Finance

EQT sets target for BPEA IX at $12.5 billion

Arnold Pinto 15/08/2024 0

Ambitious aim for private equity fund Stockholm, Sweden-based EQT has announced its target fund size for EQT Private Capital Asia’s BPEA Private Equity Fund IX (BPEA IX) at $12.5 billion. The final size of the fund will be determined based on the outcomes of the fundraising process and could

Defence & Security

Pentagon: US keen to deter regional war in Middle East

Arnold Pinto 15/08/2024 0

40,000 US troops in CENTCOM area Pentagon Press Secretary Air Force Maj. Gen. Pat Ryder has outlined the latest developments in the US strategy to address mounting tensions in the Middle East and prevent the escalation of conflict in the region. Addressing a press conference in Washington, DC, Ryder reiterated that the US has deployed […]

Business Saudi Arabia

Riyadh Air awards ground handling deal to Saudi Ground Services

Arnold Pinto 15/08/2024 0

Contract is worth $400 million Riyadh Air, a Saudi Arabia’s Public Investment Fund subsidiary, has awarded a $400 million contract for ground handling services to Saudi Ground Services as the Saudi carrier prepares for its forthcoming launch. The ground handling services contract, effective from September 1, 2024, spans 4.5 years with an option for a […]

Business

SIXT reports record €1 billion revenue for Q2 2024

Arnold Pinto 14/08/2024 0

Strong growth and earnings drive positive results SIXT SE, the international mobility provider, has reported revenue for Q2 2024, reaching €1.01 billion—a notable 8.9% increase compared to last year. Sixt SE, with its registered office in Pullach near Munich, Germany, is a leading international provider of high-quality mobility services. With its products SIXT rent, SIXT

Defence & Security

US closely monitoring volatile situation in the Middle East

Arnold Pinto 14/08/2024 0

Continues deploying military assets to the region Pentagon Press Secretary Maj. Gen. Pat Ryder held a press briefing in Washington, DC, on August 12, 2024, to address the heightened military posture and recent developments in the Middle East. The briefing came as the United States intensifies its efforts to de-escalate regional tensions and support its […]

Tech

Payment card tech spend to reach $13.6 billion globally by 2029

Arnold Pinto 14/08/2024 0

Propped by banks targeting premium users According to a new study, issuer spending on card technology is projected to surge from $9.8 billion globally in 2024 to an impressive $13.6 billion by 2029. This 39% increase underscores a strategic shift among banks and card issuers. Their aim is precise: to attract high-value customers by introducing […]

Business

Poland buys 96 AH-64E Apache combat helicopters

Arnold Pinto 14/08/2024 0

Deal is worth approximately $12 billion Poland has finalised an agreement with Boeing for the purchase of 96 new AH-64E Apache combat helicopters as the NATO country seeks to beef up its armed forces with advanced military assets following Russia’s unprovoked full invasion of Ukraine. The deal, worth about $12 billion and endorsed by the […]

Sustainability

Baku hosts inaugural Climate Action Week ahead of COP29

Arnold Pinto 13/08/2024 0

Partnering with London Climate Action Week With anticipation mounting for COP29 (November 11 to 22, 2024) in Baku, Azerbaijan, the host city is set to organise the inaugural Climate Action Week from September 30 to October 4. The week aims to galvanise support and foster climate-issue dialogue ahead of the United Nations Climate Change Conference. […]

Appointments Logistics

Magma Aviation appoints Peter Kerins as new CEO

Arnold Pinto 13/08/2024 0

2 new freighters added to air cargo fleet Magma Aviation, a leading air cargo solutions provider, has appointed Peter Kerins as its new CEO. With over 30 years of experience in aviation and logistics, Kerins will spearhead the London, UK-backed company’s global expansion and operational strategy. Kerins’ career began in freight forwarding sales in 1991 […]

Events

Global news media collaborate for World News Day 2024

Arnold Pinto 13/08/2024 0

Under the theme of ‘Choose Truth’ More than 500 premier news organisations worldwide—including Middle East News 247—are participating in World News Day 2024, a global campaign to amplify the power and impact of fact-based journalism. Commemorated on September 28, 2024, under the theme of ‘Choose Truth’, the forthcoming event is set to become a cornerstone […]

