Tech-empowered shoppers drive Saudi consumer behavior: PwC
Riyadh, Saudi Arabia -- Saudi Arabian consumers are navigating the market with heightened awareness, becoming better-informed buyers, according to the...
Business
Abha Valley has potential to be a tourist destination
ABHA, SAUDI ARABIA - Extending over 34 kilometers, the Abha Valley Basin enjoys a variety of wildlife aspects, civilizational features...
Business
Geostrategy
G7 nations to stop financing fossil fuel projects abroad by end 2022
Japan Friday for the first time joined fellow members of the Group of Seven industrialised nations in pledging to end...
- Ending subsidies for the international fossil fuel energy sector was already part of a series of commitments agreed to by around 20 countries at COP26 climate summit in Glasgow.
- Six of the G7 club of rich nations were among the signatories at the time -- Britain, Canada, Germany, France, Italy and the United States -- but Japan had resisted until now.
Geostrategy
World’s tallest building engulfed as Mideast sandstorms hit UAE
The world's tallest building disappeared behind a grey layer of dust on Wednesday as sandstorms that have swept the Middle...
- The 828-metre Burj Khalifa, which is usually visible across the busy financial hub, retreated behind a curtain of airborne dirt that shrouded much of the country.
- The Middle East's sandstorms are becoming more frequent and intense, a trend associated with overgrazing and deforestation, overuse of river water and more dams.
Geostrategy
Six dead, 48 rescued after migrant ship capsizes off Lebanon
At least six people died, including a little girl, and almost 50 others were rescued after a migrant boat capsized...
- The boat capsized on Saturday night near the northern port city of Tripoli, the departure point for a growing number of people attempting a potentially lethal sea escape.
- The deadly accident, weeks ahead of parliamentary elections scheduled for May 15, is not the first of its kind for the crisis-hit country.
Business
ADNOC to build two LNG vessels
The two 175,000 cubic meter LNG vessels will join the company's fleet in 2025.
- The new-build LNG vessels are significantly larger than the current ADNOC L&S fleet of LNG vessels, which have a capacity of 137,000 cubic meters.
- Over the past 24 months, ADNOC L&S acquired 16 deep-sea vessels, including eight Very Large Crude Carriers in 2021.
Business
Kuwait’s CGC signs deal
The $125m deal includes engineering works for PAHW.
- The contract was signed ALARGAN National General Trading and Contracting Company to execute a project in Jaber Al-Ahmad City.
- CGC was established in 1965 in Kuwait and was listed on the Kuwait stock exchange in 2006.
Business
ADNEC’s hall 40 percent complete
It would be the biggest exhibition hall in the MENA region.
- The hall is scheduled to open in October 2022 and is part of the expansion plans for the Centre to bolster ADNEC’s competitiveness.
- The first-of-its-kind hall is being built on a space of 1,000 square meters in the Marina area opposite the Abu Dhabi National Exhibition Centre.
Business
Tabreed to pay highest ever dividend
The payout will be in the form of cash and bonus shares.
- The firm said the shareholders will get a cash dividend of six fils per share and a bonus of one share for every 40 shares held, which is equivalent to 12 fils per share.
- Last year, group revenue increased by 12 percent to 1.95 billion dirhams ($530 million), while net income grew 6.3 percent to 585 million dirhams.
Arts & Culture
Marilyn Monroe portrait may fetch $200m at auction
Christie's said it expects Andy Warhol's 1964 "Shot Sage Blue Marilyn" to become the most expensive 20th century artwork when...
- Christie's described the 40 inch (100 centimeter) by 40 inch portrait as "one of the rarest and most transcendent images in existence."
- Warhol began creating silkscreens of Monroe following the actress's death from a drug overdose aged just 36 in August 1962.
Geostrategy
Soft power index: UAE first in Middle East, tenth globally
The UAE advanced to 15th place globally in the overall Global Soft Power Index ranking, up from last year's 17th...
- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum said 'this reflects our leading position and good reputation worldwide'.
- The country is perceived to have managed the pandemic of COVID-19 effectively, which made it a distinguished model regionally and globally.
Business
Number of educational firms in Ajman Free Zone grew by 17 percent in 2021
The number of registered educational companies within the Ajman Free Zone (AFZ) grew by 17 percent in 2021 compared to...
- Ajman Free Zone is home to more than 240 educational facilities in 2021.
- AFZ attributed the growth to its strategic location, modern facilities and infrastructure, innovative and seamless services.
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
Tech-empowered shoppers drive Saudi consumer behavior: PwC
Riyadh, Saudi Arabia -- Saudi Arabian consumers are navigating the market with heightened awareness, becoming better-informed buyers, according to the...
Business
Company News
Latest News
Riyadh to host Peace and Sport Middle East Forum in Oct
Arts & Culture
DEWA Q2 revenue $2bn
Business
Gaza exports to Israel resume as crossing reopens: Palestinian official
The Kerem Shalom crossing, the only point of entry for goods between Gaza and Israel, was closed last week after...
Geostrategy
UAE President, Indian Prime Minister discuss strengthening bilateral, trade ties
NEW DELHI, INDIA - UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met to...
Geostrategy
Qatar realty market trading volume $277 million in August
Doha, Qatar -- Qatar real estate market recorded deals worth QR1.011 billion ($277 million) in the month of August 2023,...
Business
Most Read
Economy
Global rice prices hit 15-year high after India curbs: FAO
Rice is a major world food staple and prices on international markets have soared in the wake of the Covid...
- The consumer affairs and food ministry said at the time that the move would "ensure adequate availability" and "allay the rise in prices in the domestic market".
- The ban was expected to hit African nations, Turkey, Syria and Pakistan, all of which were already struggling with high inflation, data analytics firm Gro Intelligence said.
Business
Tabreed signs MoU with Indian state
Asia's largest district cooling PPP project in Hyderabad part of deal.
- The cooling infrastructure will potentially reduce over 200MW of peak electricity demand.
- The district cooling agreements are part of Telangana’s vision to become net zero by 2047.
Business
ENOC Group, Kawasaki renew partnership
The pact was signed through ENOC partner CKW Enterprises.
- The agreement grants Kawasaki access to ENOC Group’s advanced lubricants from top-tier mineral oils for regular bikes to fully synthetic oils designed for high-end bikes.
- ENOC said the new products meet an array of standards including, API SP and JASO T903: 2023 MA-2, guaranteeing best-in-class oil thickening and wear protection.