News
The Suez Canal: A Lifeline for the GCC’s Economic Diversification
The Suez Canal, a vital artery of global trade, plays a crucial role in the economic well-being of the Gulf Cooperation Council (GCC) countries. While the GCC is renowned for its oil and gas reserves, economic diversification is a key priority for the region’s future. Here’s how the Suez Canal factors into this equation: Shorter […]
A World of Timekeeping: Exploring Countries with Unique Calendars
While the Gregorian calendar reigns supreme in most corners of the globe, a surprising number of countries adhere to their own distinct timekeeping systems. These calendars, steeped in tradition and cultural significance, offer a glimpse into diverse ways of marking the passage of time. One such example is Ethiopia, where the Ethiopian calendar thrives. This […]
Islamic Finance: Shariah-Compliant Banking and Insurance in the Middle East
The Middle East is a thriving hub for Islamic finance, offering financial products and services that adhere to Shariah law. Shariah-compliant finance is guided by principles that include the prohibition against interest (riba), speculation (gharar), and investment in unethical industries. Let’s examine two key sectors within Islamic finance: Shariah-Compliant Banking Islamic banks operate under an […]
Dubai Bans E-scooters on Metro and Tram for Safety
In a move to prioritize safety, Dubai’s Roads and Transport Authority (RTA) has announced a ban on e-scooters inside the Dubai Metro and Dubai Tram. This decision took effect on March 1st, 2024. Reason for the Ban The ban comes after recent incidents, including a fire hazard caused by an e-scooter on a metro train. […]
Navigating Bookings and Payments for Your Trip to Iran
Iran’s vibrant culture, rich history, and stunning architecture make it a popular destination for many adventure seekers. However, travelers should be aware of its unique circumstances regarding financial transactions. Due to sanctions, Iran is disconnected from the global banking system, which means some things will require special preparations. Here’s a guide to managing your bookings […]
Navigating the Gulf: A Guide to VAT in UAE and Saudi Arabia
For businesses operating in the Middle East, understanding Value Added Tax (VAT) in both the United Arab Emirates (UAE) and Saudi Arabia is crucial. While both countries implemented VAT in 2018, key differences exist. Let’s delve into the specifics: VAT Rates: UAE: Boasts a standard rate of 5%, making it a relatively attractive market for businesses. Saudi […]
Beyond Black Gold: Unveiling the GCC’s Non-Oil Boom
The Gulf Cooperation Council (GCC) region, synonymous with oil wealth for decades, is undergoing a fascinating transformation. Recognizing the finite nature of fossil fuels, GCC nations are actively diversifying their economies, venturing beyond oil into exciting new territories. So, what’s brewing in the non-oil sector of the GCC? Economic Diversification Takes Center Stage: Gone are […]
The Strait of Hormuz: A Narrow Passage with a Wide-Reaching Impact on the GCC Economy
Imagine a narrow artery carrying the very lifeblood of an entire region. That’s the Strait of Hormuz for the economies of the six Gulf Cooperation Council (GCC) countries – Saudi Arabia, Kuwait, Qatar, Bahrain, Oman, and the United Arab Emirates (UAE). This seemingly tiny waterway holds immense strategic and economic importance, impacting not just the […]
When Deserts Cry: Unveiling the Rise of Rainfall in Oman, Saudi Arabia, and the UAE
For centuries, the scorching deserts of the Arabian Peninsula have been synonymous with aridity. Yet, in recent years, a shift has been brewing – rain, both seasonal and unseasonal, is falling with increasing frequency and intensity across Oman, Saudi Arabia, and the United Arab Emirates (UAE). This once unthinkable phenomenon is raising eyebrows, sparking scientific […]
UAE Weathers the Whiteout: Hailstorm Makes its Mark on Al Ain and Abu Dhabi
Hailstorm hits Al Ain and Abu Dhabi, bringing heavy rain and disruption (UAE). On February 12th, 2024, a significant hailstorm swept across the United Arab Emirates, impacting the cities of Al Ain and Abu Dhabi. The event, characterized by heavy rain and large hail stones, resulted in localized flooding, property damage, and disruptions to daily […]