In stabilization bid, Syria’s new ruler declares all weapons under state control, including Kurdish arms
Ahmed al-Sharaa announced all weapons, including those held by Kurdish-led forces, will come under state control, emphasizing unity and coexistence...
Saudi-US higher education partnerships forum launched
Riyadh, Saudi Arabia - Minister of Education Yousef bin Abdullah Al-Benyan alongside U.S. Ambassador to Saudi Arabia Michael Ratney, on...
Economy
Joblessness among Saudis falls to 8%, an all-time low
The jobless rate for Saudi women dropped to 15.4 percent in the fourth quarter, down 5.1 percent from the third...
- The labour force participation rate of Saudis remained unchanged at 52.5 percent, and the employment-to-population ratio of Saudis rose by 1 percent to 48.3 percent
- The jobless rate for Saudi women dropped to 15.4 percent in the fourth quarter, down 5.1 percent from the third quarter and 7.1 percent from a year earlier
Business
Saudi ministries ink MoU with Korean NAVER Group for joint digital projects
Riyadh, Saudi Arabia - The Saudi Ministry of Municipal, Rural Affairs, and Housing and the Ministry of Investment have signed...
- Naver will help the Saudi Arabian government with digital transformation projects, possibly involving robotics
- The company pitched its smart building technology used in the Naver 1784 building during the trip to Saudi Arabia
Business
UAE launches new weekly shipping service to Qatar, Kuwait
Abu Dhabi, UAE - The AD Ports Group has launched a new weekly shipping service that facilitates commercial and logistic...
- Through the new service, AD Ports aims to enhance commercial and logistic connectivity with Qatar and Kuwait.
- AD Ports Group would provide customers with a digital appointment booking system for the new service through the Advanced Trade and Logistics Platform (ATLP).
Business
Aldar, Mubadala to develop new commercial assets on Al Maryah Island
Abu Dhabi, UAE - Aldar Properties and Mubadala Investment Company have signed an agreement to develop commercial assets in Al...
- The addition of the new tower will bring Aldar Investment’s total net leasable area of commercial office space to over 400,000 sqm
- Aldar’s active asset management and the increased leasing activity, office leasing occupancy of the four ADGM office towers have reached 96%
Business
Empower to pay $116m dividends
The amount makes 42.5% of the company's paid-up capital.
- The dividends are approved for the second half of the year 2022, and are set to be paid to shareholders in April
- The company expects to pay a minimum dividend $231 million per annum in the first two fiscal years following its DFM listing
UAE President names new Vice President and Crown Prince of Abu Dhabi
The appointments signal a new phase in the UAE's leadership and its commitment to pursuing economic growth and development while...
- Sheikh Mohamed appointed Sheikh Mansour bin Zayed as Vice President and Sheikh Khaled bin Mohamed as Crown Prince of Abu Dhabi
- The president also named Sheikh Tahnoun bin Zayed and Sheikh Hazza bin Zayed as Deputy Rulers of Abu Dhabi
Muslim World League launches Ramadan Food Baskets Project in Pakistan
Islamabad, Pakistan – The Muslim World League (MWL) launched a program for distributing Ramadan food baskets in Pakistan as part...
- A celebration to mark the launch of the program was held today at MWL’s headquarters, attended by Saudi Ambassador to Pakistan Nawaf bin Saeed Al-Maliki
- Saad bin Masoud Al Harthy, the MWL's regional director, stated that the program distributes 3,500 food baskets to provide a month of sustenance for a family
Business
Nakilat obtains approval for full non-Qatari ownership
Doha, Qatar - Qatar Gas Transport Company Ltd. (Nakilat), the largest LNG shipping fleet owner in the world, announced that...
- The net profits of Nakilat increased by 6.3 percent in 2022, to reach $0,38 billion
- Last week, Nakilat chose South Korea's HSD Engine to supply spare parts
Business
G42 is leading listings of tech companies on ADX: Presight chairman
Abu Dhabi, UAE - Mansour Ibrahim Al Mansouri, Mansour Ibrahim Al Mansouri, Chairman of the Board of Directors of Presight,...
- Al Mansouri said that Presight has a plan for regional and international expansion and the provision of solutions to customers in big data and artificial intelligence
- Group 42 (also known as G42) is an artificial intelligence and cloud computing company that was founded in Abu Dhabi, United Arab Emirates in 2018
Economy
UAE Central Bank projects 4.3% GDP growth in 2024
The bank cited the real estate and construction sectors as key drivers, as well as a dynamic manufacturing sector, like...
- As for inflation, the review projects it to decelerate to 3.2 percent in 2023, “on the back of softer price increases in all categories."
- Oil production is expected to moderate in line with the OPEC+ agreements but the non-oil sector is anticipated to continue to grow
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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
In stabilization bid, Syria’s new ruler declares all weapons under state control, including Kurdish arms
Ahmed al-Sharaa announced all weapons, including those held by Kurdish-led forces, will come under state control, emphasizing unity and coexistence...
Company News
PureHealth to list on ADX
Business
Latest News
Makkah region sees 600% surge in green spaces within 5 months
Jeddah, Saudi Arabia - There has been a 600% increase in green spaces in Makkah region from August to December...
UAE market cap soars as top 16 companies hit $734bn
Abu Dhabi, UAE - The aggregate market capitalization of the top 16 national companies listed on local exchanges stood at...
Economy
Saudi Arabia releases 132 animals in NEOM Nature Reserve
RIYADH, SAUDI ARABIA - The National Center for Wildlife, in collaboration with NEOM, has released a total of 132 animals...
Geostrategy
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Business
Yanbu industrial port receives first RORO vessel, carrying nearly 2,000 cars
Yanbu, Saudi Arabia - The King Fahad Industrial Port in Yanbu welcomed the arrival of the "Hoegh Sydney," marking the...
- The port's strategic location along the Red Sea coast, coupled with its infrastructure, has attracted global shipping lines
- It boasts high operational capabilities with wide approach channels accommodating larger vessels with berth depths up to 18 meters
Business
Dubai Duty Free achieves all-time record sales of over US$2.16bn in 2023
DUBAI, UAE - The New Year began on a high note for Dubai Duty Free with the announcement of an...
- December 2023 finished for Dubai Duty Free with record monthly sales of US$221 million, an 8.37 percent increase compared to 2022.
- It's 40th anniversary celebrations offered a 25 percent discount on December 20 which led to a shopping spree of $14.8 million in 24 hours.
Business
Weyay recognized as ‘Fastest Growing Digital Bank’ in Kuwait by Mastercard
Kuwait City - Weyay was recognized as 'Fastest Growing Digital Bank' in Kuwait by Mastercard on the sidelines of the...
- Since its inception as Kuwait’s first digital bank in 2021, Weyay has combined technology with a dynamic design for a seamless and comprehensive banking experience
- Weyay has played a major role in providing banking services to the youth and early career professionals, aligning seamlessly with their tech-centric lifestyles