Riyadh, Jeddah among world’s least expensive cities

• Key global reports list Saudi Arabia's Riyadh and Jeddah among the world's least expensive cities for living. TRENDS finds out the cost of living in other cities of the Kingdom
• Affordability and stability of Saudi cities make them attractive destinations for both locals and expatriates seeking a cost-effective living environment, TRENDS points out

Saudi Arabia aims for 30% marine reserves by 2030

• Saudi Arabia is collaborating with regional countries and the International Maritime Organization to establish the Red Sea as a special marine zone by 2025
• The Kingdom has implemented a circular strategy for the carbon economy and introduced a new waste management law to increase recycling rates

Tourism turns the Kingdom into a rising global star

Sharjah records first half real estate deals worth $3.65 billion

• A total of 40,483 transactions took place in the first half of 2023, and the value of real estate mortgages amounted to AED4.1 billion ($1.12bn)
• The number of sales transactions in the various regions of the emirate during H1 2023 reached 4,187 transactions, with a value of AED5.7 billion ($1.55bn)

Rise in foreign sukuk offset by local currency decline

• Saudi Arabia's reduced banking liquidity and lower oil prices have led to a decline in local currency sukuk, but a surge in foreign currency issuances, says a report
• A new report by S&P Global Ratings indicates mixed activity levels, suggesting the need for harmonization of Sharia standards to attract non-core jurisdictions

Middle East tackles AI hurdles, embraces opportunities

• The region, rich in history and culture, is expected to accumulate substantial global AI benefits, reshaping its traditional sectors and driving innovation, reports suggest
• Tradition and technology harmoniously coexist in Middle East as it stays committed to AI integration despite some industries grappling with implementation challenges

Saudi Arabia, Japan sign 26 new cooperation deals

• The deals signed during Japanese Prime Minister Fumio Kishida's official visit to Saudi Arabia reflect the shared commitment to the Saudi-Japanese Vision 2030
• The two nations' trade volume reached $47.489 billion in 2022 as Saudi Arabia continues to be a key energy partner to Japan, providing 40 percent of its oil needs

ADX grew 20 percent in 2022, says CBUAE

• The Abu Dhabi Securities Exchange (ADX) trading value increased by 21.9 percent to AED 451 billion ($122.78bn)
• Foreign investment in ADX increased, with total net foreign investments recording an inflow of AED 24 billion ($6.53bn) in 2022

Dubai to expand EV charging points by 170 percent till 2025

• Dubai Electricity and Water Authority aims to grow the city’s network of public charging stations by 170 percent in less than three years.
• The emirate’s Clean Energy Strategy 2050 and Net Zero Carbon Emissions Strategy 2050 seek to generate 100 percent of its power from clean energy sources by 2050.

AI and real doctors review medical cases in China

• In the 91 cases reviewed, an AI doctor, "MedGPT", and the attending doctors reached 96 percent agreement on case results
• There were seven departments and eight consultation desks on-site, including two cardiology units, urology, orthopaedics, etc