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
Kuwait strips tens of thousands of citizenship since August 2024
The latest campaign abolishes naturalization by marriage, which only applied to women, and revokes citizenship granted to wives since 1987....
Geostrategy
MENA print media revenues fell 30% from 2018 to 2022: survey
The report stresses the urgent need for MENA news organizations to overhaul business models, adopt digital strategies, and diversify content...
- The analysis also forecasts a compound annual growth rate (CAGR) of -4% up to 2027, which could cause total MENA revenues to fall even further to US$1.2 billion
- The figures also show that while digital advertising revenues are slowly increasing at a rate of 1% per year, print advertising revenues are set to slump by 11.3% by 2027
Business
Saudi tech firm Alat to ally with Softbank, Carrier Corp, Tahakoum, Dahua Tech
Riyadh, Saudi Arabia - Alat Company, a subsidiary of the Saudi Public Investment Fund (PIF), has announced four global partnerships...
- Amit Midha, global CEO of Alat, said the goal is to aid partner companies in reducing emissions and transitioning towards carbon-neutral production
- Midha emphasized Alat's commitment to leveraging clean energy sources such as solar, wind, and green hydrogen integrating sustainability measures across operations
Arts & Culture
Saudi film industry gets boost with $100m investment fund
Riyadh, Saudi Arabia -The Middle East Financial Investment Company (MEFIC Capital) has unveiled the establishment of the Saudi Film Fund,...
- The strategic fund is an outcome of an agreement involving the Cultural Development Fund, MEFIC Capital, and Roaa Media Ventures
- The Saudi film production market has experienced impressive growth, boasting an annual growth rate exceeding 25%
Saudi retail is 23% of non-oil GDP, expected to grow to $122.6bn in 2024
Riyadh, Saudi Arabia - Saudi Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail said on Monday that the...
- Saudi Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail emphasized the crucial role of the retail sector as a major economic driver
- He expressed optimism that discussions at the summit would contribute to the sector's development and overall service enhancement
Domestic Haj pilgrims in Saudi Arabia guaranteed compensation for lodging issues
Riyadh, Saudi Arabia - Saudi Arabia has announced that domestic pilgrims will be eligible for compensation in the event of...
- According to the Ministry of Hajj and Umrah, pilgrims will receive a 10 percent refund of their package value if there is a delay of more than two hours in obtaining accommodation
- In cases where the service provider fails to deliver the promised accommodation, the ministry will oversee housing arrangements, and the associated costs
Saudi stock market hits 12,500 points, highest since August 2020
Riyadh, Saudi Arabia - The Saudi Stock Market's general index (TASI) surged past the 12,500-point milestone on Sunday, reaching its...
- The increase can be attributed to the positive momentum generated by the disclosure of financial results, the majority of which met anticipated outcomes
- The gains in the Agriculture & Food, Building & Construction and Hotels & Tourism sectors also led shares higher
Business
35 Jordanian companies to participate in Gulfood 2024 in Dubai
AMMAN, JORDAN – A total of 35 Jordanian companies are taking part in Gulfood 2024, the world's largest annual food...
- The Jordan Exporters Association is coordinating the country's participation in the event.
- JEA is coordinating local participation in the exhibition for the 20th consecutive time.
Business
Abu Dhabi Judicial Department’s Auction App generated $925m in property sales
Abu Dhabi, UAE - Since its launch in June 2022 through mid-February 2024, the Abu Dhabi Judicial Department's (ADJD) Auction...
- The statistics highlight the growing popularity and effectiveness of the ADJD Auction App as a platform for buying and selling various assets remotely.
- Counselor Yousef Saeed Alabri, Undersecretary of the Judicial Department, said that the smart Auction App revolutionized the bidding process for seized property in judicial cases
Business
Extreme E races for electric SUVs 2024 kick off in Jeddah
Jeddah, Saudi Arabia - Organized by the Saudi Arabian Cycling Federation under the supervision of the Ministry of Sport, the...
- The fourth annual "Extreme E" all-electric sport-utility vehicle (SUV) off-road racing series will witness the participation of eight two-racer teams
- The first edition of this global competition was held in AlUla in 2021 and the 2022 and 2023 editions were held in NEOM
Geostrategy
Hizbollah chief says Israel to pay ‘with blood’ for Lebanon civilians killed
Nasrallah said the killing of civilians was aimed at "putting pressure" on Hizbollah to stop attacks on Israel, but stressed...
- He warned that his movement has "precision-guided missiles that can reach... Eilat", on Israel's Red Sea coast, beyond the northern towns it usually targets in retaliatory strike
- Hamas ally Hizbollah and its arch-foe Israel have been exchanging near-daily fire across the border since the Israel-Hamas war broke out on October 7
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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
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
Company News
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Trump and Zelensky clash in heated Oval Office meeting over Ukraine peace deal
During a tense meeting at the White House, Trump and Zelensky argued over the war with Russia, with Trump accusing...
Geostrategy
Microsoft retires Skype, the online voice and video call pioneer
San Francisco, United States - Microsoft on Friday announced it was retiring Skype, the online voice and video call pioneer...
Science
Saudi Arabia, Gulf neighbours say Ramadan to start on Saturday
Observing fasting during Ramadan is one of the five pillars of Islam, requiring believers to abstain from eating, drinking, smoking...
Arts & Culture
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Business
$2.65bn in contracts signed during first two days of IDEX and NAVDEX 2025
Abu Dhabi, UAE -- Tawazun Council, UAE's authority responsible for managing acquisitions, procurement, and contracts on behalf of the Ministry...
- Tawazun Council signed five deals worth a total of AED 5.8 billion with local and international companies on the second day of IDEX and NAVDEX 2025.
- Tawazun Council is UAE's authority responsible for managing acquisitions, procurement, and contracts on behalf of the Ministry of Defense and security agencies.
Business
UAE announces top-up tax for multinational enterprises
Abu Dhabi, UAE - The Ministry of Finance has announced the issuance of Cabinet Decision No. 142 of 2024 on...
- The top-up tax will apply to entities that are members of Multinational Enterprises (MNEs) operating in the UAE with annual global revenues of €750 million or more
- To bolster the UAE’s competitiveness as a leading investment hub, the top-up tax has been structured to exclude Investment Entities
Geostrategy
UAE, France discuss bilateral ties, sign AI cooperation deal
Paris, UAE - UAE President Sheikh Mohamed bin Zayed Al Nahyan and French President Emmanuel Macron of France explored various...
- Both sides emphasized collaboration in AI, climate action, energy, and sustainable development initiatives
- They signed the UAE-France Framework for Cooperation in AI, including a 1GW AI Campus investment