Russia to hold talks with US in Riyadh Monday: Kremlin
Donald Trump spoke to both Russia's Vladimir Putin and Ukraine's Volodymyr Zelensky this week and the US is also due...
Geostrategy
Two lunar landings in a week for NASA’s private Moon fleet
Washington, United States -- More than fifty years passed between the last Apollo mission and the United States' return to...
Geostrategy
Infographics
Aramco, IHC among biggest companies in Middle East
Energy, banking and financial services, and industrial sector companies are among the largest in the Middle East, especially the Gulf...
- High representation of these sectors is due to the region's rich oil and gas reserves and its growing population and economies.
- The Middle East is also home to a number of other significant industries, such as tourism, healthcare, and education.
Business
DAE closes $1.6 billion loan
DAE said this is the company's largest ever loan facility.
- The facility enabled DAE to tap the Islamic banking liquidity and consolidate its existing banking relationships in the Middle East, Asia, North America, and Europe, it said.
- Proceeds from the facilities will support the future financing needs of the business and refinance a maturing credit facility.
Arts & Culture
Picasso’s ‘Woman With a Watch’ to be exhibited in Dubai on Sept 25-26
This would be for the first time that the painting has been exhibited outside of the United States in over...
- This would be for the first time that the painting has been exhibited outside of the United States in over 50 years.
- The painting depicts Marie-Thérèse Walter, Picasso’s “golden muse” and the subject of many of his most iconic works.
Videos
Realty sector’s success hinges on GDP growth
The kingdom’s Minister of Housing, Majid Al-Hogail recently said that Gulf country's residential real estate finance is expected to exceed...
- Saudi Arabia has unveiled the MENA region's inaugural real estate stock exchange, marking a transformative moment for property trade in the Kingdom.
- The Kingdom's residential real estate finance is expected to exceed 1.2 million contracts with a value of SR600 billion ($162 billion) by 2030.
Business
BFB, The Family Office sign partnership
Bahrain FinTech Bay is a fintech ecosystem builder.
- BFB said that it will also explore the development of innovative digital investment solutions aligned with market trends.
- Bader Sater, CEO of Bahrain FinTech Bay. "Our combined strengths will lead to the creation of cutting-edge digital investment offerings that cater to the market's evolving needs."
Business
Iran steel production to rise by 22% in two years to 55MT annually
Tehran, Iran -- Iran’s annual steel production capacity is expected to increase by more than 22 percent within the next...
- A senior official said that Iran’s steel output capacity had increased by more than six times in 20 years to reach a current figure of 45 million mt per year.
- Iran is seeking greater access to export target markets as the domestic demand for steel is expected to stay at a present level of 20 million mt per year in the coming years.
Economy
Saudi ministry inks economic pact with Alfaisal University
RIYADH, SAUDI ARABIA - The Kingdom's Ministry of Economy and Planning signed a deal with Alfaisal University to promote economic...
- Under the MoU, the two parties will cooperate to promote economic development, activate academic research.
- The Ministry of Economy and Planning will provide consultations on the use of university resources such as student research.
Arts & Culture
Nine works nominated for 9th Katara Prize for Arabic Novel
Doha, Qatar - The Cultural Village Foundation (Katara) revealed the lists of nine works that would be included in the...
- This includes published novels, unpublished novels, young adult unpublished novels and unpublished critical studies, with a total reaching 36 novels and critical studies.
- The 9th edition of the Katara Prize for Arabic Novel saw 1,491 entries and the number of unpublished novels participating was about 833.
Business
Chimera launches Lunate
Lunate has more than $50bn in Assets Under Management.
- With a focus on private markets, Lunate is an independent entity owned by Chimera Investment and Lunate’s senior management.
- Lunate, which will be based in Abu Dhabi Global Market, has signed long-term Separate Managed Accounts (SMAs) with multiple clients.
Business
Qatar’s Hamad International Airport named world’s second-best
London, United Kingdom -- Qatar's Hamad International Airport has been named as the best airport in the Middle East, and...
- At this year's Business Traveller Awards, the airport was also named as the best in the Middle East.
- After a multi-billion-dollar overhaul last year, the airport raised its capacity from 40 million passengers a year to 58 million.
Russia to hold talks with US in Riyadh Monday: Kremlin
Donald Trump spoke to both Russia's Vladimir Putin and Ukraine's Volodymyr Zelensky this week and the US is also due...
Geostrategy
Company News
Beltone 9M net profit at $2.7m
Business
Latest News
Over-confidence leaves UAE consumers prone to online frauds: Visa study
Dubai, United Arab Emirates – Over-confidence is leaving consumers in UAE open to becoming victims of fraud, according to Visa’s...
Business
Saudi Crown Prince launches urban plan of Qiddiya city
Riyadh, Saudi Arabia -- Crown Prince Mohammad bin Salman, Prime Minister and Chairman of the board of directors of the...
Business
North-South Corridor, Palestine key agenda of Raisi-Putin talks in Moscow
Dubai, UAE – Iranian President Ebrahim Raisi, ahead of his visit to Moscow, has emphasized the importance of the North-South...
Geostrategy
Most Read
Real estate deals in Bahrain decline marginally in third quarter: CBRE
Manama, Bahrain - Real estate transactions in Bahrain recorded a marginal 2.5 percent decline in Q3 2023, totaling 5,145 compared to the...
- Quoted apartment sales experienced a slight decrease of 1.7 percent, while apartment rents rose by 3.2 percent.
- Villa rents and sales, on the other hand, saw significant increases of 4.3 percent and 1.2 percent, respectively
Geostrategy
Ambitious agreements mark Saudi Crown Prince’s Qatar visit
Doha, Qatar – Following a landmark visit by Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud to Qatar,...
- The two countries expressed deep concern about the humanitarian situation in Gaza and the need for a comprehensive and just resolution to the Palestinian question.
- Economic and trade discussions focused on enhancing economic partnerships, diversifying trade, and investing in opportunities within the framework of their transformative visions.
Economy
Saudi Arabia expects budget deficits in 2023 and 2024 as spending rises
The announcement comes one year after the Gulf kingdom, the world's biggest crude exporter and the Middle East's largest economy,...
- The deficit for 2023 is expected to amount to 82 billion Saudi riyals (roughly $21.8 billion), while in 2024 it is expected to total 79 billion Saudi riyals (roughly $21 billion)
- The projections broadly align with a pre-budget statement issued in October that indicated deficits would last through 2026.