GCC countries host nine million Indians, UAE alone home to 3.55 million
New Delhi, UAE - The number of Indians living in the Gulf Cooperation Council (GCC) countries has crossed nine million,...
Economy
Chinese company to build Saudi Arabia’s first ocean park
Riyadh, Saudi Arabia - Haichang Ocean Park Holdings, China's largest ocean theme park operator, announced plans on Thursday to build...
Business
Business
Masdar inks pact with 4 Dutch firms for exporting green hydrogen from Abu Dhabi
ABU DHABI, UAE - Masdar signed an agreement with four Dutch companies to explore the development of a green hydrogen...
- Masdar, , one of the world’s leading clean energy companies, inked an agreement with Port of Amsterdam, SkyNRG, Evos Amsterdam and Zenith Energy.
- Green hydrogen is produced with green electricity from renewables like wind or solar, in a process that separates water into oxygen and hydrogen via electrolysis.
Business
Dubai emerging as a global hub for superyachts
Streamlined legislation, increased investment in infrastructure and hosting of international maritime events contribute towards growth of Dubai’s yachting industry.
- Streamlined legislation, increased investment in infrastructure and hosting of international maritime events contribute towards growth of Dubai’s yachting industry
- After Dubai’s participation recently at the Monaco Yacht Show, and the recent Gulf Superyacht Summit 2022 hosted in Dubai the future looks bright for Dubai’s yachting industry
Arts & Culture
Camel Club, ICO sign partnership to promote Saudi Camel Heritage
The Camel Club will be participating in all events organized by the ICO in the kingdom as a local and...
- The Camel Club will be participating in all events organized by the ICO in the kingdom as a local and international strategic partner
- The ICO will issue international certificates for participants at King Abdulaziz Camel Festival according to its accredited standards
Geostrategy
Qatar’s role in European energy security is vital: Dutch Foreign Minister
Hoekstra expressed his country's desire to continue working with Qatar on issues of common concern and to expand cooperation.
- Hoekstra expressed his country's desire to continue working with Qatar on issues of common concern and to expand cooperation
- He expressed his country's appreciation for the Qatar's mediation efforts undertaken in various regions, noting that the Netherlands and Qatar are partners in such efforts
Geostrategy
UAE, UK sign agreement to cooperate in the energy sector
ABU DHABI, UAE - UAE Ministry of Energy and Infrastructure signed a Memorandum of Understanding (MoU) with UK Department for...
- The agreement aims to exchange information, knowledge, expertise and studies in the field of energy
- The MoU aims to enhance strategic and technical cooperation in the energy sector, develop renewable energy technologies including regulatory frameworks and incentives.
Economy
UAE, Saudi Arabia provide Pakistan $4bn lifeline to tide over its economic woes
The UAE pledged to roll over $2 billion in debt due over the next two months, with an additional $1...
- The UAE agreed to roll over $2 billion in debt due over the next two months, with $1 billion more pledged during Prime Minister Shehbaz Sharif's visit
- The Saudi Fund for Development (SFD) signed an agreement in Islamabad to fund $1bn worth of oil imports on deferred payment
Business
Islamic banks’ assets reach $166bn by October 2022
According to the Apex Bank, Islamic banks' credit climbed by 5.7 percent year-on-year to $108 billion by the end of...
- According to the Apex Bank, the banks' credit climbed by 5.7 percent year-on-year to $108 billion by October 2022
- Deposits in the banks climbed by around 1 percent year-on-year from $115 billion in October 2021
Science
Global actions should not derail energy transition, says WEF
GENEVA, SWITZERLAND– The current energy crisis is driving inflation, slowing economic growth, creating social turmoil and the world should not...
- The WEF report said that steps such as increasing production of electricity from coal or broad-based consumption subsidies, risk derailing energy transition.
- The report proposes a framework for a secure energy system to guide countries and policy-makers.
Economy
Turkish exports to Africa exceed $21bn during 2022
Turkish Exporters' Assembly pointed out that Turkish exports to African countries during 2022 increased by 12.3 percent, compared to 2021.
- Turkish Exporters' Assembly pointed out that Turkish exports to African countries during 2022 increased by 12.3 percent, compared to 2021
- The assembly added that Turkey's exports value to European Union amounted to $93.6 billion, $32.8 billion to Middle East and $21.8 billion to Africa
Economy
Oil gains 3% on China demand hike, concerns about Russian supplies
Brent crude rose 50 cents, or 0.6%, to $83.17 per barrel by 0135 GMT, while US West Texas Intermediate crude...
- Brent crude rose 50 cents, or 0.6%, to $83.17 per barrel by 0135 GMT, while US West Texas Intermediate crude also rose 50 cents, or 0.7%, to $77.91 per barrel
- Previous oil prices witnessed a decline after the release of data revealing an unexpected increase in US crude and fuel inventories, which raised concerns about fuel demand
Most Read
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
GCC countries host nine million Indians, UAE alone home to 3.55 million
New Delhi, UAE - The number of Indians living in the Gulf Cooperation Council (GCC) countries has crossed nine million,...
Economy
Company News
Latest News
Chinese firm announces $5bn investment in solar power chain in UAE
Dubai, UAE - Trina Solar, a Chinese renewable energy company, announced on Thursday plans to invest US$5 billion to create...
Business
2 crew members killed as Saudi fighter jet crashes
An investigation into the cause of the recent accident has been initiated, with Maliki informing the Saudi Press Agency (SPA)...
Dubai Municipality, DEWA ink pact to generate electricity from landfill biogas
DUBAI, UAE - Dubai Municipality and Dubai Electricity and Water Authority (DEWA) have signed an agreement on the sides of...
Business
Most Read
Saudi Arabia announces e-visa feature for FIFA Club World Cup fans
Riyadh, Saudi Arabia - The Saudi Ministry of Foreign Affairs, in collaboration with the Ministry of Sports, has rolled out...
- Exclusively tailored for FIFA Club World Cup Saudi Arabia 2023 ticket holders, this electronic visa offering enables seamless entry into the Kingdom expressly for the event
- The feature supplements existing options available to citizens of diverse nations, allowing them to visit Saudi Arabia through electronic visit visas or upon arrival
Geostrategy
UK defence minister to visit Middle East to discuss ways to boost Gaza aid
Shapps will also visit Kibbutz Kfar Aza in southern Israel which was attacked by Hamas on October 7 which killed...
- Shapps will also discuss how the UK can support the Palestinian Authority, the recovery of hostages, as well as efforts to prevent further escalation in the Middle East
- Earlier this week Shapps said Britain was considering sending military support vessel RFA Lyme Bay to provide medical and humanitarian aid in the Middle East
Economy
Saudi Arabia offers 30-year tax cut to businesses shifting hqrs to kingdom
Riyadh, Saudi Arabia - Saudi Arabia has rolled out a 30-year tax relief program aiming to lure multinational corporations to...
- Under the Regional Headquarters (RHQ) Program, participating companies will benefit from substantial tax incentives, including a zero percent rate on corporate income tax
- The RHQ Program, launched initially in 2021, has already licensed over 200 companies to operate their regional headquarters from Saudi Arabia