‘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...
Business
Canon Middle East, Dubai Business Women Council launch ‘Women Who Empower’ campaign
Canon Middle East and DBWC launch the 'Women Who Empower' campaign, offering training and opportunities for women in imaging and...
Arts & Culture
Geostrategy
Sheikh Hamdan approves $41m worth bonus for civilian employees of Dubai govt entities
DUBAI Â UAE - Â Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince and Chairman of The Executive Council of...
- The bonuses will be granted to eligible civilian employees based on the criteria set by the DGHR.
- The Dubai Government remains committed to acknowledging excellence and holds in high regard those who make significant contributions
Arts & Culture
10m people attend Riyadh Season 2023 events in first 50 days, says report
RIYADH, SAUDI ARABIA - According to the Riyadh Season, 10 million people took part in the activities organized in the...
- Riyadh Season 2023 started in late October, and since then, it has witnessed a large visitor turnout at all entertainment areas.
- At the Season, visitors can enjoy concerts, exhibitions, festivals and other events in which celebrities and prominent brands participate.
Ukraine says it shot down three Russian Su-34 fighters
Air force commander Mykola Oleshchuk said the Su-34 jets were downed around noon on Friday. In his announcement he noted...
- In his nightly address on Friday, President Volodymyr Zelensky thanked the soldiers who shot down the Russian fighters in the Kherson region
- The Kremlin has not commented on the Ukrainian claims but Russian war blogger Fighterbomber said there had been losses, likely due to the Patriot missile air-defence system
Deyaar, Arady Properties sign MoU
Deyaar is a leading real estate developer in Dubai.
- The MoU outlines the commercial objectives for the project and provides a framework for further negotiations
- Deyaar has developed strategic partnerships with renowned real estate entities in the region and beyond
Geostrategy
Saudi defense minister hosted by UK counterpart at Lancaster House in London
Riyadh, Saudi Arabia — UK's Secretary of State for Defense Grant Shapps welcomed Saudi Arabia's Minister of Defense Prince Khalid bin...
- Upon Prince Khalid bin Salman's arrival, a formal reception ceremony was held, featuring a review of the guard of honor
- The two sides discussed strengthening the strategic partnership between the UK and Saudi Arabia
Economy
UAE insurance sector grows with rise in gross written premiums in Q3 2023
Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) has said that the UAE insurance sector continued to...
- CBUAE stated that by the end of Q3 2023, the number of licensed insurance companies in the UAE remained at 60
- The sector comprised 23 traditional national companies, 10 Takaful national and 27 foreign companies
Economy
Central Bank of Egypt keeps interest rates unchanged
Cairo, Egypt – The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) has kept the current key...
- The decision leaves the overnight deposit rate at 19.25 percent and the overnight lending rate at 20.25 percent
- The MPC noted a decline in key international commodity prices, especially energy, which has eased global inflation pressures
Economy
Saudi EXIM Bank, DBK sign MoU
It will boost the trade between Saudi Arabia and Kazakhstan.
- Under the MoU, both banks have also agreed to exchange information, experiences, and best practices to enhance the development of services and products
- It will also facilitate collaborative research efforts and knowledge sharing to design export credit policies and practices and provide workforce training opportunities
Business
44 large direct deals on IHC worth $1.205 bn at ADX Thursday
Abu Dhabi, UAE – A wave of 44 large direct deals swept over the International Holding Company (IHC) shares on...
- Large direct deals are trades that are executed outside the order book and do not affect the closing price of the relevant company's stock
- They also do not affect the highest and lowest prices executed during the session and during the last 52 weeks
Economy
UAE banking sector sees $71.87 billion in savings deposits until October 2023
Dubai, UAE - Savings Deposits in the banking sector in the UAE, excluding interbank deposits, hit $71.87 billion by the...
- The local currency, the dirham, accounted for the largest share of Savings Deposits, with around 82 percent, which is $59.12 billion
- Demand Deposits rose to $262.77 billion at the end of October 2023, with an annual growth rate of 5.6 percent
‘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...
Business
Company News
Latest News
S&P affirms Saudi Arabia’s A/A-1Â credit rating
Riyadh, Saudi Arabia - The international credit rating agency S&P Global Rating affirmed its foreign and local currency sovereign credit...
Economy
Saudi Arabia grapples with over 1 million tons of annual vegetable waste
Riyadh, Saudi Arabia - Saudi Arabia faces substantial annual losses in its agricultural sector, including 234,000 tons of tomatoes and...
Economy
Most Read
Diriyah unveils 20,000-seat arena in $63bn Saudi masterplan
Diriyah, Saudi Arabia - Saudi Arabia, has revealed plans for "The Arena in Diriyah," a monumental 76,000-square-meter lifestyle facility set...
- Designed by London-based HKS Architects as part of a $63.2 billion masterplan, the arena aims to become the Middle East's premier venue destination
- Embracing Najdi architecture motifs, the arena promises a versatile design enabling swift configuration changes for hosting various events
Economy
Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...
- The cost-of-living index for February rose to 110.64 points, according to the base year 2018, from 108.67 points in the same month a year earlier.
- Inflation is measured by the percentage change in the cost of living between the current period and the corresponding period of the previous year.
Business
Ajman records real estate transactions worth US$195m in February
AJMAN, UAE – Director-General of Ajman’s Department of Land and Real Estate Regulation Eng. Omar bin Omair Al Muhairi said...
- A total of 129 real estate valuation transactions took place in the emirate in February.
- There was a rise of 44.7 percent in commercial property value in February compared to January.