Paris, France - Counterfeit products -- mainly clothes -- cost the European economy 16 billion euros a year and result in nearly 200,000 lost jobs, the EU's Intellectual Property Office said Tuesday. The findings, based on data from 2018 to 2021, show that fakes take the biggest toll on the clothing...

When the first bombs rang out in Sudan, Amjad, Fatima and Mazin abandoned their paintbrushes, musical instruments and studios, leaving behind the lives they knew for unfamiliar shores. Now in Egypt, they have sought to bring back the sights and sounds of a long-lost home to an audience of about...

Sharjah, UAE--The number of passengers travelling through Sharjah airport reached 15.3 million in 2023, as compared to 13.1 million in 2022, marking over 17.4 percent growth, according to Sharjah Airport Authority. The air traffic witnessed an increase of 12 percent with over 98,000 flight movements in 2023 as compared to...

Qamishli, Syria - Hundreds of northeast Syrian villages and towns have lost power after Turkish strikes pounded electricity stations and infrastructure, the region's semi-autonomous Kurdish administration said on Monday. The Kurdish administration said Turkey launched a slew of strikes since Friday, mostly concentrated on infrastructure including power stations and oil refineries....

"Remember Ukraine?" UN aid chief Martin Griffiths asked as he launched the plan in Geneva. "Please do not forget Ukraine while there are many other places in the world which grab our attention." "As we go into 2024, the competition for funding is going to be more," he acknowledged, citing...

RIYADH, SAUDI ARABIA - The Board of Directors of the Qiddiya Investment Company (QIC) announced on Monday the launch of the Prince Mohammed bin Salman Stadium, an iconic multi-use venue set to further enhance Qiddiya’s philosophy of the Power of Play. Upon opening, it is anticipated to host some of...

RIYADH, SAUDI ARABIA – The Kingdom and the People’s Republic of China signed on Monday in Beijing a memorandum of understanding for cooperation in the field of accounting, auditing and professional work. The agreement was signed by General Court of Audit (GCA) President Dr. Hussam Al-Angari and Auditor General of...

DUBAI, UAE - Nasdaq Dubai has welcomed the listing of a US$600 million green bond by China Construction Bank (DIFC Branch). The green bond issuance targets combating climate change, represents China Construction Bank's significant commitment to sustainable financing and highlights the growing synergy in green financing between China and UAE....

Violence has surged in the West Bank since October 7, when the Palestinian armed group Hamas launched an attack in southern Israel that sparked a full-scale conflict in the Gaza Strip. Israeli army raids and attacks by settlers have killed at least 343 people in the West Bank since then,...

Davos-Klosters, Switzerland--Global economic prospects remain subdued and fraught with uncertainty, according to the latest Chief Economists Outlook released today, as the global economy continues to grapple with headwinds from tight financial conditions, geopolitical rifts and rapid advances in generative artificial intelligence (AI). More than half of chief economists (56%) expect...

Riyadh, Saudi Arabia - The Saudi Arabian Boy Scouts Association will participate in the Republic Day Camp (RDC) in India from January 16 to 29. This is part of the events held by India in conjunction with its presidency of the Group of Twenty (G20) under the theme "One Earth,...

DUBAI, UAE - Worldwide PC shipments totaled 63.3 million units in the fourth quarter of 2023, a 0.3 percent increase from the fourth quarter of 2022, according to preliminary results by Gartner, Inc. This marks the first time that quarterly shipments have increased after eight straight quarters of decline, a...

RIYADH, SAUDI ARABIA – The third edition of the Future Minerals Forum (FMF), organized by the Kingdom’s Ministry of Industry and Mineral Resources, has witnessed the signing of several memoranda of understanding (MoUs) between a number of government agencies, companies and institutions. New exploration sites were announced as well as...

RAMALLAH, PALESTINIAN TERRITORIES / JERUSALEM – Israeli forces carried out Sunday a series of raids in several towns in the West Bank early on Sunday. The forces raided the homes of Palestinian citizens in several towns in Ramallah Governorate and Al-Bireh and carried out extensive arrests, the Palestinian News Agency...

Tehran, Iran-- BRICS is preparing to launch new bonds in global markets, which will be available in local currencies rather than in the US dollar The BRICS bank, known as the New Development Bank (NDB), will soon release the bonds called ‘Maharaja Bonds’ worth $28 billion, IRNA reported on Sunday...

Rafah, Palestinian Territories - Surrounded by family and friends, clapping and cheering, Gaza woman Afnan Jibril beams a brilliant smile on her wedding day, determined to celebrate even as war rages. "We are a people that love life, despite death, murders and destruction," said her father, Mohamed Jibril. Relatives were gathered...

