Jordanian industrialists call for export diversification
AMMAN, JORDAN ā Jordanian industrialists have emphasized the imperative of strategic planning to bolster export diversification, underlining key measures such...
Business
ahli islamic introduces Sharia-compliant Money Market Fund
MUSCAT, OMAN ā As part of its investment solutions and Sharia-compliant products and services, ahli islamic, ahlibankās Islamic banking window,...
Business
Business
Fourth edition of Riyadh Season unveils its promotional video
Riyadh, Saudi Arabia ā Riyadh Season's fourth edition has unveiled a promotional video featuring a range of scenes highlighting its...
- The video includes the presence of the global boxing icon Mike Tyson, who is a partner in the first specialized boxing club in Boulevard City
- It highlights the rapid developments in the entertainment sector in the Kingdom, the global nature of Riyadh Season, and the diversity of the activities and events it hosts
Economy
Dubaiās economy grows 3.2 percent in H1 2023
DUBAI, UAE ā The Emirate's economy grew 3.2 percent in H1 2023 to reach US$60.9 billion (AED223.8 billion). The performance...
- Trade activities achieved an added value of US$14.5 billion in H1 2023, growing by 1.7 percent compared to the same period in 2022.
- Trade activities are vital for Dubaiās economy and for the wider region, as they effectively contribute to sustainability and economic prosperity.
Geostrategy
Saudi Arabia puts normalization talks with Israel on hold: reports
Riyadh, Saudi Arabia - Saudi Arabia has reportedly decided to suspend peace talks with Israel and the United States, Bloomberg...
- Although the talks have not been terminated, they are temporarily frozen until the violence in the region subsides, reports said
- Saudi Arabia's Crown Prince and Prime Minister Mohammed bin Salman, also engaged in a conversation with Iran's president this week
Economy
Gold prices soar over 3% amid escalating Middle East conflict
Dubai, UAE - Gold prices surged over 3% on Friday, heading for their most robust weekly performance in seven months,...
- Investors closely monitored the intensifying conflict in the Middle East, which has been unsettling markets
- Meanwhile, spot silver saw a 4% rise to $22.72 per ounce, marking its first weekly gain in three weeks
Business
Smart and Autonomous Vehicles Industries cluster launches at Masdar City
Abu Dhabi, UAE - A Smart and Autonomous Vehicles Industries (SAVI) cluster was launched at Masdar City on Friday. It...
- SAVI will support innovation and the commercialization of smart and autonomous vehicle technologies in the UAE
- The Abu Dhabi Department of Economic Development (ADDED) and Abu Dhabi Investment Office (ADIO) are spearheading the development of SAVI
Ayodhya mosque design in India altered to resemble Middle East
Lucknow, India - The Indo-Islamic Cultural Foundation announced a change in the design of the mosque to be constructed on...
- The new design, prepared by a Pune-based architect, was finalized during a meeting in Mumbai
- The mosque will be larger than the previous plan and will be capable of accommodating over 5,000 people upon completion
Economy
Non-cash transactions in Egypt set to reach $16.34 billion in 2023
Cairo, Egypt - The Egyptian market is projected to reach an impressive $16.34 billion in non-cash transactions in 2023, while...
- The report suggests that the global growth will continue to accelerate, potentially reaching 2.3 trillion transactions by 2027, with an annual growth rate of 15%
- In Egypt, digital payments are also on the rise, with a predicted annual growth rate of 14.03% from 2023 to 2027
Business
UAE sourced 30% of its gems and jewelry imports from India
Dubai, UAE - The gem and jewelry trade between India and the United Arab Emirates (UAE) has seen substantial growth,...
- The UAE's jewelry imports from India amount to $3.12 billion out of the total $10.48 billion from various parts of the world
- The revelation was made during his address at the third edition of the International Gem and Jewelry Show in Dubai
Geostrategy
UAE president delays state visit to Korea amid Middle East conflict
Seoul, South Korea - UAE President Mohammed bin Zayed Al Nahyan has delayed his planned state visit to South Korea...
- The delay in the visit comes amid rising tensions in the Middle East following a surprise attack by the Hamas militant group on Israel
- UAE Presidentās visit to South Korea would have marked a historic occasion as the first state visit to Seoul by a UAE president.
Geostrategy
Rockets fired at Tel Aviv after Israeli strikes on Gaza ‘civilians’: Hamas
"The occupation (Israeli forces) committed massacres this morning in Al-Shati camp and Jabalia camp, leaving dozens of martyrs and injured,"...
- AFP correspondents witnessed dozens of air strikes over 30 minutes on Thursday morning in the direction of Al-Shati camp and in the blockaded strip's north
- Around another 1,200 people have been killed in the Palestinian coastal enclave in Israeli air strikes, according to Hamas officials
Jordanian industrialists call for export diversification
AMMAN, JORDAN ā Jordanian industrialists have emphasized the imperative of strategic planning to bolster export diversification, underlining key measures such...
Business
Company News
Latest News
Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023
DUBAI, UAE ā President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...
Business
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...
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...
Business
Most Read
Saudi retail is 23% of non-oil GDP, expected to grow to $122.6bn in 2024
Riyadh, Saudi Arabia - Saudi Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail said on Monday that the...
- Saudi Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail emphasized the crucial role of the retail sector as a major economic driver
- He expressed optimism that discussions at the summit would contribute to the sector's development and overall service enhancement
Domestic Haj pilgrims in Saudi Arabia guaranteed compensation for lodging issues
Riyadh, Saudi Arabia - Saudi Arabia has announced that domestic pilgrims will be eligible for compensation in the event of...
- According to the Ministry of Hajj and Umrah, pilgrims will receive a 10 percent refund of their package value if there is a delay of more than two hours in obtaining accommodation
- In cases where the service provider fails to deliver the promised accommodation, the ministry will oversee housing arrangements, and the associated costs
Saudi stock market hits 12,500 points, highest since August 2020
Riyadh, Saudi Arabia - The Saudi Stock Market's general index (TASI) surged past the 12,500-point milestone on Sunday, reaching its...
- The increase can be attributed to the positive momentum generated by the disclosure of financial results, the majority of which met anticipated outcomes
- The gains in the Agriculture & Food, Building & Construction and Hotels & Tourism sectors also led shares higher