Abu Dhabi positioned in world’s fastest-growing economic corridor: Official
Abu Dhabi, UAE -- Dr. Karim El Solh, Co-Founder and Chief Executive Officer at Gulf Capital, said Thursday Abu Dhabi...
Business
Saudi PIF secures $5 billion financing in collaboration with K-SURE
Riyadh, Saudi Arabia -- The Public Investment Fund (PIF) and Korea Trade Insurance Corporation (K-SURE) have announced the signing of...
Business
Arts & Culture
For one week, Oman center-stage at T20 World Cup
The grass pitches of the 3,000-seat Al Amerat site are a long way from the days when cricket was first...
- Oman are playing in the T20 World Cup for the second time after a 2016 debut saw them stun Ireland at spectacular Dharamsala.
- Ranked 18 in the world, they have to negotiate a qualifying round which includes Bangladesh, Papua New Guinea and Scotland.
Expo 2020 DUBAI
France takes to the skies to celebrate Expo 2020 National Day
DUBAI:Â France celebrated its 'Expo 2020 National Day' with celebrations in the skies and across ten locations, with the main activities...
- The official ceremony took place at Al Wasl Plaza in the presence of France Minister of Europe and Foreign Affairs Jean-Yves Le Drian.
- The 'National Day' celebrations took place across ten locations.
Business
Hyperloop to become a reality in years, not decades: CEO DP World
Hyperloop, which is expected to transport passengers and freight at a speed of an airplane, could become a reality before...
- Sultan Ahmed bin Sulayem said India and Saudi Arabia might roll out the transport system first.
- DP World has invested in Virgin Hyperloop, which tested human travel in a hyperloop pod for the first time in 2020.
Geostrategy
Iraq’s election: how it works, factions that are likely to dominate
A total of 329 seats are up for grabs in the election, which was moved forward from 2022 as a...
- There are fears voter turnout could drop below the 44.5 percent figure registered in 2018.
- More than 25 million citizens are eligible to vote. They are supposed to present a biometric card for what was conceived as a fully electronic voting process.
Geostrategy
Iran, Saudi hold new round of talks in Iraq
The discussions, hosted by Iraq as it seeks to act as a regional mediator, were launched under Iran's former, moderate...
- US ally Saudi Arabia and Washington's arch-foe Iran are at odds over many regional issues, including the wars in Yemen and Syria.
- The talks have led to "serious progress" regarding Gulf security, Tehran's foreign ministry spokesperson Saeed Khatibzadeh said on September 23.
ACWA Power final IPO price nearly $15 per share, targets raising $1bn
The company expects to raise more than $1 billion from the public offering, valuing the company at about $10 billion.
- Retail offering started on Wednesday and will run until Oct. 1
- ACWA is considering issuing green bonds in 2022 and beyond to raise funds for some renewable energy projects.
Geostrategy
Transformative projects focus of new UAE cabinet
The government work 'will be led by major transformative projects and not just long-term strategic plans, says Sheikh Mohammed.
- The new strategy comes with the government's previous plan, UAE Vision 2021, through which the emirates has achieved all its goals in the past 10 years, Sheikh Mohammed said.
- Unlike previous 5-10 year cycles, the coming cycles of change will be flexible and six months to two years long, he added.
Business
Arkan launches digital platform
Medical, lab supplies and equipment can be purchase online.
- The platform provides a user interface for B2B procurement management.
- Arkan said the launch in sync with Saudi Arabia Vision 2030.
Business
Facebook may launch digital wallet
The wallet, Novi, would let users store cryptocurrencies.
- Facebook said in 2019 it planned to introduce a cryptocurrency called Libra, which changed its name to Diem in 2020 after facing regulatory resistance.
- Company says it would have preferred to release Novi alongside Diem, but the latter's timing was uncertain.
Geostrategy
IsDB and OIC keen to boost cooperation
Both institutions will work toward supporting economic and social development in member countries.
- IsDB is organizing a forum in Tashkent on Sept. 2 on post-Covid 19 situation.
- Both institutions will work toward supporting economic and social development in member countries.
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
Abu Dhabi positioned in world’s fastest-growing economic corridor: Official
Abu Dhabi, UAE -- Dr. Karim El Solh, Co-Founder and Chief Executive Officer at Gulf Capital, said Thursday Abu Dhabi...
Business
Company News
Eshraq Q2 profit $9.79m
Business
Latest News
Yahsat H1 net income up 5%
Business
Production of pick-up trucks and vans in Iran rises by 52-70%
Tehran, Iran -- Production of pick-up trucks and vans in Iran in the first five months of the current Iranian...
Business
Most Read
Geostrategy
Egypt president calls for measures to slow birthrate
Cairo, Egypt -- Egyptian President Abdel Fattah al-Sisi called Tuesday for measures to slow the birthrate in the Arab world's most...
- "We need 400,000 births per year," said the leader of the country of 105 million inhabitants which recorded nearly 2.2 million births in 2022.
- Sisi intervened when his minister of health and population, Khaled Abdel Ghaffar, told a conference that "having children is a matter of complete freedom".
Infographics
Saudi construction sector employs 3 million workers
GCC countries employ close to 20 million foreign workers, who are subject to vastly different conditions and wags compared to...
- The Gulf Cooperation Council countries have a high reliance on foreign labor. In 2020, foreign workers accounted for 60 percent of the total labor force.
- GCC countries face high unemployment among nationals, shortage of skilled labor and a mismatch between the skills of nationals and the requirements of the labor market.
Business
21 agreements and MoUs signed at Saudi-Italian Investment Forum
Milan, Italy -- The Saudi-Italian Investment Forum, jointly organized by the Saudi Ministry of Investment and the Italian Ministry of...
- The 21 MoUs and agreements signed during the Forum encompassed the sectors of energy, clean energy, healthcare, real estate, waste management, technology, and manufacturing.
- In 2022, the non-oil bilateral trade value between the Kingdom and Italy reached approximately SAR 5.6 billion (1.4 billion Euros), demonstrating significant growth potential.