Ceasefire agreement between Israel and Hamas goes into effect, marking first steps toward peace
As the first phase of the ceasefire takes effect, the world watches to see whether this temporary reprieve will be...
Geostrategy
Israel, Hamas ceasefire begins Sunday, includes hostage deal, phased Israeli withdrawal, more aid for Gaza
The deal, brokered by the U.S., Egypt, and Qatar, includes Hamas releasing 33 hostages and Israel freeing hundreds of Palestinian...
Geostrategy
Arts & Culture
Saudi Arabia to celebrate International Yoga Day in Riyadh City: Indian daily
Dubai, UAE - Saudi Arabia is gearing up to celebrate International Yoga Day on June 21 in Riyadh City, an...
- On June 16 the Indian community in Saudi Arabia celebrated Yoga at Real Madrid Stadium in Riyadh and the programme was called 'Disha Yoga Meet'
- More than 2000 Yoga enthusiasts joined the event which was by diplomats from other missions and also by Saudi Arabian Yoga instructor Nouf AL Marwai
Geostrategy
Kuwait forms new government led by Sheikh Ahmad Nawaf al-Sabah
Kuwait - Kuwait on Sunday formed a new government led by the Prime Minister, Sheikh Ahmad Nawaf Al-Ahmad Al-Jaber Al-Sabah....
- Saad Al Barrak was named as oil minister, replacing Bader Al-Mulla and Manaf Abdulaziz Al Hajri was reappointed as Finance Minister.
- The outgoing government had resigned following parliamentary elections held earlier this month in the Gulf OPEC oil producer
Economy
Oman’s SMEs leading the way in transition to a low carbon economy: report
Muscat, Oman - The small and medium-sized enterprises (SMEs) are playing a critical role in ushering in Oman's shift towards...
- A growing number of Omani SMEs are actively transforming their business models to embrace sustainable practices
- The SMEs account for 90 percent of firms worldwide and consume 13 percent of energy used by businesses
Business
Dubai Chamber of Digital Economy launches report on the emirate’s economy
DUBAI, UAE - Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has launched its...
- Dubai's Venture Capital Ecosystem provides an overview of the investor landscape backing start-ups and scale-ups in the MENA region.
- Dubai Chamber of Digital Economy is tasked with attracting leading tech firms, start-ups and scale-ups that can support the Emirate's digital ambitions.
Business
ADDED signs pact with Valeo to set up automotive technology hub in Abu Dhabi
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED) has partnered with Valeo to develop the automotive industry...
- Valeo plans to explore new areas of development by integrating its advanced technologies and its sustainability vision in green cities.
- The agreement to design and manufacture electric and autonomous driving car components will improve smart and sustainable mobility.
Business
Oman, India trade surged to $10bn in 2022
Muscat, Oman - India and Oman trade in 2022 reached $9.98 billion reflecting the deepening economic and commercial ties between...
- The nearly 90 percent growth in trade compared to the previous year highlights the strong demand for Indian goods and services in Oman
- The bilateral trade growth has been fuelled by over 6,000 India-Oman joint ventures in Oman, accounting for an investment of over $7.5 billion
Business
Stable oil price achieved by OPEC, OPEC+ to benefit member states: Saudi oil chief
Baghdad, Iraq - The Organization of the Petroleum Exporting Countries (OPEC) and OPEC+ alliance have succeeded in achieving stable oil...
- The Saudi minister made the statement during a celebration hosted in the Iraqi capital, Baghdad on Friday marking the Diamond Anniversary of the OPEC's founding
- Both the OPEC and the OPEC+ have succeeded in achieving stability in markets, thanks to consensus among all OPEC member states, Al-Saud said
Science
Saudi astronauts Rayana Bernawi, Ali Al-Qarni, Mariam Fardous, Ali Al-Ghamdi return home
Riyadh, Saudi Arabia – The Saudi astronauts Rayana Bernawi, Ali Al-Qarni, Mariam Fardous, and Ali Al-Ghamdi arrived in Riyadh today...
- Saudi astronauts Rayana Bernawi and Ali Al-Qarni returned to earth on May 31 from the ISS, where they conducted 14 research experiments on microgravity
- Al Qarni undertook an experiment on cloud seeding, wherein he combined salt crystals with moist air within a controlled environment
Business
Dubai International Chamber opens Europe’s first representative office in UK
DUBAI, UAE - Dubai International Chamber (DIC), one of the three chambers operating under Dubai Chambers, inaugurated on Friday a...
- The new office will focus its efforts on strengthening relationships with key public and private sector stakeholders.
- The office will support UK firms seeking to relocate to expand in Dubai and grow their business through the emirate.
Business
Saudi Arabia’s SVC invests $30m in Bedaya Fund II
RIYADH, SAUDI ARABIA - Saudi Venture Capital (SVC) announced its investment of US$30 million in Bedaya Fund II, which is...
- SVC is a government investment company and is a subsidiary of the SME Bank, one of the development banks affiliated to the National Development Fund.
- SVC aims to stimulate and sustain financing for startups and SMEs from pre-Seed to pre-IPO by investing $1.6 billion in funds and co-financing in startups.
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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
Ceasefire agreement between Israel and Hamas goes into effect, marking first steps toward peace
As the first phase of the ceasefire takes effect, the world watches to see whether this temporary reprieve will be...
Geostrategy
Company News
Latest News
Jeddah Central Development Company signs 4 contracts worth $3bn
Jeddah, Saudi Arabia - The Jeddah Central Development Company, a company owned by the Public Investment Fund (PIF), signed four...
Business
Saudi Arabia, Swiss Fund unveil billion-euro initiative for zero-emissions investments
Riyadh, Saudi Arabia - Saudi Arabia and Swiss Fund have decided to initiate financing initiatives in the debt market in...
Economy
WW3 may begin before US President Biden’s term ends, Trump says
NEW YORK, US - World War III may break out before US President Joe Biden leaves office, former US president...
Geostrategy
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Business
QatarEnergy, Mitsui ink pact
The agreement provide for a rise in condensate volumes.
- The 10-year supply agreement stipulates the supply of up to 11 million barrels of condensates per annum, starting from April 2024.
- The agreement highlights QatarEnergy's strategy of establishing longer-term strategic business relationship and cooperation.
Business
Total M&A market drops to US$3.2trn in 2023, says report
DUBAI, UAE - The total M&A market dropped 15 percent, to US$3.2 trillion, the lowest level in a decade, as...
- Many of the assets that did not come to market last year will fuel active dealmaking in 2024.
- The collapse of technology M&A has been the biggest drag on strategic mergers and acquisitions.
Business
Jordan’s EMRC grants approvals for EV charging infrastructure
AMMAN, JORDAN - The Energy and Minerals Regulatory Commission (EMRC) has issued over 300 authorizations for the installation of electrical...
- EMRC records indicate a distribution of 49 publicly accessible charging stations alongside 14 privately owned stations.
- The capacity for the installation of multiple charging units at a single site, with 230 charging facilities holding establishment permits.