The firm's revenue rose 14 percent to nearly US$2.4 billion.

"Dear Mr President, I am very glad to see you in Moscow. Thank you for accepting our invitation," Putin told Assad at the start of their meeting broadcast by state TV. "We are in constant contact and our relations are developing."

Iran has been under renewed US sanctions since then president Donald Trump abandoned a landmark nuclear agreement between Tehran and major powers in 2018. Saudi Arabia, a longtime US ally, has said it supports the sanctions, which target key areas, including oil.

Dubai, UAE - Apple has lost ground in the Middle East smartphone market during 2022 to main rival Samsung, according to research by Canalys.  Samsung has enhanced its share in the smartphone market in the Middle East to 40 percent in 2022, up from 34 percent in 2021, while Apple...

Abu Dhabi, UAE--Commending the UAE for being in the forefront of the drive to improve gender balance in the country, Iva Hamel, the World Bank representative in the UAE, said the UAE is the most progressive country in the Middle East and North Africa in terms of women’s empowerment. She...

There is chaos in the crypto market and the dust rises with an episode of failure, but failures must not be generalized, says Don Tapscott of Blockchain Research Institute.

Dubai, UAE -- The Middle East fragrances market is expected to reach $4.41 billion in 2027, from $2.85 billion in 2019, growing at a CAGR of 7.4 percent from 2020-2027, a report said. Over the past couple of years, however, the traditional mass-market fragrance business has witnessed a decline in its...

Significant technology development is going on in the climate space in the UAE, distinguished Professor Laura D'Andrea Tyson tells TRENDS in an interview.

Iraq has scuttled a big smuggling operation of bringing into the country a large consignment of three million pills of captagon, an amphetamine-type stimulant sweeping the Middle East for year, near the Syrian border. The pills had been hidden in apple crates and discovered at the Al-Qaim crossing near Iraq's...

Around one-third of countries are likely to go through a recession, Sir Masood Ahmed, President of the Center for Global Development, tells TRENDS in an interview.

ABU DHABI, UAE - etisalat by e& announced on Saturday the implementation of the Eutelsat Quantum satellite solution, becoming the first telecommunications company in UAE to expand 5G network capabilities over a software-defined satellite. This will give customers access to high speeds, enhanced coverage and scalability to meet future demands...

Surprise Saudi-Iran detente, midwifed by China, has gone against the drift of Austin’s visit to the Middle East which was largely premised on an abiding antagonism between the two countries.

Technology remained GCC's most active industry sector in terms of hiring, with 77 percent of organizations increasing their headcount last year, latest reports point out.

US Defense Secretary Austin also visits Baghdad to assure US support for Iraqi security, stability, and sovereignty ahead of the 20th anniversary of the US-led invasion.

The facility will be constructed at Dubai Industrial City.

Ras al Khaimah, UAE-- Sunreef Yachts Middle East has signed a cooperation agreement with RAK Maritime City for the development of a new facility in Ras Al Khaimah. The signature ceremony was in the presence of sheikhs, dignitaries and industry professionals. This initiative is an opportunity for both parties to...

Pentagon Press Secretary Brig. Gen. Pat Ryder said the trip would "reaffirm the enduring US commitment to the Middle East region."

Lack of relevant skills, constant innovation in a highly disruptive world while keeping in mind budget constraints and cybersecurity remain their key concerns, says an expert.

Head of the ministry's foreign trade department Ronnarong Phoolpipat told a press conference that the value of rice exports rose 78.76% to $406.72 million in January year-on-year.

Jordanian state broadcaster Al-Mamlaka said the meeting, which kicked off in the Red Sea resort of Aqaba, was "the first of its kind in years between Palestinians and Israelis with regional and international participation" and would address "the situation in the Palestinian territories". Palestinian intelligence chief Majed Faraj and the...

The envoy made these remarks during a ceremony at the Japanese embassy in Amman while celebrating Japan's national day.

Dubai, renowned for its towering skyscrapers and ultra-luxury villas, saw record real estate transactions in 2022, largely due to the influx of wealthy investors - especially from Russia. That helped to rake in more than $140 billion last year, marking a 76 percent annual rise in property market transactions for...

In 2023, some Middle Eastern economies appear to be more resilient than most developed markets, Maroun Kairouz, Director for MENA at the World Economic Forum, tells TRENDS.

Luxembourg--European Investment Bank (EIB) Global, a branch of European Investment Bank, announced on Monday that it will provide $27 million participation in the $150 million Middle East Venture Fund. This is the largest ever venture capital engagement by the EIB in the Middle East. The new venture capital fund launched...

It had raised $750m through the sale of its debut sukuk in Nov 2022.

Hong Kong-- Hong Kong is looking to persuade oil giant Aramco and its units to consider a secondary listing in the Asian financial hub. Hong Kong Chief Executive John Lee is embarking on his first official visit to the Middle East, according to the South China Morning Post. Lee is...

