France implements short-haul flight ban. Image credit: Groupe ADP

France short-haul flight ban comes into effect: What it means for travellers

Domestic flight journeys that can be completed by train in less than two-and-a-half hours banned by French Transport Ministry

Meta offloads Giphy for a loss. Image credit: Getty Images

Meta unloads Giphy to Shutterstock at a loss of more than $260m

Facebook’s parent company Meta announced the sale of Giphy after its purchase of the GIF maker was blocked by competition regulators in the UK

Cold storage in Meta data center. Image Credit: META

Meta fined record $1.3bn in EU over US data transfers

The Meta fine coincides with the fifth anniversary of the EU’s General Data Protection Regulation, widely seen as the world’s benchmark for privacy

INR2000 denomination currency withdrawn by India's central bank - the RBI. Image Credit: Getty Images

What does India’s decision to withdraw INR2000 currency note mean?

The 2000-rupee note will remain legal tender, but citizens have been notified to deposit or exchange these notes

G7 annual summit was held in Hiroshima, Japan. Image Credit: MOFA, Japan

G7 Hiroshima Summit: Financial stability, energy transition and AI in joint statement

The G7 summit saw leaders speak on the banking turmoil, cryptocurrency markets, generative artificial intelligence and climate change

King Salman and Prince Mohammad bin Salman invite members to the 32nd Arab League Summit. Image Credit: Saudi Arabia's MOFA

Arab League Summit begins in Jeddah

The 32nd Arab League summit brings together 22 member countries and five observer nations in Saudi Arabia’s coastal town

UAE-UK Sheikh Abdullah bin Zayed Al Nahyan and James Cleverly meet for the Strategic Dialogue between the UAE and UK. Image Credit: MOFAIC

UAE-UK inaugural strategic dialogue: key takeaways

The strategic dialogue builds on the 2021 bilateral meet during which the two countries agreed to establish a partnership for the future

BT

BT announces plans to cut up to 42% of jobs by 2030

Chief executive officer Philip Jansen has been quietly shrinking the workforce over the last five years as he works to grow profit

Malaysia

MDEC: $2.8tn ripe for digitalisation in global Islamic economy

Muslims worldwide estimated to spend $2.8tn by 2025 on Islamic faith-inspired consumption needs – and Malaysia looks to capture digitalisation opportunities in the sector through MDEC

Walt Disney

Disney begins second round of job cuts, affecting thousands

Disney’s latest job reductions are part of chief executive officer Bob Iger’s ambition to save $5.5bn in annual costs

Sudan

Thousands flee Sudan fighting as countries pull out diplomats

The UK and US militaries airlifted their diplomats to safety, with the US ferrying consular staff in MH-47 Chinook helicopters

UAE, Germany

UAE, Germany explore partnerships to build on industrial ties and climate efforts

Ministry of Industry and Advanced Technology hosts around 30 German companies to discuss expanding cooperation in fields such advanced technologies and de-carbonisation

100 most powerful arabs 2023

Top 100 most powerful Arabs 2023

This year’s power list honours Arab leaders driving and shaping growth in industry, sports, entertainment, and culture from across the region and beyond

EFG Hermes exit Oman

EFG Hermes shuts Oman operations

The universal bank said the move comes in light of its efforts to drive shareholders’ value by optimising its operations and improving the return on equity metric

IMF April WEO update

Global growth to fall from last year: IMF

The latest IMF World Economic Outlook update found that recession concerns have gained prominence, while worries about stubbornly high inflation persist

Egypt

Egypt inflation surges to highest since July 2017 on food prices

On a monthly basis, prices grew 2.7 per cent, compared with 6.5 per cent in February

TotalEnergies, Iraq deal

Iraq, TotalEnergies to proceed with $27bn energy project

The energy project aims to recover flared gas on three oil fields in order to supply power plants and build a seawater treatment plant to increase oil production

World Bank Egypt

World Bank approves five-year plan to support Egypt development

The framework’s projects will be supported with $7bn in lending, comprising of $1bn a year from the International Bank for Reconstruction and Development

Delhi

Earthquake hits Afghanistan, strong tremors felt in Delhi-NCR

There was no immediate report of any deaths or property damage

Islamic Digital Economy

Startups injecting fresh innovations to Malaysia’s Islamic Digital Economy

The ASEAN nation continues to be an excellent market for Islamic fintech players to make a mark in the region

Silicon Valley Bank UK

HSBC acquires Silicon Valley Bank UK for less than Dhs5

The assets and liabilities of the parent companies of SVB UK are excluded from the transaction

Nomo

Digital Islamic bank Nomo launches multi-currency accounts

First available in Kuwait, the multi-currency accounts will soon roll-out in phases to customers across the GCC

Africa Energy Expo

Informa Markets to launch Africa Energy Expo in 2024

The expo aims to support Africa’s COP27 climate commitments and align with the Africa Power Vision by bringing together key energy stakeholders

EgyptAir

EgyptAir takes delivery of Africa’s first Airbus A321neo

The A321neo brings 20 per cent reduction in fuel consumption and emissions per seat

Investcorp Tokyo Japan

Bahrain’s Investcorp launches presence in Japan

The firm has appointed Professor Heizo Takenaka as the chairman of Investcorp Japan

Tajikistan-China

Magnitude 7.2 earthquake strikes Tajikistan-China border

It occurred near the border between the northwestern Chinese Xinjiang Uyghur Autonomous Region and Tajikistan’s Gorno-Badakhshan

quakes hit Turkey

Fresh quakes hit Turkey, two weeks after disaster

A 6.4 and 5.8 magnitude earthquakes hit the country’s southeastern Hatay province on Monday

Ministry of Defence

UAE’s Ministry of Defence ends rescue and search activities in Turkey

During the operation, the team managed to rescue 10 people and recover 26 bodies

UAE President sends additional $50m in releif aid to Syria -e1674207563941

UAE President orders additional $50m in relief aid for Syria

The UAE is continuing to send relief supplies to Syria and Türkiye, with more than 70 flights sent to both countries so far, carrying food, medical supplies and other items

Sturgeon

Scotland’s Sturgeon to resign as first minister

It’s unclear when she plans to leave office