Global anti-malware crackdown leads to 20 arrest warrants, Europol says
Authorities took down more than 300 servers worldwide, neutralized 650 domains and seized 3.5 million euros ($3.9 million) in cryptocurrency,...
Geostrategy
Iran-US nuclear talks set for Rome this week: Oman mediator
Iran and the United States will hold the next round of talks on the Islamic republic's nuclear programme in Rome...
Geostrategy
Business
Turkey’s Tosyali plans $5bn investment for steel plant in Saudi Arabia: report
Riyadh, Saudi Arabia - Turkish-based Tosyali Holding is making nearly $5 billion investment in a new steel plant in Saudi...
- The investment is part of Tosyali Holding's broader expansion strategy, which encompasses ventures in Algeria, Angola, Senegal, and Spain
- In line with their renewable energy efforts, Tosyali Holding plans to boost its solar output from the current 240 megawatts to 2,500 megawatts
Business
Aramco chief expects oil demand to rise by 1.5 mbpd in 2024
Riyadh, Saudi Arabia - Saudi Aramco's President and CEO, Amin Nasser, anticipates a surge in global oil demand, projecting an...
- Amin Nasser pointed out that the global oil market is poised for a supply shortage as consumer stockpiles have dwindled by 400 million barrels over the past two years.
- He acknowledged that while global oil markets can manage short-term disruptions in the Red Sea, sustained attacks on ships could lead to a shortage of tankers
Economy
UAE launches new ‘EcoMark’ green accreditation framework for MSMEs
Davos, UAE - The UAE has announced plans to develop the first-ever sustainability accreditation framework explicitly for micro, small and...
- The EcoMark certification, which is based on ISO standards and digitally enabled, will include a full suite of resources to help MSMEs attain EcoMark status
- Launching the initiative, UAE minister Al Zeyoudi stressed that MSMEs have a pivotal role in driving the transition toward a lower carbon economy
Economy
Gold extends slide after Fed dampens March rate cut hope
Dubai, UAE - Gold prices extended losses on Wednesday as the US dollar strengthened after comments from a Federal Reserve...
- Spot gold was down 0.2% at $2,023.49 per ounce, as of 0415 GMT, after stooping 1.3% in the previous session - its biggest single-day decline since 4th December 2023
- The US Dollar Index, which gauges the dollar's strength against a basket of major currencies from key US trading partners has surpassed the 103.30 level
Business
Mawani reports rise in container handling
The growth aligns with the aims of national logistics strategy.
- Saudi Arabia's overall ports recorded a 9.01% increase in annual container handling for 2023, reaching 11,380,302 TEU compared to 10,439,620 TEU in 2022
- Transshipment containers also experienced an 8.96% increase in volume, with 3,237,490 TEU transshipped in 2023 compared to 2,971,233 TEU in 2022
Business
Iran wants trade with Saudi Arabia to be highest in region: Ambassador
Riyadh, Saudi Arabia - Iran wants to elevate the levels of trade and investment exchanges with Saudi Arabia to the...
- The remarks assume significance in light of the absence of trade exchanges between the two countries, despite the significant scale of their foreign trade
- In 2022, Saudi Arabia's foreign trade reached approximately $601.1 billion, while Iran's trade volume amounted to about $132.6 billion
Geostrategy
Iran, India reach final agreement on Chabahar Port
Tehran, Iran – Iran and India on Monday finalized an agreement for the development of the strategic Chabahar port in...
- Chabahar Port, Iran's sole oceanic port on the Gulf of Oman, holds strategic importance both strategically and economically
- In May 2016, India, Iran, and Afghanistan signed a trilateral agreement for the Chabahar port, facilitating New Delhi's access to Kabul and Central Asia
Economy
Saudi authorities reduce fee for recruiting domestic help
Riyadh, Saudi Arabia - Saudi Ministry of Human Resources and Social Development (MHRSD) announced on Monday that it has cut...
- The ministry had previously directed licensed recruitment companies and offices to set the upper limit for the costs of recruiting domestic worker services from some nationalities
- The decision comes within the framework of the ministry’s effort to develop all services, improve the labor market environment and enhance its attractiveness
Business
Aramco Digital, Intel to join hands
The aim is to help develop of Open RAN technologies.
- The facility is expected to drive innovation, foster technological advancements and contribute to the digital transformation landscape in the Kingdom.
- This collaboration aims to align with Saudi Arabia's Vision 2030, which focuses on technological advancements and economic diversification.
Business
Saudi Arabia unveils 45,000-seat multi-use stadium in Qiddiya City
RIYADH, SAUDI ARABIA - The Board of Directors of the Qiddiya Investment Company (QIC) announced on Monday the launch of...
- Upon opening, the stadium is anticipated to host some of Saudi Arabia’s biggest sports, entertainment, and cultural events.
- It aims to draw visitors from across the globe and revolutionize the traditional stadium experience with its immersive design.
Most Read
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
Global anti-malware crackdown leads to 20 arrest warrants, Europol says
Authorities took down more than 300 servers worldwide, neutralized 650 domains and seized 3.5 million euros ($3.9 million) in cryptocurrency,...
Geostrategy
Company News
Latest News
Global workforce transformation by 2030: WEF predicts 78 million new jobs amid disruptive changes
The widening skills gap challenges employers, with over 59% of the workforce needing reskilling while millions risk redundancy due to...
Economy
Qatar’s non-energy private sector shows strong growth in 2024
Doha, Qatar – Qatar’s non-energy private sector recorded robust growth in the final months of 2024, according to the latest...
Economy
UAE discusses temporary Gaza governance with US, Israel, seeks two-state solution assurance: report
Discussions led by the UAE include provisional administration, PA leadership overhaul, and Gaza reconstruction, requiring extensive international cooperation and adherence...
Geostrategy
Most Read
Economy
Dubai ranks among world’s top 10 cities in Global Power City Index for second consecutive year
Dubai, UAE - Dubai has been ranked eighth worldwide and first in the Middle East in the Global Power City...
- In an annual study released by Japan’s Mori Memorial Foundation, the index highlights Dubai’s role as a leader in innovation, economic dynamism, and global connectivity
- This achievement makes Dubai the only city in the Middle East to feature in the top 10, reaffirming its position as a major global hub for business, talent, and investment
Economy
UAE labour market transforms with AI revolution and growing demand for high-skill professions
The country is among the most attractive markets for skilled global professionals and talent, thanks to its competitive advantages, including...
- As 2025 begins, the UAE is expected to see a growing demand for highly skilled professionals, particularly in AI and fields leveraging AI technologies across various industries
- A 2024 report by Deel, a global HR management company, highlighted the UAE as the top choice for workers seeking work visas worldwide
Economy
Females make up 37.6% of the GCC population of 57.6 million
Muscat, Oman - The population of the six GCC countries reached 57.6 million in 2023, compared to 56.6 million in...
- The population density was 23.9 people per square kilometre, with the total area of the GCC countries amounting to 2.4 million square kilometres
- The Atlas revealed that the total workforce in the GCC countries reached approximately 33.1 million in 2023, compared to 30.3 million in 2022