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  • UAE-Israel Economic Ties Proliferate in the Wake of Normalization

    Abu Dhabi-based Group 42, an artificial intelligence and cloud computing company, was one of the first companies in the UAE to announce plans to establish a wholly owned subsidiary in Israel. G42 operations in Israel will focus on coronavirus diagnostics, artificial intelligence, agricultural technologies, water supply solutions, smart cities, and renewable energy. The Emirati company already had formed partnerships with Israeli firms to develop technology solutions for combating the coronavirus.

  • Saudi Arabia to allow 250,000 domestic pilgrims to perform Umrah

    The second phase of Umrah will begin on October 18, while the third phase, which allows pilgrims from outside the Kingdom, will begin on November 1, local media reported. The mechanism for the quota selection from countries will be announced later.

  • GCC tax authorities seek to boost mutual cooperation

    In a virtual meeting held on Monday at the GCC General Secretariat, GCC tax chiefs also discussed ways to enhance cooperation to implement two unified agreements for value-added tax (VAT) and selective tax in the GCC states, in a way that contributes to facilitating trade exchange among the GCC member states.

  • Saudi female footballers excited about the upcoming league

    “I’m honestly very proud that women found a lot of support in pursuing their dreams in sports and our families can be proud of us for doing so,” she said. “It’s a good feeling, even though we’re a bit later than other countries, but at least we got to where we are now for women and I couldn’t be more proud.”

  • GCC Syndication Has Potential to Become a Permanent Vehicle for Sukuk: S&P

    Syndicated deals executed in the first half of 2020 totalled $50.1bn in the core Islamic finance countries, representing about 40% of total transactions in 2019. By contrast, total sukuk issuance dropped 27% in the first half of this year. The rating agency has observed some improvement recently however, suggesting that the steep drop in sukuk issuance volumes might not be indicative of the market’s full-year performance.

  • Oil recovering from ‘worst time in my generation,’ says Aramco’s Nasser

    “We have intensified our cost discipline and are focusing on capital flexibility. We are being very prudent when it comes to capital spending, adhering to strict capital discipline. We are looking at all of our projects and stretching some discretionary ones out where necessary, while maintaining our maximum sustained capacity of 12 million bpd. Also, we are continuing to expand our gas portfolio in the Kingdom,” Nasser said.

  • Chevrolet’s Corvett Stingray has arrived in the Middle East

    Though Chevrolet showcased three new vehicles at the last Dubai International Motor Show, all eyes were on the 2020 Corvette Stingray, then slated to ship to the UAE mid-2020. But then a global pandemic hit, and everything changed. Fortunately, the brand has said that orders should start making their way to roads in the Middle East starting next month.

  • Middle East construction industry ‘in crisis’, more casualties loom, warns expert

    Linn said: “The concern is that the industry is very fragmented and the Arabtec collapse could potentially affect many subcontractors. Moreover many of these companies also subcontract to the other major contractors in the region and if they start to tumble this could have a significant knock-on effect across the entire construction industry.”

  • Oman plans to introduce VAT in April as it battles budget deficit

    Historically, about 80 percent of Oman’s revenue has been generated by the exports of oil and its derivatives. Economic diversification and developing non-oil based revenue streams in order to reduce reliance on hydrocarbons has been on Oman’s agenda for the past period. Measures such as the Tanfeedh programme and Oman Vision 2040 have already been rolled out to promote non-oil based sectors such as fisheries and aquaculture, transport and logistics, manufacturing, mining and tourism.

  • Opinion: The Gulf Arabs Weary of Protesting for Palestine

    Meanwhile, Israel’s own cultural output, long inaccessible in the Arab world, has found millions of Arab viewers on streaming platforms such as Netflix. “Fauda,” a spy thriller about an Israeli undercover team operating in the West Bank and Gaza that tries to bring nuance and humanity to characters on all sides, has become one of the most-watched shows in the UAE, Lebanon and Jordan.