Chinese tourism bookings to Saudi surge 277% after mega promotional campaign
Shanghai, China -- In a bid to attract Chinese tourists, the Saudi Tourism Authority recently concluded its first, and the...
Business
56% Saudi consumers willing to pay premium for green transportation
Riyadh, Saudi Arabia -- An overwhelming 80 percent of consumers across 16 diverse nations now identify climate change as the...
Geostrategy
Blackouts hit Iraq as mercury soars 52°C
4 southern provinces without electricity since Tuesday Sizzling temperatures made worse by high levels of humidity When the mercury soared...
Swimmable billboard in Dubai to promote swimwear collection
The billboard is made of reinforced transparent acrylic It took a team of team of 32 people to build the...
Saudi Arabia prods tech, industrial firms to list on Tadawul
Industrial companies to be given help in procuring land and factories In May, the kingdom issued 59 new industrial licenses...
Germany hopes return of pre-pandemic level Saudi tourist arrivals
Germany recorded 1.6 million overnight stays from the Gulf region in 2019 A campaign aims to inspire travelers to journey...
Can Palestinian Monetary Authority’s digital currency move be practical?
Israel has placed restrictions on large cash transactions Digital money could demonstrate apparent autonomy from Israel The Palestinian Monetary Authority...
Lebanon to lift fuel subsidies as gasoline shortage worsens
Gasoline price rise likely to ease the shortage of fuel Lebanon is experiencing one of the worst economic crises in...
For poor Jordanians, debt trap is often a prison cell
Jordanians in financial trouble can't declare personal bankruptcy Non-payment of even small debts carries up to 90 days in jail...
Dubai Chambers reform aims to raise annual foreign trade to $540 billion
The emirate’s annual trade stood at $320 billion in 2020 Foreign trade focus likely on high-growth markets like Latin America,...
$13-million consignment among Dubai Customs’ 398 drug seizures in 2021 Q1
1118 seizures made in 2020 at different entry points in Dubai Punishment for possession of drugs range from 4 years...
Mubadala sells 4.5 percent Oil Search stake for $275m
Abu Dhabi’s sovereign wealth fund Mubadala Investment Company has offloaded A$363 million ($274.82 million) share in Oil Search, which has...
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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
Chinese tourism bookings to Saudi surge 277% after mega promotional campaign
Shanghai, China -- In a bid to attract Chinese tourists, the Saudi Tourism Authority recently concluded its first, and the...
Business
Company News
SABIC AN profit slumps 71% in H1
Business
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QGIRC net profit down
Business
ESG H1 net profit $162m
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...
Business
Constructive Saudi pledges made for Lebanon assistance: Iran FM
Tehran, Iran -- Iranian Foreign Minister Hossein Amirabdollahian said Thursday that discussions with Saudi authorities have resulted in constructive statements...
Geostrategy
Global construction industry projected to reach $12.9 trillion by 2028
Dubai, UAE -- The global construction industry is projected to reach a staggering $12.9 trillion by 2028, with a robust...
Business
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Business
Viacom18 nets Indian cricket broadcast rights for $721 million
Media rights are a huge earner for the Board of Control for Cricket in India (BCCI), one of the richest...
- The agreement priced the average match nearly 13 percent higher than the $944 million rights deal for 2018-23 signed by Star, Disney's local subsidiary.
- Star had held the rights to broadcast international matches since 2012 and was also a bidder in Thursday's auction, along with Sony Sports.
Business
Saudi Arabia’s oil exports down 33.4 percent in second quarter
Riyadh, Saudi Arabia -- Saudi Arabia's oil exports fell by 33.4 percent to SAR 227.7 billion ($60.70 billion), from SAR...
- The value of exports amounted to SAR 291.6 billion in Q2 2023, down from SAR 427.8 billion in Q2 2022.
- The share of oil exports in total exports decreased from 79.9 percent in Q2 2022 to 78.1 percent in Q2 2023.
Business
Borouge to pay $650m H1 dividend
The interim dividend is equivalent to 7.9 fils per share.
- The interim dividend will be paid to shareholders who have purchased Borouge shares as of 7 September 2023.
- This represents the first part of the expected total FY 2023 dividend of $1.3 billion (AED4.8 billion), equivalent to 15.8 fils per share.