Qatar outpaces Saudi Arabia and UAE in tourism growth with 147% surge
Doha, Qatar - Qatar has emerged as the leading player in the Middle East tourism sector, boasting an impressive 147%...
Economy
Residential, hospitality sectors drive Saudi Arabia’s real estate market in H1 2024
The Kingdom’s tourism and entertainment investments, including a new star rating system, support growth in hospitality, positioning Saudi Arabia as...
Economy
Business
SAIF Zone Al Ansari Exchange ink pact, offer new payment service
SHARJAH, UAE - The Sharjah Airport International Free Zone (SAIF Zone) has signed a cooperation agreement with Al Ansari Exchange,...
- The pact will allow SAIF Zone’s investors and clients to pay fees at any of Al Ansari Exchange's over 230 branches across the UAE.
- The signing ceremony was attended by a number of managers and senior officials from both sides.
Science
Nations closer to global guidelines on disease outbreaks, says WHO
NEW YORK, US - Governments agreed on a way forward to update disease outbreak regulations ahead of meetings to draft...
- A total of 307 amendments to the WHO International Health Regulations came in response to challenges posed by the COVID-19 pandemic.
- Governments had focused on making their countries, and the international community, better prepared for future emergencies.
Geostrategy
UAE takes part in first G20 Finance Ministers meeting in 2023
ABU DHABI, UAE - Minister of State for Financial Affairs Mohamed Hadi Al Hussaini headed the UAE delegation participating in...
- Held for the first time under the Indian presidency in Bengaluru, the meeting discussed the progress under the G20 priorities for 2023.
- The UAE team reiterated the importance of a globally coordinated multilateral action to promote climate finance.
Science
Boosting investment in health systems is essential, says OECD
PARIS, FRANCE - Governments should urgently adapt their health systems to better respond to future shocks, given the huge impact...
- Major investment is needed in the health workforce, alongside increased spending on prevention and digital infrastructure, says OECD
- More workers in health and social care were associated with lower mortality rates.
Business
Nissan integrates machine learning into its vehicles
A set of protective features employs the most innovative computing in the spatial awareness field to provide drivers with the...
- A set of protective features employs the most innovative computing in the spatial awareness field to provide drivers with the opportunity to safeguard their experience
- A combination of cameras, radars, and sonar technologies ensures car operators remain vigilant throughout the drive and assist swiftly as soon as danger is detected
Economy
Turkey starts rebuilding for the 1.5 million earthquake homeless
More than 160,000 buildings containing 520,000 apartments collapsed or were severely damaged in the February 6 earthquakes.
- More than 160,000 buildings containing 520,000 apartments collapsed or were severely damaged in the February 6 earthquakes
- Turkish President Tayyip Erdogan who is facing election within months has pledged to rebuild homes within a year
Business
Expo Center Sharjah wraps up successful Paper One Show
SHARJAH, UAE - Expo Center Sharjah (ECS) wrapped up the eighth edition of Paper One Show on a high note....
- The exhibition managed to cement Sharjah's leading position as one of the key regional events specialized in the paper industry.
- There was an increase of 60 percent in the exhibition over the previous edition in the number of participating companies.
Geostrategy
UAE, Algerian ministers discuss enhancing bilateral cooperation
ABU DHABI, UAE - UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan and Algerian...
- UAE, Algerian ministers reviewed ways to advance cooperation in areas that contribute to sustainable economic growth.
- The two ministers discussed UAE's hosting of the 28th session of the Conference of the Parties (COP 28) this year.
Economy
Qatar’s 2022 budget surplus grows 5462%
The surplus for Q4 2022 was 3.18 billion, compared to a deficit of $0.90 billion in the same quarter of...
- The surplus for Q4 2022 was 3.18 billion, compared to a deficit of $0.90 billion in the same quarter of 2021
- Total revenues for the quarter came in at$18 billion, compared to $14 billion in the same period last year
Business
Bayanat, Yahsat partner to develop space programme for earth observation capabilities
The MoU brings together Bayanat’s expertise in remote sensing capabilities and data analytics, and Yahsat’s proven capabilities spanning satellite space...
- The MoU brings together Bayanat’s expertise in remote sensing capabilities and data analytics, and Yahsat’s proven capabilities spanning satellite space technology
- The strategic partnership was announced at IDEX 2023 and is aimed at establishing and operating strategic earth observation partnership within the UAE
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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 outpaces Saudi Arabia and UAE in tourism growth with 147% surge
Doha, Qatar - Qatar has emerged as the leading player in the Middle East tourism sector, boasting an impressive 147%...
Economy
Company News
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Fertiglobe Q3 revenue of $525m
Business
India’s L&T secures EPC contract for Saudi Arabia’s Amaala project
New Delhi, India - Larsen & Toubro (L&T) secured a major Engineering, Procurement, and Construction (EPC) contract for the Amaala...
Business
Dubai real estate sales near record $109bn in 2023
Dubai, UAE - Dubai real estate annual sales comprising 127,000 deals have exceeded Dhs400 billion ($109 billion) during the current year...
Economy
Oman year-on-year growth rate touches 15.4 percent
Muscat, Oman - Oman's achieved a 15.4% year-on-year sector growth, as reported by the National Center for Statistics and Information...
Economy
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Business
GIB, KSA wrap up Sukuk debut
Gulf International Bank is a merchant bank in the Middle East
- The bank’s Sukuk programme is aligned with its strategic objectives to facilitate balance sheet growth and contribute to the realization of the national economic objectives
- GIB Capital’s CEO Osamah Shaker said that the bank is delighted to act as the sole arranger for the establishment of the Sukuk Programme and the Bank’s debut issuance
Business
KPMG’s global revenue touches $36bn
The company has outlined a collective investment of $4.2b.
- The announcement came in after KPMG International declared the annual globally aggregated revenues for KPMG firms of US$36b for FY23
- The financial figures highlight robust year-on-year growth of the company, reinforced by a multi-disciplinary approach
Geostrategy
Russia extends ban on entry of trucks from EU, UK, Norway, Ukraine
MOSCOW, RUSSIA - The Russian government has extended the ban on the entry of trucks from the European Union, the...
- “The restriction will remain in effect until the circumstances that served as the basis for its introduction are eliminated,” the Russian Cabinet said.
- The ban was introduced in 2022 as a response to the EU’s decision not to allow trucks with Russian and Belarusian license plates through.