Domestic worker visa applications in UAE up 66% in June 2024, says a report
The UAE, relying on domestic workers (5% of the population), invests $3 billion annually, highlighting the rising demand for domestic...
Economy
Saudi Arabia reforms investment law, simplifies process and investor protection to achieve $100 bn FDI target
The law will ensure equal treatment between domestic and foreign investors, protecting intellectual property and promoting fair competition in line...
Economy
Business
Saudi media ministry and Google join forces for digital transformation
Riyadh, Saudi Arabia - Saudi Ministry of Media and Google have joined forces in a strategic collaboration aimed at driving...
- The collaborative effort intends to introduce specialized programs to enhance the skills of local media professionals, journalists, and content creators
- The partnership seeks to share global best practices in the media sector, with a particular emphasis on leveraging artificial intelligence tools, especially within newsrooms
Geostrategy
Saudi foreign minister seeks G20 action on Gaza
Rio de Janeiro, Brazil - Saudi Foreign Minister Prince Faisal bin Farhan called on G20 nations to apply pressure for...
- Prince Faisal voiced these sentiments during the inaugural session of the G20 Foreign Ministers' Meeting in Rio de Janeiro, Brazil
- The Saudi minister underlined the imperative for international institutions to uphold their commitments globally and adopt clearer stances
Economy
Saudi Arabia’s trade surplus remains stable at $26bn
Riyadh, Saudi Arabia - Saudi Arabia's trade surplus remained stable at SR97 billion ($25.8 billion) in the fourth quarter of...
- The report indicates a 14.4 percent decline in merchandise exports during the fourth quarter compared to the same period in 2022
- Non-oil exports experienced a 1.2 percent decrease, with the chemical industry products, constituting a third of non-oil exports, witnessing an 18 percent decline
Business
Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023
DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...
- The total number of F&B companies registered with Dubai Chamber of Commerce stood at 22,585 at the end of 2023.
- Dubai Chamber of Commerce launched 11 business groups dedicated to the industry, eight of which were set up in 2023.
MENA print media revenues fell 30% from 2018 to 2022: survey
The report stresses the urgent need for MENA news organizations to overhaul business models, adopt digital strategies, and diversify content...
- The analysis also forecasts a compound annual growth rate (CAGR) of -4% up to 2027, which could cause total MENA revenues to fall even further to US$1.2 billion
- The figures also show that while digital advertising revenues are slowly increasing at a rate of 1% per year, print advertising revenues are set to slump by 11.3% by 2027
Business
Saudi tech firm Alat to ally with Softbank, Carrier Corp, Tahakoum, Dahua Tech
Riyadh, Saudi Arabia - Alat Company, a subsidiary of the Saudi Public Investment Fund (PIF), has announced four global partnerships...
- Amit Midha, global CEO of Alat, said the goal is to aid partner companies in reducing emissions and transitioning towards carbon-neutral production
- Midha emphasized Alat's commitment to leveraging clean energy sources such as solar, wind, and green hydrogen integrating sustainability measures across operations
Arts & Culture
Saudi film industry gets boost with $100m investment fund
Riyadh, Saudi Arabia -The Middle East Financial Investment Company (MEFIC Capital) has unveiled the establishment of the Saudi Film Fund,...
- The strategic fund is an outcome of an agreement involving the Cultural Development Fund, MEFIC Capital, and Roaa Media Ventures
- The Saudi film production market has experienced impressive growth, boasting an annual growth rate exceeding 25%
Saudi retail is 23% of non-oil GDP, expected to grow to $122.6bn in 2024
Riyadh, Saudi Arabia - Saudi Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail said on Monday that the...
- Saudi Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail emphasized the crucial role of the retail sector as a major economic driver
- He expressed optimism that discussions at the summit would contribute to the sector's development and overall service enhancement
Domestic Haj pilgrims in Saudi Arabia guaranteed compensation for lodging issues
Riyadh, Saudi Arabia - Saudi Arabia has announced that domestic pilgrims will be eligible for compensation in the event of...
- According to the Ministry of Hajj and Umrah, pilgrims will receive a 10 percent refund of their package value if there is a delay of more than two hours in obtaining accommodation
- In cases where the service provider fails to deliver the promised accommodation, the ministry will oversee housing arrangements, and the associated costs
Saudi stock market hits 12,500 points, highest since August 2020
Riyadh, Saudi Arabia - The Saudi Stock Market's general index (TASI) surged past the 12,500-point milestone on Sunday, reaching its...
- The increase can be attributed to the positive momentum generated by the disclosure of financial results, the majority of which met anticipated outcomes
- The gains in the Agriculture & Food, Building & Construction and Hotels & Tourism sectors also led shares higher
Domestic worker visa applications in UAE up 66% in June 2024, says a report
The UAE, relying on domestic workers (5% of the population), invests $3 billion annually, highlighting the rising demand for domestic...
Economy
Company News
Latest News
UAE suspends coordination of humanitarian aid with Israel
Dubai, UAE - The United Arab Emirates (UAE) has decided to halt its coordination of humanitarian aid with Israel following...
Geostrategy
Saudi Arabia offers 50% discount on accumulated traffic fines before April 18
Riyadh, Saudi Arabia - The Saudi Ministry of Interior has announced a significant measure aimed at reducing the burden of...
Economy
ahli islamic introduces Sharia-compliant Money Market Fund
MUSCAT, OMAN – As part of its investment solutions and Sharia-compliant products and services, ahli islamic, ahlibank’s Islamic banking window,...
Business
Most Read
Rising threat: DDoS attacks demand proactive defense
"Threat actors can employ artificial intelligence (AI) and machine learning (ML) algorithms to identify vulnerabilities and adapt their tactics in...
- DDoS attacks have evolved from simple nuisances to highly sophisticated and coordinated assaults, posing a significant threat to online businesses
- Today's attackers use various techniques, including amplification attacks, which exploit internet protocol vulnerabilities to multiply attack traffic, making mitigation challenging
Business
EasyLease buys stake in United Trans
This helps EasyLease expand its presence in mobility sector.
- United Trans has been at the forefront of transforming the regional transport spectrum.
- The company collaborates with major global organizations across all modes of transport.
Business
flynas receives 50th jetliner out of 120 Airbus A320neo ordered
RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the...
- The deal with Airbus was a strategic step for flynas, consolidating its position as a leading low-cost airline in the Middle East.
- The company is moving forward in its plan to double the fleet size after getting approval to purchase 250 aircraft.