GAZA CITY, PALESTINIAN TERRITORIES - Israel returned a boat to a Gaza fisherman it had seized for allegedly breaching the limits of the Palestinian enclave's fishing zone, an NGO said on Sunday, following an Israeli court order. Israeli authorities had called for the vessel, belonging to fisherman Mohammad al-Hissi, to be permanently...

DUBAI, UAE - The Mohammed Bin Rashid Space Center (MBRSC) on Sunday announced the successful execution of the Dreams experiment by astronaut Sultan Al Neyadi on the International Space Station (ISS). The experiment, a pivotal achievement in sleep science and space research, was conducted in collaboration with the European Space...

They discussed "reinforcing cooperation between the two countries in various sectors... in addition to joint efforts to fight back against terrorism", a statement from Assad's office said.

Tripoli, Libya - Oil production has resumed at two major Libyan oil fields, the oil ministry said Sunday, after a brief shutdown by demonstrators protesting the arrest of a former minister. "Operations have resumed in the Al-Sharara and Al-Fil oil fields... after they were suspended" Thursday, said the ministry, part of...

Baghdad, Iraq -- Iraq said Sunday it has found a site in a province bordering Saudi Arabia where captagon is produced, a rare discovery in a country that has become a transit route for the illicit drug. "Today, and maybe for the first time, a laboratory where captagon is produced was...

RIYADH, SAUDI ARABIA – Prices for housing, water, electricity, gas and other fuels in the Kingdom rose by 9.1 percent overall in June compared with the same month last year, government data showed on Sunday. Restaurant and hotel prices went up by 4.3 percent and education up by 3 percent,...

Doha, Qatar - The Consumer Price Index (CPI) in Qatar reached 105.71 points, showing a decrease of 0.10 percent when compared to CPI of May 2023, according to the Planning and Statistics Authority.  Similarly, an increase of 2.49 percent was recorded in the general index (CPI) of this month, when...

Dubai, UAE - Six years after imposing a comprehensive blockade on Qatar, Saudi Arabia, the United Arab Emirates (UAE), and Bahrain have nearly restored ties with the country. However, underlying tensions persist, as changing dynamics in the Middle East drive competing foreign policy priorities. These unresolved issues have the potential...

Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) and the Reserve Bank of India (RBI) on Saturday signed two Memoranda of Understanding (MoUs), which aim to support the rapid growth of trade between the two countries. The CBUAE and RBI will work together to develop a framework...

ABU DHABI, UAE - The significant growth in the volume of non-oil trade between the UAE and India signifies the positive progress of the Comprehensive Economic Partnership Agreement (CEPA), more than a year after it became operational. CEPA will help deliver the target of reaching US$100 billion in non-oil trade...

Abu Dhabi, UAE - UAE Islamic banking sector assets witnessed steady growth in 2022, accounting for 23.0 percent of the total UAE banking sector assets, according to the Central Bank of the UAE (CBUAE)’s Financial Stability Report for 2022.  The report highlighted the sector's continued recovery in profitability, supported by...

Riyadh, UAE - Commercial registrations in Saudi provinces for the robot technologies sector increased by 52 percent by the end of the second quarter of 2023 to reach 2,344, up from 1,537 records in Q2 of 2022. According to the Ministry of Commerce's recent business sector bulletin, Riyadh City topped...

Abu Dhabi, UAE - The UAE’s real GDP growth accelerated during 2022 due to a robust recovery in non-oil GDP and a sizable expansion of oil GDP, according to the Financial Stability Report for 2022 released today by the Central Bank of the UAE (CBUAE). The report noted that this...

Dubai, UAE -- A total of 3,626 real estate transactions worth over AED 13.7 billion ($3.72 billion) were conducted during the week ending 14th July, 2023, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 618 plots were sold for AED 6.19 billion, while...

Riyadh, Saudi Arabia: Saudi energy and water desalination developer ACWA Power, along with Haji Abdullah Alireza & Co (HAACO) and Al Moayyed Contracting Group (AMCG) signed a contract with a consortium for the $677 million Rabigh 4 Independent Water Plant (IWP) project. The engineering, procurement and construction (EPC) contract was signed...

UNITED NATIONS - The COVID-19 pandemic, the cost-of-living crisis and the war in Ukraine have pushed 165 million people into poverty since 2020, the United Nations said, calling for a pause in debt repayments for developing countries. Because of these shocks, 75 million people will have fallen into extreme poverty,...

Beijing, China - China's trade in goods with nations along the Belt and Road Initiative in the first half of 2023 increased by 9.8 percent year-on-year, exceeding the nation's total trade growth for the same period by 7.7 percentage points, Chinese news agency Xinhua said. According to data released by...

