SalamAir, Oman’s first low-cost airline, has announced plans to grow its fleet by adding 10 new aircraft over the next three years, driven by a rising demand for affordable travel. The airline has officially requested 10 Airbus A320 planes from various leasing companies as part of…
Restaurant and café owners in Jordan are urging the government to lift the ban on shisha, the popular waterpipe smoking device, after a noticeable decline in demand, particularly in tourist restaurants. The call comes as Jordan’s tourism sector struggles, with figures showing a 4% drop in…
Saudi Arabia is focusing heavily on high-end tourism to establish itself as a premier global destination, with plans to invest $800 billion in expanding its tourism sector. The country has partnered with Arsenale Group, known for Italy’s La Dolce Vita Orient Express project, to introduce the…
Dubai Taxi Company has declared a total dividend payout of AED282 million ($77 million) for 2024, reflecting a strong financial performance and a nearly 50% increase in its share price since its listing on the Dubai Financial Market (DFM) in December 2023. For 2024, the company’s…
Baykar, one of Turkey’s leading defense industry companies, has recently issued a public warning about an increase in fake investment offers. The company highlighted the need for caution regarding investment frauds that use the Baykar name on social media platforms and websites. How Do Fake Investments…
ANKARA, Turkey (AP) — In a clear signal of an escalating clampdown on dissent, prosecutors on Wednesday summoned two prominent figures from Turkey’s business community after they harshly criticized President Recep Tayyip Erdogan’s administration. Orhan Turan, who heads the Turkish Industry and Business Association (TUSIAD), and…
Brazil, the largest oil producer in South America, has officially joined the Opec+ group, which includes more than 20 countries working together to manage global oil output. The country’s membership, which was first announced in November 2023, has now been formalized, according to a statement by…
By Pramod KumarFebruary 19, 2025, 2:26 PM Passenger traffic at Queen Alia International Airport (QAIA), Jordan’s busiest aviation hub, saw a strong recovery in January, with a 13% year-on-year increase, according to the Jordan Times. Data from the Airport International Group (AIG) revealed that 784,992 travelers passed through QAIA last month, marking a…
Saudi Arabia’s Acwa Power has announced plans to build, own, and operate a 2-gigawatt (GW) wind power generation plant in South Hurghada, Egypt. The project, worth SAR8.6 billion ($2.3 billion), is expected to generate enough power to supply nearly 2 million homes. Acwa Power, listed on…
Opec+ is poised to lose market share to non-Opec oil producers, particularly the US, which is not bound by production quotas. The market share of Opec+ members, which stood at 53% when the group was formed in 2016, is expected to decline to 46% by 2025…
Edward is a seasoned economic analyst with over a decade of experience in financial journalism. He specializes in macroeconomic trends, global markets, and policy analysis, offering readers deep insights into the forces shaping the world economy. His work has been featured in leading financial publications, and he is known for his ability to break down complex economic concepts into understandable narratives.
Global stock markets saw a strong rally today following the release of optimistic inflation data. The latest reports indicate a slowdown in price increases, fueling investor confidence and raising hopes of a more stable economic outlook. Analysts suggest that central banks may reconsider aggressive interest rate hikes, further boosting market optimism.
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