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
Geostrategy
Outrage, condemnation over deadly Gaza hospital strike as Russia, UAE call for UNSC meeting
The 57-member Organisation of Islamic Cooperation denounces Israel's backers for granting the country "impunity in its war in Gaza, taking...
- The OIC Secretary-General held the Israeli occupation fully responsible for the consequences of its "crimes" and "terrorist practices"
- GCC statement said that targeting the hospital is glaring evidence of the serious violations by the Israeli occupation forces who do not recognize international conventions
Business
Saudi Arabia launches bus transport project linking 200 cities
RIYADH, SAUDI ARABIA – The Kingdom’s Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser here launched a significant...
- The project will have a capacity to accommodate six million passengers annually.
- It will operate through three international alliances in three concession areas.
Economy
Jordan, Egypt foster economic policy collaboration with new MoU
Amman, Jordan - Jordan and Egypt have signed an MoU to foster cooperation in economic and development policy formulation, as...
- The MoU emphasizes the importance of coordination and the development of bilateral relations in technical cooperation between planning institutions in the two countries
- This encompasses the development of policies in the economic and development sectors, along with the mutual exchange of expertise, training, and capacity building
Business
MENA banking sector records 30% surge in net profits in H1 2023
Dubai, UAE - The Middle East and North Africa (MENA) banking sector has witnessed a remarkable 30% year-on-year increase in...
- Digital transformation is reshaping the sector, with a focus on AI, sustainable finance, and enhanced customer experiences
- The UAE's banking sector saw a remarkable 31% increase in net profits and total assets, driven by substantial investments in technology initiatives
Economy
UAE Minister Al Gergawi backs ‘curiosity’ and ‘equity’ at World Economic Forum
Dubai, United Arab Emirates – Considering opposing views, exchanging ideas and developing pathways for collaboration are essential to improving lives...
- UAE Minister of Cabinet Affairs Mohammad Abdullah Al Gergawi called for asking big questions to create a better future
- Panelists in the opening plenary made the case for connecting the dots across industries and disciplines
Geostrategy
Israel-Palestinian conflict: Chinese Foreign Minister to visit Middle East next week
Beijing, China - Chinese Foreign Minister Wang Yi is embarking on a visit to the Middle East next week, state...
- Wang Yi is expected to engage with various stakeholders, including Israeli and Palestinian officials, as well as regional partners
- The visit is aimed at promoting de-escalation, as well as strengthening coordination with all parties involved in the conflict
Business
Fourth edition of Riyadh Season unveils its promotional video
Riyadh, Saudi Arabia – 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
Dubai’s economy grows 3.2 percent in H1 2023
DUBAI, UAE – 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 Dubai’s 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
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
Debt, trade barriers drag Asian economies in 2024, says World Bank report
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
Economy
Saudi women’s unemployment drops to 13.7% by 4Q 2023
Riyadh, Saudi Arabia - The unemployment rate among Saudi women witnessed a historic decline, plummeting to 13.7 percent in the...
Economy
Rotana announces the soft opening of Dar Rayhaan in Saudi Arabia
Abu Dhabi, UAE – Rotana, one of the leading hotel management companies in the region with over 100 properties in...
Business
Most Read
Economy
Saudi tourism hits record $36 billion inbound spending in 2023
Riyadh, Saudi Arabia - Saudi Arabia's tourism sector contributed to a record-breaking $36 (SR135 billion) in spending by international visitors....
- The Kingdom's remarkable performance in tourism was further highlighted by its leading position in the United Nations Tourism rankings for growth in international tourist arrivals
- The UN's tourism report also noted a substantial rise in both inbound and domestic tourism within the Kingdom, reinforcing its reputation as a premier global tourism destination
Business
Digital transformation fuels GCC banks’ growth
The banking sector across the GCC has demonstrated formidable growth and profitability, with Qatar leading in several key performance indicators,...
- Notably, Qatar National Bank (QNB), the titan among GCC banks in terms of assets, received an uplift in its long-term credit rating from A to A+.
- The region has also seen a notable increase in profitability, with a significant double-digit rise of 23.1 percent, driven largely by growth in loan books.
Business
Sheikh Hamdan praises ADNOC’s efforts in using AI in production process
ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...
- Sheikh Hamdan toured key facilities and operations, learning about the company's efforts to leverage AI.
- Sheikh Hamdan emphasized on the importance of Emirati women's participation across various sectors.