Dubai, UAE--The UAE and Mozambique have signed a memorandum of understanding (MoU) in the field of workforce to improve the management of the contractual work cycle for Mozambican workers in the UAE. The MoU was signed by Dr. Abdulrahman Al Awar, Minister of Human Resources and Emiratisation (MoHRE), and Margarida...

Doha, Qatar -  Qatar Tourism said on Thursday that the country received more than two million visitors during the first half of 2023.  According to a Qatar Tourism statement issued on Thursday, international arrivals in 2023 have so far doubled compared to the levels seen pre-pandemic. The arrivals by air...

Abu Dhabi, UAE-- The Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has reviewed progress of the projects undertaken by the government in the emirate. The crown prince in this connection chaired a meeting of the council...

Abu Dhabi, UAE - The United Arab Emirates and France reviewed the prospects of growing bilateral trade exchanges and advancing investments across various fields during the meeting between UAE Minister of Economy Abdullah bin Touq Al Marri, and the visiting French Minister Olivier Becht.  Two sides discussed investment exchanges in...

Vienna, Austria - OPEC Thursday predicted world oil demand to grow by a healthy 2.2 mb/d, to 104.25 mb/d in 2024, raising its 2023 forecast to 2.4 mb/d, following an upward revision of about 0.1 mbn/d from last month's assessment. In its Monthly Oil Market Report, the global organization said...

LAUSANNE, SWITZERLAND - Cristiano Ronaldo's Saudi club Al-Nassr are banned from registering new players until unpaid debts are settled, FIFA said on Thursday. The team "is currently prevented from registering new players due to outstanding debts", a FIFA spokesperson told AFP, without revealing the amount of the debts. World football's governing...

DUBAI, UAE- As much of the world swelters in record temperatures, spare a thought for Issam Genedi, who ekes out a living washing cars in one of the planet's hottest regions, the Gulf. Pausing from his work at an outdoor carpark in Dubai, the Egyptian migrant says the UAE's furnace-like summer...

DUBAI, UAE -- Dubai real estate market recorded deals worth AED 3.6 billion on Thursday, Dubai Land Department data shows. The deals included 712 sales transactions worth AED3.38 billion, in addition to 112 mortgage deals of AED200.32 million, and 22 gift deals amounting to AED41.39 million. The sales included 538...

Dubai, UAE - The GCC region could realize $9.9 of economic growth for every $1 invested in GenAI. At that rate, the overall economic impact of GenAI could reach $23.5 billion per year by 2030 within the region, Strategy& Middle East, part of the PwC network revealed in a study. ...

Dubai, UAE -- Deals worth SAR 2.3 billion ($613 million) were signed between Saudi Arabian and Turkish companies on the sidelines of the Saudi-Turkish Business Forum that kicked off in Istanbul on Wednesday. The deals have been signed for real estate development, construction, engineering consultancy and a number of other...

Abu Dhabi, UAE--The Securities and Commodities Authority (SCA) has signed a memorandum of understanding (MoU) with the UAE Banks Federation (UBF) to foster mutual cooperation in developing the financial sector. The aim is to establish the UAE as a major attraction for asset and wealth management in line with the...

Manama, Bahrain--Bahrain has climbed up to ninth position in the top destinations in the world for expatriates, according to report published by global expat network InterNations. The country gained the higher position out of all the countries in the Middle East thanks to the ease of getting a visa, dealing...

Dubai, UAE - Indian officials are concerned about China's growing influence in the Middle East and how it will impact India's national interests in the region, an article carried by Middle East Institute says.  “The difference in strategies being employed by India and its partners in the Middle East, including...

Amman, Jordan-- Jordan and Japan have discussed ways to boost economic cooperation and further strengthen strategic ties between the two countries. In this regard, Jordan's ministers of trade and international cooperation met on Wednesday in Amman with the Japanese minister of state for economy and industry for talks on economic...

Riyadh, Saudi Arabia - The Saudi-Turkish Business Forum which began on Wednesday in Istanbul, witnessed the signing of 16 agreements worth over SAR 2.3 billion ($0.62 billion) between the Saudi side and Turkish companies operating in various investment sectors, including real estate development, construction, and engineering consulting. The objective of...

Riyadh, Saudi Arabia-- Seeking to establish a broad framework for cooperation in several areas, the GCC and the Arab Planning Institute (API) have signed a a memorandum of understanding (MoU). The MoU was signed during a meeting between Jassem Mohamed Albudaiwi, GCC Secretary General of the Gulf Cooperation Council (GCC),...

London, United Kingdom - World stock markets mostly rose Wednesday as investors jockeyed for position before key US inflation data. London equities climbed after the Bank of England announced that all major UK retail lenders passed stress tests to assess their resilience to economic shocks. Frankfurt and Paris also advanced before...

