TOURISE 2025: Riyadh to host premier summit for sustainable tourism
Riyadh, Saudi Arabia -- Saudi Arabia's Minister of Tourism, Ahmed Al-Khateeb, has officially unveiled TOURISE, a groundbreaking global platform set...
Business
Ads pressured to evolve as AI changes Google search
San Francisco, United States -- As Google races to lead in artificial intelligence, it faces the challenge of making sure...
Business
Business
Global personal computer shipments decline 14.8 percent in 2023
DUBAI, UAE - Worldwide PC shipments totaled 63.3 million units in the fourth quarter of 2023, a 0.3 percent increase...
- PC shipments reached 241.8 million units in 2023, a 14.8 percent fall from 2022.
- This is the first time that shipment volume has dipped below 250 million since 2006.
Economy
Saudi Arabia to highlight role in dealing with global challenges at WEF meet
RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...
- Saudi Arabia’s participation in the annual meet underscores its pivotal role in the transition toward carbon neutrality.
- The Kingdom’s engagement provides an opportunity for communication with key players in the private sector globally.
Geostrategy
Egypt denies suspending navigation through Suez Canal
Cairo, Egypt - Egypt Saturday said that navigation movement in the canal is regular from both directions, Chairman of the...
- Dollar revenues from Egypt's Suez Canal have experienced a 40 percent decline since the beginning of the year compared to 2023
- The Suez Canal is a crucial source of foreign currency for Egypt, and efforts have been made to boost revenues, including the ongoing expansion of the canal
Saudi Arabia announces operational start of this year’s Hajj season
Riyadh, Saudi Arabia - Saudi Minister of Hajj and Umrah, Tawfiq Al-Rabiah, officially inaugurated the operational activities for the 1445...
- The commencement follows the conclusion of the Hajj and Umrah Services Conference and Exhibition, a 4-day event that showcased facilities for the well-being of pilgrims
- The conference witnessed the signing of multiple agreements covering areas such as housing, logistical services, healthcare, transportation, catering, technology, etc
Business
Record-breaking home sales in Dubai’s upscale market in 2023
Dubai, UAE – Sales of properties worth more than $1.35 million and $2.70 million in Dubai hit record levels in 2023,...
- Among the communities tracked by CBRE, in 2023, Palm Jumeirah registered the highest volume of transactions in both the prime and super-prime market segments
- Off-plan sales in the $1.35 million and $2.70 million segments of the market accounted for 67.2% and 70.8% of total transaction volumes, respectively
Business
Lunate Capital launches Shariah-compliant ETF tracking Indian equities
ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid,...
- The fund will track the performance of Shariah-compliant Indian equities listed on the Bombay Stock Exchange.
- The Index tracks the performance of the 30 most liquid Shariah-compliant Indian stocks listed on the BSE.
Economy
Morocco joins UAE, Jordan, Egypt, Bahrain in regional industrial collaboration
Manama, Bahrain – Morocco became the fifth country to join the UAE, Jordan, Egypt and Bahrain at the fourth meeting...
- Morocco is expected to bring significant value to the partnership, given the country’s advanced industrial capabilities
- The country's GDP exceeded $134 billion in 2022 and its industrial sector provided over 1 million jobs, through some 121,000 companies
The UAE President swears in 3 new ministers
The ministers taking the oath of office were Dr Amna bint Abdullah Al Dahak Al Shamsi who was appointed as...
- President Sheikh Mohamed extended his best wishes to the ministers for success in their new roles
- Sheikh Mohammed bin Rashid said that the UAE leadership places great importance on enriching the government's workforce
Economy
UAE passport most powerful in MENA region, 11th in global index
Abu Dhabi, UAE - The UAE passport has climbed two positions to secure the 11th spot in the 2024 Passport...
- The UAE has been the most improved nation on the Index over the past decade, adding an impressive 106 destinations to its visa-on-arrival list since 2014
- The country's passport continues to lead the region, outpacing other Gulf nations, with Qatar at 53rd, Kuwait at 55th, Bahrain at 59th, Oman at 60th, and Saudi Arabia at 61st
Economy
Saudi PIF Governor: Global demand for metals to rise sixfold by 2040
Riyadh, Saudi Arabia - Public Investment Fund (PIF) Governor Yasir Al-Rumayyan on Wednesday said that the Kingdom’s mineral wealth currently...
- Al-Rumayyan said the Ma’aden mining company owned by the PIF has expanded its exploration activities for gold, zinc, lithium, and other metals
- He revealed that the Kingdom’s mineral wealth currently stands at US$1.3 trillion, with a target to increase it to $1.5 trillion
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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
TOURISE 2025: Riyadh to host premier summit for sustainable tourism
Riyadh, Saudi Arabia -- Saudi Arabia's Minister of Tourism, Ahmed Al-Khateeb, has officially unveiled TOURISE, a groundbreaking global platform set...
Business
Company News
Latest News
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
Saudi Arabia plans to sustain borrowing spree to fund major projects beyond oil: report
Saudi Arabia secured a $2.5 billion revolving credit facility from Abu Dhabi Islamic Bank, Credit Agricole SA, and Dubai Islamic...
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...
Economy
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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
Geostrategy
In a change of tone, Syria’s new leader urges US to pressure Israel for withdrawal
Julani’s appeal comes as Syria signals a shift in its diplomatic tone. Maher Marwan, Damascus’ new governor, told NPR that...
- The report, published by Kan 11, said that Israeli authorities have denied receiving any formal communication on the matter
- A senior security official has stated that Israel "will not compromise its security" in response to the alleged request
Geostrategy
US proposes $8B arms deal with Israel; Biden plans strikes on Houthis as Gaza aid faces Trump-era cuts
The US proposes an $8 billion arms deal with Israel, plans intensified strikes on Yemen's Houthis, while Israel considers cutting...
- According to sources cited by Axios, the arms deal requires formal approval from both the House and Senate committees
- A US official emphasized that the arms sale aligns with the administration’s commitment to Israel's security