Oman’s revenues drop by 17 percent in nine months of 2023
Muscat, Oman -- Oman's revenues for the nine-month period of 2023 declined 17 percent to 9.8 billion riyals ($25.45 billion),...
Economy
Infographics
Jordan lowest bribery risk Arab nation
North Korea, Turkmenistan, Equatorial Guinea, Syria and Venezuela present the highest commercial bribery risk, said the TRACE Bribery Risk Matrix 2022.
- The TRACE Bribery Risk Matrix measures a country's score on the basis of four domains, which are derived from nine sub domains.
- The matrix measures the risk in 194 jurisdictions, territories, and autonomous and semi-autonomous regions.
Business
YahClick, Canar sign 6-year pact
The $15 million pact will expand YahClick's presence in Africa.
- The deal will make Sudan's Canar Telecom one of YahClick’s largest service providers across the region.
- Under the agreement, Canar has procured significant satellite capacity from YahClick.
Business
Saudi Arabia’s Al Rajhi bank reports a net profit of $4.58 bn in 2022
The net profit was up 16 percent from $3.92 billion in 2021.
- In a bourse filing, the bank attributed the rise in net profit to an increase in the total operating income by 11.12 percent.
- The bourse filing said loans and advances in 2022 stood at 568.34 billion riyals, up 25.5 percent over 2021.
Business
Boubyan Bank 2022 net profit $189m
The bank will pay 6 fils in cash and 6% in bonus shares.
- The total consolidated assets of Boubyan Bank Group increased to KD 7.9 billion at a growth rate of 7 percent.
- The bank said the total of customers’ deposits grew by 6 percent to reach KD 6 billion, while the financing portfolio grew by 7 percent to reach KD 5.9 billion.
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Resilient UAE health sector attracts job seekers
At G20's first Health Working Group meeting in India, UAE affirmed its commitment to play an active role in addressing...
- One of the prominent successes of Nafis program has been the inclusion of local students in health sector cadre development.
- A UAE delegation attended G20's first health working group session held in India from January 18 -20.
Business
Qatar joins consortium to explore Lebanon’s offshore gas
The deal will see the state-run QatarEnergy receive a minority 30 percent stake in two blocks of Lebanon's exclusive economic...
- The pact greenlights Lebanon's exploration of its southern Sidon reservoir following the signing of the landmark deal last Oct demarcating its maritime borders with Israel.
- Under a United States-brokered accord, Lebanon and Israel, which are officially still at war, delimited their maritime borders in October 2022.
Business
Qatar’s planning authority, Microsoft to push emirate’s digital goals
Doha, Qatar-- Qatar's Planning and Statistics Authority (PSA) and Microsoft have signed an MoU to support the digital transformation in...
- The MoU will enable the Authority to implement projects, disseminate data and statistics, and support sustainability in line with Qatar National Vision 2030.
- Microsoft will provide PSA with full support, full access to global industry specialists, as well as support in artificial intelligence activities.
Business
Abu Dhabi customs to clear goods for non-residents, outside firms
Abu Dhabi, UAE– The General Administration of Abu Dhabi Customs has announced the provision for the possibility of clearing goods...
- This move aims to facilitate customer experience, reduce effort and time, and provide digital customs services in accordance with international best practices.
- The new feature allows non-resident individuals to clear their personal goods by creating a UAE Pass account through their passports.
Geostrategy
Anger among Palestinians spreads after Israel raid that killed nine
The operation, which Israel said targeted Palestinian fighters planning an attack, killed nine people and for Palestinians recalled the bloodshed...
- Analysts have warned of more violence to come, after the deadliest year in the West Bank since the UN started tracking the death toll in the occupied territory in 2005.
- The PA announced late Thursday that it was severing security coordination with Israel for the first time since 2020.
Business
SAL Saudi Arabia, Menzies sign MoU
The MoU is aimed at improving services at kingdom's airports.
- Menzies will provide all studies to SAL Saudi Arabia on the transfer of best practices globally to improve the level of passenger services and baggage management.
- It also involves smooth passenger services, from issuing a boarding pass to take-off.
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SAMI launches radio systems line
Business
EDGE, Brazil Marine Corps sign pact
A technical cooperation agreement will follow the signing.
AMEA reaches financial closure on PV plant
The $86m project will be AMEA's first operational asset in Tunisia.
Business
Non-oil sector to drive UAE economic growth to 3% in 2023: S&P
S&P analysts anticipate continued growth within the UAE's robust tourism sector. The country's ability to host major international events is...
Economy
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Business
Masdar, PLN NP sign expansion pact
They will develop Phase II of Indonesia's Cirata project by up to 500MW
- The initial 145MW phase of the innovative floating PV project, located in the picturesque Cirata reservoir in West Java, Indonesia, is expected to come online later this year.
- Masdar opened an office in Jakarta, Indonesia, in 2021, to further strengthen links with key players within the region.
Business
NEOM inks deal with Marriott International
Under the deal, two luxury hotels will be built in Trojena.
- The agreement includes Saudi Arabia’s first W Hotel, and a JW Marriott chain-branded hotel, NEOM said in a statement.
- Trojena, a flagship development within NEOM, is being crafted and positioned as a year-round adventure sports haven.
Arts & Culture
Broadway musical ‘The Phantom of the Opera’ to Debut in Riyadh
Riyadh, Saudi Arabia -- The iconic Broadway musical 'The Phantom of the Opera' will be performed in Riyadh from Oct...
- The musical will be performed 59 time at The Arena Riyadh. It consists of 100 cast, crew and orchestra members, and more than 230 intricately designed costumes.
- The show is part of the Royal Commission for Riyadh City's Riyadh Life sector to provide entertainment options, in line with the objectives of Vision 2030 Quality of Life program.