GCC countries collaborate on comprehensive tourism strategy, leading global recovery post-pandemic with remarkable growth rates and ambitious plans for sustainable development.

"We have to think seriously about doing it this semester," Sanchez told a group of Spanish journalists accompanying him on a tour of three Middle East countries Sanchez had said on March 9 he would propose that parliament vote in favor of this recognition by the end of the current...

Non-oil growth to stay robust, bolstered by a strong non-oil GDP growth in the region's two biggest economies, UAE and Saudi Arabia.

Tokyo, Japan--The UAE exported 44.1 percent, namely 31.3 million barrels, of Japan's crude oil needs in February 2024, according to the Agency for Natural Resources and Energy in Tokyo.The agency, part of the Japanese Ministry of Economy, Trade and Industry, stated that the amount of crude that Japan imported during...

Dubai, UAE -- UAE carrier Emirates defended its title as the fourth most valuable airline brand, with a staggering 30 percent increase in brand value, reaching $6.6 billion, according to Brand Finance, a brand valuation consultancy.With global travel recovering after the peak of the COVID-19 pandemic, airline brands in the Middle East have seen...

Eti Bhasin, a trailblazing restaurateur in Dubai's thriving hospitality scene, navigates challenges with resilience and innovation at her popular eatery, Dhaba Lane.

Dubai, UAE-- Outbound travel from China is estimated to almost double this year, compared with 2023 and will only be 22% below its peak pre-pandemic numbers of 155 million tourists in 2019, who spent over $250 billion overseas, according to Oxford EconomicsFull recovery is expected to materialise in 2025, with...

Dubai, UAE - As China's outbound tourism steadily rebounds from the pandemic's impact, the Middle East is emerging as a preferred destination for Chinese travelers, alongside traditional hotspots like Thailand and Malaysia.Data from online travel agencies including Ctrip, Tongcheng, Tuniu, Mafengwo, and Zuzuche indicates a significant rise in Chinese tourists...

It will be a hub for customers to lift up "digital competence."

Cairo, Egypt-- UAE's President Sheikh Mohamed bin Zayed Al Nahyan and his counterpart from Egypt Abdel Fattah El-Sisi met in Cairo to discuss the close bonds between the two countries and ways to expand them further.The two leaders explored opportunities for further collaboration within the framework of the strategic partnership...

MOSCOW, RUSSIA – US will no longer be able to dictate oil prices in the Middle East, Director of the Russian Foreign Intelligence Chief Sergey Naryshkin said.The Russian official made the statement in the documentary "Oil" on the premier online platform.“The ‘hegemon’ has lost a step. It is no longer...

Blinken is due to travel on to Egypt, which neighbors Gaza and whose envoys have been involved in previous mediation efforts. In Jeddah and Cairo, Blinken will discuss efforts to reach an "immediate ceasefire agreement that secures the release of all remaining hostages", State Department spokesperson Matthew Miller said.

Oxfam said in a report that Israel continued to "systematically and deliberately block and undermine any meaningful international humanitarian response" in the Palestinian territory. It alleged that Israel was defying an order by the ICJ in January to boost aid in Gaza, and was failing its legal responsibility to protect...

The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming. say a latest IEA report.

Istanbul, Turkey - Twenty-two migrants including seven children have drowned after a boat capsized off the Turkish coast, local officials said on Friday.Two people were rescued by the Turkish coastguard and another two managed to make it out of the water on their own, officials said. The victims' nationalities were not...

"We are not near a deal, meaning that we are not seeing both sides converging on language that can resolve the current disagreement over the implementation of a deal," said foreign ministry spokesman Majed al-Ansari. He added that he could not "offer any timeline" on an agreement.

DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the UAE. There's been a significant increase in Indian businesses setting up there, with 28 percent more new companies in 2023 compared to the previous year.This resulted in over 190 new...

Dubai, UAE - The UAE's online shopping market is gearing up for unprecedented growth, with revenue projections hitting $9 billion by the end of 2024 and an impressive $17 billion forecasted for 2025. The trajectory is emblematic of the broader Middle East and North Africa (MENA) region's e-commerce landscape, poised...

Riyadh, Saudi Arabia - The Saudi Air Connectivity Program (ACP) and China Eastern Airlines have entered into a strategic partnership to launch a new air route in an effort to enhance air connectivity between the two countries. Beginning on April 8, China Eastern Airlines will introduce three weekly flights directly...

Doha, Qatar - Doha Bank has successfully issued $500 million in international bonds, garnering a total order book of $2 billion, marking an oversubscription of 4 times. The investor base includes prominent asset managers, banks, private banks, and insurance companies from the United States, Europe, Asia, and the Middle East.The...

Other parts of the Islamic world may be grappling with their own challenges, from conflicts to high inflation. But many Muslims say their thoughts are with Palestinians this year.

Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing for what organizers are terming as "record-breaking" final day with more announcement of investments expected to be made on the occasion. Abdullah Al-Swaha, Saudi minister of communications and information technology,...

Abu Dhabi, UAE--The MENA region's commercial aircraft services market will more than double in value by 2042, according to Airbus’ latest Global Services Forecast (GSF).Growing to US$28 billion from US$12 billion, and registering a 4.4 percent average annual growth, the regional expansion will surpass the global average growth of 3.6...

Dubai, UAE – The Middle East witnessed the highest percentage of new CEO appointments globally, averaging at 16 percent, with Saudi Arabia leading with an impressive 20 percent, a report said.This trend is paralleled by markets such as Poland and Switzerland, with similarly high rates of new appointments, according to...

