Qatar PM sees ‘momentum’ on Gaza talks after US election
Doha, Qatar - Qatar's prime minister said on Saturday that momentum had returned to talks aimed at securing a truce and...
Geostrategy
Riyadh Season 2024 signs sponsorship agreements with local, global partners
Riyadh, Saudi Arabia-- A signing ceremony for Riyadh Season 2024 sponsorships was held on Thursday at Via Riyadh. General Entertainment...
Business
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
Business
DFM approves cash dividend
The company posted an increase of 41.7% in profit.
- The new fixed dividend policy stipulates that the company annually pays a minimum of 50% of its distributable net profit
- The company also approved the appointment of the Fatwa and Sharia’ Supervisory Board members for the year 2023
Economy
First India-GCC senior officials meeting held in Riyadh
New Delhi, India - The first ever meeting of senior officials of India and the Gulf Cooperation Council (GCC) was...
- India has been steadily stepping up institutional engagement of the GCC in addition to regular bilateral meetings with its member countries
- As a trade bloc, the GCC is the largest trade partner of India with a total trade of US$154 billion during the last financial year
Geostrategy
Jordan king discusses modernization efforts in meeting with EU envoys
Amman, Jordan - Jordan king Abdullah on Monday discussed his country's modernization efforts in a meeting with a number of...
- The meeting covered Jordan's modernization efforts, with the king reaffirming the Kingdom’s seriousness about political and economic reforms
- Discussions also covered the latest developments in the Syrian crisis and the need to step up international efforts to reach a political solution
Geostrategy
Iran proposes three locations to Saudi Arabia for foreign ministers’ meeting
Dubai, UAE - Saudi Arabia and Iran are taking more steps to consolidate their ties following the rapprochement between them...
- Iranian President Ebrahim Raisi has already "welcomed" invitation from Saudi Arabia's King Salman to visit the kingdom following the reconciliation deal between the two countries
- Iranian foreign minister also said that his country hoped steps would be taken to normalize its ties with Bahrain, a Saudi ally that had also severed ties with Iran in 2016
Economy
Two Indian companies investing $45m in Bahrain
Manama, Bahrain: Aerolam Middle East and Titan Company are set to launch their operations in Bahrain with a total investment...
- Titan is gearing up to launch Tanishq in Bahrain, backed by a franchise partner from India, with a total expected investment of approximately $30 million
- The volume of trade between the two countries with a focus on financial services and logistics has increased by 30 percent since 2018, reaching $1.4 billion in 2022
Geostrategy
UAE, Serbia discuss cooperation in R&D, innovation
BELGRADE, SERBIA - UAE Minister of State for Public Education and Advanced Technology Sarah Al Amiri discussed cooperation in research...
- The UAE minister discussed ways to enhance cooperation between the two nations in her visit to Serbia.
- She also discussed ways and means to strengthen the education system and vocational schools.
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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
Qatar PM sees ‘momentum’ on Gaza talks after US election
Doha, Qatar - Qatar's prime minister said on Saturday that momentum had returned to talks aimed at securing a truce and...
Geostrategy
Company News
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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...
Business
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
Most Read
ROSHN recognized as best place to work in Saudi Arabia for 2023
Riyadh, Saudi Arabia -- ROSHN Group has been recently recognized as "The Best Place to Work in Saudi Arabia" for...
- ROSHN achieved its ranking based on anonymous surveys conducted by the Best Places to Work group
- ROSHN Group was certified by the organization in 2021, 2022 and 2023, securing the top position in 2022 and 2023
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