Riyadh Season 2024 signs sponsorship agreements with local, global partners
Riyadh, Saudi Arabia-- A signing ceremony for Riyadh Season 2024 sponsorships was held on Thursday at Via Riyadh. General Entertainment...
Business
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
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...
- The transportation and storage sector grew by 5.6 percent, contributing USD 4.2 billion (AED 15.4 billion) to the GDP, driven by increased demand for national carriers' services
- The financial and insurance sector also saw a 5.6 percent rise, reaching USD 4.1 billion (AED 15.1 billion), supported by significant growth in credit and deposit balances
Geostrategy
Defiant Netanyahu to face US Congress amid Biden’s withdrawal
US Secretary of State Antony Blinken, using an American football image, said Friday that negotiators were "inside the 10 yard...
- Israel's longest-serving premier will on Wednesday become the first foreign leader to address a joint meeting of the two chambers four times
- But analysts say the Gaza war since the October 7 Hamas attacks has created worrying tensions between Israel and the United States
Saudi Arabia constitutes center for promoting moderate Islam: North Macedonia Mufti
Skopje – Islamic Union President and Republic of North Macedonia Mufti Sheikh Hafiz Şakir Fetahu stressed that Saudi Arabia has...
- He expressed gratitude to Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud
- The president praised the Kingdom's government for its significant and extensive services to the Two Holy Mosques and their visitors, including pilgrims and Umrah performers
Business
Saudi Arabia’s tourist spending reaches $40bn: minister
Saudi Arabia’s Minister of Tourism Ahmed Al-Khateeb highlights the upcoming launch of a tourist visa aimed at drawing more international...
- Passenger air traffic in Saudi Arabia rose by 17 percent in the first half of 2024, reaching 62 million compared to 53 million in the same period last year
- This growth was aided by a 12 percent increase in flights, with 446,000 recorded compared to 399,000 in the first half of 2023
Business
Chinese company to build Saudi Arabia’s first ocean park
Riyadh, Saudi Arabia - Haichang Ocean Park Holdings, China's largest ocean theme park operator, announced plans on Thursday to build...
- Haichang, which has a history of marine-themed tourism spanning over two decades, has previously collaborated on tourism projects in Vietnam, the Philippines, and Indonesia
- Currently operating parks in cities such as Shanghai, Dalian, Zhengzhou, and Sanya, Haichang attracts more than 20 million visitors annually
Economy
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...
- Oregon is a destination where you can wander along stunning shorelines, trek volcanic peaks, and paddle serene lakes
- But it is not just natural beauty, the coastal gem also boasts some of the nation's finest breweries and restaurants
Business
‘Digital transformation levels the playing field for GCC small businesses’
Digitalization is revolutionizing GCC entrepreneurship, offering vast opportunities and challenges, and driving innovation and growth, Jigar Sagar, an influential figure...
- GCC entrepreneurs benefit from reduced operational costs and enhanced productivity through digital technologies like automation, AI, and data analytics, says Sagar
- Women entrepreneurs in the GCC face unique challenges but show remarkable resilience and determination to succeed in business, he adds
Business
UAE realty sector poised for growth as central bank forecasts 6.2% GDP growth in 2025
Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate...
- Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate market forward
- As the UAE continues to strengthen its economic diversification efforts, the real estate sector remains a cornerstone of stability and growth
Business
Aramco, Sempra ink Port Arthur LNG royalties deal
Aramco's 25% participation in Port Arthur LNG Phase 2 aims to expand its gas portfolio and meet the world's growing...
- Port Arthur LNG is a natural gas liquefaction and export terminal in southeast Texas with direct access to the Gulf of Mexico
- Sempra Infrastructure is actively advancing infrastructure projects within the Port Arthur Energy Hub, addressing the rising demand for lower-carbon fuels
Geostrategy
Telegraph report on Hizbollah weapons at Beirut airport sparks outrage
Dubai, UAE - An article in The Telegraph alleging that Hizbollah is stockpiling Iranian weapons at Beirut International Airport (BIA)...
- The Telegraph's report on June 23, 2024, cited unnamed "whistleblowers" who claimed that Hizbollah had amassed "huge quantities of Iranian weapons, missiles, and explosives" at BIA
- The absence of identifiable sources and the reliance on anonymous airport workers as the sole basis for such significant allegations have been points of contention
Riyadh Season 2024 signs sponsorship agreements with local, global partners
Riyadh, Saudi Arabia-- A signing ceremony for Riyadh Season 2024 sponsorships was held on Thursday at Via Riyadh. General Entertainment...
Business
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Roma loans Turkey midfielder Cengiz Under to Marseille for $9.9 million
A transfer fee of 8.4 million euros ($9.9 million) has been set with the Italian club receiving 20 percent of...
Rumsfeld, Iraq war architect, dead at 88
Rumsfeld and vice president Dick Cheney were emblematic of what was seen as excesses in Bush's "war on terror" He...
Saudi Arabia clamps down on anti-vaxxers
The country of 34 million has already administered 12 million doses Over 7,200 people have died of coronavirus in the...
AI adoption in GCC surges as governments and the private sector embrace technology
With 93% of Saudi workers considering generative AI essential, alongside 95% in the Middle East and 79% globally, the region's...
Domestic worker visa applications in UAE up 66% in June 2024, says a report
The UAE, relying on domestic workers (5% of the population), invests $3 billion annually, highlighting the rising demand for domestic...
Economy
UAE launches national strategy to combat money laundering, terror financing
The strategy focuses on risk-based compliance, international cooperation, effective supervision, and disrupting illicit financial activities through improved data collection, analysis,...
Economy
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Business
Dubai real estate sales hit record $13.6bn in July, growth eases
Dubai, UAE - Dubai's real estate market reached a new peak in July, with sales hitting an all-time high of...
- Apartment sales, which accounted for nearly 45% of all transactions, surged by 62% year-on-year, with approximately 70% of these being off-plan sales
- The villa segment also saw a shift towards the off-plan market in the past two months, resulting in a 9.9% year-on-year growth overall
Economy
Disparities in climate action risk worsening global economic inequality, warns new report
Geneva, Switzerland – A recent report by the World Economic Forum (WEF) highlights the growing concern that unequal access to...
- The WEF’s research reveals that disparities in access to green financing pose the greatest risk to economic equity across various sectors
- The findings underline the need for a fair distribution of the costs and benefits of climate action among workers, consumers, and businesses
Economy
Saudi Arabia reforms investment law, simplifies process and investor protection to achieve $100 bn FDI target
The law will ensure equal treatment between domestic and foreign investors, protecting intellectual property and promoting fair competition in line...
- The updated investment law, approved by the Council of Ministers on Sunday, seeks to level the playing field for both domestic and international investors
- It guarantees the rule of law, fair treatment, and the freedom to transfer funds without delay, among other protections