Dubai’s GDP tops $31.3 bn in Q1 2024, growing 3.2%
The financial and insurance sector saw a 5.6% rise, reaching USD 4.1 billion (AED 15.1 billion), supported by significant growth...
Oregon leverages coastal adventures and diverse landscapes to expand its tourism market
Oregon's tourism strategy focuses on year-round visitation, sustainability, and regenerative travel, aiming to optimize economic impact while preserving natural beauty...
Economy
Business
25 pacts, MoUs inked on 1st day of Saudi Future Minerals Forum
The signing ceremony also witnessed the handing over of the two exploration licenses for Khnaiguiyah and Umm Al-Damar sites to...
- The signing ceremony also witnessed the handing over of the two exploration licenses for Khnaiguiyah and Umm Al-Damar sites to the companies that won their licenses
- The agreements included the areas of mineral exploration, technology, communications and application of sustainability standards
Business
84.6% growth in travel for Middle Eastern airlines in Nov: IATA
Globally, traffic is now at 75.3% of November 2019 levels, according to the report.
- Globally, traffic is now at 75.3% of November 2019 levels, according to the report
- Total traffic in November 2022 rose 41.3% compared to November 2021
Economy
Saudi WEF delegation to highlight progress under Vision 2030
It aims to enhance global cooperation and design joint solutions to today’s geopolitical, social, economic, and human development challenges. Saudi’s...
- Prince Faisal bin Farhan Al Saud, Minister of Foreign Affairs of the Kingdom will head the Saudi delegation.
- During their participation at WEF23, the delegation will outline progress achieved under Saudi Vision 2030.
Economy
China’s new yuan loans rise in 2022
In December alone, new yuan loans stood at 1.4 trillion yuan, up 266.5 billion yuan year-on-year, according to the People's...
- In December alone, new yuan loans stood at 1.4 trillion yuan, up 266.5 billion yuan year-on-year, according to the People's Bank of China (PBOC)
- The M2 growth was 0.6 percentage points lower than that at the end of November but was 2.8 percentage points higher than the same period the year before
Business
Oil slips after unexpected build in US crude and fuel inventories
US West Texas Intermediate (WTI) crude futures fell 59 cents, or 0.8 percent, to $74.53 a barrel, while Brent crude...
- US West Texas Intermediate (WTI) crude futures fell 59 cents, or 0.8 percent, to $74.53 a barrel, while Brent crude futures were down 62 cents, or 0.8 percent, at $79.48 a barrel
- US crude stocks jumped by 14.9 million barrels in the week ended Jan. 6, sources said, citing data from the American Petroleum Institute (API)
Business
Foreign assets up 0.41% to $116bn in October 2022
The latest statistics of the Central Bank attributed the monthly increase in foreign assets to the rise in bank balances...
- The latest statistics of the Central Bank attributed the monthly increase in foreign assets to the rise in bank balances with banks abroad by 2.2 percent
- Central Bank statistics indicated that other foreign assets reached AED58.12 billion at the end of last October, a decrease on a monthly basis of 8.3 percent
Business
Airbus tops Boeing in 2022 plane orders
Airbus sold 661 planes as against Boeing's 480.
- In terms of deliveries, Airbus finished the year having 661 planes arrive with clients, much higher than Boeing's 480
- Both companies have been forced to reset expectations about their capacity to build planes as quickly as the industry would like
Economy
Saudi Arabia’s industrial production rose 8.6% in November 2022, says GASTAT
RIYADH, SAUDI ARABIA - The General Authority for Statistics (GASTAT) published Tuesday on its official website the results of the...
- In November 2022, mining and quarrying grew by 5.7 percent compared to November 2021.
- Manufacturing activity increased by 19.7 percent compared to the same month of the previous year.
Business
Masdar inks deal to produce 1GW of clean energy in Kyrgyzstan
ABU DHABI, UAE - Masdar has announced the signing of an agreement with the Ministry of Energy of Kyrgyz Republic...
- The projects, with a total capacity of up to 1 gigawatt (GW), start with a 200-megawatt (MW) solar photovoltaic (PV) plant.
- The 200 MW plant is scheduled to begin operation by 2026.
Economy
Abu Dhabi Chamber enhances digital Effortless Certificate of Origin service
ABU DHABI, UAE - Abu Dhabi Chamber of Commerce and Industry (ADCCI) has launched the updated version of its Effortless...
- The Abu Dhabi Program for Effortless Customer Experience supports Abu Dhabi’s human-centric approach.
- It enables everyone living and working in the emirate and visitors to carry out tasks quickly, seamlessly and effortlessly.
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
Dubai’s GDP tops $31.3 bn in Q1 2024, growing 3.2%
The financial and insurance sector saw a 5.6% rise, reaching USD 4.1 billion (AED 15.1 billion), supported by significant growth...
Company News
Latest News
99 percent of world live in areas with air pollution levels above WHO guideline limits
DUBAI, UAE - According to World Health Organization data, 99 percent of the world’s population lives in places where air...
Business
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...
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...
Geostrategy
Most Read
Business
Air cargo demand up 3.8% in October
Geneva, Switzerland - Global air cargo demand increased by 3.8% compared to October 2022, the International Air Transport Association (IATA)...
- Capacity was up 13.1% compared to October 2022 and 11.1% for international operations
- International belly capacity, for example, rose 30.5% year-on-year on the strength of passenger markets
Geostrategy
Blinken, Wang discuss Gaza war in phone call
Beijing, China - The US Secretary of State Antony Blinken and China's Foreign Minister Wang Yi on Wednesday spoke over the...
- Blinken discussed his recent travel in the Middle East and US diplomatic efforts in the region with Wang
- He also underscored that the recent Houthi attacks against commercial vessels in the Red Sea
COP28 UAE
Saudi Electricity Company targets net zero emissions by 2050
Dubai, UAE - The Saudi Electricity Company (SEC), the largest producer, transmitter, and distributor of electrical energy in the Middle...
- The announcement was made during a special event SEC organized on the sidelines of the United Nations COP28 climate-change summit in Dubai
- The SEC said it has signed seven agreements with leading local and international companies, including LUCI, Al-Fanar, Sal Italy, CHINT Saudi Arabia, Siemens, etc