AI talking trees feature at Chelsea Flower Show
London, United Kingdom -- Talking trees powered by AI, drought-resistant crops and sweet potatoes sprouting among flowers -- the prestigious...
Arts & Culture
Pope Leo XIV: Mild-mannered American with global view
The 69-year-old pontiff saw the challenges facing the worldwide Catholic Church up close in two decades as a missionary in...
Geostrategy
Business
Dubai Land Department calls for engaging accredited valuation offices
DUBAI, UAE – The Dubai Land Department (DLD) is committed to providing property owners with easily accessible resources to reinforce...
- The list of accredited valuation offices is available on DLD’s official website and the Dubai REST app.
- This will help ensure a fair and transparent approach concerning real estate assets and liabilities.
Geostrategy
Israeli bombing leaves Gaza with no safe zones, says Russia to UN
New York, USA - There are no safe zones left in Gaza amid Israeli strikes, Russian Permanent Representative to the...
- "(Israel’s) deliberate strikes on civilian facilities are a blatant violation of international humanitarian law," said Russian envoy to the UN.
- The Israel Defense Forces (IDF) meanwhile reported that the Israeli military has taken control of 11 military posts of the Palestinian group Hamas.
Economy
Oil prices edge up on Iraq’s backing for OPEC+ output cuts
New York, United States - Oil prices saw a modest 2% increase on Friday, boosted by Iraq's expressed support for...
- The market witnessed substantial short covering as the week unfolded, partly fueled by Iraq's commitment to OPEC+'s production level agreements
- Looking ahead, OPEC+ is scheduled to meet on November 26, where discussions on production levels and potential supply adjustments will take center stage
Business
Saudi EXIM Bank signs deals with African banks and institutions worth $185m
Riyadh, Saudi Arabia - Saudi EXIM Bank has signed multiple agreements and memoranda of understanding (MoUs) with African banks and...
- Saad Al-Khalb, the CEO of the Saudi EXIM Bank, signed Line of Credit agreements worth $185 million to finance Saudi exports of goods and services
- The agreements aim to support African economies, enhance trade and economic exchange between Saudi Arabia and African countries
Business
EDGE buys 50% stake in Flaris, marking strategic expansion into aviation technology
Abu Dhabi, UAE -- The UAE’s EDGE Group, one of the world’s leading advanced technology and defence groups, has announced...
- The two companies will also establish a joint venture, enabling EDGE to further develop Flaris’ portfolio of jets
- The innovations resulting from this joint venture will be showcased at the upcoming Dubai Airshow 2023
Business
TASI-listed firms report an aggregate net profit of $48.1bn in Q3
RIYADH, SAUDI ARABIA - Tadawul-listed companies reported a US$48.1 billion (SAR 157.09 billion) aggregate net profit for the third quarter...
- Sector-wise, the energy sector contributed the largest portion of the aggregate net profit of Saudi listed companies in Q3 2023.
- The banking sector accounted for 11.5 percent of the market’s aggregate profit, coming in second in terms of the most profitable sectors.
Economy
Dubai govt approves incentives to boost emirate’s economy
Dubai, UAE – Dubai government on Thursday approved several initiatives to stimulate the industrial sector in the emirate besides announcing...
- The initiatives to boost industrial sector is in line with the goals of the Dubai Economic Agenda D33 and aims to increase manufacturing value added (MAV) by 15.79 billion
- The Executive Council has extended its single-use bags reduction policy to encompass more plastic materials as part of the phasing out of single-use plastics by 2026
Geostrategy
US won’t hesitate to defend its troops in Middle East: Pentagon
Washington, United States - Over the last three weeks, Iran-backed militia groups have attacked US bases and facilities in Iraq...
- The department's commitment to Israel's right to defend itself from terrorism is "ironclad," and the department is working daily to help Israel do that, Stroul told lawmakers
- "We also placed over 2,000 personnel and a range of units on a heightened state of readiness, some of which [were] subsequently deployed," she said
Business
NEOM opens London office as base for UK and European business
London, United Kingdom – NEOM, the sustainable regional development taking shape in northwest Saudi Arabia, has opened its first international...
- The opening of the office is part of the NEOM’s effort to expand its international footprint
- As the first international office, the UK office will also serve as a base to support NEOM’s business across Europe
Business
ADIB issues green sukuk
The final orderbook of the green sukuk closed at $2.6 billion.
- The issuance was met with exceptional demand, attracting interest from over 100 global and regional investors.
- ADIB intends to allocate an amount equal to the net proceeds of this issuance to fund eligible green projects.
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
AI talking trees feature at Chelsea Flower Show
London, United Kingdom -- Talking trees powered by AI, drought-resistant crops and sweet potatoes sprouting among flowers -- the prestigious...
Arts & Culture
Company News
Latest News
Saudi Arabia partners with Microsoft Arabia for AI use in media
Riyadh, Saudi Arabia - The Ministry of Media and Microsoft Arabia signed a memorandum of understanding (MoU) in Riyadh on...
Business
SAMA Licenses ‘Hala Financing’ to provide crowdfunding solutions
Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) has licensed "Hala Financing" to provide debt-based crowdfunding solutions. With Hala...
Business
Saudi to bring in more tourists from the Caribbean with expanded eVisa program
Riyadh, Saudi Arabia – The Saudi Tourism Authority (STA), in collaboration with the Saudi Ministry of Tourism, has announced the expansion of...
Business
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Business
Ajman seeks strategic alliances at Arabian Travel Market 2024
Ajman, UAE - The Arabian Travel Market 2024 (ATM) kicks off in Ajman from May 6 to May 9, celebrating...
- Ajman has witnessed a significant surge in tourism, reflecting its growing appeal and popularity among domestic and international travelers
- International arrivals have seen a remarkable 29% increase in 2023 compared to 2022, with international visitors constituting 60% of Ajman's total arrivals
Saudi Arabia issues warning against fraudulent Hajj 2024 operators
Riyadh, Saudi Arabia - Saudi Arabia is warning potential Hajj pilgrims to be cautious of fake Hajj companies that may...
- The Ministry of Hajj and Umrah has advised individuals to use the Nusuk app for registration, which is available in several countries
- For those countries where the app is not available, the Ministry recommends registering through accredited companies
Economy
Despite sanctions, Iran oil exports hit six-year high: report
Tehran, Iran - Iran managed to sell an average of 1.56 million barrels per day during the first quarter of...
- The success in oil exports highlights the challenges faced by the US and EU in their efforts to exert pressure on Tehran
- Iran's Oil Minister Javad Owji stated that oil exports generated over $35 billion in revenue in the previous year