Market capitalization of 20 UAE listed firms reaches $762 billion
Abu Dhabi, UAE -- The market capitalization of the top 20 listed companies in the local stock markets by market...
Business
OpenAI reveals new GPT-4o model that is faster and free for all users
OpenAI on Monday launched a new AI model and desktop version of ChatGPT, along with an updated user interface, the...
Business
Infographics
Water stress levels vary in Arab countries
Some countries face more intense competition for water resources, leading to potentially severe environmental impacts. The contrast underscores the diverse...
- The region needs to develop and implement sustainable water management strategies to mitigate the growing water scarcity and its potential impacts.
- The high stress levels in GCC, in particular, highlight an urgent need for these nations to develop and implement sustainable water management strategies.
Business
China announces 25 measures to aid private businesses
Beijing, China - China's central bank and several government agencies unveiled 25 new measures Monday to support private economy. These...
- These initiatives aim to diversify financial avenues for private businesses, marking a continued effort to bolster the private sector
- These initiatives aim to diversify financial avenues for private businesses, marking a continued effort to bolster the sector crucial for the country's economic progress.
Geostrategy
It’s official: Saudi Arabia will host World Expo 2030
The Kingdom's selection as the host for World Expo 2030 marks a pivotal moment in its journey towards innovation, openness,...
- The Kingdom's selection as the host for World Expo 2030 marks a pivotal moment in its journey towards innovation, openness, and global connectivity.
- This monumental global event in Riyadh will showcase Saudi Arabia's transformation and commitment to a forward-looking and sustainable future.
Business
Key contender Riyadh eyes Expo 2030 win tomorrow
Saudi Arabia -- competing against Busan, Korea, and Rome, Italy -- bids for Expo 2030 with a focus on innovation,...
- Saudi Arabia -- competing against Busan, Korea, and Rome, Italy -- bids for Expo 2030 with a focus on innovation, sustainability, and global unity.
- A successful bid could transform Saudi Arabia's tourism and business landscape, marking a significant milestone in its journey towards global prominence.
Geostrategy
Gaza truce: Hamas, Israel free second group of civilians
The move, part of a broader truce agreement mediated by Qatar and Egypt, saw emotional reunions as families welcomed their...
- The move, part of a broader truce agreement mediated by Qatar and Egypt, saw emotional reunions as families welcomed their loved ones back.
- The situation remains tense, with discussions about extending the truce and the potential resumption of conflict by Israeli forces.
Business
Does Anghami and OSN+ collab make financial sense?
A first of its kind in the region, the combination will offer consumers digital services of the best and latest...
- The OSN Group will invest in Anghami at a valuation of $3.65 per share, 3.9x the stock's average price for the past month.
- The combined entity will bring together over 120 million registered users and will be one of MENA’a largest streaming platforms.
Infographics
Is Israel’s ongoing assault on Gaza a genocide or not?
Some world leaders like Ramaphosa and Erdogan use the term genocide to describe Israeli actions in Gaza. Israel has also...
- South African President Cyril Ramaphosa, who currently chairs the BRICS group, strongly calls for an immediate ceasefire, describing the situation in Gaza as 'a genocide.'
- Pronouncements of several Israeli politicians, who openly called for extermination of Palestinians, have added to the fears of a genocide in Gaza.
Geostrategy
85 animals set free at Prince Mohammed bin Salman Royal Reserve
RIYADH, SAUDI ARABIA - The National Center for Wildlife, in cooperation with the Prince Mohammed bin Salman Royal Reserve released...
- The release is part of the National Center for Wildlife’s program with increasing and relocating endangered wild animals.
- The animals released this morning are 20 Arabian oryx, 40 rim antelopes, six mountain gazelles, six alpine ibexes.
GCC leads in climate action despite fossil fuel reliance
The UAE, Saudi Arabia, and Qatar outperform 17 other countries in key areas of green investment, sustainable infrastructure, and energy...
- The UAE, Saudi Arabia, and Qatar outperform 17 other countries in key areas of green investment, sustainable infrastructure, and energy transition, says a report.
- Leading the green transformation is the UAE, which has been proactively funding a variety of clean energy projects, including solar, wind, and nuclear energy.
Geostrategy
Arab, Islamic leaders seek end to Israeli aggression
The Joint Arab Islamic Extraordinary Summit, held in Riyadh calls for an immediate ceasefire and the establishment of a just...
- The Joint Arab Islamic Extraordinary Summit, held in Riyadh calls for an immediate ceasefire and the establishment of a just and lasting peace based on a two-state solution.
- Leaders from the Arab and Islamic world jointly call for the protection of Palestinian civilians, emphasizing the centrality of the Palestinian cause in regional stability.
Market capitalization of 20 UAE listed firms reaches $762 billion
Abu Dhabi, UAE -- The market capitalization of the top 20 listed companies in the local stock markets by market...
Business
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Salik revenue soars to US$574m
Business
QGIRCO 2023 loss $439m
Business
PIF fifth largest sovereign wealth fund as assets rise to $940.3bn
Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF) rose to the fifth position among...
Business
‘UAE leads humanitarian efforts in Gaza, seeks truce’
“Following the outbreak of the crisis between Palestinians and Israelis, the UAE initiated extensive diplomatic efforts at all levels to...
Geostrategy
Saudi Arabia sees over $11.9bn investments on Day 1 of LEAP 2024
Riyadh, Saudi Arabia -- Saudi Arabia's Ministry of Communications and Information Technology announced has said that the Kingdom witnessed technology...
Business
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Economy
UAE sets innovative media policy to propel the country onto global stage
DUBAI – Sheikh Abdulla bin Mohammed Al Hamed, Chairman of the UAE Media Council (UAEMC), has approved a comprehensive legislative...
- The roadmap emphasizes the importance of aligning national efforts and creating partnerships to boost the UAE’s media sector.
- It aims to develop a media industry that embraces global cultures, driven by innovation and youth leadership.
Geostrategy
Investment Facilitation for Development pact finalized at Abu Dhabi WTO meet
Abu Dhabi, UAE -- Ministers representing 123 World Trade Organisation (WTO) members have finalized the Investment Facilitation for Development (IFD)...
- The ministers also urged the 13th WTO Ministerial Conference (MC13) to incorporate the IFD Agreement into Annex 4 of the Marrakesh Agreement Establishing the WTO.
- Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, said the IFD Agreement is the result of more than six years of work, dedication and vision of more than 120 members.
Business
QGIRCO 2023 loss $439m
Loss attributed to revaluation of investment properties.
- The loss was also due to reclassification of the Group's investments in Algeria from investment in associates to financial assets at fair value through other comprehensive income.
- The loss per share amounted to QR 1.675 in 2023 versus loss per share of QR 0.608 for the same period in 2022. The Board of Directors proposed not to distribute dividends.