Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
Business
Economy
$800bn investments set to bolster Saudi tourism
"The Kingdom will invest more than $800 billion during the next 10 years", added the minister, noting that tourists may...
- Saudi Arabia's tourism sector, fueling a 4.45% GDP growth, is set for an $800 billion investment boost over the next decade.
- Despite the global pandemic, Saudi Arabia welcomed over 93.5 million tourists in 2022, making it the fastest-growing tourism destination
Business
UAE, fintech lead as venture funding surges in MENA
At $445 million, startups in the region witnessed a robust 153 percent year-on-year growth in venture funding despite a 7...
- At $445 million, startups in the region witnessed a robust 153 percent year-on-year growth in venture funding despite a 7 percent drop in deal volume, says a latest report
- Securing $422 million in 14 deals, the UAE led regional funding, while Saudi Arabia, boosted by Flat6labs Riyadh's seven new startups, led with 15 deals.
Economy
Middle East tourism witnesses strong rebound in Q1
Continued economic recovery, ease of travel restrictions, and the growing popularity of the region as a tourist destination have been...
- Continued economic recovery, ease of travel restrictions, and the growing popularity of the region as a tourist destination have been credited for the sector's resilience
- About 235 million tourists travelled internationally in the first three months of 2023, more than double during same period of 2022, highlights the latest UNWTO report
Economy
Qatar’s realty builds on robust infrastructure
The country aims to reach the volume of real estate trading to QR 100 billion (US$27.4 billion), especially since real...
- Qatar's advanced infrastructure, health sector, and education system play significant roles in bolstering the real estate sector, says the Minister of Municipality
- The Gulf country's goal is to reach a volume of real estate trading of QR 100 billion (US$27.4 billion), adds Dr. Abdullah bin Abdulaziz bin Turki Al Subaie
Geostrategy
Time won’t strip Palestinians of right to return
"While commemorating 75 years since the crisis, we remember with sorrow the crime against humanity the Palestinian people faced in...
- Kuwait's UN Ambassador Tariq Al-Bannai underscores Palestinians' right to return to their homeland during a UNRWA meeting
- Al-Bannai recalls the crisis of 1948, terming it a crime against humanity, leading to displacement of hundreds of thousands of Palestinians.
Business
GCC feeds growing appetite for catering services
Rising disposable incomes, demand from businesses and events, online food delivery services, and increased tourism are driving the growth of...
- Rising disposable incomes, demand from businesses and events, online food delivery services, and increased tourism are driving the growth of Gulf catering services market
- Saudi Arabia leads the market, while the UAE is showing the fastest growth as major tech companies like Google and Microsoft are investing heavily in the sector
Geostrategy
Iran, Saudi Arabia, UAE, Iraq, other regional powers plan naval coalition
Iranian Navy Commander Rear Admiral Shahram Irani has declared the formation of a new naval coalition. This alliance, encompassing regional...
- The move reflects the region's understanding of the need for synergy and cooperation in establishing security
- Iran, Russia, and China's annual naval exercises pointed to as a model for this regional coalition
Human fraternity, climate change among top priorities for UAE as president of UNSC
The UAE will host three high-level Council meetings in June, aiming to promote interfaith dialogue, address climate change impacts on...
- The UAE will host three high-level Council meetings in June, aiming to promote interfaith dialogue, address climate change impacts on worldwide conflicts
- The UAE also seeks to host a high-level briefing on cooperation between the UN and the League of Arab States will take place on June 8
More GCC newspapers cease weekend publishing
Major GCC newspapers -- including Khaleej Times and Gulf News -- have ceased weekend editions due to financial pressure and...
- Major GCC newspapers -- including Khaleej Times and Gulf News -- have ceased weekend editions due to financial pressure and declining readership.
- The move has drawn mixed reactions, with some appreciating the step towards digital adaptation and others worrying about the potential impact on journalism quality
Business
Innovative financing solutions attract firms to UAE
"Everybody sees this as an opportunity to bring their businesses here. Accessing capital can be challenging, but fortunately the government...
- Raja Al Mazrouei, CEO of Etihad Credit Insurance, asserts that financing solutions are driving manufacturing growth in the UAE and luring external entities
- The ECI CEO, however, acknowledges the challenges in capital access but praised the UAE government's provisions such as subsidies, financing, and guarantees
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
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Saudi Arabia’s real estate deals fall 11 percent in 2023: Ministry
Riyadh, Saudi Arabia -- The value of Saudi Arabia's real estate transactions fell year-on-year by 11 percent to nearly SAR...
Business
WEF discusses politics, climate, but not Gaza crisis
Khalid Janahi, CEO of Vision3, in an exclusive interview with TRENDS, delves into why this vital topic was overshadowed in...
Videos
Digital rights of Palestinians, supporters widely violated: Report
“Those developments had a significant impact on the digital world, freedom of speech, privacy, and security, leading to a deterioration...
Geostrategy
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Geostrategy
Global crises, AI key focuses of World Economic Forum
The upcoming Davos summit is set to become a melting pot of discussions on critical global issues, including the conflicts...
- The upcoming Davos summit is set to become a melting pot of discussions on critical global issues, including the conflicts in Gaza and Ukraine, and the rapid rise of AI.
- With leaders like President Volodymyr Zelensky attending, the forum promises intense dialogues on geopolitical challenges and opportunities for rebuilding trust.
Economy
Tawazun Council acquires TASNEEF
Subsidiaries of TASNEEF were also acquired.
- This strategic move aims to enhance the council's role in developing national defense industries, the Council said.
- TASNEEF has established a number of services, including issuing rules of relevance to the classification of ships.
Business
Bahrain Steel raises $450m SLL
The company produces and supplies high-grade iron ore pellets.
- The proceeds from this loan will be directed towards CAPEX for constructing the world’s largest stockyard shed with rooftop solar panels.
- The SLL's framework incentivizes Bahrain Steel to exceed mandatory greenhouse gas (GHG) emissions reductions.