SEVEN to build $347m entertainment destination in Saudi Arabia’s Aseer
Riyadh, Saudi Arabia -- Saudi Entertainment Ventures (SEVEN), a PIF subsidiary, has announced the fifth entertainment destination in the Kingdom,...
Business
Meet Nora Al-Matrooshi, first Arab woman astronaut in training
Matrooshi, 28, hopes she will have the opportunity to visit space one day She and her fellow countryman, Mohammad Al-Mulla,...
Three rockets fired at US embassy in Baghdad: Iraqi army
A rocket attack at an airbase on Wednesday injured 2 personnel in Anbar A spate of recent attacks on US...
Egypt to release megaship that blocked Suez after new compensation deal
Suez Canal Authority reached a final deal on compensation Cairo lost between $12m-$15m in revenues for each day of blockage ...
Emirates Auction to assist on-road broken-down vehicles
Dubai Police and the auctions firm have signed an MoU Emirates Auction will deploy a fleet of vehicles equipped with...
Pakistan imports goods worth $10.6 b from four GCC countries
Imports from UAE $6.2 billion compared to $5.9 billion last year The highest increase in imports recorded from Saudi Arabia...
Morocco to produce Sinopharm vaccine
The country will invest $500m to produce 5 million doses a month Africa's first national vaccination program aimed at inoculating...
Cyberattack hits hundreds of US businesses
A US IT company urges customers to shut down their servers after the attack UN Security Council members recently warned...
Digital tool launched to help UAE SMEs boost digital reach
Chamber members can set and verify their business profiles on Google Search and Maps The tool can generate a customized...
Oil prices extend gains after OPEC+ talks fail, equities mixed
Brent broke above $77 for the first time since 2018 Breakdown of talks raises the possibility of $100 a barrel...
Saudi Aramco finance chief who steered listing steps down
Ziad al-Murshed named as the chief financial officer The IPO was a key part of the plans to open up...
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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
Company News
DAE H1 profit up 13%
Business
Mubadala invests in Aligned
Business
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e& H1 net profit $1.27bn
Business
Fahd al-Jarallah appointed new Kuwait FM amid economic challenges
Kuwait City, Kuwait -- Kuwait Sunday announced the appointment of Fahd Abdulaziz al-Jarallah as the new Finance Minister. This decision...
Geostrategy
Tech’s carbon footprint: can AI revolutionize responsibly?
The planet's 8,000 or so data centers are the foundation of our online existence, and will grow ever further with...
Business
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Business
Saudi first quarter travel balance of payments surplus $6 billion
Riyadh, Saudi Arabia -- Saudi Arabia achieved a surplus of SAR 22.8 billion ($6.07 billion) in the balance of payments...
- The Kingdom had recorded a deficit of SAR 1.6 billion in Q1 2022, the Kingdom's Ministry of Tourism said.
- Incoming tourism revenues increased by about 225 percent compared to the first quarter of 2022, to reach about SAR 37 billion.
Business
SABIC-Sinopec China plant opens
The plant is located in their jointly owned petrochemical firm.
- Sinopec SABIC Tianjin Petrochemical Company, established in 2009, consisting of nine manufacturing units.
- The production capacity of the new polycarbonate factory is 260,000 tons per year.
Business
Saudi Arabia’s consumer spending hits $27bn in July: Central Bank
Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia increased 2 percent to SAR 104.6 billion ($27.88 billion) in July 2023, from...
- Data showed 745.9 million transactions were processed through 1.64 million POS devices in July.
- POS transactions represent what consumers spend using their ATM and credit cards in shopping malls, retail stores, pharmacies, etc.