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
flynas receives 50th jetliner out of 120 Airbus A320neo ordered
RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the...
Business
Business
Miss Universe Bahrain and Pakistan promote halal and wellness tourism in Philippines
Dubai, UAE - : Recently crowned Miss Universe Queens Miss Universe Bahrain 2023 Lujane Yacoub and Miss Universe Pakistan 2023...
- The two Miss Universe queens arrived in Manila this weekend to collaborate with the Philippine Department of Tourism in promoting its ‘Halal and Wellness Tourism’ campaign
- With the Muslim travel market forecast to reach $225 billion by 2028, the Philippines’ government is trying to attract visitors from Muslim-majority countries
Geostrategy
Jazan City for Primary and Downstream Industries exports first shipment to US
JAZAN, SAUDI ARABIA - The Jazan City for Primary and Downstream Industries has marked a significant milestone with the departure...
- The ship is laden with 37,000 tons of iron steel foundry product, representing the first-ever production of this commodity within the Kingdom.
- The city's port has extensive capabilities and advanced logistical transportation services, making it a hub for trade exchanges in Saudi Arabia.
Business
Global energy demand to rise 25% by 2045: OPEC chief
Abu Dhabi, UAE - Global demand for all forms of energy is forecast to rise by 25% through 2045, according...
- No single energy source can meet the world's growing needs as the economy expands and the population increases, Al Ghais said
- He added that despite some setbacks, global growth continues, and he was optimistic about future oil demand
Business
Masdar enters Tajikistan market with plans to explore 500MW clean energy projects
Abu Dhabi, UAE - UAE’s clean energy powerhouse Masdar expands Central Asian presence with agreement to explore ground-mounted solar, onshore...
- MW Energy, a joint venture between Abu Dhabi Future Energy Company – Masdar and W Solar Investment, has signed an agreement with Tajikistan’s Ministry of Energy
- The collaboration will focus on the development of solar photovoltaic (PV), wind, and hydropower projects through a Public-Private Partnership (PPP)
Heeding ‘people’s call,’ Sisi announces run for third term
Cairo, Egypt - Egyptian President Abdel Fattah al-Sisi announced Monday his candidacy for a third term in office, ahead of December...
- State-aligned television showed thousands of people celebrating the announcement across the country
- A year after deposing Islamist president Mohamed Morsi, Sisi won 96 percent of the vote in 2014
Geostrategy
UAE President in Doha, attends opening of International Horticultural Expo 2023
Doha, Qatar -- UAE president Sheikh Mohamed bin Zayed Al Nahyan who is on a visit to Qatar attended the...
- Several heads of states and international delegations are attending the exhibition as it unfolds at Al Bidda Park from 2nd October 2023 to March 2024, spanning 179 days
- This event marks the first international horticultural exhibition hosted in a desert country and focuses on modern agriculture, technology and Innovation, and sustainability
Geostrategy
Dubai must possess its distinct emblem, says new decree
Dubai, UAE - Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued Law No....
- The law says emblem can be utilized across various government facilities, documents, websites, and during government events
- Private entities may also utilize it, provided they obtain prior approval from the Dubai Ruler or his representative
Economy
Bahrain’s Treasury Bills oversubscribed by 270 percent
MANAMA, BAHRAIN – This week’s US$186 million (BD 70 million) issue of Government Treasury Bills has been oversubscribed by 270...
- The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of Bahrain.
- The issue date of the Treasury Bills is October 4, 2023 and the maturity date is January 3, 2024.
Business
RSI buys stake in First Fix
The company acquires 51 percent stake in First Fix.
- The selling shareholders will receive a deferred sum of US$78.4 million upon the fulfilment of certain relevant conditions.
- Red Sea International will have the option to capitalize debt through the issuance of additional shares in First Fix.
Business
Saudi Arabia issues 162 licenses to companies relocating hqrs to the Kingdom
Riyadh, Saudi Arabia - Saudi Arabia has so far issued 162 regional center licenses to the companies relocating their headquarters...
- The headquarters will operate in strict accordance with Saudi laws, providing crucial support, management, and strategic direction to their branches
- The Ministry of Investment has enacted a mechanism to offer premium residency status to executives working within these regional headquarters
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
Company News
Latest News
Iran, Armenia eye $3 billion bilateral trade volume
Tehran, Iran – Deputy Prime Minister of Armenia Mher Grigoryan on Thursday said that Iran and Armenia have the potential...
Geostrategy
Israel faces fresh US calls against attack on Rafah
Palestinian Territories - Israel faced renewed calls from key ally the United States on Friday against launching a large-scale attack...
Geostrategy
Mawani completes Red Sea Gateway Terminal at Jeddah Islamic Port
Riyadh, Saudi Arabia - The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah...
Business
Most Read
Economy
Saudi Arabia set to establish more smart industrial zones
Riyadh, Saudi Arabia - Saudi Arabia will establish more smart industrial zones, Minister of Municipal and Rural Affairs and Housing,...
- Minister of Municipal and Rural Affairs and Housing, Majed Al-Hogail revealed this at the conclusion of the inaugural Global Smart City Forum 2024 here on Tuesday
- Minister of Industry and Mineral Resources Bandar Alkhorayef who also attended the Forum, stressed the industry and mining sectors' increasing demand for smart industrial cities
Economy
Saudi budget records $10 billion deficit in Q4 2023
Riyadh, Saudi Arabia - Saudi Arabia's general budget recorded a deficit of $9.86 billion in the fourth quarter of 2023,...
- The total revenues for the period amounted to $95.45 billion, while total expenses reached about $105.32 billion
- This reflects a slight increase in the deficit compared to the previous quarter, which stood at $9.54 billion
Economy
Saudi Arabia extends online services to help foreign firms set up regional hqrs in kingdom
Riyadh, Saudi Arabia - Saudi Arabia's Ministry of Commerce has announced the provision of online services for foreign companies looking...
- These services encompass issuing regional headquarters as a branch or as a new foreign company, in addition to issuing, amending, and renewing commercial registers
- The electronic services are accessible through the ministry's digital platform at e.mc.gov.sa and the Saudi Business Center's platform at business.sa