22 killed in Israeli air strikes across Gaza
The Israeli military has stepped up its Gaza offensive in recent days in what it has described as a renewed...
Geostrategy
Real estate transactions in five UAE emirates reach $65 billion in Q1
Abu Dhabi, UAE -- Real estate transactions across five emirates in the UAE surged to over AED 239 billion ($65...
Business
Economy
Saudi Arabia ranks 1st in international tourist arrivals growth in 2023
Riyadh, Saudi Arabia - Saudi Arabia topped the UN Tourism’s ranking for the growth of international tourist arrivals in 2023...
- The kingdom recorded a remarkable tourism recovery rate of 156% in international tourist arrivals in 2023 compared to 2019, the report revealed
- Saudi Arabia set a record in international tourist receipts, with total spending exceeding SAR 100 billion ($27 billion) for the first three quarters of 2023
Geostrategy
Iran, Armenia eye $3 billion bilateral trade volume
Tehran, Iran – Deputy Prime Minister of Armenia Mher Grigoryan on Thursday said that Iran and Armenia have the potential...
- Grigoryan made the remarks during the 18th meeting of the Iran-Armenia Joint Economic Commission where he also described Iran as “a very important partner.”
- The 18th meeting of the Iran-Armenia Joint Economic Commission was held on February 14-15 in Tehran to further foster economic ties between the two countries
Geostrategy
Israel faces fresh US calls against attack on Rafah
Palestinian Territories - Israel faced renewed calls from key ally the United States on Friday against launching a large-scale attack...
- Israeli Prime Minister Benjamin Netanyahu has insisted he would push ahead with a "powerful" operation in the overcrowded city to achieve "complete victory" over the Hamas
- The White House said US President Joe Biden had spoken by phone with Netanyahu late Thursday, urging him not to carry out an attack on Rafah without a plan to keep civilians safe
Business
Mawani completes Red Sea Gateway Terminal at Jeddah Islamic Port
Riyadh, Saudi Arabia - The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah...
- The gateway terminal has larger capacity, is equipped with the Optical Character Recognition (OCR) feature, and uses 146 different types of equipment
- The development of Jeddah Islamic Port’s North Container Terminal is included in the Build-Operate-Transfer (BOT) contract
Geostrategy
Saudi Arabia’s Madinah, KAEC, Al-Ahsa join UNESCO global network of learning cities
RIYADH, SAUDI ARABIA - The United Nations Educational, Scientific and Cultural Organization has announced that the cities of Madinah, King...
- Saudi Arabia now boasts five cities enlisted in the UNESCO GNLC, contributing to the goal of equipping globally competitive citizens.
- Previously, Yanbu Industrial City was designated as a UNESCO Learning City in 2022 and Jubail Industrial City earned the Learning City status in 2020.
Economy
Saudi Arabia set to establish more smart industrial zones
Riyadh, Saudi Arabia - Saudi Arabia will establish more smart industrial zones, Minister of Municipal and Rural Affairs and Housing,...
- Minister of Municipal and Rural Affairs and Housing, Majed Al-Hogail revealed this at the conclusion of the inaugural Global Smart City Forum 2024 here on Tuesday
- Minister of Industry and Mineral Resources Bandar Alkhorayef who also attended the Forum, stressed the industry and mining sectors' increasing demand for smart industrial cities
Economy
Saudi budget records $10 billion deficit in Q4 2023
Riyadh, Saudi Arabia - Saudi Arabia's general budget recorded a deficit of $9.86 billion in the fourth quarter of 2023,...
- The total revenues for the period amounted to $95.45 billion, while total expenses reached about $105.32 billion
- This reflects a slight increase in the deficit compared to the previous quarter, which stood at $9.54 billion
Economy
Saudi Arabia extends online services to help foreign firms set up regional hqrs in kingdom
Riyadh, Saudi Arabia - Saudi Arabia's Ministry of Commerce has announced the provision of online services for foreign companies looking...
- These services encompass issuing regional headquarters as a branch or as a new foreign company, in addition to issuing, amending, and renewing commercial registers
- The electronic services are accessible through the ministry's digital platform at e.mc.gov.sa and the Saudi Business Center's platform at business.sa
Economy
Saudi Arabia enacts law to safeguard whistle-blowers and witnesses
Riyadh, Saudi Arabia - Saudi Arabia on Tuesday granted approval for the law for the protection of whistleblowers, witnesses, experts,...
- The milestone law, previously greenlit by the Shoura Council, is designed to safeguard individuals who may face threats for providing information on crimes
- The law empowers judicial authorities to shield them from potential threats, assaults, revenge, intimidation, and other risks
Business
UAE residents anticipate full electric and hybrid vehicle takeover in coming years: survey
Dubai, UAE - About 63% of respondents in the UAE plan to make EVs their primary mode of transport by...
- The survey also found that 73% respondents are confident that the UAE will have charging stations every few kilometers by 2028
- It also highlights a substantial wave of interest in EVs, with 26% of non-EV owners expressing interest in purchasing one in the next 12 months
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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
22 killed in Israeli air strikes across Gaza
The Israeli military has stepped up its Gaza offensive in recent days in what it has described as a renewed...
Geostrategy
Company News
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$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...
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...
Business
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Geostrategy
Saudi Arabia says no Israel normalization without Palestinian state
Riyadh, Saudi Arabia - Saudi Arabia said Wednesday it will not formalize ties with Israel unless a Palestinian state is established,...
- Both US President Donald Trump and his predecessor Joe Biden have backed Israel and Saudi Arabia having diplomatic relations
- Riyadh paused tentative talks on the matter early in the Gaza conflict and hardened its rhetoric as the war continued
Geostrategy
Trump doubles down on Gaza shock plan, says Israel will turn over the territory to US
Trump said that by the time of the handover, Palestinians "would have already been resettled in far safer and more...
- Trump first made the stunning proposal to audible gasps during a joint press conference with Netanyahu on Tuesday, whom he was hosting at the White House for talks
- Suggesting "long-term ownership" by the US, Trump said he would make Gaza the Riviera of the Middle East, and that "this could be something that could be so magnificient".
Geostrategy
Syrian President’s first foreign trip to Saudi Arabia signals Syria’s shift away from Iran’s influence.
Syrian President Ahmed al-Sharaa met Saudi Crown Prince Mohammed bin Salman in Riyadh, marking his first foreign visit and signaling...
- Al-Sharaa’s visit signals Syria’s pivot away from Iran and closer ties with the Gulf states
- Saudi Arabia is leading efforts to reintegrate Syria into the regional fold and push for sanctions relief