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...
UAE backs Egypt’s Ras El Hekma megaproject, aims for $110 billion investment
Abu Dhabi, UAE - The UAE Ministry of Investment (MoI) announced today its support and key role in the advancement...
Business
Geostrategy
UAE highlights food, energy insecurity at G20 Finance Track meeting
CHENNAI, INDIA - The UAE spoke on food and energy insecurity and their implications in the second Framework Working Group...
- The UAE delegation highlighted emerging uncertainties in the finance sector.
- The delegation discussed effective ways to promote global financial stability.
Saudi Arabia’s Women’s National Team enters FIFA World Ranking
The national team, commonly known as the ‘Green Falcons’, are currently led by Finish Head Coach Rosa Lappi-Seppälä, who took...
- Historic moment forms part of the country’s massive investment in the women’s game in recent years
- The Women’s Football Department of the Saudi Arabian Football Federation was established in 2019
Business
Demand for green goods grows amid global trade slow down in H2 2022: UNCTAD
The market for electric cars, solar and wind energy, green hydrogen is expected to quadruple in value by 2030 to...
- Trade in green goods grew by four percent in the second half of 2022, reaching a record $1.9 trillion in 2022
- The market for electric cars, solar and wind energy, green hydrogen is expected to quadruple by 2030 to reach $2.1 trillion
Economy
E-invoicing: Saudi Arabia stipulates criteria for selecting establishments
Riyadh, Saudi Arabia - Saudi Zakat, Tax and Customs Authority (ZATCA) has identified the criteria for selecting the establishments targeted...
- The authority said it would inform the selected establishments six months before the enrollment date
- Implementation of the first phase of the e-invoicing system began on December 4, 2021
Business
ENOC Group unveils five-pillar growth strategy
Dubai, UAE - ENOC Group on Thursday unveiled its five-pillar long-term growth strategy after having recorded its best performance ever...
- The group recorded a 60 percent increase in EBITDA last year in comparison to 2021
- Its Strata marine lubricants arm recorded a 350% sales growth in the last two years
KIPCO’s 2022 profit soars 44%
Earnings per share went up 15% to $2.3 cents.
- Earnings per share were up 15 percent from US$ 2 cents to US$ 2.3 cents
- Shareholder equity increased 81 percent from US$ 1.1 billion to US$ 1.9 billion
Business
MBRSC, e& enterprise ink MoU
MoU will be mutually beneficial to both organizations.
- The MoU will enable e& enterprise to leverage MBRSC's expertise in AI.
- MBRSC will benefit from e& enterprise’s resources and capabilities.
Business
Trade between Qatar and Russia reached $143m in 2022: Qatar Chamber
Doha, Qatar - The volume of trade exchange between Qatar and Russia reached QR 566 million ($143 million) in 2022,...
- Qatar is one of the largest foreign investors in Russia from the GCC region, Qatar Chamber board member Eng. Ali Abdullatif Al Misnad said
- The Qatari and Russian entities signed more than 60 MoUs and agreements on investment and trade, sports, tourism and education
Business
Gold jumps as US Fed signals rate-hike pause imminent
Dubai, UAE -- Gold prices climbed on Wednesday after the US Fed toned down its aggressive approach to reining in...
- Spot gold was up 1.7 percent at $1,973.52 per ounce by 3:56 p.m. EDT (1956 GMT), after advancing as much as 2 percent
- The lingering credit concerns are expected to support gold prices in the near term, making it safe haven amid global woes
Economy
Gulf central banks mirror Fed to raise rates by 25 bps
The central banks of Saudi Arabia, Bahrain and Qatar raised their benchmark borrowing rates after the US Federal Reserve raised...
- The Saudi Central Bank, also known as SAMA, raised its repo and reverse repo rates by 25 bps each to 5.5 percent and 5 percent, respectively
- The Central Bank of the United Arab Emirates (CBUAE) will raise its base interest rate by 25 basis points to 4.9%, effective Thursday
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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-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...
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UAE participates in UN Peacekeeping Ministerial Meeting in Ghana
ACCRA, GHANA - A United Arab Emirates delegation led by Dr. Rashed Ali Al Kaabi, Assistant Minister of Foreign Affairs...
Geostrategy
Situation in Red Sea is direct projection of developments in Gaza: Russian diplomat
"I think that hardly anyone of our counterparts will deny the fact that developments in the Red Sea are the...
Geostrategy
King Abdulaziz International Airport serves 42.7m passengers in 2023, a 36% growth
Jeddah, Saudi Arabia — King Abdulaziz International Airport served over 42.7 million passengers in 2023, reflecting a remarkable growth rate...
Business
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Business
Noatum buys APM Terminals Castellón
Noatum Terminals is the terminals ops business of Noatum Group.
- The agreement, which was reached with APM Terminals, has obtained all regulatory and stakeholder approvals and the change of ownership will happen immediately
- In parallel, a long-term agreement with the stevedoring union has been achieved which will assure stability and high productivity in the coming years
Economy
Saudi Arabia set to open its first financial center
Riyadh, Saudi Arabia - Saudi Arabia is poised to launch its inaugural financial center, with unified and standardized policies and...
- Chairman of the Steering Committee at the Ministry of Finance, Abdul Aziz Al-Furaih highlighted the advantages of transitioning to accrual-based accounting
- Hamad Al-Kanhal, Deputy Minister of Finance for Financial Affairs and Accounts, underlined the shift to accrual-based accounting as part of Vision 2030
Geostrategy
Illegal Israeli settlers block Palestinian farmers from farming lands
Tubas, Palestine - Colonial Israeli settlers backed by the Israeli military prevented Palestinian farmers from plowing their lands today in...
- Eyewitnesses and local activist Ayman Ghrayeb revealed that a group of settlers hindered several farmers from cultivating their fields in the vicinity of the village.
- He added that the soldiers accompanying the settlers confiscated personal identification cards from the farmers and detained them for several hours.