Air Arabia Egypt marks its first flight to Istanbul
CAIRO, Egypt – Air Arabia Egypt on Sunday commenced its first non-stop flight from Cairo International Airport to Sabiha Gökçen...
Business
Saudi Arabia offers 50% discount on accumulated traffic fines before April 18
Riyadh, Saudi Arabia - The Saudi Ministry of Interior has announced a significant measure aimed at reducing the burden of...
Economy
Business
Saudi Central Bank to collaborate with monetary authority of Singapore in fintech
Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) signed an agreement with the Monetary Authority of Singapore (MAS) on...
- The agreement seeks to facilitate activities of both organizations in international markets
- It will also provide a framework for cooperation between their innovation departments
Geostrategy
US orders 2,000 more troops to be ready to deploy to Middle East: report
Washington, United States - The US Defense Secretary Lloyd J. Austin III has ordered the preparation of approximately 2,000 additional...
- These troops, currently stationed in the United States and Europe, may not serve in combat roles but would offer advice and medical support to Israeli forces
- While the final decision on deployment has not been made, increasing the troops' readiness enhances the Pentagon’s ability to respond swiftly to the evolving security situation
Business
ADNOC Gas inks $500-700m LNG supply pact with JERA Global Markets
Abu Dhabi, UAE - ADNOC Gas on Wednesday announced a multi-year liquified natural gas (LNG) supply agreement, valued between $500...
- This agreement builds on the long-standing relationship between the UAE and Japan and reinforces ADNOC Gas’ position as a global LNG export partner of choice
- ADNOC’s LNG production facilities on Das Island supplied LNG to the Tokyo Electric Power Company, one of the parent companies of JERA Co, for over 40 years
Economy
China economy growth slowed in third-quarter but beat forecasts
Last year, the economy grew three percent, far from the official target of 5.5 percent, and one of the slowest...
- The 4.9 percent expansion in July-September was helped by forecast-beating retail sales figures and follows a series of broadly positive readings
- But authorities are still on edge over turmoil in the real-estate sector, which has long accounted for a quarter of the country's gross domestic product
Geostrategy
Outrage, condemnation over deadly Gaza hospital strike as Russia, UAE call for UNSC meeting
The 57-member Organisation of Islamic Cooperation denounces Israel's backers for granting the country "impunity in its war in Gaza, taking...
- Â The OIC Secretary-General held the Israeli occupation fully responsible for the consequences of its "crimes" and "terrorist practices"
- GCC statement said that targeting the hospital is glaring evidence of the serious violations by the Israeli occupation forces who do not recognize international conventions
Business
Saudi Arabia launches bus transport project linking 200 cities
RIYADH, SAUDI ARABIA – The Kingdom’s Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser here launched a significant...
- The project will have a capacity to accommodate six million passengers annually.
- It will operate through three international alliances in three concession areas.
Economy
Jordan, Egypt foster economic policy collaboration with new MoU
Amman, Jordan - Jordan and Egypt have signed an MoU to foster cooperation in economic and development policy formulation, as...
- The MoU emphasizes the importance of coordination and the development of bilateral relations in technical cooperation between planning institutions in the two countries
- This encompasses the development of policies in the economic and development sectors, along with the mutual exchange of expertise, training, and capacity building
Business
MENA banking sector records 30% surge in net profits in H1 2023
Dubai, UAE - The Middle East and North Africa (MENA) banking sector has witnessed a remarkable 30% year-on-year increase in...
- Digital transformation is reshaping the sector, with a focus on AI, sustainable finance, and enhanced customer experiences
- The UAE's banking sector saw a remarkable 31% increase in net profits and total assets, driven by substantial investments in technology initiatives
Economy
UAE Minister Al Gergawi backs ‘curiosity’ and ‘equity’ at World Economic Forum
Dubai, United Arab Emirates – Considering opposing views, exchanging ideas and developing pathways for collaboration are essential to improving lives...
- UAE Minister of Cabinet Affairs Mohammad Abdullah Al Gergawi called for asking big questions to create a better future
- Panelists in the opening plenary made the case for connecting the dots across industries and disciplines
Geostrategy
Israel-Palestinian conflict: Chinese Foreign Minister to visit Middle East next week
Beijing, China - Chinese Foreign Minister Wang Yi is embarking on a visit to the Middle East next week, state...
- Wang Yi is expected to engage with various stakeholders, including Israeli and Palestinian officials, as well as regional partners
- The visit is aimed at promoting de-escalation, as well as strengthening coordination with all parties involved in the conflict
Air Arabia Egypt marks its first flight to Istanbul
CAIRO, Egypt – Air Arabia Egypt on Sunday commenced its first non-stop flight from Cairo International Airport to Sabiha Gökçen...
Business
Company News
AD Ports Group, KPT ink pact
Business
Latest News
Saudi media ministry and Google join forces for digital transformation
Riyadh, Saudi Arabia - Saudi Ministry of Media and Google have joined forces in a strategic collaboration aimed at driving...
Business
Saudi foreign minister seeks G20 action on Gaza
Rio de Janeiro, Brazil - Saudi Foreign Minister Prince Faisal bin Farhan called on G20 nations to apply pressure for...
Geostrategy
Saudi Arabia’s trade surplus remains stable at $26bn
Riyadh, Saudi Arabia - Saudi Arabia's trade surplus remained stable at SR97 billion ($25.8 billion) in the fourth quarter of...
Economy
Most Read
MENA print media revenues fell 30% from 2018 to 2022: survey
The report stresses the urgent need for MENA news organizations to overhaul business models, adopt digital strategies, and diversify content...
- The analysis also forecasts a compound annual growth rate (CAGR) of -4% up to 2027, which could cause total MENA revenues to fall even further to US$1.2 billion
- The figures also show that while digital advertising revenues are slowly increasing at a rate of 1% per year, print advertising revenues are set to slump by 11.3% by 2027
Business
Saudi tech firm Alat to ally with Softbank, Carrier Corp, Tahakoum, Dahua Tech
Riyadh, Saudi Arabia - Alat Company, a subsidiary of the Saudi Public Investment Fund (PIF), has announced four global partnerships...
- Amit Midha, global CEO of Alat, said the goal is to aid partner companies in reducing emissions and transitioning towards carbon-neutral production
- Midha emphasized Alat's commitment to leveraging clean energy sources such as solar, wind, and green hydrogen integrating sustainability measures across operations
Arts & Culture
Saudi film industry gets boost with $100m investment fund
Riyadh, Saudi Arabia -The Middle East Financial Investment Company (MEFIC Capital) has unveiled the establishment of the Saudi Film Fund,...
- The strategic fund is an outcome of an agreement involving the Cultural Development Fund, MEFIC Capital, and Roaa Media Ventures
- The Saudi film production market has experienced impressive growth, boasting an annual growth rate exceeding 25%