Global rice output in 2024/25 likely to expand by 1.5%: FAO
Rome, Italy -- The Food and Agriculture Organization of the United Nations (FAO) released a new Cereal Supply and Demand...
Geostrategy
Morocco volunteers on Sahara clean-up mission as part Nomads Festival
M'HAMID EL GHIZLANE, Morocco - It may be the gateway to the vast Sahara desert, but that does not mean...
Economy
Geostrategy
GCC, Pakistan ink preliminary free trade agreement
RIYADH, SAUDI ARABIA - Secretary-General of the Gulf Cooperation Council (GCC) Jasem Mohamed AlBudaiwi said that preliminary free trade agreement...
- The agreement was signed by GCC Secretary-General Jasem Mohamed AlBudaiwi and Pakistani Commerce Minister Dr. Gohar Ejaz.
- The Secretary-General stressed that the GCC countries are proceeding with free-trade negotiations with other countries.
Business
UAE’s EDGE acquires 50 percent stake in Brazil’s SIATT
Sao Paulo, Brazil - The UAE’s EDGE Group, one of the leading advanced technology and defence groups, has announced the...
- Founded in 2015, and based in the city of São José dos Campos, SIATT specializes in the integration of systems with high technological content
- SIATT’s product portfolio includes intelligent weapons such as missiles and guided munitions, and their integration onto aircraft, naval vessels, tanks and other land vehicles
Geostrategy
US and India discuss India-Middle East-Europe Economic Corridor
Washington, United States - US Secretary of State Antony Blinken and India’s External Affairs Minister S Jaishankar held discussions in...
- The corridor comprises two separate routes: the East corridor connecting India to West Asia/Middle East and the Northern corridor connecting West Asia/Middle East to Europe
- A critical component of this initiative is a rail line that, upon completion, will establish a reliable and cost-effective cross-border ship-to-rail transit network
Business
Chinese high-end EV brand Zeekr to make Middle East debut
Dubai, UAE - Chinese luxury electric vehicle manufacturer Zeekr, a subsidiary of Geely, is set to make its debut in...
- Zeekr's expansion will begin in four Middle Eastern countries: Saudi Arabia, the United Arab Emirates, Qatar, and Bahrain
- Chen Yu, a Vice President at Zeekr, expressed the brand's intention to adopt a competitive pricing strategy targeting traditional premium car brands like BMW and Aud
Economy
Saudi Arabia eyes global EV role following Lucid’s plant setup
Riyadh, Saudi Arabia -- Saudi Arabia aims to become a global player in manufacturing electric vehicles (EVs) and related products,...
- “The EV industry is one of 12 strategic industrial sectors covered by the National Industrial Strategy to boost the growth of industry across the Kingdom,” the minister added
- Lucid Group’s choice of Saudi Arabia as the headquarters of its plant in the Middle East reflects the importance of kingdom’s unique geographical location, he added
Business
UAE, Egypt central banks ink currency swap deal
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) on Thursday...
- The CBUAE is keen to deepen its cooperation with the CBE to positively impact the trade and investment, said the Governor of UAE’s central bank.
- This step will bolster cooperation between the financial sectors in both the currencies, said the Governor of Egypt’s central bank.
AlUla to host first-ever Mideast Tough Mudder Infinity Challenge in February
AlUla, Saudi Arabia – The world's most popular obstacle-course racing challenge, Tough Mudder, announced the launch of a Tough Mudder...
- During the eight-hour race, participants must accomplish the largest number of laps around the Tough Mudder obstacle course.
- In conjunction with the Tough Mudder Infinity competition, 5km and 10km Tough Mudder competition will be held
Economy
Saudi Arabia raises the bar, says 100m tourist goal inadequate
Riyadh, Saudi Arabia - Saudi Arabia has announced its intention to revise its tourism goals, increasing the target number of...
- The previous target of 100 million visits is no longer sufficient, said Saudi minister Mahmoud Abdulhadi
- In the first quarter of 2023, Saudi Arabia attracted 7.8 million tourists, the highest quarterly performance in the country's history
Business
Lucid Group opens Saudi Arabia’s first-ever car manufacturing facility
Jeddah, Saudi Arabia - Lucid Group, which is partially owned by the Public Investment Fund, launched Wednesday its first international...
- The manufacturing unit extends over an area of about 31% of the total area allocated to the automotive industry in Jeddah's Special Economic Zone
- In May 2022, Lucid Motors signed a contract to begin construction of its factory in KAEC with a production capacity of 155,000 vehicles
Economy
Ras Al Khaimah’s first organic fertilizer project to cost $20m
Ras Al Khaimah, UAE - Ras Al Khaimah’s is building its first organic soil fertilizer project at a cost of...
- The company will also carry out research on the creation of unique methods of cultivating plants, medicinal and valuable fungi
- It will also be farming fruits, vegetables and berries, both indoors and outdoors, and conduct organic animal husbandry
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
Global rice output in 2024/25 likely to expand by 1.5%: FAO
Rome, Italy -- The Food and Agriculture Organization of the United Nations (FAO) released a new Cereal Supply and Demand...
Geostrategy
Company News
Latest News
Turkmenistan to supply 2bcm gas to Turkiye: Turkish minister
Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of...
Economy
Air traffic in Saudi Arabia surges 16 percent in 2023
Riyadh, Saudi Arabia - Saudi Arabia's aviation sector soared to new heights in 2023, with a significant increase in both...
Business
Israel out of Euro 2024 chase, Ukraine in dramatic fightback
Israel's hopes of reaching the European Championships for the first time against the background of bloody conflict at home were...
Most Read
Economy
NEOM announces Treyam, its premier lagoon destination
Neom, Saudi Arabia - NEOM, Saudi Arabia’s futuristic mega city will now have a premier resort where the spectacular desert...
- Boasting an audacious design with minimal land intervention, Treyam offers guests an elevated haven to unwind, re-energize, and enjoy majestic natural surroundings
- Strategically located across the opening of one of the most beautiful azure lagoons at the southern end of the Gulf of Aqaba, the resort stands as a luxury gateway
Borse Dubai to sell Nasdaq shares
The sale is poised to generate $1.59 billion.
- Borse Dubai is selling 27 million shares at $59 each in a secondary offering, a decision revealed in a stock exchange filing
- The offering also grants underwriters a 30-day option to acquire up to four million additional shares of Nasdaq
Economy
UK inflation slows to lowest level since September 2021
ONS chief economist Grant Fitzner said "food prices were the main driver of the fall, with prices almost unchanged this...
- Inflation reached 3.4 percent last month - the lowest level since September 2021 - after hitting 4.0 percent in January, according to the Office for National Statistics
- The BoE is widely expected to keep its main interest rate on hold in an announcement due Thursday following its latest regular monetary policy meeting