Qatar’s non-energy private sector shows strong growth in 2024
Doha, Qatar – Qatar’s non-energy private sector recorded robust growth in the final months of 2024, according to the latest...
Economy
Females make up 37.6% of the GCC population of 57.6 million
Muscat, Oman - The population of the six GCC countries reached 57.6 million in 2023, compared to 56.6 million in...
Economy
Economy
UAE growing EV charging stations from 500 to 800
Abu Dhabi, UAE - The UAE is growing the number of Electric Vehicle (EV) charging stations from 500 to 800...
- Recent years have seen the UAE make a push towards adoption of electric vehicles
- The country's EV market is expected to grow at a CAGR of 30 percent until 2028
Business
DEWA announces pilot use of ChatGPT on its website
Dubai, UAE: Dubai Electricity and Water Authority (DEWA) announced the pilot use of ChatGPT, since April 2023, on its website...
- DEWAt is the first utility in the world and the first government organisation in the UAE to use ChatGPT
- The step has been taken as part of the company’s strategy to employ Artificial Intelligence
Economy
Saudi Arabia launching tourism projects worth $400m
Riyadh, Saudi Arabia - Saudi Arabia is launching tourism projects worth SAR 1.5 billion ($400 million) in the targeted destinations...
- The Saudi Ministry of Tourism has sponsored ‘The Collective’ initiative launched by Kerten Hospitality, a hotel investment firm, to establish its projects under one umbrella
- The announcement represents an important step toward achieving the objectives of the national tourism strategy by developing quality hospitality facilities
Business
Net profit of QSE listed companies dips by 10% in Q1
Doha, Qatar - Fifty companies listed on Qatar Stock Exchange (QSE) have reported a combined net profit of $3.45 billion...
- The industries sector saw the biggest decline of 44.18 percent, resulting in a net profit of $656.22 million
- The insurance sector recorded the highest growth with a 79 percent increase, generating a net profit of $102.94 million
Economy
Sharjah’s GDP grows 5.2% to $37bn in 2022
Sharjah, UAE - Sharjah's GDP has grown by 5.2 percen to AED 136.9 billion ($37.05 billion) compared to AED 130.1...
- The non-oil sector has reported a 5.2 percent increase, bringing the total to AED 133.4 billion (36.08 billion) in 2022
- 'Wholesale and retail trade; repair of motor vehicles and motorcycles' achieved the highest growth in the emirate's GDP
Business
DEWA Q1 profit $207.8m
Growth in revenue driven by surge in demand for electricity, water.
- By the end of Q1 2023, DEWA served 1,169,713 customers, representing an increase of 12,212 customers from Q4 2022.
- Quarterly revenue growth for electricity, water and cooling services increased by 7.2 percent, 7 percent and 4.6 percent respectively.
Economy
Iran’s annual trade with BRICS rises by 14% to $38.4bn
Tehran, Iran – Iran’s trade with BRICS member states reached 47.99 million tons worth $38.43 billion in fiscal 2022-23. In...
- In fiscal 2022–23, Iran's trade with the BRICS nations—Brazil, Russia, India, China, and South Africa—amounted to 47.99 million tonnes worth $38.43 billion
- China was Iran’s main trade partner among BRICS members with 35.55 million tons (up 8.71 percent) worth $30.32 billion (up 37.41 percent) of exchanges
China pivot to Central Asia: Xi to host first summit with regional countries
The summit in the city of Xi'an is the first of its kind, according to Chinese state media, and will...
- Leaders of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan are expected to attend the China-Central Asia Summit from May 18 to 19, said China's foreign ministry
- The summit in the city of Xi'an is the first of its kind, according to Chinese state media, and will focus on strengthening economic and diplomatic ties with Beijing
UAE’s Al Hammadi is Chairman of Board of Directors of World Nuclear Association
Abu Dhabi, UAE - Mohamed Ibrahim Al Hammadi, Managing Director and Chief Executive Officer of Emirates Nuclear Energy Corporation (ENEC),...
- The position sets Al Hammadi on track to take over as the Chairman of WNA in 2024
- The WNA supports the development of nuclear energy programmes worldwide
Geostrategy
Saudi crown prince holds talks with US, UAE, Indian NSAs on regional connectivity, link to South Asia
The participants are reported to have discussed the broad contours of the massive joint project to build railway, maritime and...
- The participants discussed the broad contours of the massive joint project to build railway, maritime and road connectivity in the larger region
- They also deliberated ways to strengthen relations and ties between their countries in order to enhance growth and stability in the region
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Qatar’s non-energy private sector shows strong growth in 2024
Doha, Qatar – Qatar’s non-energy private sector recorded robust growth in the final months of 2024, according to the latest...
Economy
Company News
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Saudi Arabia lists priority specializations for Special Talent Residency
Riyadh, Saudi Arabia - Saudi Arabia's Premium Residency Center on Sunday revealed a list of priority specializations that qualify individuals...
Economy
Stop military operations in Palestine: Saudi minister
Kampala, Saudi Arabia - Saudi Deputy Minister of Foreign Affairs Eng. Waleed Al-Khereiji stressed on Sunday the imperative to halt...
China remains world’s largest logistics market in terms of demand
BEIJING, CHINA - The logistics sector in the country achieved steady recovery in 2023 and the country remains the world's...
Business
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Business
Cinema ticket prices in Saudi Arabia decline by 16% in 2023
Riyadh, Saudi Arabia - The average cinema ticket prices decreased by over 16% in 2023 compared to the previous year,...
- With 627 screens across 69 venues nationwide, Saudi Arabia's cinema sector is expanding at one of the fastest rates globally
- In 2022 and 2023, box office sales exceeded $240 million annually, with over 17 million cinema tickets sold in 2023 alone
Saudi Dakar rally 2024 concludes with participation of 778 drivers, co-drivers
Riyadh, Saudi Arabia - The city of Yanbu witnessed on Friday evening the closing ceremony of the 5th edition of...
- 778 drivers and co-drivers participated navigating a fleet of 434 vehicles in 6 categories: cars, motorcycles, all-terrain vehicle (ATV) or quads and others
- Spanish driver Carlos Sainz, from team "Audi," clinched the title for the fourth time in the car category, marking his second win in the Kingdom
Economy
Pakistan, Dubai ink deals worth $3 billion at Davos
Davos, Switzerland - Pakistan and Dubai signed two agreements totaling over $3 billion on the sidelines of the World Economic...
- One of the key agreements involves the establishment of a rail-based dedicated freight corridor
- It will run from Karachi Port on the Arabian Sea through Karachi to the Pipri Marshalling Yard