Dubai, UAE - The Middle East has emerged as a prominent player in global CEO appointments, securing 68 out of a total of 1,221 positions at the largest public listed companies worldwide. Heidrick & Struggles revealed in a report titled "Route to the Top 2023". The countries contributing to these appointments...

Riyadh, Saudi Arabia - About 89% of CEOs in Saudi Arabia are optimistic about the country's economic growth over the next 12 months, surpassing the global average of 44%, the Middle East average of 73%, and the GCC average of 81%, reveals the 27th Annual CEO Survey by the PwC...

Doha, Qatar - Web Summit Qatar 2024, the world's largest tech events debut in the Middle East and Africa, ended on a high note with the signing of 24 memorandums of understanding between Qatari institutions and the most prominent international technology companies, with the aim of promoting innovation and entrepreneurship...

Abu Dhabi, UAE - The Emirates Nuclear Energy Corporation (ENEC) on Friday announced that its operating and maintenance subsidiary, Nawah Energy Company, has successfully started-up the reactor of Unit 4 of the Barakah Nuclear Energy Plant (Barakah Plant).The reactor has begun initial production of heat through nuclear fission, used for...

The airline reported record revenue of US$32.49bn in 2023.

Cairo, Egypt--The Arab League (AL) on Sunday organized a workshop in Cairo to discuss the role of BRICS for African and Middle Eastern countries.Titled BRICS: Potential Roles, Challenges Facing African and Middle Eastern Countries, the one-day workshop discussed new memberships, expectations, and needs related to the mechanism.New BRICS members from...

Dubai, Riyadh - Smartphone shipments in the Middle East and Africa (MEA) region witnessed a remarkable surge, growing by 30% year-over-year (YoY) and 9% quarter-over-quarter (QoQ) in the final quarter of 2023, according to Counterpoint’s Market Monitor Service. The MEA region demonstrated the highest YoY growth globally during this period, attributed...

There was "virtual unanimity for the two-state solution as the only possible solution," Brazilian Foreign Minister Mauro Vieira told journalists at the close of a two-day meeting of foreign ministers from the world's biggest economies. "The only reason (Vieira) didn't simply say 'unanimity' is that not every speaker addressed the...

Dubai, UAE -- Construction costs are set to increase in the UAE by 2-3 percent, and in Saudi Arabia by 5-7 percent in 2024, following an increase of 3 percent and 7 percent respectively in 2023. Increases will challenge construction firms, which will need to develop new processes and capabilities to...

Riyadh, Saudi Arabia - Saudi Arabia topped the UN Tourism’s ranking for the growth of international tourist arrivals in 2023 compared to 2019 among large destinations, achieving an increase of 56%, according to the World Tourism Barometer report released last month.The kingdom recorded a remarkable tourism recovery rate of 156%...

"As the IEA celebrates its 50th anniversary this week, oil supply security remains as critical as ever," said the agency created half a century ago by the OECD to help rich countries weather the 1970s oil crisis which wreaked widespread economic havoc. "Given heightened geopolitical risks and low global oil...

Growth fueled by Ford Territory, F-150 and other models.

Chief Executive James Quincey described consumers in North America as "holding up well," although he acknowledged "a little softening" through 2023 in the United States due to persistently higher prices that have pressured low-income shoppers. Coca-Cola projected 2024 revenue growth of six to seven percent when foreign exchange and the...

"The current military-security situation heralds what is likely to be a more dangerous decade, characterized by the brazen application by some of military power to pursue claims," the report said.

World Bank President Ajay Banga said that "what's going on Gaza, but also the challenges of Ukraine... and the Red Sea" are among the top challenges to the global economic outlook. "When you add variables to what is turning out to be probably the lowest growth of the last 55...

Dubai, UAE -- International Monetary Fund (IMF) chief Kristalina Georgieva has forecasted that the total GDP growth for the Middle East region would reach 2.9 percent this year, surpassing the figures from 2023.Speaking on the sidelines of the pre-summit day of WGS 2024's Eighth Arab Fiscal Forum, Georgieva emphasized the...

From Saudi Arabia to the UAE and Qatar to Kuwait, governments across the region compete to jumpstart industrial sector but doubts remain whether it can be pulled off.

Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But doubts remain whether it can be pulled off.

"The presence of US forces in our region has no justification," Raisi said in a Tehran ceremony ahead of the 45th anniversary of Iran's Islamic revolution on February 12.

"There's a lot of work to be done, but we are very much focused on doing that work and hopefully being able to resume the release of hostages that was interrupted" after a week-long truce in November, he said. The US top envoy, on his fifth Middle East tour since...

Cairo, Egypt -- The potential termination of the UN Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) due to a lack of funds poses a danger for the entire region, Arab League Secretary General Ahmed Aboul Gheit said."The cessation of the work of this UN agency...

The OECD raised its 2024 world economic growth forecast Monday but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices. Global growth "proved unexpectedly resilient" in 2023, reaching 3.1 percent as inflation declined faster than anticipated..

McDonald's cited war in the Middle East as a drag.

On his fifth trip to the region since the war broke out, Blinken will visit Saudi Arabia, Israel and mediators Egypt and Qatar. Ahead of the trip he stressed the need for "urgently addressing humanitarian needs in Gaza", after aid groups have repeatedly sounded the alarm over the devastating impact...

The US secretary of state is expected to discuss a proposed truce hammered out in a Paris meeting in January of top US, Israeli, Egyptian and Qatari officials. The diplomatic push has become more urgent with the surge in attacks by Iran-backed groups in solidarity with Hamas, triggering counterattacks by...

Riyadh, Saudi Arabia--Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), held a virtual meeting with ministers from the region to discuss a strategy for food security in the Middle East.Ministers responsible for agriculture and food security from the GCC countries attended the meeting.The meeting discussed the future...