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  • Qatar Investment Authority raises stake in Credit Suisse to just under 7%

    Qatar's sovereign wealth fund has increased its stake in Credit Suisse (CSGN.S) to just under 7%, becoming the Swiss bank's second-largest shareholder after Saudi National Bank, in a sign that its Gulf investor base is growing in importance. The Qatar Investment Authority (QIA) bought 139.03 million shares in the Swiss lender, Refinitiv data shows based on a filing on Friday with the Securities and Exchange Commission which quoted its most recent ownership holding as of December 31, 2022.

  • First woman pastor in Holy Land ordained

    In many parts of the Christian world, female church leaders are no longer unusual. But until now, the Holy Land - where events in the Bible are set - had not seen a local woman ordained. On Sunday, a Palestinian from Jerusalem, Sally Azar, became its first woman pastor at an event at the Lutheran church in the heart of the Old City, attended by hundreds of international well-wishers.

  • What is Dubai Pearl? The dormant mega-project has been demolished

    If you work around Dubai Media City, chances are you felt the tremors of Dubai Pearl’s destruction early this afternoon (January 23). The troublesome mega-project was once a magnet for investors and the greatest names in hospitality. After failing to get off the ground, the site has been flattened, reportedly taken back by authorities with a new price tag for any investor willing to take it on.

  • Saudi: Amak obtains regulatory nod to explore gold in Aseer

    Almasane Alkobra Mining Company (Amak) received a licence from the Saudi Ministry of Industry and Mineral Resources to explore gold in Aseer province, according to a bourse disclosure. The licence was issued on 18 January 2023 and is valid until 24 November 2027. Meanwhile, the Tadawul-listed firm will explore an area of 34 square kilometres.

  • Saudi Arabia is ‘engaged’ with Russia and Ukraine on path to peace, says Foreign Minister

    Saudi Arabia is engaged in talks with both Russia and Ukraine over ways to end the 11-month conflict, Foreign Minister Prince Faisal bin Farhan has said. The kingdom has played a central role, along with the UAE, in securing prisoner swaps and pressing for talks between the warring sides since Russia invaded Ukraine in February last year. “Our main objective is to find a way to end the conflict. And I think everybody agrees that the only way this conflict will end eventually is at the negotiating table,” Prince Faisal told Bloomberg TV on Thursday from Davos in Switzerland.

  • Dozens of women qualify to drive Haramain Express Train in Saudi Arabia

    The Saudi Railway Company has qualified 32 women to be drivers on the Haramain Express Train Leaders Program, the Saudi Press Agency reported on Sunday. Women expressed their pride in working in this field, with Tharaa Ali Al-Zahrani saying: “Since the polytechnic announced job opportunities last January, I made sure to apply for work, and the personal interview and test took place, and I was accepted as one of the first batch of Saudi female train conductors.”

  • Dubai world’s second best city for expats

    Dubai is the second best city in the world for expats, according to a global report by InterNations. In its Expat City Ranking 2022, InterNations named Valencia, Dubai, and Mexico City as best for expats, saying all do very well when it comes to the ease of settling in.

  • Why Dubai’s F&B sector will be the blueprint for others in the region

    Be ready for even more creative types of F&B experiential dining experiences. The pandemic unleashed our most creative minds, and the hunger to thrive and explore life experiences is being most manifested in F&B. Food has always brought people together. In 2023 it is going to be even more so as people ride in this lucrative sector. Expect more inbound investments as well as expect other emerging markets to try and replicate the Dubai F&B DNA in their major cities. Chefs may be the superstars right now, but it takes an army to run a good restaurant. I am hoping to see more focus on FOH, service and personality coming through rather than just chef-led stories.

  • The Middle East is enjoying an important period of stability as oil prices, economic growth of 5.1% fuel the recovery out of COVID, said Crescent CEO

    The Middle East is enjoying an important period of political and economic stability with the regional economy buoyed by high oil process and economic growth, Majid Jafar, CEO of Crescent Petroleum, told business leaders gathered at the World Economic Forum in Davos on Thursday. Industrial production has improved, employment has begun rising, and tourism is recovering healthily from the effects of the pandemic, fueling healthy growth of up to 5.1% Jafar said.

  • Commentary: Arab and Israeli Positions on Ukraine War Continue to Frustrate the US

    Israel has in many ways proved the biggest disappointment when it comes to US efforts to garner support for Ukraine. Ukraine initially had reason to be hopeful of Israel’s strong backing: both countries have an at least nominally democratic form of government and Ukraine is home to one of the largest Jewish populations in the world (Ukrainian President Volodymyr Zelenskyy is himself Jewish). In addition, Israel’s bête noire, Iran, is taking an active part in the war on Russia’s side, providing Moscow with hundreds of armed drones that have predominantly been deployed against civilian targets and that have boosted Iran’s influence and arms industry. All this, as well as Israel’s close relationship with the United States, may have led Ukraine to expect that Israel would be more supportive.