Saudi Arabia, Gulf neighbours say Ramadan to start on Saturday
Observing fasting during Ramadan is one of the five pillars of Islam, requiring believers to abstain from eating, drinking, smoking...
Arts & Culture
Saudi Arabia says no Israel normalization without Palestinian state
Riyadh, Saudi Arabia - Saudi Arabia said Wednesday it will not formalize ties with Israel unless a Palestinian state is established,...
Geostrategy
Economy
Abu Dhabi sees 67% annual rise in number of AI company registrations
Abu Dhabi, UAE - The number of AI companies registered in Abu Dhabi grew at a compound annual rate of...
- The study highlights on Abu Dhabi’s ambitions to maximize the benefits of utilizing AI systems, applications, technologies, and solutions
- In recent year, Abu Dhabi Chamber has adopted innovation and digital transformations and implemented supportive policies
Economy
IMF predicts soft landing for global economy, yet growth remains muted
Dubai, UAE - The International Monetary Fund (IMF) in a report has indicated that the global economy is on course...
- A soft landing, described as an economic slowdown resulting from a central bank's cautious interest rate increases, aims to avoid a recession
- The IMF suggested that global economic growth could surpass expectations if disinflation progresses faster than anticipated, prompting earlier monetary policy easing
Business
Bitcoin surpasses $57,000 as crypto rally remains strong
Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market...
- The rise follows Bitcoin's climb above $54,000 on Monday, a milestone not reached since December 3, 2021
- The cryptocurrency has been experiencing a bullish trend since January 11, when the US Securities and Exchange Commission approved spot Bitcoin ETFs
Geostrategy
Zelenskyy in Saudi Arabia to discuss war; meets Mohammed bin Salman
RIYADH, SAUDI ARABIA - President of Ukraine Volodymyr Zelenskyy and his accompanying delegation arrived here on Tuesday.The Ukrainian President was...
- At the Royal Terminal in King Khalid International Airport, Zelenskyy was received by the Deputy Governor of Riyadh Region and other senior officials.
- The 10th Saudi relief plane operated by King Salman Humanitarian Aid and Relief Center (KSrelief) reached a Polish airport, close to the Ukrainian border.
Business
UAE announces US$2,722 penalty for late corporate tax registration
ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024...
- A penalty of US$2,722 (AED10,000) will be imposed on businesses that do not submit their Corporate Tax registration applications on time.
- The penalty was implemented to prompt taxpayer compliance with laws through timely corporate tax registration.
Business
AI entity is Board Observer in IHC
IHC is a pioneer in leveraging AI for decision-making.
- Aiden Insight is a virtual entity endowed with sophisticated AI capabilities, and is set to revolutionise the way IHC handles the global investment landscape.
- This initiative by IHC is powered by AI capabilities of G42 in collaboration with Microsoft, setting a new benchmark for artificial intelligence development.
Geostrategy
France says ‘nothing ruled out’ to thwart Russia in Ukraine
French Prime Minister Gabriel Attal told the RTL broadcaster that there was "no consensus" on any "official" deployment of ground...
- Speaking a day after President Emmanuel Macron said that sending Western ground troops was not excluded, prime minister Attal said that "you can't rule anything out in a war."
- Macron, after hosting a meeting of two dozen European leaders to discuss Ukraine, on Monday painted a grim picture of a Russia whose positions he said were "hardening."
Business
Middle East and Africa smartphone shipments surge 30% YoY in Q4 2023
Dubai, Riyadh - Smartphone shipments in the Middle East and Africa (MEA) region witnessed a remarkable surge, growing by 30%...
- For the entire year of 2023, smartphone shipments in the MEA region increased by 11% YoY, reflecting an upward trend in consumer sentiment
- The MEA region demonstrated the highest YoY growth globally during this period, attributed to improved economic conditions and rebounding consumer demand
Arts & Culture
Red Sea Global releases ‘Red Sea Waves,’ its first music album
Riyadh, Saudi Arabia - Red Sea Global (RSG), the developer behind The Red Sea and Amaala, the Saudi tourism destinations,...
- The album is the result of collaboration between Saudi, Egyptian, Sudanese, Somali, and other artists
- The album features 12 tracks, each of which is characterized by a different genre and origin
Business
EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn
ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and...
- EDB’s flexible financing solutions and patient debt approach have significantly bolstered industrial growth.
- EDB has approved $353 million in financing under the Credit Guarantee Scheme with partner banks in UAE.
Saudi Arabia, Gulf neighbours say Ramadan to start on Saturday
Observing fasting during Ramadan is one of the five pillars of Islam, requiring believers to abstain from eating, drinking, smoking...
Arts & Culture
Company News
Latest News
Saudi Arabia to host largest health event with global participation on Oct 21-23
Riyadh, Saudi Arabia – Saudi Arabia is preparing to host the seventh edition of the Global Health Forum under the...
Riyadh leads Saudi Arabia’s date production with record sales
Riyadh, Saudi Arabia - Riyadh is currently hosting the third Seasonal Dates Exhibition, a major economic, social, and tourist event....
Economy
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
Most Read
United by innovation and progress: The enduring US-UAE partnership
‘’In close partnership, we are working to advance multilateral diplomatic solutions and provide urgently needed humanitarian assistance in Gaza and...
- 'Our ongoing defense and counterterrorism cooperation makes our countries and the world more secure.'
- 'US and UAE troops have stood shoulder to shoulder in six conflicts over the last 30 years;'
Economy
Saudi Arabia achieves 73 percent increase in international tourist arrivals: UN report
The kingdom welcomed 17.5 million international tourists in the first seven months of 2024, leading G20 nations in tourism growth...
- According to the Saudi Press Agency (SPA), the Kingdom continued to top the list of G20 countries in the indicators of the growth rate of the number of international tourists
- The Kingdom's various tourist destinations have witnessed a significant rise in international tourist numbers this year, with the number of tourist arrivals reaching 17.5 million
Business
GACA report: Riyadh’s King Khalid Airport ranked best for 15M+ passengers
Riyadh, Saudi Arabia - King Khalid International Airport in Riyadh secured the top spot in the category of airports with...
- Airports are assessed based on 11 operational performance standards, which align with strategic objectives to enhance services and ensure a seamless traveller experience
- GACA categorizes airports for performance evaluation based on annual passenger numbers, ensuring a transparent approach