Cairo, Egypt - Nestled in the heart of the historic capital here, a cultural center synonymous with the city's art scene has been razed, the latest heritage site torn down for contentious development projects. Authorities have been aggressively remaking parts of Cairo, a longtime cultural beacon of the Arab world, to...

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in 2023, compared to around 10 million digital transactions in 2022, an increase of about 25 percent. This reflects DEWA’s leading role in supporting the leadership’s vision to make Dubai the...

RIYADH, SAUDI ARABIA - Konoz, an initiative of the Ministry of Media's Center for Government Communication (CGC), has released a documentary called Horizon that, in collaboration with the National Center for Wildlife, highlights the abundance of wildlife and natural resources in the Kingdom. The documentary is currently being shown on...

New York, United States - Music icon Elton John has put a variety of personal items up for auction at Christie's in New York, including monogrammed silver leather platform boots, a grand piano and a triptych by street artist Banksy. Most of the items come from John's former home in Atlanta,...

Washington, United States - The IMF's executive board approved an immediate disbursement of around $700 million for Pakistan Thursday as part of a program to support the cash-strapped South Asian country through an economic crisis. The funds were unlocked after the International Monetary Fund board approved the first review of a...

New Delhi, India - Dramatic drone footage showing Indian commandos hunting pirates after an attack in the Arabian Sea illustrates New Delhi's "significant" expansion of a muscular maritime force reflecting global ambitions, analysts say. The commandos, deployed this month from an Indian-built warship after an attempted hijacking of a merchant bulk...

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) has cancelled the license of First Insurance Brokers Company (First Insurance), an insurance company operating in the UAE. CBUAE struck First Insurance’s name off the Register, pursuant to Article 22 (2) of the Board of Directors Resolution No.15 of...

Dubai, UAE-- The UAE and Costa Rica have concluded negotiations to sign a comprehensive economic partnership agreement. In this connection, Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Manuel Tovar, Minister of Foreign Trade of Costa Rica, have signed a joint statement to confirm...

Washington, US - Consumer inflation in the United States rose more than anticipated in December, government data showed Thursday, underscoring the bumpy road to cooling price increases as the presidential election looms. The Department of Labor's consumer price index (CPI), a key measure of inflation, was up 3.4 percent from a...

DUBAI, UAE -  Rory McIlroy kicked off his year with a sparkling nine-under-par 62 to take a two-stroke lead after the first round of the Dubai Invitational on Thursday. The world number two is playing his first event since the DP World Tour Championship last November, which was also played in...

NEOM, SAUDI ARABIA - The Board of Directors of NEOM has announced Aquellum, a luxury and experiential space embedded within the mountains, and the latest addition to the ongoing regional development in the Kingdom. With its foundations steeped in cutting-edge technology, avant-garde architecture and forward-thinking concepts, Aquellum will offer guests...

RIYADH, SAUDI ARABIA – The Ministry of Industry and Mineral Resources has signed four Memorandums of Understanding (MoUs) with the Democratic Republic of Congo (DRC), Egypt, Morocco, and Russia. One of the aims of these MoUs is to foster international cooperation in minerals between Saudi Arabia and these countries. According...

ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps, which resulted in an all-in yield of 4.779 percent. This marks the first Sukuk issued globally in 2024 and stands as the region's first offering for the year. The final...

Israeli army said Mustafa Thuria was identified in a document found by troops in Gaza to be a member of Hamas's Gaza City Brigade, while Dahdouh was identified as a "terrorist" belonging to Islamic Jihad. The army statement included a copy of a document it said was a list of...

Abu Dhabi, UAE-- Stock markets across the Middle East posted record highs in 2023, with combined gains of $493 billion, propelled by strong performances in the UAE and Saudi Arabia. The UAE led the charge, adding $117.5 billion to its market value, reaching $990.6 billion by the end of last...

Beijing, China - Chinese state-backed experts have found a way to identify people who use Apple's encrypted AirDrop messaging service, according to the Beijing municipal government. AirDrop allows users to send content to Apple devices in close proximity without an internet connection, encoded so they cannot be viewed by other people....

Indian refiners bought 1.45 million barrels per day of Russian oil last month, their lowest amount since last January and down nearly 16 percent from November, according to global energy trade intelligence platform Kpler.

Abu Dhabi, UAE--The UAE Ministry of Investment has signed three memorandums of understanding (MoUs) with India, setting out frameworks for the expansion of bilateral investment cooperation in the renewable energy, food processing and healthcare sectors. The agreements were signed by the respective Indian ministries, underscoring the UAE’s strong commitment to...

