Saudi Arabia plans to sustain borrowing spree to fund major projects beyond oil: report
Saudi Arabia secured a $2.5 billion revolving credit facility from Abu Dhabi Islamic Bank, Credit Agricole SA, and Dubai Islamic...
Economy
US proposes $8B arms deal with Israel; Biden plans strikes on Houthis as Gaza aid faces Trump-era cuts
The US proposes an $8 billion arms deal with Israel, plans intensified strikes on Yemen's Houthis, while Israel considers cutting...
Geostrategy
Economy
India to connect its power grid with Saudi Arabia, UAE
New Delhi, India--India is looking to connect its power grid with Saudi Arabia and the UAE by way of undersea...
- The agreements between India and Saudi Arabia and the UAE are expected to be signed once the Indian cabinet ratifies the decision
- In January this year, India and the UAE said they will conduct a feasibility study to link up their power grids through underwater cables
Business
DEWA, Xanadu partner to develop ‘efficient, reliable’ energy systems
Dubai, UAE— Dubai Electricity and Water Authority (DEWA) and Xanadu, a Canadian quantum computing company, are considering strategic cooperation in...
- The meeting between DEWA’s CEO and Xanadu’s CEO discussed the latest developments in quantum computing technology and its impact on the energy sector
- Al Tayer noted the importance of the technology in addressing the world’s biggest challenges like climate change and energy sustainability
Economy
Bahrain’s real GDP grows by 4.09% in Q4 2022
Manama, Bahrain - Bahrain has reported a 4.09 percent increase in its real GDP in the fourth quarter of 2022...
- The high-achieving sectors include the financial corporations sector which grew by 8.22 percent and the trade sector, which increased by 6.57 percent
- With 18.57 percent of the GDP, the financial corporations sector contributed the most to Bahrain's economy, followed by the crude oil and natural gas sectors
Business
Saudi Arabia partners with South Korean firm to boost its gaming industry
Riyadh, Saudi Arabia— Saudi Arabia has signed a memorandum of understanding (MoU) with Wemade, a South Korean firm, to boost...
- The agreement with Wemade, the South Korean firm, is expected to boost the kingdom’s chances to be among the top leaders in the industry
- Savvy Games, a firm owned by the Public Investment Fund, bought out Scopely, the US-based gaming company, for $4.9 billion in April
Economy
Jordan urges financial support to UNRWA for refugee relief
Amman, Jordan - Jordan has urged the international community to provide urgent financial support to the United Nations Relief and...
- The call was made by Jordanian Foreign Minister Ayman Safadi during his meeting with UNRWA Commissioner-General Philippe Lazzarini in Jordan on Tuesday
- They discussed efforts to bridge the financial deficit and ensure that the agency can continue to provide education, and relief aid to Palestinian refugees
Arts & Culture
Hollywood sensation Jason Momoa is new ‘Chief Island Officer’ of Yas Island Abu Dhabi
Abu Dhabi, UAE – Yas Island Abu Dhabi, the country’s leisure and entertainment destination, appoints Jason Momoa to be the...
- American actor Momoa assumes the former role of stand-up comedian Kevin Hart who announced the end of his reign as Chief Island Officer earlier this year
- In the new trailer video, Jason is seen making a casual yet epic entrance on a paddle board announcing that his calling has led him to “this ridiculously awesome job.”
Economy
Abu Dhabi Festival celebrates 20 years with record number of visitors
Abu Dhabi, UAE— More than 20,000 people visited the 20th edition of Abu Dhabi Festival in the first twenty days...
- Over 20,000 visitors attended the festival in March that saw nine performances by different artists, composers, and musicians
- The local Emirati singer and rising star Rashed Al Nuaimi gave a performance during the festival’s opening night
Geostrategy
UAE urges UN Security Council to resolve conflicts through dialogue
NEW YORK, US - UAE Minister of State Khalifa Shaheen Al Marar urged United Nations Security Council members to peacefully...
- The UAE calls upon UNSC to bring peaceful resolution to conflict and crises, from Sudan to Ukraine.
- UAE says it is imperative to promote dialogue and cooperation among nations to address challenges.
Economy
DEWA, RTA ink deal to sponsor Green Economy Summit
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has signed a sponsorship agreement with the Roads and Transport Authority...
- RTA will be the Platinum Sponsor of the World Green Economy Summit for three sessions from 2023-2025.
- The World Green Economy Summit plays a fundamental role in supporting the UAE’s outstanding efforts in climate action, said DEWA chief.
Business
Saudi Arabia jumps to fifth place in global military expenditure: Report
The country increased its military spending by 16 percent to reach an estimated $75 billion, surpassing the United Kingdom, Germany,...
- The country increased its military spending by 16 percent to reach an estimated $75 billion
- The Middle East, with Saudi Arabia in the lead, had the highest military burden in 2022
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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
Saudi Arabia plans to sustain borrowing spree to fund major projects beyond oil: report
Saudi Arabia secured a $2.5 billion revolving credit facility from Abu Dhabi Islamic Bank, Credit Agricole SA, and Dubai Islamic...
Economy
Company News
Zain KSA expands 5G network
Business
Latest News
Mawani reports rise in container handling
The growth aligns with the aims of national logistics strategy.
Business
Iran wants trade with Saudi Arabia to be highest in region: Ambassador
Riyadh, Saudi Arabia - Iran wants to elevate the levels of trade and investment exchanges with Saudi Arabia to the...
Business
Iran, India reach final agreement on Chabahar Port
Tehran, Iran – Iran and India on Monday finalized an agreement for the development of the strategic Chabahar port in...
Geostrategy
Most Read
Business
Aramco Digital, Intel to join hands
The aim is to help develop of Open RAN technologies.
- The facility is expected to drive innovation, foster technological advancements and contribute to the digital transformation landscape in the Kingdom.
- This collaboration aims to align with Saudi Arabia's Vision 2030, which focuses on technological advancements and economic diversification.
Business
Saudi Arabia unveils 45,000-seat multi-use stadium in Qiddiya City
RIYADH, SAUDI ARABIA - The Board of Directors of the Qiddiya Investment Company (QIC) announced on Monday the launch of...
- Upon opening, the stadium is anticipated to host some of Saudi Arabia’s biggest sports, entertainment, and cultural events.
- It aims to draw visitors from across the globe and revolutionize the traditional stadium experience with its immersive design.
Geostrategy
Saudi Arabia, China ink MoU in accounting and auditing
RIYADH, SAUDI ARABIA – The Kingdom and the People’s Republic of China signed on Monday in Beijing a memorandum of...
- The MoU is similar to other agreements that GCA has reached with counterpart organizations in different countries.
- These agreements underscore GCA's elevated professional standing, at both regional and international levels.