prime Minister Lee Hsien Loong Sunday discussed the relations and partnership between the two countries and explored avenues for its development to serve mutual interests. Additionally, they addressed a range of regional and international issues and...

Dubai, UAE -- Emaar, The Economic City, the master-developer of King Abdullah Economic City (KAEC), has signed a strategic agreement with Orascom Development and Managment and Alkholi Holding Company to develop a waterfront mix-use destination in KAEC. This initiative aims to enhance the city's position as a family gateway to...

While Israeli strikes have repeatedly caused the grounding of flights at the government-controlled airports in the capital Damascus and the northern city of Aleppo, it is the second time simultaneous strikes have hit the facilities since this month's conflict between Israel and Hamas began. "At around 5:25 am (0225 GMT),...

Berlin, Germany--Qatar, a key power in the efforts to release hostages seized by Hamas from Israel, believes they can be released "very soon" thanks to ongoing discussions, a Qatari Foreign Ministry spokesman told the German Welt am Sonntag newspaper Saturday. Doha's mediation played a key role in the release on Friday...

Jerusalem - Casualties were reported along the Israel-Lebanon border on Saturday as the army traded fire with Iran-backed group Hezbollah amid fears of a new front opening as Israel battles Hamas. Israel already ordered the evacuation of Kiryat Shmona, a border town which is home to some 25,000 people, as...

RAMALLAH, PALESTINIAN TERRITORIES - Israeli troops on Saturday raided the West Bank home of a senior Hamas leader and detained members of his family, witnesses said. Saleh al-Aruri is the deputy to Hamas' overall leader Ismail Haniyeh and one of the founders of the Islamist group's military wing. Based in Lebanon,...

Abu Dhabi, UAE – UNCTAD's 8th World Investment Forum came to a close on Friday in Abu Dhabi with a powerful call to public and private investors to play a role in reshaping the world economy, and seize the emerging opportunities offered by the energy transition, transformation of the agrifood...

Geneva, Switzerland - At least 30% of the housing sector in the Gaza Strip has been either destroyed or rendered uninhabitable, while hospitals are overwhelmed with patients, according to the UN Office for the Coordination of Humanitarian Affairs (OCHA), reported by the Russian news agency Tass. "Since 7 October, at...

Abir Bakr, a lawyer for Palestinian singer Dalal Abu Amneh who was arrested briefly four days ago, told AFP her client "went to the police station to file a complaint after she received hundreds of messages in both English and Arabic threatening her and her family with death".

CAIRO, EGYPT – Tens of thousands of protesters rallied across Egypt in support of war-torn Gaza on Friday, with large crowds flooding into Cairo's iconic Tahrir Square, an AFP correspondent and Egyptian media said. The correspondent said several thousand packed into Tahrir Square, the epicenter of the 2011 uprising that toppled...

Tel Aviv, Israel -- Palestinian President Mahmoud Abbas declined to take a telephone call from US President Joe Biden during the latter’s visit to Israel on October 18, Israel's state-run Kan Radio said. Citing a source in Ramallah, the administrative center of the Palestinian West Bank where Abbas has his...

Dubai, UAE -- The Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi) and Microsoft have signed an MoU that enables innovation in key areas such as generative artificial intelligence (AI) and cloud computing and brings together both organizations’ capabilities and resources to enhance the tourist and cultural...