Riyad Bank Saudi PMI down to 57.5 points in November
Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Manager's Index (PMI), formerly S&P Global Saudi Arabia PMI,...
Business
WhatsApp update allows posting status updates via Instagram
Washington, United States -- The instant messaging platform WhatsApp launched a new update that includes an optional feature that allows...
Business
UAE inflation rate of 2.5 percent displays economic stability: FCSC
UAE's Consumer Price Index (CPI) at the end of 2021 reached 108.62, compared to 105.97 in December 2020, which puts...
- Rate of inflation in food and beverages stood at 3.71 percent, tobacco at 0.65 percent, clothing and shoes at 0.51 percent.
- Abu Dhabi recorded an inflation rate of 0.08 percent in December 2021 compared to November, while the inflation rate in Dubai was 0.09 percent.
Geostrategy
Lebanon busts 17 suspected Israeli ‘spy networks’ during crackdown
Lebanon said Monday it had busted at least 17 suspected Israeli spy networks, in one of the largest nationwide crackdowns...
- Information minister Abbas Halabi said the rings operated both "locally and regionally, without elaborating.
- Between April 2009 and 2014, Lebanese authorities detained more than 100 people accused of spying for Israel.
Business
Micrsoft startups opens second round of GrowthX Accelerator Program
Microsoft for Startups Middle East Wednesday announced it has opened a second round of applications for Microsoft for Startups’ highly...
- GrowthX Accelerator and Highway to 100 Unicorns are part of a strategic partnership between Microsoft and the Abu Dhabi Investment Office.
- The GrowthX Accelerator brings together corporates with challenges and startups that can build field-ready solutions.
Geostrategy
Thai PM to visit Saudi for first time since gem theft soured ties
Prime Minister Prayut Chan-O-cha will this week make the first visit by a Thai leader to Saudi Arabia in more...
- Thai-born janitor Kriangkrai Techamong stole $20 million worth of precious gems in 1989 from the home of a Saudi prince, triggering a feud between the countries.
- Saudi Arabia has long accused Thai police of bungling their investigation into the theft, with allegations that the stolen gems were snapped up by senior officers.
Business
Saudi launches Boutique Group to convert palaces into ultra-luxury hotels
Boutique Group, a new hospitality brand that will manage and convert a collection of iconic historic and cultural palaces in...
- The first phase of the project will focus on the development of three historic palaces in cooperation with the private sector.
- Al Hamra Palace will offer 77 keys including 33 luxury palace suites and 44 luxury villas in Jeddah.
Business
UAE, South Korea ECAs sign MoU to boost green energy investments
The official export credit agencies of the UAE and South Korea have signed an MoU to boost investments in sustainable...
- Etihad Credit Insurance and K-SURE will work to facilitate support for various collaborative projects, especially hydrogen economy and renewable energy.
- They will also join forces to support the exporters operating in diverse industries to enter the global market.
Business
Indonesian student’s selfies fetch $1m in NFT sales
Sultan Al Ghozali, a computer science student at a university, has taken a picture of himself sitting in front of...
- He intended to use the collection of nearly 1,000 selfies to create a timelapse video for his graduation day.
- After learning about blockchain technology, the 22-year-old decided to upload the photos to NFT trading platform OpenSea under the title "Ghozali Everyday"
Business
300 stakeholders take part in Dubai Shenzen Day and Products Show
Over 300 public and private sector stakeholders from China and the UAE took part in the first Shenzhen Day Launch...
- Over 70 Shenzhen-based companies specializing in life and health, consumer electronics and intelligent security, that put more than 350 high-tech products on display.
- A total of 120 bilateral business meetings were held during the event as part of the Dubai Chambers representative office in Shenzhen’s efforts to facilitate exchange.
Business
Decrees regulating Dubai Chambers and their Boards issued by Sheikh Mohammed
Dubai Chambers has been established as a new entity, replacing the Dubai Chamber of Commerce & Industry, and Juma Al...
- One of the decrees establishes the Board of Directors for Dubai Chambers and appoints Abdul Aziz Al Ghurair as its Chairman.
- As per the new legislation, Dubai Chambers' main responsibility is to develop plans and policies to enhance the emirate's global status as an economic hub.
Business
Dubai Free Zones Council mulls facilitating business bank accounts for SMEs
A meeting of the Dubai Free Zones Council (DFZ Council) on Sunday discussed how to facilitate opening business bank accounts...
- These bank accounts will be facilitated in collaboration with the UAE Banks Federation.
- Council members also highlighted their readiness to support the Emirati Human Resources Development Council in Dubai, which DFZ Council joins as a member.
Riyad Bank Saudi PMI down to 57.5 points in November
Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Manager's Index (PMI), formerly S&P Global Saudi Arabia PMI,...
Business
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Riyadh to host Peace and Sport Middle East Forum in Oct
Arts & Culture
DEWA Q2 revenue $2bn
Business
Riyadh to host 45th session of UNESCO’s World Heritage Committee
Riyadh, Saudi Arabia -- Saudi Arabia is hosting the extended 45th session of UNESCO's World Heritage Committee from September 10...
Arts & Culture
$17.32bn projects launched on first day of Cityscape Riyadh
Riyadh, Saudi Arabia -- The Cityscape Global Exhibition, which kicked off Sunday in Riyadh, witnessed the launch of real estate...
Business
Care secures $93.3m Murabaha facility
The long-term facility was obtained from Gulf International Bank.
Business
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Geostrategy
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...
- Impoverished Gaza, home to around 2.3 million Palestinians, is under a tight land, air and sea blockade imposed by Israel, whose defense ministry controls all crossings.
- The closure of the Kerem Shalom crossing came amid rising violence in the Israeli-Palestinian conflict which has seen at least 227 Palestinians killed so far this year.
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...
- The meeting was held on the sidelines of the 18th Group of 20 (G20) Heads of State and Government Summit in New Delhi.
- The two sides also exchanged views on various regional and international developments of mutual interest.
Business
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,...
- The real estate market index for the month of August revealed that the financial value of Doha municipality's transactions amounted to QR 290 million.
- Of the 10 most expensive properties sold in the month, Doha accounted for seven and Al Rayyan, Al Wakrah and Umm Salal one each.