Saudi knowledge economy accelerates as Vision 2030 targets move within reach
The government has successfully implemented more than 900 reforms, including restructuring legal and labor frameworks, establishing new public authorities, and...
Economy
GCC capital market reforms spawn IPO, foreign investment wave
For a region long shaped by sovereign balance sheets and state-owned champions, the Gulf is quietly rewiring its financial plumbing,...
Business
Business
Decree issued to form Board of Dubai Corporation for Ambulance Services
Dubai, UAE -- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum Monday issued a decree for the formation of the...
- The Assistant Commander-in-Chief for Excellence and Pioneering Affairs of Dubai Police will serve as the Vice Chairman of the Board.
- These representatives will be named by the respective heads of these entities. The Board also includes the CEO of Dubai Corporation for Ambulance Services.
Economy
Saudi Arabia jumps to second rank in ICT index among G20 nations
Riyadh, Saudi Arabia -- Saudi Arabia jumped 10 ranks to second place among the G20 countries according to International Telecommunication...
- The index monitors the economies of 169 countries to measure their progress in ICT services through two main pillars ‘universal connectivity’ and ‘meaningful connectivity.
- It reflects the robust and developed digital infrastructure, with an increase of 99 percent of Internet penetration rate in Saudi Arabia.
Geostrategy
Regional players welcome ceasefire and political process in Yemen
Riyad, Saudi Arabia -- Key regional players have welcomed the agreement – involving a comprehensive set of measures aimed at...
- This pivotal agreement includes a nationwide ceasefire, initiatives to enhance living standards, and steps towards resuming a comprehensive political process under UN's guidance.
- The Qatari Ministry of Foreign Affairs expressed hope for the roadmap's imminent signing, contributing to a comprehensive political solution to the Yemeni crisis.
Business
Hamriyah, Deira ports report $3.30bn in customs declaration
Dubai, UAE -- Hamriyah and Deira ports have reported 62,454 customs declarations, totaling AED 12.133 billion ($3.30 billion), with 19...
- Khor Customs Centre and Deira Port successfully prevented an attempt to smuggle 243 kilograms of narcotics into the country.
- An advanced container X-ray inspection device, supporting increased inspection operations, is operational at te Hamriyah Port Customs Centre.
Geostrategy
Israeli forces detain 4,695 Palestinians in West Bank since Oct 7
The Palestinian Prisoners Society (PPS) and the Detainees and Ex-Detainees Affairs Authority say the tally includes the Palestinians detained at...
- The statement said Israeli forces continue to carry out widespread acts of abuse, brutal assaults, on-field interrogations, and threats against detainees and their families.
- Since Oct 7, West Bank Palestinians have witnessed growing settler violence and the displacement of small herding villages on land coveted by Israel.
Geostrategy
SFD-financed Arkiz Agricultural Project in Mauritania inaugurated
Dubai, UAE -- The Arkiz Agricultural Project in Mauritania, which has been financed by the Saudi Fund for Development (SFD)...
- The project will improve the efficiency of Mauritania's water, irrigation and drainage facilities, while delivering agricultural equipment and potable water to farmers.
- Since 1979, the fund has contributed toward 20 development projects in Mauritania, at a value of over $665 million.
Business
$661m plot of land among weeklong real estate deals in Dubai
The emirate recorded a total of 3,785 real estate transactions worth AED 16.6bn ($4.51 billion) during the week ending 22...
- The sum of the amount of mortgaged properties for the week was 2.29bn, with the highest being a land in Al Safouh Second, mortgaged for AED 509.2 million.
- A total of 216 plots were sold for AED 4.91bn 2,729 apartments and villas were sold for AED 7.49bn. A total of 257 properties were granted between first-degree relatives.
Economy
Russia won’t consider ratings while granting loans to countries
Previously, to be eligible for a loan from Moscow, a country could not be categorized in the sixth or lower...
- Additionally, loans were not extended to countries with long-term creditworthiness ratings below B- from Fitch or Standard & Poor’s, or below B3 from Moody’s.
- Under the new decree, Russia will no longer adhere to international institutions' recommendations when extending loans to other countries.
Business
ESG buys majority stake in UIG
The move is likely to enhance ESG’s manpower portfolio.
- ESG is a global investment, engineering and construction services business and a subsidiary of International Holding Company.
- The strategic plan aims to deploy over 30,000 skilled professionals by the end of 2024, serving various sectors.
Geostrategy
Angola departure a blow for OPEC+ as cartel tensions rise
Despite slashing oil production for months on end and announcing new cuts in late November, the Organization of the Petroleum...
- Prices are sitting at their lowest level in nearly six months despite the cartel's announcement in November to further cut output.
- Angola is far from the first small country to quit the cartel. Indonesia left in 2009, Qatar in 2019 and Ecuador in 2020.
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
Saudi knowledge economy accelerates as Vision 2030 targets move within reach
The government has successfully implemented more than 900 reforms, including restructuring legal and labor frameworks, establishing new public authorities, and...
Economy
Company News
Qatar’s ‘Hit Show’ wins $12 million Dubai World Cup
Arts & Culture
Latest News
Saudi table egg production crosses 8 billion, achieves 100% self-sufficiency
Riyadh, Saudi Arabia -- Saudi Arabia's poultry sector has reached complete self-sufficiency in table egg production, with output surpassing 8...
Business
West Bank eviction film ‘No Other Land’ wins best documentary Oscar
Jerusalem -- No Other Land, a documentary about Israeli settlement in the occupied West Bank, has won the best documentary award...
Arts & Culture
Future of Humanity – TRENDS’ yearly Special Issue now online
Dubai, UAE -- TRENDS’ yearly Special Issue is out. This year’s edition, titled Future of Humanity, explores key global shifts...
Geostrategy
Most Read
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...
- First up is Firefly Aerospace's Blue Ghost Mission 1, nicknamed "Ghost Riders in the Sky."
- Blue Ghost's arrival will be followed on March 6 by Intuitive Machines' IM-2 mission, featuring its lander, Athena.
Geostrategy
Europe backs Zelensky after White House showdown with Trump
German Foreign Minister Annalena Baerbock said the "unspeakable" row "underlined that a new age of infamy has begun". Friedrich Merz,...
- Russia backed Trump, who openly berated Zelensky on Friday and accused him of having "disrespected" the United States.
- European Union chiefs Antonio Costa and Ursula von der Leyen assured Zelensky in a joint statement that he was "never alone".
Arts & Culture
81 percent of Saudi population attends cultural events, activities in 2024: GASTAT
Riyadh, Saudi Arabia -- Nearly 81.6 percent of Saudi individuals visited at least one cultural event or activity in 2024, according...
- The survey said that 85.3 percent attended at least one entertainment event or activity.
- The data showed that 65.8 percent of individuals visited parks and gardens, 40.5 percent attended national celebrations.