Defence & Security

Second US Carrier Strike Group deploys to Middle East

Arnold Pinto 13/08/2024 0

Amidst rising tensions in the region US Secretary of Defence Lloyd J. Austin has ordered the deployment of the Nimitz-class nuclear-powered aircraft carrier USS Abraham Lincoln Carrier Strike Group (CSG), equipped with advanced Lockheed Martin F-35C fighter jets, to the volatile Middle East region. This follows unprecedented rising tensions in the region, principally

Travel

Paris tops list of celebrity vacation hotspots

News Desk 2 12/08/2024 0

Dubai trails second-placed Tokyo A new study has unveiled the top vacation destinations globally favoured by celebrities, using metrics such as Instagram hashtag counts, Google search volume, the average cost of a one-night stay, and the number of sunny days per year. The research reveals that Paris, France, is the leading celebrity vacation spot. 1 […]

Aviation

Lebanon faces rising airspace risks amid conflict escalation

News Desk 2 12/08/2024 0

Airlines start taking countermeasures Tensions between Israel and Lebanon-based Hezbollah have escalated significantly, leading to increased risks for commercial aircraft operating in Lebanese airspace. Recent developments have prompted several global airlines to suspend flights to Beirut’s Rafic Hariri International Airport (OLBB). Canada has issued a new notice

Transport

Dubai sees surge in public transport use in H1 2024

Arnold Pinto 12/08/2024 0

Metro, taxis, and public buses prove popular Approximately 361 million riders utilised various modes of public transport in Dubai, the United Arab Emirates (UAE), in the first half of 2024, representing a 6% increase from the 340.5 million riders in the first half of 2023. Dubai’s public transit modes include the metro, tram, public buses, […]

Space

iSpace and Komatsu to develop lunar construction equipment

Arnold Pinto 12/08/2024 0

Under Japan’s Stardust programme iSpace, a leading player in lunar exploration, and Komatsu, a prominent global construction and mining equipment manufacturer, have announced a groundbreaking consulting agreement to design specialised equipment for use on the Moon’s surface. The consulting agreement between the two Japanese companies signifies a pivotal step toward

Cybersecurity Gitex

UN member states finalise landmark cybercrime treaty

Arnold Pinto 11/08/2024 0

As digital threats proliferate worldwide The UN Office on Drugs and Crime (UNODC) has announced that the United Nations (UN) member states have finalised a groundbreaking treaty targeting cybercrime. The draft treaty approved by nearly 200 UN member states aims to bolster international cooperation and enhance law enforcement capabilities in addressing a wide range of […]

Thought leadership

Women in the Middle East must seize lucrative blockchain careers

News Desk 2 11/08/2024 0

EXCLUSIVE: By Zina Ashour, Founder, Women In Crypto Arabia The blockchain industry is rapidly transforming the global economic landscape, offering innovative solutions and new career opportunities. This emerging field presents a unique chance for women in the Middle East to break traditional barriers and build successful careers. As the founder of Women in Crypto Arabia,

Health

WHO study highlights lifesaving impact of Covid-19 vaccines

Arnold Pinto 11/08/2024 0

40+ Olympic athletes test positive With Europe experiencing a new wave of Covid-19 cases this summer, a new study by WHO/Europe has underscored the crucial role of vaccines in combating the pandemic. Published in The Lancet Respiratory Medicine, the study reveals that Covid-19 vaccines have significantly reduced deaths across the European region, saving over 1.6 […]

Aviation

Emirates deploys a refurbished Boeing 777

Arnold Pinto 11/08/2024 0

Dubai carrier is updating its passenger aircraft fleet Emirates has rolled out its newly refurbished Boeing 777 passenger aircraft. The aircraft, which has undergone a complete cabin overhaul, made its inaugural flight as a refurbished aircraft from Dubai to Geneva on August 7, 2024. Emirates’ in-house engineering team executed the extensive 37-day refurbishment of

Markets

Why is the global news app industry booming?

News Desk 2 10/08/2024 0

Let’s take a deep dive for the answers The global news app industry has experienced significant growth in recent years, fueled by the increasing demand for real-time information, the proliferation of smartphones, and the shift towards digital content consumption. As traditional media outlets face challenges, news apps have emerged as a crucial platform for delivering […]