UAE stocks see US$1.7bn inflow, IHC, Emaar lead
ABU DHABI, UAE- The UAE stock markets attracted liquidity of nearly AED6.5 billion during the week's trading, with the focus...
Business
Saudi Arabia offers 6 mining opportunities for local, international investors
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources on Wednesday announced six new mining opportunities for...
Economy
Economy
Africa’s exports expected to hit close to $1 trillion by 2035: Standard Chartered
Marrakesh, Morocco – Africa’s total exports will reach $952 billion by 2035 and the African Continental Free Trade Area (AfCFTA),...
- Rising regional trade levels and greater connectivity will unlock high‑growth corridors across Africa and beyond, the Stanchart report says
- The East Africa-South Asia corridor is expected to emerge as the fastest-growing major corridor, at 7.1 per cent per annum through to 2035, the report adds
Geostrategy
Visa-free Russia travel on the horizon for Saudi, Oman, Bahrain, Malaysia, Kuwait
Sochi, Russia -.Starting in 2024, travelers from Saudi Arabia, Oman, Kuwait, Malaysia and Bahrain may no longer need tourist visas...
- Russia and China have been ready to receive groups of visa-free tourists on a reciprocal basis
- Visa-free group tourism was also launched between Russia and Iran on August 1
Geostrategy
Saudi prince, Iran president hold call on Israel-Hamas war
Analysts say the war has dealt a heavy blow to a possible landmark normalisation deal between Saudi Arabia, home to...
- Prince Mohammed told Raisi that Riyadh is "communicating with all international and regional parties to stop the ongoing escalation", SPA said
- Iranian state news agency IRNA also reported on the call, saying the two men discussed the "need to end war crimes against Palestine"
Business
Zest Equity raises $3.8m seed round to digitize private market transactions
Abu Dhabi, UAE – Zest Equity, a venture-backed technology company offering digital infrastructure for private market transactions, has closed a...
- The Hub71 startup will use these funds to drive the company's ambition to expand its product offering in the MENA region
- Zest Equity has raised a total of $5.7 million with early backers including DFDF, 500 Sanabil, Nuwa Capital, and a significant group of regional angel investors
Arts & Culture
Mandoob shines light on Riyadh’s social transformation
The film is about an overworked delivery app driver in Riyadh, Fahad Nassir, who has taken a bold step into...
- The film is about an overworked delivery app driver in Riyadh, Fahad Nassir, who has taken a bold step into the world of bootlegging
- Mohammed Aldokhi, portraying Nassir, stars in Ali Kalthami's highly anticipated dark comedy feature debut, which explores the rarely seen ultra-modern Saudi nightlife
Business
Abu Dhabi’s Mubadala to invest $1 billion a year in Brazil
New York, United States - Mubadala Capital, the investment arm of Abu Dhabi’s sovereign wealth fund, plans to invest more...
- The firm’s second fund in the country, Brazil Special Opportunities Fund II (BSOF II), has raised over $710 million in commitments
- Mubadala Capital was the first sovereign wealth fund to manage capital on behalf of third-party institutional investors
Geostrategy
Hamas strike stuns, yet it’s important to remember backstory
Since 2008, Israel has conducted four major military operations in Gaza, resulting in significant casualties and widespread destruction.
- Since 2008, Israel has conducted four major military operations in Gaza, resulting in significant casualties and widespread destruction
- The 2008 assault raised international alarm as Israel was accused of using internationally banned weaponry, including phosphorus gas
Geostrategy
Israel-Hamas conflict sparks global economic anxiety
With potential spikes in oil prices and uncertainty surrounding major projects like the IMEC, the world faces a complex economic...
- With the world grappling with economic challenges, the sudden escalation in the Middle East threatens to send oil prices skyrocketing
- Recent reports suggested that Saudi leaders were considering boosting oil production to foster better relations with Israel
Business
Masdar to invest $8bn to develop Malaysia’s clean energy transition
Abu Dhabi, UAE - Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy powerhouse will invest US$8 billion in...
- The project will include ground mounted, rooftop and floating solar power plants, onshore wind farms and battery energy storage systems
- Established in 2006, Masdar is active in more than 40 countries with a total electricity generation capacity of more than 20GW
Geostrategy
Saudi Arabia launches mechanism to advance global climate goals
RIYADH, SAUDI ARABIA - The Clean Development Mechanism Designated National Authority (CDMDNA) announced on Monday the operation of Saudi Arabia's...
- Greenhouse Gas Crediting and Offsetting Mechanism will be accessible to all entities within the Kingdom.
- This step reflects the Kingdom’s role in addressing climate challenges and enabling institutions to tackle their emissions.
UAE stocks see US$1.7bn inflow, IHC, Emaar lead
ABU DHABI, UAE- The UAE stock markets attracted liquidity of nearly AED6.5 billion during the week's trading, with the focus...
Business
Company News
Latest News
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,...
Arts & Culture
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...
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...
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Business
35 Jordanian companies to participate in Gulfood 2024 in Dubai
AMMAN, JORDAN – A total of 35 Jordanian companies are taking part in Gulfood 2024, the world's largest annual food...
- The Jordan Exporters Association is coordinating the country's participation in the event.
- JEA is coordinating local participation in the exhibition for the 20th consecutive time.
Business
Abu Dhabi Judicial Department’s Auction App generated $925m in property sales
Abu Dhabi, UAE - Since its launch in June 2022 through mid-February 2024, the Abu Dhabi Judicial Department's (ADJD) Auction...
- The statistics highlight the growing popularity and effectiveness of the ADJD Auction App as a platform for buying and selling various assets remotely.
- Counselor Yousef Saeed Alabri, Undersecretary of the Judicial Department, said that the smart Auction App revolutionized the bidding process for seized property in judicial cases
Business
Extreme E races for electric SUVs 2024 kick off in Jeddah
Jeddah, Saudi Arabia - Organized by the Saudi Arabian Cycling Federation under the supervision of the Ministry of Sport, the...
- The fourth annual "Extreme E" all-electric sport-utility vehicle (SUV) off-road racing series will witness the participation of eight two-racer teams
- The first edition of this global competition was held in AlUla in 2021 and the 2022 and 2023 editions were held in NEOM