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
Israel will ‘take control of all’ of Gaza, says Netanyahu as WHO warns of famine risk
After more than two months of a total blockade, the World Health Organization issued a stark warning on the humanitarian...
Geostrategy
Business
Riyadh Season draws 9 million visitors to its entertainment zones
Riyadh, Saudi Arabia - The number of visitors to Riyadh Season has surged to over 9 million, indicating a significant...
- Riyadh Season, marked by the slogan "Big Time," completed the spectrum of entertainment choices with top-tier events and festivals across various zones
- Boulevard City zone emerged as a site filled with entertainment options, along with Boulevard World which features a variety of international cultures
SEWA seeks to enhance cooperation with Siemens Energy
Sharjah, UAE -- Sharjah Electricity, Water and Gas Authority (SEWA), has decided to enhance cooperation with Siemens Energy.in developing energy...
- Heads of both the companies on Sunday discussed the latest developments in the energy sector
- SEWA commited to cooperate with all local and international bodies to apply the latest technologies and digital transformation
Business
PIF sets up agri and ecotourism firm Dan Company
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced on Monday the establishment of Dan Company, specializing in agritourism...
- The company plans to develop unique tourism projects around cities across Saudi Arabia with attractive natural and farmed landscapes.
- Dan aims to involve local communities in imparting experience that enables visitors to fully interact with Saudi regional culture and traditions.
Business
EasyLease buys 60% stake in Fully Charged
Fully Charged has expertise in EV charging technology.
- The move marks a significant step for EasyLease, reinforcing its presence in the sustainable mobility sector and establishing a role in the industry's development
- A suite of services, covering home charger installations, corporate charging solutions, and reliable ongoing support, has been instrumental in the success of Fully Charged
Economy
Oil prices up on Saudi, Russia push for output reduction
Riyadh, Saudi Arabia - Collaboration between Saudi Arabia and Russia to drive OPEC+ members toward output cuts has resulted in...
- The OPEC agreement entails a substantial 2.2 million barrels per day reduction for the first quarter of next year
- Despite these global efforts, US output continued at a high of over 13 million barrels per day, contributing to a surplus in the market
Business
DP World, Zee Entertainment rope in David Warner for ILT20 Season 2 marketing campaign
Dubai, UAE - Australian cricket star David Warner along with Indian top Indian cricketer Harbhajan Singh will lead the marketing campaign...
- Warner is set to make his DP World ILT20 debut in Season 2, the southpaw will appear for the Dubai Capitals
- The 34-match tournament will be played at the three cricketing destinations – Abu Dhabi, Dubai and Sharjah
Geostrategy
Iran foreign minister, Hamas chief discuss Gaza developments
Tehran, Iran - Iranian Foreign Minister Hossein Amir-Abdollahian held a phone conversation with Hamas chief Ismail Haniyeh on Friday night...
- During the call, Amir-Abdollahian praised the invocation of Article 99 of the UN Charter by the United Nations Secretary-General Antonio Guterres
- Iranian top diplomat told the Hamas chief that the crisis in Gaza had been a central feature of discussions between Iranian President and his Russian counterpart Putin
Business
Nasdaq faces $4m penalty for alleged Iran sanctions violations
New York, United States - Nasdaq Inc., headquartered in New York, has agreed to pay a $4 million settlement to...
- The violations stemmed from services provided by Nasdaq OMX Armenia to Iran and Iran's state-owned Bank Mellat
- Office of Foreign Assets Control noted that the settlement amount reflects their assessment that Nasdaq's actions were non-egregious
Economy
Iran, Oman call for using national currencies in mutual trade
Tehran, Iran – Iran and Oman have signed two memoranda of understanding to boost bilateral cooperation and using their national...
- The Iranian industry minister also announced his country’s readiness to jointly implement key industrial projects with Oman
- Head of the Central Bank of Iran Mohammad-Reza Farzin hailed any measure that helps boost monetary cooperation between the two countries
Business
Chinese firm announces $5bn investment in solar power chain in UAE
Dubai, UAE - Trina Solar, a Chinese renewable energy company, announced on Thursday plans to invest US$5 billion to create...
- Katherine Gao, Trina Solar CEO, described COP28 as an inspiring platform for leading companies to showcase their smart solutions in the fields of renewable energy
- The event, she added, provides an opportunity to exchange solutions with industry leaders and governments to integrate environmental practices across the supply chain
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
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
Company News
Latest News
AI adoption in GCC surges as governments and the private sector embrace technology
With 93% of Saudi workers considering generative AI essential, alongside 95% in the Middle East and 79% globally, the region's...
Domestic worker visa applications in UAE up 66% in June 2024, says a report
The UAE, relying on domestic workers (5% of the population), invests $3 billion annually, highlighting the rising demand for domestic...
Economy
UAE launches national strategy to combat money laundering, terror financing
The strategy focuses on risk-based compliance, international cooperation, effective supervision, and disrupting illicit financial activities through improved data collection, analysis,...
Economy
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Business
Dubai real estate sales hit record $13.6bn in July, growth eases
Dubai, UAE - Dubai's real estate market reached a new peak in July, with sales hitting an all-time high of...
- Apartment sales, which accounted for nearly 45% of all transactions, surged by 62% year-on-year, with approximately 70% of these being off-plan sales
- The villa segment also saw a shift towards the off-plan market in the past two months, resulting in a 9.9% year-on-year growth overall
Economy
Disparities in climate action risk worsening global economic inequality, warns new report
Geneva, Switzerland – A recent report by the World Economic Forum (WEF) highlights the growing concern that unequal access to...
- The WEF’s research reveals that disparities in access to green financing pose the greatest risk to economic equity across various sectors
- The findings underline the need for a fair distribution of the costs and benefits of climate action among workers, consumers, and businesses
Economy
Saudi Arabia reforms investment law, simplifies process and investor protection to achieve $100 bn FDI target
The law will ensure equal treatment between domestic and foreign investors, protecting intellectual property and promoting fair competition in line...
- The updated investment law, approved by the Council of Ministers on Sunday, seeks to level the playing field for both domestic and international investors
- It guarantees the rule of law, fair treatment, and the freedom to transfer funds without delay, among other protections