IsDBI begins building digital marketplace for Islamic finance
Jeddah, Saudi Arabia -- The Islamic Development Bank Institute (IsDBI) has kicked off the development of the Islamic Finance Knowledge...
Business
Arts & Culture
25 teams attending Afro-Arab Esports League 2023 in Saudi Arabia
Riyadh, Saudi Arabia -- The Afro-Arab Esports League, which opened Saturday in Saudi Arabia, will see participation from over 25...
- These teams will compete for three days in a variety of tournaments tailored for both men and women, covering popular games such as eFootball and Valorant.
- Prince Faisal bin Bandar bin Sultan said the arrangement of the Afro-Arab Esports League demonstrated of the sector's importance in both the Arab and African realms.
Business
Brazilian exports to Arab countries up 8% in seven months
Dubai, UAE -- The Arab Brazilian Chamber of Commerce (ABCC) recorded a surge of 8 percent in Brazilian exports to...
- Brazilian exports to the the kingdom totaled to $1.873 billion in the first seven months of 2023, while exports to exports to the United Arab Emirates amounted to $1.646 billion.
- Kuwait also witnessed an increase in the Brazilian exports, which amounted to $157.78 million during this period.
Geostrategy
Hungarian companies want to expand work in Russia, says PM Orban
BUDAPEST, HUNGARY – Hungarian Prime Minister Viktor Orban said that companies from his country plan to expand their activities in...
- Hungarian Prime Minister Viktor Orban made the statement at a meeting with the head of Russia’s Tatarstan region Rustam Minnikhanov in Budapest.
- The head of Tatarstan came to Budapest at the invitation of Orban in connection with the Hungarian national holiday, St. Stephen's Day.
Geostrategy
EU well-prepared for winter as gas reserves hit 90% ahead of target
The speedy filling of storage facilities means the bloc is "in a much more stable position than it was this...
- The crisis sparked by Russia's war led to the European Union adopting a law requiring the 90-percent gas storage by November 1 each year.
- Before Moscow launched its invasion in February 2022, Russia accounted for nearly half of the EU's natural gas imports.
Business
Dubai records $2.83bn billion in weekly real estate transactions
Dubai, UAE -- Real estate transactions valued at more than AED 10.4 billion ($2.83 billion) were recorded in Dubai during...
- Of the total 3,571 transactions,120 plots were that sold for AED1.2 billion and 2,782 apartments and villas were that went for AED6.86 billion.
- A total of 109 properties were granted between first-degree relatives worth AED438 million.
Geostrategy
Iran first Islamic country to have modern observatory, says official Â
TEHRAN, IRAN – Iran is the first Islamic country to possess a very modern observatory, the head of the Institute...
- The head of the Institute for Research in Fundamental Sciences said that Iran lacked the resources to build an observatory.
- He added that an observatory is like a living entity, and continuous work and progress are necessary for proper functioning.
Business
India cricket board earns nearly $300 million from 2022 IPL
New Delhi, India -- India's cricket board banked nearly $300 million from last year's iteration of its Indian Premier League,...
- The Board of Control for Cricket in India (BCCI) is one of the richest governing bodies in global sport, owing largely to the runaway success of the flagship Twenty20 tournament.
- The IPL has made millionaires of its top players and generated billions from media rights since its inception in 2008.
Geostrategy
Turkish officials discuss scenarios around stalled Russia grain deal
Turkey’s top diplomat Hakan Fidan is planning to discuss the results of these discussions with Russian Foreign Minister Sergey Lavrov...
- Under another scenario, unilateral actions will be taken to set up alternative routes based on bilateral agreements, particularly for Ukrainian agricultural supplies via the Danube
- The third, an only 'viable option', envisages a revival of the grain deal "as soon as certain Russian concerns are removed".
Business
Etihad Cargo flight lands in Hubei
Hubei's Ezhou Huahu Airport is world's fourth professional cargo airport.
- Etihad Cargo's Boeing 777-200 freighter arrived in Ezhou on Friday, making the carrier the first international airline to operate flights to the airport.
- Equipped with a 23,000sqm cargo terminal and a 700,000sqm freight transit center, the airport serves as a gateway for air trade between China and the rest of the world.
Business
Dubai real estate market records deals worth $653 million
Dubai, UAE -- Dubai's real estate market recorded deals worth AED 2.4 billion ($653 million) on Thursday, according to Dubai...
- The deals included 591 sales transactions worth AED1.76 billion on Thursday, in addition to 125 mortgage deals totaling AED613.72 million.
- The sales included 561 villas and apartments worth AED1.42 billion, and 30 land plots worth AED336.26 million.
Company News
Burgan Bank Sells 52% stake
Business
Latest News
ADNOC Drilling, Alpha Dhabi set up JV
Geostrategy
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
ADDED launches program to improve SMEs’ access to financial services
Abu Dhabi, UAE -- The Abu Dhabi Department of Economic Development (ADDED) has launched a program to improve the access...
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
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Economy
ADB plans to invest US$100bn to maximize climate impact
MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB)...
- By 2030, more than 55 percent of the population of Asia and the Pacific will live in urban areas, driving up demand for urban-related services.
- If urban areas continue along the same growth trajectory, Asian cities could contribute over half of the rise in global GHG emissions in the next 20 years.
Business
Dubai records weeklong real estate deals worth $2.45 billion
Dubai, UAE -- A total of1,852 real estate transactions valued at more than AED 9 billion ($2.45 billion) were conducted...
- The DLD weekly report said that 384 plots were sold for AED 2.54 billion, 1,468 apartments and villas were sold for AED 3.38 billion.
- A total of 139 properties were granted between first-degree relatives worth AED507 million.
Arts & Culture
Jeddah Program named cultural destination of FIFA Club World Cup
Riyadh, Saudi Arabia -- The Historic Jeddah Program has secured sponsorship rights as the official cultural destination and main supporter...
- This prestigious tournament will be hosted in Jeddah from December 12 to 22, 2023, marking the first time it will be held in the Kingdom.
- The program's sponsorship of this tournament is part of its efforts to showcase the historic Jeddah region, a UNESCO World Heritage Site.