World Bank announces Lebanon, Syria reconstruction projects
Beirut, Lebanon -- The World Bank announced on Wednesday it had approved $250 million to support Lebanon's post-war reconstruction and...
Economy
Iraq’s water reserves lowest in 80 years after a dry rainy season
Baghdad, Iraq -- Iraq's water reserves are at their lowest in 80 years after a dry rainy season, a government...
Geostrategy
Economy
NEOM announces Treyam, its premier lagoon destination
Neom, Saudi Arabia - NEOM, Saudi Arabia’s futuristic mega city will now have a premier resort where the spectacular desert...
- Boasting an audacious design with minimal land intervention, Treyam offers guests an elevated haven to unwind, re-energize, and enjoy majestic natural surroundings
- Strategically located across the opening of one of the most beautiful azure lagoons at the southern end of the Gulf of Aqaba, the resort stands as a luxury gateway
Borse Dubai to sell Nasdaq shares
The sale is poised to generate $1.59 billion.
- Borse Dubai is selling 27 million shares at $59 each in a secondary offering, a decision revealed in a stock exchange filing
- The offering also grants underwriters a 30-day option to acquire up to four million additional shares of Nasdaq
Economy
UK inflation slows to lowest level since September 2021
ONS chief economist Grant Fitzner said "food prices were the main driver of the fall, with prices almost unchanged this...
- Inflation reached 3.4 percent last month - the lowest level since September 2021 - after hitting 4.0 percent in January, according to the Office for National Statistics
- The BoE is widely expected to keep its main interest rate on hold in an announcement due Thursday following its latest regular monetary policy meeting
Economy
Dubai job hunt: Tips for success in the city of opportunity
Dubai, UAE - The UAE was recognized as the top destination for international professionals seeking employment visas. According to the...
- Dubai, as a cosmopolitan, sophisticated, and luxurious city, becomes a magnet not only for highly skilled talents but also for young professionals
- The city offers unique opportunities for professional advancement, as it hosts major international corporations and continuously nurtures progressive startups
Date palm cultivation in AlUla sees increased productivity
AlUla, Saudi Arabia - Date palm cultivation in AlUla governorate has witnessed a significant increase in productivity this year, with...
- The governorate boasts more than 2 million date palm trees, and the Royal Commission for AlUla (RCU) is actively engaged in expanding the tree count
- AlUla plans to support farmers and enhance the value of dates by organizing festivals and markets that enable farmers to sell and export their products
Business
UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...
- This robust financial footprint positions the UAE as a significant economic force with strong potential for continued expansion.
- The focus on emerging markets and the creation of strategic partnerships further amplifies this momentum.
Economy
Oman issues Treasury Bills worth US$181m this week
MUSCAT, OMAN – The Central Bank of Oman (CBO) has announced that the total issuance of Treasury Bills amounted to...
- The value of the allotted Treasury Bills amounts to US$12.9 million for a maturity period of 28 days.
- The value of the allotted Treasury Bills amounts to US$74 million for a maturity period of 91 days.
Business
Saudi EXIM bank surpasses 2023 credit goals by 33%
Riyadh, Saudi Arabia -- The Saudi EXIM Bank has given credit facilities amounting to SAR16.5 billion ($4.455 billion), surpassing the...
- One significant achievement was a credit facility agreement valued at $503.9 million with Trafigura Company, a major international export house
- The agreement aims to facilitate Saudi non-oil exports to over 150 countries, contributing to the objectives of the Kingdom's Vision 2030
Business
Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...
- This service aims to enhance its strategic partnerships with major international shipping lines, support the maritime sector.
- This initiative represents a significant step in bolstering the role of King Abdulaziz Port in Dammam in enhancing the maritime transport sector.
Al-Azhar Ash-Sharif celebrates 1084th anniversary
Cairo, Egypt - Historic al-Azhar Mosque marked its 1084th anniversary of its founding on March 17, celebrated by al-Azhar ash-Sharif...
- The event, held annually on the seventh day of Ramadan, features various activities highlighting the mosque's rich history
- The history of the establishment of the Al-Azhar Mosque dates back to the year 970 by the Fatimid Caliph Al-Muizz Li-Din Allah
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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
World Bank announces Lebanon, Syria reconstruction projects
Beirut, Lebanon -- The World Bank announced on Wednesday it had approved $250 million to support Lebanon's post-war reconstruction and...
Economy
Company News
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Gen Z travellers in UAE seek purposeful, tech-enabled journeys: Wyndham study
Dubai, UAE - Gen Z travellers in the UAE are reshaping the future of tourism, prioritizing cultural immersion, sustainability, and...
The game of ‘chicken’ being played with the world economy can be brought to a cooperative end
A meaningful “G3” accord between the US, Europe, and China must include coordinated fiscal, monetary, development, and trade policies. From...
Economy
Morocco volunteers on Sahara clean-up mission as part Nomads Festival
M'HAMID EL GHIZLANE, Morocco - It may be the gateway to the vast Sahara desert, but that does not mean...
Economy
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Geostrategy
Israel presses ground offensive in Gaza, encircles part of Rafah city
Israel's military pressed ground operations across the Gaza Strip on Sunday, encircling part of Rafah city near Egypt almost a...
- Israeli troops on Sunday encircled Tal al-Sultan in Rafah, the military said in a statement, adding its objective was to dismantle terrorist infrastructure
- Three weeks ago Israel blocked the entry of humanitarian aid into Gaza and cut electricity in a bid to force Hamas to accept the Israeli terms for an extension of the truce
Business
Layali Diriyah: Blending scents of history, culture, global flavors
Riyadh, Saudi Arabia - Surrounded by the natural emblem of palm trees, Layali Diriyah during Ramadan radiates a distinctive ambiance,...
- The ambiance merges ancient heritage with modern luxury, creating a memorable atmosphere for visitors
- Guests enjoy a fusion of authentic traditions and contemporary elements, complemented by diverse international cuisines
Geostrategy
Israel defence minister threatens to annex parts of Gaza unless Hamas frees the remaining Israeli hostages
The warning came as Israel stepped up the renewed assault it launched on Tuesday, shattering the relative calm that had...
- Gaza's civil defence agency said Israeli strikes killed 11 people on Friday -- three in pre-dawn strikes and eight more during the daytime
- Should Hamas not comply, Katz also threatened to expand buffer zones around Gaza to protect Israeli civilian population areas