US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...
Business
Experts seek to legitimize AI mental health care
Researchers at Dartmouth College believe artificial intelligence can deliver reliable psychotherapy, distinguishing their work from the unproven and sometimes dubious...
Science
Arts & Culture
Two falcons sold for $41,067 at Saudi Falcons Club Auction
Riyadh, Saudi Arabia - Two falcons were sold for 154,000 Saudi Riyals ($41,067) amid a large turnout of falcon enthusiasts...
- The auction is held as part of the Saudi effort to promote the falconry heritage and support falcon breeders and enthusiasts in the Kingdom
- The auction also seeks to support falconry investment, develop falcon auctions, and regulate the buying and selling of falcons
Business
GFH Capital mulls listing on Saudi market, says CEO
RIYADH, SAUDI ARABIA - GFH Capital is considering the offering of its unit in Saudi Arabia on the Tadawul. GFH...
- The group is listed on the stock exchanges of Bahrain, Dubai, Abu Dhabi and Kuwait.
- The group is continuing with fulfilling the regulatory requirements prior to listing.
Economy
Saudi Arabia’s economy exceeds US$1trn mark
RIYADH, SAUDI ARABIA – The gross domestic product of the Kingdom exceeded US$1 trillion which displays strong progress towards meeting...
- This positive outcome is attributed to strong investment from the private and public sectors,
- Non-oil revenue growth, ongoing diversification, and economic resilience efforts has also helped.
Business
Mashreq’s net profit surges 122%
The Return on Equity also achieved a record high, reaching 32.1%.
- The ROE also achieved a record high, reaching 32.1% during the same period, doubling compared to the performance in the first nine months of 2022
- The bank's non-interest income reached $626 million, marking an 8.1% year-on-year growth in the first three quarters of 2023
Economy
UAE president discusses climate financing with World Bank chief
Abu Dhabi, UAE – The UAE president Sheikh Mohamed bin Zayed Al Nahyan Thursday discussed climate financing with the President of...
- The meeting also discussed global economic conditions, and the contributions of the World Bank in supporting regional and global development
- The UAE president highlighted the upcoming UN Climate Change Conference (COP28), which his country will host later this year
Economy
FII7 sees $17.9 billion in investments, summit on AI
Riyadh, Saudi Arabia – The three day 7th edition of the Future Investment Initiative (FII7) which ended on October 24...
- During a session, Goldman Sachs Economics forecasted that global investment in AI could reach $200 billion by 2025
- The event saw the partnership between the PIF and Pirelli, with plans to establish a tire manufacturing facility in Saudi Arabia
Geostrategy
Palestine’s Abbas expected in Moscow for talks with Putin soon: Russian diplomat
Moscow, Russia - Palestinian leader Mahmoud Abbas will soon visit Moscow for talks with Russian President Vladimir Putin, a senior...
- Kremlin Spokesman Dmitry Peskov refused to say exactly when Abbas would arrive
- He surmised that the two leaders would primarily discuss the situation in the Middle East
Business
The Arab Open Banking market to grow by 25% annually over next 5 years: report
Dubai, UAE - The Arab Open Banking is expected to experience 25% annual growth over the next five years, a...
- The Arab Monetary Fund will support Arab central banks in adopting effective frameworks for Open Banking and Finance initiatives
- The report covers aspects such as data sharing, consent mechanisms, data security, identification of regulated Third Party Providers
Netanyahu says Israel ‘preparing’ Gaza ground war
Thousands of Gazans are already believed to have died in Israel's aerial assault, with the toll expected to rise substantially...
- Facing ever-louder international calls to temper Israel's ferocious 19-day bombing campaign in the Hamas-controlled territory
- US President Joe Biden is among the foreign leaders stepping up public calls for Israel to "protect innocent civilians"
Geostrategy
Putin warns Israel-Hamas conflict could escalate beyond the Middle East
Moscow, Russia - Russian President Vladimir Putin warned on Wednesday that the Israel-Palestine conflict could potentially extend beyond the Middle...
- Russian leader expressed concern that unnamed forces aimed to exacerbate the situation and draw additional countries and people into the conflict
- He reiterated his country's support for a two-state solution to the Israeli-Palestinian issue, which he believed was the only way to achieve a long-term resolution
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
US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...
Business
Company News
Latest News
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
ahli islamic introduces Sharia-compliant Money Market Fund
MUSCAT, OMAN – As part of its investment solutions and Sharia-compliant products and services, ahli islamic, ahlibank’s Islamic banking window,...
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
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Business
EasyLease buys stake in United Trans
This helps EasyLease expand its presence in mobility sector.
- United Trans has been at the forefront of transforming the regional transport spectrum.
- The company collaborates with major global organizations across all modes of transport.
Business
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...
- The deal with Airbus was a strategic step for flynas, consolidating its position as a leading low-cost airline in the Middle East.
- The company is moving forward in its plan to double the fleet size after getting approval to purchase 250 aircraft.
Economy
SAMA: E-payments share reached 70% of total payments in 2023
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) announced on Monday that the share of retail consumer electronic payments...
- The achievement is attributed to the significant growth of payments processed through national payment systems in 2023
- The evolving cost-effective and reliable e-payment system helps enhance transaction efficiency, and support financial stability