Saudi tourism sector employee number rises by 5.1 percent in second quarter
Riyadh, Saudi Arabia – The number of employees in tourism-related activities in Saudi Arabia increased by 5.1 percent in the...
Business
Stocks firm, dollar subdued as market flirts with outsized Fed cut
Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start...
Economy
Economy
GCC economies eye $2.5trn from better productivity
The region pins hope on the new Productivity Potential Index that offers a forward-looking framework, incorporating environmental, health, and innovation...
- The region pins hope on the new Productivity Potential Index that offers a forward-looking framework, incorporating environmental, health, and innovation factors.
- The PPI enhances output by identifying and improving weak areas, addressing 21st-century challenges like climate change, biodiversity loss, and social change.
Geostrategy
Displacement, health crisis in Sudan is alarming, says WHO
GENEVA, SWITZERLAND – Acting WHO Representative in Sudan Peter Graaff has said that the humanitarian and health crisis in the...
- Sudan is now facing the largest displacement crisis globally, with a staggering 8 million people displaced.
- The majority of those affected, including women and children, are compelled to embark on days-long journeys to escape violence.
Business
BGN to get $100m in financing
Abu Dhabi Exports Office, Mashreq and ADCB to provide financing.
- The strategic collaboration sets the stage for a financing arrangement, offering up to $100 million to facilitate the export of energy commodities from the UAE.
- The financing arrangement, a revolving credit line, is embedded with an accordion feature whereby regional banks and their overseas affiliates can contribute additional funding.
Economy
Qatar-Turkey business forum sparks new joint ventures
Emphasizing the importance of holding meetings and mutual visits, Sheikh Khalifa bin Jassim bin Mohamed Al-Thani notes this would bolster...
- Qatar-Turkey JETCO aims to enhance private sector cooperation and advance intra-regional trade.
- Successful Qatar-Turkey Business Forum highlights partnership opportunities, says Qatar Chamber chief.
Geostrategy
WEF24: Gulf cities spearhead global investment surge
GCC cities such as Abu Dhabi, Dubai and Riyadh showcase dynamic growth, rivalling global metropolises, says Julien Hawari, CEO &...
- GCC cities such as Abu Dhabi, Dubai and Riyadh showcase dynamic growth, rivalling global metropolises, says Julien Hawari, CEO & Founder of Special Edition and Million.
- He attributes the Gulf's economic boom to transformative business and government practices, and inclusive policies that promote diversity and attract international talent.
Business
Tourism takes Saudi Arabia to a new global height
Strategic initiatives and a focus on domestic tourism help Saudi Arabia's tourism sector experience unprecedented growth, positioning it as a...
- Strategic initiatives and a focus on domestic tourism help Saudi Arabia's tourism sector experience unprecedented growth, positioning it as a future global travel leader.
- Leading the G20 in tourism sector growth, the Kingdom showcases its global tourism impact, with high-quality hospitality projects and local workforce investment.
Arts & Culture
RAK cultivates communities with arts and culture
“Culture and arts are an integral part of building communities and a key pillar of Ras Al Khaimah’s sustainable development,”...
- Sheikh Saud bin Saqr Al Qasimi champions culture and arts as foundational for community and sustainable development in Ras Al Khaimah.
- The 12th RAK Art Festival at Al Jazeera Al Hamra Heritage Village showcases 106 artists, emphasizing the Emirate's dedication to global culture.
Business
Robots save UAE’s finance ministry 39,000 working hours
Dubai, UAE -- UAE's Ministry of Finance has saved 39,000 hours of human labor by using bots, software applications that...
- The Ministry has just completed phase two of embedding robotic process automation (RPA) into many of its internal processes.
- By 2022, it had more than 50 bots working unattended, delivering great results, and it expects to save an additional 12,000 working hours in 2023.
Business
Arab Bank Group net profit $829.6m
The Group posted a 52% increase in net income compared to 2022.
- Total Assets grew by 6 percent to reach $68.3 billion and loans grew by 5 percent to reach $37.1 billion.
- The Board has recommended to the shareholders the distribution of 30 percent cash dividends for the financial year 2023.
Videos
WEF24: DCO leads in bridging global digital divide
Digital Cooperation Organization's initiatives are key to empower emerging economies through digitalization's full potential, its Secretary General Deemah AlYahya tells...
- Digital Cooperation Organization's initiatives are key to empower emerging economies through digitalization's full potential, its Secretary General Deemah AlYahya tells TRENDS.
- Actively working towards a more cooperative and digitally inclusive future, the DCO is a pivotal player in the digital arena, she adds on the sidelines of the World Economic Forum.
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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
Saudi tourism sector employee number rises by 5.1 percent in second quarter
Riyadh, Saudi Arabia – The number of employees in tourism-related activities in Saudi Arabia increased by 5.1 percent in the...
Business
Company News
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RSG, Hyundai Motor ink pact
Business
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
GCC unveils strategic vision for regional stability
For the first time in its 43-year history, the bloc has set a strategic vision that prioritizes diplomacy and dialogue...
Geostrategy
Dubai’s media revamp key to navigate new horizons
"There is a need to double efforts to develop a comprehensive blueprint outlining necessary policies to drive the media sector...
Economy
Most Read
Business
Feeding fit: Saudi Arabia redefines the poultry sector
In February 2024, Saudi Arabia's poultry industry reached a milestone by producing 100 million kilograms of poultry, thereby setting new...
- In February 2024, Saudi Arabia's poultry industry reached a milestone by producing 100 million kilograms of poultry, thereby setting new benchmarks in the global market.
- This underscores the Kingdom's strategic push towards agricultural innovation, economic diversification, and food security, aligning with the ambitious Vision 2030.
Geostrategy
‘UAE strengthens Gaza support with humanitarian aid’
“The activation of the maritime corridor is crucial. It will serve as an essential lifeline for the people of Gaza,...
- UAE reaffirms solidarity with Gaza, launching significant humanitarian initiatives under Sheikh Mohamed bin Zayed Al Nahyan's leadership.
- UAE's comprehensive humanitarian mission includes over 25,000 tons of aid, medical treatment for wounded children and cancer patients.
Economy
Saudi Arabia set to leap into space tourism by 2026
Madrid-based Halo Space Company has selected Saudi Arabia as its launch site for space tourism, offering tours at $164,000 per...
- Madrid-based Halo Space Company selects Saudi Arabia as its launch site for space tourism, offering tours at $164,000 per person for a stratospheric Earth view.
- In June, a trial flight will take passengers 32 kilometers above Earth, using a helium balloon for an accessible adventure without the need for special training.