46,223 structures destroyed, 18,478 severely damaged in Gaza: UNOSAT
Geneva, Switzerland - The United Nations Satellite Centre (UNOSAT) has identified 46,223 destroyed structures, 18,478 severely damaged structures, 55,954 moderately...
Geostrategy
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...
Economy
44% of Saudis are young, making up 78% of the labor pool
Riyadh, Saudi Arabia - Saudi Arabia on Monday launched "Youth Development Strategy" to help its youth to play a critical...
- Saudi Arabia on Monday launched "Youth Development Strategy" to help its youth to play a critical role in the national economy
- Aligned with the Saudi Vision 2030, the strategy seeks to create an enabling environment for the progress and growth of young people
Geostrategy
Two million people may die in Gaza without world’s help: Turkish foreign minister
Ankara, Turkey - Turkish Foreign Minister Hakan Fidan on Monday expressed serious apprehensions about the escalating situation in the Gaza...
- Hakan Fidan described the current events as "a tragedy on another scale" and emphasized the need for prompt preventive measures
- If people in Gaza also begin to die of hunger and disease, it will become a great moral burden that the world will not be able to bear, he said
Arts & Culture
Saudi Journalists Association poll: Women, visionaries lead the way
Nearly half of the newly elected board members were women, a first in the 21-year history of this prominent media...
- Faisal J. Abbas, Editor-in-Chief of Arab News, elected as Deputy Chairman.
- Six women, including Noor Nugali and Thekra Al-Atyawi, achieve board positions.
Economy
Royal Commission for AlUla chief held for abuse of power, money laundering: report
Riyadh, Saudi Arabia - The CEO of the Royal Commission for AlUla, Eng. Amr Al-Madani, has been arrested on charges...
- The Oversight and Anti-Corruption Authority (Nazaha) reported the arrest, stating that Eng. Amr Al-Madani's partners in a company were also apprehended
- Despite formally leaving the company upon joining the government, Al-Madani is accused of retaining ownership and influencing the Royal Commission to recommend deals
Economy
Total market value of Saudi stocks hits $2.97 trillion
Riyadh, Saudi Arabia - The total market value of the primary Saudi stock market, represented by the All Tadawul Share...
- This valuation encompasses shares from 231 listed companies and funds currently actively traded in the market
- The total shares listed on the main stock market is reported to be 336.56 billion, with free shares accounting for 81.32 billion
Business
Dubai RTA awards US$95m contract to upgrade ticketing system  Â
DUBAI, UAE - Dubai’s Roads and Transport Authority (RTA) has awarded a contract to upgrade the existing nol (card-based ticketing...
- The aim is upgrade the existing card-based ticketing system to an account based ticketing system, aligning with the top global practices.
- It seeks to develop a flexible and 100 percent scalable digital infrastructure, ensuring 100 percent fintech integration in mobility solutions.
Geostrategy
Skipper Battat leads Palestine on and off pitch at Asian Cup
Doha, Qatar - Musab Al-Battat has led Palestine on the pitch with his all-action performances and off it as the voice...
- The 30-year-old captain will be the man his team look to once again for inspiration when Palestine face hosts and reigning champions Qatar in a daunting last-16 tie.
- The side ranked 99 in the world have progressed into the next round despite a deeply troubled build-up overshadowed by the Israel-Hamas war
Business
Oman’s MSX-listed banks see 18.6 percent net profit growth in 2023
MUSCAT, OMAN - Omani banks listed on the Muscat Stock Exchange (MSX) recorded net profits of US$1.17 billion (RO453.5 million)...
- The banking sector benefited from economic growth, foreign trade, investment, government revenues.
- The preliminary financial results showed that all seven banks listed on MSX posted higher profits.
Arts & Culture
Expo City Dubai launches 10-day festival of Emirati light art and culture
DUBAI, UAE - Dhai Dubai, the first-ever Emirati-led light art festival, has launched its illuminating 10-day program at Expo City...
- The event celebrates the rich artistic tapestry of Emirati through a series of awe-inspiring artistic projections, interactive installations.
- The free-to-attend festival is created and organized by Expo City Dubai, in partnership with AGB Creative and will run from January 26 to February 4.
Business
Saudi Arabia’s Red Sea Global deploys robot for Red Sea, Amaala beach cleanup
Riyadh, Saudi Arabia - Red Sea Global, a company wholly owned by the Public Investment Fund (PIF) of Saudi Arabia,...
- The robot is designed to tackle the plastic waste and other debris
- It can cover up to 3,000 square meters in just an hour
46,223 structures destroyed, 18,478 severely damaged in Gaza: UNOSAT
Geneva, Switzerland - The United Nations Satellite Centre (UNOSAT) has identified 46,223 destroyed structures, 18,478 severely damaged structures, 55,954 moderately...
Geostrategy
Company News
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TAQA, JERA sign pact with SATORP to develop plant in Saudi ArabiaÂ
ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...
Business
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...
Economy
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,...
Business
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Economy
Visa-free policies make Middle East preferred destination for Chinese travelers
Dubai, UAE - As China's outbound tourism steadily rebounds from the pandemic's impact, the Middle East is emerging as a...
- Data from online travel agencies including Ctrip, Tongcheng, Tuniu, Mafengwo, and Zuzuche indicates a significant rise in Chinese tourists flocking to the UAE
- Destinations like the UAE, Saudi Arabia, Qatar, Egypt, and Morocco have witnessed increasing demand from Chinese travelers, partly due to their visa-free policies
Arts & Culture
Saudi RCU begins rock excavation for Sharaan Resort in AlUla
ALULA, SAUDI ARABIA – The Royal Commission for AlUla (RCU) has marked a significant milestone in the development of the...
- The initial excavation symbolizes the start of a mission that combines Jean Nouvel’s architectural innovation with Bouygues' engineering expertise.
- This milestone is an important step forward in AlUla's evolution into a premier destination for sustainable luxury tourism.
Arts & Culture
Hotel Dar Tantora is inspired by Saudi’s AlUla ancient mudbrick buildings
ALULA, SAUDI ARABIA – Situated in the heart of Old Town here, Dar Tantora Hotel offers guests a chance to...
- AlUla’s Old Town, with its origins going back over 700 years, prospered along the renowned incense trade route.
- With over 900 traditional mudbrick homes, the Old Town stands as a testament to the Kingdom’s enduring cultural heritage.