At the moment, the market is solidly Dubai, which is recognised as the world leader in branded residential offerings with all eyes on the city’s upcoming openings. The slower approach of Abu Dhabi will be something to watch as it makes large-scale investments into the luxury sector, he adds.

The latest data from the United Nations World Tourism Organisation (UNWTO) shows that global tourist travel in 2022 was 37 percent lower than 2019.

There’s a critical mass of shoppers who talk of making a difference with their purchases. Consumers are willing to pay more for products with a positive environmental impact or health benefits. For younger people millennials in particular, sustainable shopping is a mainstream preoccupation, they add.

Lebanon, whose flag bears a cedar tree, is known for its greenery, with forests covering 13 percent of its territory.

US Secretary of State Antony Blinken met Israeli and Palestinian leaders on his Middle East tour aimed at curbing the outbreak of violence in the region. Blinken met Israeli Defense Minister Yoav Gallant and said that the US is committed for the Jewish state's security. Gallant called the US official...

Francis, 86, cited 10 Palestinians, including a woman, killed in an Israeli army raid on a refugee camp in the West Bank, and an attack Friday by a Palestinian gunman that killed seven Israelis.

US Secretary of State Antony Blinken arrived in Egypt at the start of a Middle East trip on which he will look to notch down Israeli-Palestinian tensions after an eruption of violence. Blinken, who will travel Monday and Tuesday to Jerusalem and Ramallah after his stop in Cairo, had planned...

DUBAI, UAE- Dubai is fast emerging as the city of choice for destination weddings, with a growing number of event planners across the world recommending the city to couples as the perfect venue for their marriage. This is in line with the efforts aimed at boosting the emirate's stature as...

The American Glazer family, United's owners, began looking for new investment with British billionaire Jim Ratcliffe's company INEOS entering the bidding process.

The UN drugs agency noted that an increase in cases of human trafficking had been observed in Bangladesh and the Philippines after devastating cyclones and typhoons displaced millions.

The region's SWFs more than doubled their investments in Western economies to $51.6 billion in 2022 from $21.8 billion a year earlier, says the latest Global SWF report.

Geneva, Switzerland-- Middle Eastern airlines had an 84.6 percent growth in traffic in November compared to the same month in 2021, according to a recent report by the International Air Transport Association (IATA), which also noted that global air travel recovery continued throughout the month. Globally, traffic is now at...

The Ras Laffan Petrochemicals Complex, which will produce 2.1 million tonnes of ethylene a year along with 1.7 million tons of polyethylene derivatives, will come on stream in 2026. The complex will have "lower waste and greenhouse gas emissions" than similar facilities around the world, said Saad Sherida al-Kaabi, Qatar's...

Seven industries - advanced manufacturing services, retail, banking, energy, healthcare, consumer products, and automotive - are poised to be the key gainers, says a report.

Abu Dhabi, UAE--The bilateral trade between Pakistan and the United Arab Emirates is expected to double from the US$10.6 billion, according to Pakistan's ambassador to the UAE Faisal Niaz Tirmizi. The last calendar year recorded a US$10.6 billion in trade “the highest volume Pakistan had in the Middle East and...

The airline launched 16 new destinations and 30 new routes.

The UAE, which launched diplomatic ties with Israel in 2020, "strongly condemned the storming of Al-Aqsa Mosque courtyard by an Israeli minister", in a foreign ministry statement. The US ambassador to Israel, Tom Nides, said Washington "has made it clear to the Israeli government it opposes any steps that could...

The Middle East and Africa coffee market is projected to grow at a CAGR of 7.5 percent between 2022 and 2027.

Dubai, UAE-- Dubai Chamber of Commerce has announced the launch of the Cloud Computing Business Group, which will focus on promoting the development of cloud computing companies. The Chamber said that by providing a forum that facilitates mutual dialogue between the sector stakeholders and government entities, the business group will...

Abu Dhabi, UAE-- The ground breaking of a 450,000 sqm integrated Metal Park in Abu Dhabi was attended by senior executives from the Khalifa Economic Zones Abu Dhabi – KEZAD Group, the integrated trade, logistics, and industrial hub of the emirate. The Metal Park Investment ME's Park will be equipped...

Kuwait City, Kuwait-- Kuwait National Petroleum Company has exported the first shipment of the advanced diesel fuel to the European markets in light of the severe shortage of energy sector in the continent. Kuwaiti media reports said the company shipped 66,000 tons, and the shipment was produced with special specifications...

Insurance claims are the ‘moment of truth’ for the customer and the biggest cost in the potential profit and loss, especially for retail businesses. That is why getting it right matters, the two experts highlight, referring to one of the latest research conducted by Arthur D. Little.

With 283 deals worth $23.8 billion in the first three quarters of 2022, the region’s M&A activity has returned to pre-pandemic levels, a BCG report has highlighted.

The adoption of digital currencies can help open new business segments as the use of these assets increases with time, Daniel Takieddine, CEO of MENA BDSwiss, tells TRENDS.