Israeli ‘warning’ fire at diplomats sparks outcry amid Gaza pressure
EU foreign policy chief Kaja Kallas urged Israel to hold to account those responsible for the shooting near Jenin, a...
Geostrategy
US asking countries for ‘voluntary’ Palestinian relocation: Rubio
Israel has again warned the population of Gaza -- nearly entirely displaced since the war broke out over the October...
Geostrategy
Business
Saudi’s Maaden announces discovery of new gold reserves
Riyadh, Saudi Arabia - Saudi Arabian Mining Company (Maaden) on Thursday announced a discovery of substantial gold reserves, marking a...
- The company's exploration program has led to discovery of a gold resource potential spanning across a 100-kilometer stretch from the existing Mansourah Massarah gold mine
- As of year-end 2023, Mansourah Massarah boasted nearly seven million ounces of stated gold resources and a nameplate production capacity of 250,000 ounces annually
ADQ signs multi-year sponsorship agreement with Egypt’s Pyramids Football
Abu Dhabi, UAE – ADQ, an Abu Dhabi-based investment and holding company, on Thursday announced the signing of a multi-year sponsorship...
- Since its establishment and rebranding from Al Assiouty Sports Club in 2018, Pyramids FC has rapidly grown to become one of the high-performance football clubs
- Along with its portfolio companies, ADQ actively supports the development of key sectors of Egypt’s economy through its investments
Economy
Tunisia, Saudi Arabia sign 7 MoUs in various sectors
Tunis - Tunisia and Saudi Arabia signed seven memoranda of understanding in various fields and sectors on Wednesday afternoon The...
- The MoUs encompass various areas such as water, environmental protection, agricultural scientific research, climate and meteorology cooperation, tourism and industry
- Tunisian minister Boughdiri stressed her commitment to enhancing collaboration between the two nations, highlighting the significance of these agreements
Geostrategy
GDP of new expanded BRICS to exceed that of G7 countries: Russia
Moscow, Russia - The aggregate GDP of the BRICS countries after the accession of its new members in 2024 will...
- The total GDP of the BRICS in the new line-up will already significantly exceed that of the G7, Russia’s foreign minister Sergey Lavrov said
- Lavrov noted that the share of Global South and Global East countries in the overall world economy is growing
Business
UAE farm harvests $5.6m from carbon credits in eco-friendly agriculture triumph
Dubai – An innovative agricultural project in the United Arab Emirates, has generated $5.6 million euros from carbon credit sales. The...
- Carbon credits are permits that allow a company to emit a certain quantity of greenhouse gases, with one credit equaling the emission of one ton of carbon dioxide
- Companies are allocated a specific number of these credits, and If they reduce their emissions and have surplus credits, they can sell these to other companies
Business
India’s L&T secures EPC contract for Saudi Arabia’s Amaala project
New Delhi, India - Larsen & Toubro (L&T) secured a major Engineering, Procurement, and Construction (EPC) contract for the Amaala...
- The contract, awarded by the consortium of Masdar and EDF, involves the establishment of renewable energy generation, power utilities, and water systems
- L&T, as the turnkey contractor, inked the EPC agreement with Amaala's developers, Masdar, and EDF, reports in Indian media said
Economy
Dubai real estate sales near record $109bn in 2023
Dubai, UAE - Dubai real estate annual sales comprising 127,000 deals have exceeded Dhs400 billion ($109 billion) during the current year...
- The momentum in the real estate market in the emirate will continue during the next year, according to Walid Al Zarooni, CEO of the W Capital.
- The residential real estate markets, Al Zarooni said, may remain at the investors radar during 2024 considering the latest trends in the market
Economy
Oman year-on-year growth rate touches 15.4 percent
Muscat, Oman - Oman's achieved a 15.4% year-on-year sector growth, as reported by the National Center for Statistics and Information...
- The growth revolves around a rapidly evolving landscape, propelled by strategic investments and diversification endeavors.
- Omani Maritime freight was at the forefront, commanding a significant 54.8% share of all inbound goods in 2022.
Saudi Chemical Co announces dividend
The company will distribute $11,385,120 to its shareholders.
- Shareholders possessing a portion of the 843,200,000 shares eligible for dividends will benefit from this payout
- Each share is set to receive a dividend of 0.05 SAR, which represents a 5% dividend relative to the share par value
Business
GIB, KSA wrap up Sukuk debut
Gulf International Bank is a merchant bank in the Middle East
- The bank’s Sukuk programme is aligned with its strategic objectives to facilitate balance sheet growth and contribute to the realization of the national economic objectives
- GIB Capital’s CEO Osamah Shaker said that the bank is delighted to act as the sole arranger for the establishment of the Sukuk Programme and the Bank’s debut issuance
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
Israeli ‘warning’ fire at diplomats sparks outcry amid Gaza pressure
EU foreign policy chief Kaja Kallas urged Israel to hold to account those responsible for the shooting near Jenin, a...
Geostrategy
Company News
Latest News
Saudi-US higher education partnerships forum launched
Riyadh, Saudi Arabia - Minister of Education Yousef bin Abdullah Al-Benyan alongside U.S. Ambassador to Saudi Arabia Michael Ratney, on...
Israeli football supporters back home after Amsterdam violence
Tel Aviv, Israel - A plane bringing Israeli football supporters home from Amsterdam landed at Israel's Ben Gurion airport on Friday after...
Riyadh Season 2024 signs sponsorship agreements with local, global partners
Riyadh, Saudi Arabia-- A signing ceremony for Riyadh Season 2024 sponsorships was held on Thursday at Via Riyadh. General Entertainment...
Business
Most Read
UAE to host 2025 Asia-Pacific amateur championship at Emirates Golf Club
Gotemba, Japan -- The Asia-Pacific Golf Confederation (APGC), the Masters Tournament and The R&A has announced that the 16th Asia-Pacific...
- Notable past competitors include Hideki Matsuyama, a two-time winner of the Asia-Pacific Amateur and the 2021 Masters champion, and Cameron Smith, champion of The 150th Open
- Designed by Karl Litten and established in 1988 as the first grass course in the Middle East, Emirates Golf Club’s Majlis Course is located south of downtown Dubai
Business
UAE backs Egypt’s Ras El Hekma megaproject, aims for $110 billion investment
Abu Dhabi, UAE - The UAE Ministry of Investment (MoI) announced today its support and key role in the advancement...
- Located approximately 350 kilometres northwest of Cairo, the Ras El Hekma project has garnered significant interest from Emirati investors
- Modon Holding, the master developer for the Ras El Hekma megaproject, will steer the project in partnership with prominent partners from Egypt
Saudi Arabia to host largest health event with global participation on Oct 21-23
Riyadh, Saudi Arabia – Saudi Arabia is preparing to host the seventh edition of the Global Health Forum under the...
- As one of the three most attended and fastest-growing health forums globally, the event will focus on raising health awareness and encouraging people to invest in their well-being
- Major investment launches and agreements are expected to be announced, with a dedicated exhibition showcasing individual and business health advancements