Dubai, UAE--The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), signed a memorandum of understanding (MoU) with ‘Zand Digital Bank’ identifying Zand as an approved bank authorised by DLD to oversee real estate development escrow accounts and offer associated services. Real estate escrow accounts are...

GENEVA, SWITZERLAND - The International Air Transport Association (IATA) released data for November 2023 global air cargo markets indicating the strongest year-on-year growth in roughly two years. This is partly due to weakness in November 2022, but also reflects a fourth consecutive month of strengthening demand for air cargo. Global...

RAMALLAH, PALESTINIAN TERRITORIES - Everyone in Gaza is going hungry and about 2.2 million people are surviving day by day on almost nothing, routinely going without meals, said a Jerusalem-based non-profit organization B'Tselem. The desperate search for food is relentless, and usually unsuccessful, leaving the entire population – including babies,...

RIYADH, SAUDI ARABIA - The Saudi Electricity Company (SEC) and its subsidiary National Electricity Transmission (NET) have signed here two agreements with Emaar, The Economic City (EEC) which is the main developer of King Abdullah Economic City (KAEC). The agreement was signed in the presence of Saudi Arabia Minister of...

The annual Consumer Electronics Show gathering boasts more than 3,500 exhibitors and is expecting some 130,000 visitors. Companies big and small hosted previews for the press through Monday, with AI an oft repeated mantra as they pitched products promising better lives.

Riyadh, Saudi Arabia--Jasem Mohamed Al Budaiwi, Secretary General of the Gulf Cooperation Council (GCC), and Josep Borrell, High Representative of the European Union (EU) for Foreign Affairs and Security Policy, have reviewed relations in a meeting in Riyadh. The meeting discussed the latest developments and updates in both the regional...

Manama, Bahrain--The Central Bank of Bahrain (CBB) announced that the monthly issue of the Sukuk Al Salam Islamic securities has been oversubscribed by 372%. Subscriptions worth $426 million were received for the $114.36 million issue, which carries maturity of 91 days. The expected return on the issue, which begins on...

Hong Kong, China - Asian markets stumbled out of the gates Monday, extending last week's grim start to the year, after a forecast-busting US jobs report further dampened hopes for an early interest rate cut. The keenly awaited non-farm payrolls data Friday showed the world's number one economy remains resilient despite...

Washington, United States -- An historic private mission to land on the Moon was facing potential failure Monday due to technical problems, in a blow to America's hopes of placing its first robot on the lunar surface in five decades. Fixed to the top of United Launch Alliance's new Vulcan...

DUBAI, UAE – The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), a part of Dubai Department of Economy and Tourism (DET), has joined forces with Chi-X Digital Assets (CXDA), an AI-based fintech platform. CXDA provides short-term debt products that help generate liquidity, facilitate investment, maximize...

Doha, Qatar--Qatar's non-energy private sector registered broadly stable business conditions in December, the latest Purchasing Managers Index (PMI) survey data from Qatar Financial Centre (QFC) has revealed. Volumes of output, new business and backlogs of work were all largely stable compared with November levels, while employment growth was maintained, and...

Ghassan Abu Sitta -- born in Kuwait and who has lived in Britain since the late 1980s -- arrived in Gaza from Egypt on October 9 as part of a Doctors Without Borders medical team. Abu Sitta said he left Gaza after becoming "redundant" because a lack of medical supplies meant...

MUSCAT, OMAN - As part of its ongoing efforts to support the Islamic banking industry, ahli Islamic signed a Memorandum of Understanding (MoU) with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). The primary goal is to reinforce collaboration in capacity building within ahli Islamic and foster the...

HALEU fuel is needed to power many of the next generation of advanced nuclear reactors, including so-called small modular versions that the UK intends to use. The first plant of the uranium fuel will be in northwest England and is scheduled to be operational by the 2030s, the government said.

Shanghai, China--Shanghai plans to build 200 new smart factories and 20 demonstration sites by end of 2025 after 70 intelligent plants in 2023, officials announced, solidifying its intelligent manufacturing stronghold, according to China Daily report. Covering auto, equipment and IT, this year's batch features life-cycle, process and supply chain enhancements....

Dubai, UAE - The Emirates is to put 84 people on trial for terror-related offenses, state media said on Saturday. The Gulf state's attorney general ordered the trial of "mostly members of the terrorist organization of (the) Muslim Brotherhood", official news agency WAM said. In 2013, the UAE tried 94 activists,...