Leftist Mamdani takes over as New York mayor under Trump shadow
Zohran Mamdani, the young upstart of the US left, was sworn in Thursday to take over as New York mayor...
Geostrategy
AI needs to be smaller, reduce energy footprint: UNESCO study
Paris, France -- The potential of artificial intelligence is immense -- but its equally vast energy consumption needs curbing, with...
Geostrategy
Business
Rotana announces the soft opening of Dar Rayhaan in Saudi Arabia
Abu Dhabi, UAE – Rotana, one of the leading hotel management companies in the region with over 100 properties in...
- This is in line with Rotana’s ambitious goal of launching eight properties in Saudi Arabia.
- Dar Rayhaan by Rotana offers 133 keys, including 113 rooms and 20 suites,
Business
Global football stars choose Red Sea destination for holiday
TABUK, SAUDI ARABIA – A few days ago, the Red Sea destination hosted several international football stars from Saudi Pro...
- Among the football stars were Cristiano Ronaldo, Fabinho Tavares, Roger Ibanez and Roberto Firmino.
- They also engaged in various water sports and marine activities, making the most of their time.
Economy
Saudi tourism hits record $36 billion inbound spending in 2023
Riyadh, Saudi Arabia - Saudi Arabia's tourism sector contributed to a record-breaking $36 (SR135 billion) in spending by international visitors....
- The Kingdom's remarkable performance in tourism was further highlighted by its leading position in the United Nations Tourism rankings for growth in international tourist arrivals
- The UN's tourism report also noted a substantial rise in both inbound and domestic tourism within the Kingdom, reinforcing its reputation as a premier global tourism destination
Business
Digital transformation fuels GCC banks’ growth
The banking sector across the GCC has demonstrated formidable growth and profitability, with Qatar leading in several key performance indicators,...
- Notably, Qatar National Bank (QNB), the titan among GCC banks in terms of assets, received an uplift in its long-term credit rating from A to A+.
- The region has also seen a notable increase in profitability, with a significant double-digit rise of 23.1 percent, driven largely by growth in loan books.
Business
Sheikh Hamdan praises ADNOC’s efforts in using AI in production process
ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...
- Sheikh Hamdan toured key facilities and operations, learning about the company's efforts to leverage AI.
- Sheikh Hamdan emphasized on the importance of Emirati women's participation across various sectors.
Arts & Culture
Restoration project for Jeddah district’s old buildings completed
JEDDAH, SAUDI ARABIA – The Ministry of Culture, represented by the Jeddah Historic District Program, has announced the completion of...
- The project comes within the context of the Crown Prince's keenness to preserve and rehabilitate historical sites.
- The project aimed to highlight the heritage landmarks that Jeddah District is abundant in as a site containing over 600 heritage buildings.
Business
Abu Dhabi Chamber sets up working group to support startups, SMEs
ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...
- This initiative aims to support and represent the interests of startups and SMEs in the region.
- The goal is to make Abu Dhabi the top choice for business in the Middle East and North Africa by 2025.
Business
TAQA, JERA sign pact with SATORP to develop plant in Saudi Arabia
ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...
- They will develop a greenfield industrial steam and electricity cogeneration plant for Amiral petrochemical complex.
- The Amiral petrochemical complex is expected to house one of the largest mixed-load steam crackers in the Arab Gulf region.
Economy
Rise in remittances hikes demand for Jordanian dinar, says chamber of commerce
AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar. Exchange...
- There are positive indicators suggesting a stabilization in Jordan’s economy.
- Presently the currency exchange sector comprises 250 firms across Jordan.
Business
Saudi Arabia weighs handing state airline Saudia over to PIF
Riyadh, Saudi Arabia - Saudi Arabia is considering transferring ownership of its national carrier, Saudia, to the sovereign wealth fund,...
- Bloomberg initially reported the discussions regarding PIF's potential acquisition of Saudia
- Currently, PIF already holds ownership of Riyadh Air, the kingdom's upcoming airline
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
Leftist Mamdani takes over as New York mayor under Trump shadow
Zohran Mamdani, the young upstart of the US left, was sworn in Thursday to take over as New York mayor...
Geostrategy
Company News
Latest News
Trump to close deal-making Gulf tour in UAE, announces big Boeing order for Qatar Airways
US President Donald Trump on Thursday closes a Middle East tour in the United Arab Emirates as he focuses squarely...
Geostrategy
Experts seek to legitimize AI mental health care
Researchers at Dartmouth College believe artificial intelligence can deliver reliable psychotherapy, distinguishing their work from the unproven and sometimes dubious...
Science
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Business
Trump’s solar tariffs could drive Asia transition boom
Bangkok, Thailand -- Massive planned US duties on solar panels made in Southeast Asia could be a chance for the...
- Earlier this month, Washington announced plans for hefty duties on solar panels made in Cambodia, Vietnam, Thailand and Malaysia.
- Southeast Asia accounted for nearly 80 percent of US solar panel imports in 2024.
Geostrategy
UAE says citizens can again travel to Lebanon
The announcement comes after Lebanon's President Joseph Aoun met with his UAE counterpart Mohamed bin Zayed in Abu Dhabi on...
- UAE imposed the travel ban and withdrew diplomats from Beirut in solidarity with Saudi Arabia, after a Lebanese minister criticized the Riyadh-led military intervention in Yemen.
- Lebanese citizens were not banned from travelling to the UAE, although some experienced difficulties obtaining visas.
Business
Luberef net profit falls 7% in Q1
A fall in by-products sales leads to profit dip.
- This is in addition to a decrease in by-products crack margins, despite an increase in base oil crack margins.
- Total shareholders’ equity, no minority interest, stood at SAR 4.07 billion as of March 31, 2025.