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...
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...
Business
Economy
Saudi Exchange launches TASI50 Index tracking top 50 companies by market capitalization
Riyadh, Saudi Arabia – The Saudi Exchange has announced the launch of the TASI50 Index, which tracks the top 50 companies...
- The companies have a minimum annual traded value ratio (ATVR) of 5%, ensuring that the index tracks the largest companies in the market
- The index is an important tool for both individual and institutional investors, providing an overview of market performance in real time
Geostrategy
Blinken warns Israel-Hamas war could ‘metastasize’
Blinken will meet with Crown Prince Mohammed bin Salman in the Saudi desert city of Al-Ula, said a US official...
- Israel has carried out a relentless bombardment and ground invasion that have killed at least 22,835 people in Gaza, most of them women and children
- Amid the deepening humanitarian crisis and mass displacement in Gaza, Blinken said civilians "must be able to return home as soon as conditions allow".
Makkah region sees 600% surge in green spaces within 5 months
Jeddah, Saudi Arabia - There has been a 600% increase in green spaces in Makkah region from August to December...
- Remote sensing data analysis revealed that the total area of vegetation cover in Makkah in August was 3,529.4 square kilometers
- This area gradually rose over the following months with increased rainfall, reaching 26,256 square kilometers by the end of the year
Economy
UAE market cap soars as top 16 companies hit $734bn
Abu Dhabi, UAE - The aggregate market capitalization of the top 16 national companies listed on local exchanges stood at...
- The 16 listed companies accounted for about 74% of the total market capitalization of the local stock markets, which was around $998 billion at the close of trading
- The IHC held the top position with a market capitalization of more than $244 billion, approximately 24.5% of the local markets' capitalization
Geostrategy
Saudi Arabia releases 132 animals in NEOM Nature Reserve
RIYADH, SAUDI ARABIA - The National Center for Wildlife, in collaboration with NEOM, has released a total of 132 animals...
- This initiative aims to rehabilitate and ensure the adaptation of these animals to their new environment before releasing them into the wild.
- The released animals consist of 80 Arabian sand gazelles, 12 mountain gazelles, 12 ibexes, and 28 Arabian Oryx.
Economy
Saudi insurance sector targets 25m beneficiaries by 2030
Riyadh, Saudi Arabia - Saudi Arabia saw an 18% surge in health insurance beneficiaries in 2022, reaching a total of...
- The expansion in the sector is largely propelled by the introduction of the mandatory health insurance for private sector workers and their dependents
- Saudi Arabia saw an 18% surge in health insurance beneficiaries in 2022, reaching a total of 11.5 million individuals by year-end
Business
Yanbu industrial port receives first RORO vessel, carrying nearly 2,000 cars
Yanbu, Saudi Arabia - The King Fahad Industrial Port in Yanbu welcomed the arrival of the "Hoegh Sydney," marking the...
- The port's strategic location along the Red Sea coast, coupled with its infrastructure, has attracted global shipping lines
- It boasts high operational capabilities with wide approach channels accommodating larger vessels with berth depths up to 18 meters
Business
Dubai Duty Free achieves all-time record sales of over US$2.16bn in 2023
DUBAI, UAE - The New Year began on a high note for Dubai Duty Free with the announcement of an...
- December 2023 finished for Dubai Duty Free with record monthly sales of US$221 million, an 8.37 percent increase compared to 2022.
- It's 40th anniversary celebrations offered a 25 percent discount on December 20 which led to a shopping spree of $14.8 million in 24 hours.
Business
Weyay recognized as ‘Fastest Growing Digital Bank’ in Kuwait by Mastercard
Kuwait City - Weyay was recognized as 'Fastest Growing Digital Bank' in Kuwait by Mastercard on the sidelines of the...
- Since its inception as Kuwait’s first digital bank in 2021, Weyay has combined technology with a dynamic design for a seamless and comprehensive banking experience
- Weyay has played a major role in providing banking services to the youth and early career professionals, aligning seamlessly with their tech-centric lifestyles
Geostrategy
UAE participates in UN Peacekeeping Ministerial Meeting in Ghana
ACCRA, GHANA - A United Arab Emirates delegation led by Dr. Rashed Ali Al Kaabi, Assistant Minister of Foreign Affairs...
- The ministerial meeting was the first in Africa with previous sessions taking place in the US, the UK, Canada and the Republic of Korea.
- The UAE delegation head held several meetings with the heads of attending delegations, including France, the UK, Bangladesh and others.
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...
Company News
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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...
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...
Business
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...
Economy
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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
Arts & Culture
Riyadh set to debut historic Saudi opera ‘Zarqa Al-Yamama’ on April 25
Riyadh, Saudi Arabia - The capital city of Riyadh is abuzz with excitement as preparations are underway for the premiere...
- The opera is poised to make history as the first grand opera produced in the Kingdom and the largest Arabic grand opera ever staged
- The opera revolves around the legendary figure of Zarqa al-Yamama, a woman from the Geddes tribe known for her foresight and sharp intuition