BRUSSELS, BELGIUM- The European Commission approved US chipmaker Broadcom's planned $61 billion takeover of cloud computing firm VMware on Wednesday, conditional on the company fulfilling certain commitments to ease competition concerns. The massive deal had raised concerns about competition, prompting probes by antitrust watchdogs in the European Union and Britain. The...

Dubai, UAE -- Saudi Arabia's film production sector grew by 28 percent by the end of the second quarter of 2023, with more than 1700 records, compared to 1300 records during the same period last year. The Business Sector Bulletin issued by the Ministry of Commerce said the highest regions...

BRUSSELS, BELGIUM -  Sudan's warring sides must face "accountability" for the "crimes" committed in their conflict, which risks spiraling into a regional crisis, the head of UN mission in the country said on Wednesday. The fighting, which has gone on for three months, "risks morphing into an ethnicized, tribalized and ideologized...

Dubai, UAE -- Abu Dhabi Islamic Bank (ADIB) has raised $750 million in the world’s first dollar denominated additional tier-one (AT1) perpetual sukuk issued since March 2023. ADIB, which is rated A2 by Moody’s and A+ by Fitch, in each case with a stable outlook, priced the perpetual non-call, five...

Vancouver, Canada -  The United Arab Emirates has become the first Aarb country to be granted observer status at the Asia/Pacific Group on Money Laundering (APG).   A delegation from the UAE is participating with observer status in the plenary of the APG, a Financial Action Task Force style regional body...

Riyadh, Saudi Arabia--ROSHN, the Saudi real estate developer, has signed a memorandum of understanding (MoU) with the Expenditure and Project Efficiency Authority, known as Expro, to develop real estate in the kingdom.  The MoU looks to improve the efficiency and sustainability of the Public Investment Fund-backed giga-project, as well as boost...

London, Britain - The UK government has announced plans to reform the Consumer Credit Act (CCA) which is expected to benefit the Islamic finance industry. The proposed reform aims to encourage innovation, enhance credit accessibility, and strengthen consumer protections in the credit sector.  Dr Samir Alamad, a leading expert in...

Dubai, UAE -  Credit Suisse Qatar CEO Aladdin Hangari is joining HSBC. Patrick D’Amico, a Zürich based Credit Suisse Managing Director and Strategic Client Partner, as well as several other senior team members will be joining HSBC with him.  D’Amico and his colleagues are a leading Middle East banking team...

Vienna, Austria-- Looking to ramp up trade and business relations, the United Arab Emirates has signed an air transport services agreement with Austria at the Ministry of Foreign Affairs in the capital, Vienna. The agreement, which aims to strengthen air transport relations between the two countries, was signed on behalf...

Abu Dhabi, UAE -- Abu Dhabi Global Market (ADGM) has issued the ADGM Hotel and Tourism Regulations 2023 (Tourism Regulations), under which the Market will adopt the Abu Dhabi onshore tourism legislation into its legislative framework. The onshore tourism legislation includes the regulations and rules concerning hotels and tourism sectors...

Dubai, UAE--Dubai Investments and E20 Investment have signed a memorandum of understanding (MOU) to develop 3,750 Ha of agricultural land in Angola, harnessing the potential of the country’s agricultural sector for sustainable growth and economic development. E20 Investment, specializes in investing in and operating farms and processing facilities across the...

Manama, Bahrain: Entrepreneurship-themed reality television show ‘Beban’ announces the expansion of its third season to Saudi Arabia, as Hope Ventures, the investment arm of Hope Fund and producer of Beban, partners with Saudi-based GFH Capital. Saudi-based businesses can apply for season 3 online through hopefund.bh/beban by July 23. The expansion...

Ulaanbaatar, Mangolia--The UAE and Mongolia are looking to boost trade and investment cooperation with a focus on the agriculture sector. The two countries held discussions to ramp up collaboration during the visit of Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, to Mongolia. He is leading...

Abu Dhabi, UAE-- Some 5,000 new jobs have been opened up in the healthcare facilities by the Department of Health, Abu Dhabi under its "Tawteen" program for UAE nationals. All healthcare facilities in Abu Dhabi will provide the jobs for UAE nationals by the end of 2025. DoH called on...

Algiers, Algeria - Algeria's state oil company Sonatrach said on Sunday it had signed contracts to boost gas production under an existing agreement worth about $740 million with French giant TotalEnergies. The companies will increase output from two Sahara desert fields in southeastern Algeria, for export to France and elsewhere in...

Abu Dhabi, UAE -- NEOPLY, a South Korean blockchain technology company, will establish its global headquarters in Abu Dhabi, the Abu Dhabi Investment Office (ADIO) said Monday and added that the move underscores emirate's appeal as a magnet for innovation-driven companies. NEOPLY provides a decentralized finance (DeFi) platform and a...