Layali Diriyah: Blending scents of history, culture, global flavors
Riyadh, Saudi Arabia - Surrounded by the natural emblem of palm trees, Layali Diriyah during Ramadan radiates a distinctive ambiance,...
Business
Israel announces ground operations, issues ‘last warning’ to Gazans to remove Hamas from power
Israeli forces this week conducted the deadliest wave of air strikes since the start of a truce in January, killing...
Geostrategy
Economy
Turkey’s inflation nears 60%, piling pressure on new team
campaign pledges and a massive reconstruction effort launched after a major earthquake claimed more than 50,000 lives in Turkey's southeast....
- The state statistic agency said prices rose by 58.9 percent over 12 months ending in August compared to 47.8 percent in July
- The latests data will test the limits of how much leeway Erdogan's new market-friendly team has to raise borrowing costs
Economy
Middle East needs ‘New Deal’ to deliver for its 600 million people: IMF officials
Dubai, UAE - Middle East needs a ‘New Deal’ to deliver for its 600 million people more jobs, better education,...
- MENA countries are urged to move away from state-dominated economic activities, particularly those with high debt burdens and youth unemployment rates
- Governments are advised to improve digital infrastructure, enhance digital literacy, and develop workforce skills to promote digital adoption
Business
Italy’s Eni plans to invest $7.7 bn in Egypt
Cairo, Egypt - Italian energy giant Eni has revealed plans to invest $7.7 billion in Egypt's energy sector over the...
- The company in collaboration with its partners, intends to channel these investments into various projects within the country
- Eni is an integrated energy company that has presence in 69 countries around the world, including Algeria, Angola, Mexico, Indonesia and Italy
Science
Research finds link in the brain to explain obesity
Washington, US - A new scientific research has identified the link between memory and appetite in the human brain to...
- The research shows that individuals with obesity have poor connections between the dorsolateral hippocampus (dlHPC) and the lateral hypothalamus (LH)
- The dlHPC is located in the 'memory process' region of the brain, and the LH is in the region of the brain called 'homeostasis'
Geostrategy
GCC Secretary General praises DCO role in digital transformation of Saudi economy
RIYADH, SAUDI ARABIA – Secretary General of the Gulf Cooperation Council (GCC)Jassem Mohamed Albudaiwi visited the Digital Cooperation Organization (DCO)...
- DCO plays an important role in e-development and helps in enabling countries to keep pace with the rapid growth of the digital economy.
- The GCC Secretary General stressed on the importance of digital cooperation between the regional organization and the DCO.
Business
Leather, knitwear industries contribute 2.4% to GDP, says JCI
AMMAN, JORDAN - Representative of the leather industries and knitting sector at Jordan Chamber of Industry (JCI), Ehab Qadri, said...
- The sector's exports achieved a "remarkable" growth during the past year by nearly 21 percent, reaching $2.3 billion, compared to 2021.
- The sector, as per data from Social Security Corporation, employs around 76, 000 workers, constituting 27 percent of the total workforce.
Science
UAE astronaut Al Neyadi’s return to earth delayed
Dubai, UAE - UAE Astronaut Sultan Al Neyadi's return journey from the International Space Station (ISS) has encountered a delay...
- NASA and the Mohammed Bin Rashid Space Centre (MBRSC) now anticipate Al Neyadi's return to Earth on September 4, contingent upon improved weather conditions
- Sultan Al Neyadi will be joined by his fellow Crew-6 members, including NASA astronauts Stephen Bowen and Woody Hoburg, as well as Russian cosmonaut Andrey Fedyaev
Science
From the Moon to the Sun: India launches next space mission
Sriharikota, India - The latest mission in India's ambitious space programme blasted off Saturday on a voyage towards the centre of...
- Aditya-L1 launched shortly before midday, with a live broadcast showing hundreds of spectators cheering wildly against the deafening noise of the rocket's ascent
- The United States and the European Space Agency (ESA) have sent numerous probes to the centre of the solar system, beginning with NASA's Pioneer programme in the 1960s
Economy
Iran reports 15% surge in gasoline output
Tehran, Iran - Iran has reported a 15% surge in its gasoline output this year compared to last year. The...
- The Persian Gulf Star Oil Refinery is supplying 4 million liters per day of gasoline derivatives to other refineries to help meet the rising demand
- Iran's daily average demand for gasoline exceeds 120 million liters, and on peak travel days, consumption reaches nearly 150 million liters
Economy
Qatari economy records 2.7% growth in Q1 2023
Doha, Qatar – The Qatari economy has reported a growth rate of 2.7 percent during the first quarter of 2023...
- When compared to the revised estimates for the fourth quarter of 2022, which were $48.61 billion, there was a 3.9 percent decrease in the GDP
- The nominal gross value added tax estimates for mining and quarrying activities at current prices in the first quarter of 2023 reached $22.09 billion
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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
Layali Diriyah: Blending scents of history, culture, global flavors
Riyadh, Saudi Arabia - Surrounded by the natural emblem of palm trees, Layali Diriyah during Ramadan radiates a distinctive ambiance,...
Business
Company News
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Israeli forces kill Jordanian in West Bank, says Palestinian ministry
A Jordanian citizen has died after being shot by Israeli forces in the West Bank, Palestinian authorities said, with the...
Geostrategy
Baghdad, Tehran in talks to import gas from Turkmenistan
Tehran, Iran - Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan, with...
Economy
$2bn earmarked for Saudi real estate by Muslim global HWNIs
Riyadh, Saudi Arabia - Muslim global high net worth individuals (HNWI) are prepared to spend US$ 1.96 billion on real...
Economy
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Business
UAE’s e-commerce sector projected to earn $9bn revenue in 2024
Dubai, UAE - The UAE's online shopping market is gearing up for unprecedented growth, with revenue projections hitting $9 billion...
- One of the key drivers of this expansion is the emerging trend of "metaverse e-commerce," a segment anticipated to experience a 37% growth from 2024 to 2030
- The top performers in 2023 were Toys, DIY, and hobbies, leading with 29% market share, closely followed by fashion at 27%
Economy
Residential demand buoyed Qatar’s property sector in 2023
Doha, Qatar - Residential demand continued to buoy the country's property sector in Q4 2023, hapondo, a homegrown property portal,...
- The report pointed out that despite a decrease in real estate transaction volume to $4.6 billion from $5.82 billion, apartments remained popular for investment
- Key residential highlights included the Marina District in Lusail, while The Pearl remained the most sought-after location for apartment seekers
Business
China Eastern Airlines to operate three weekly fights between Shanghai and Riyadh
Riyadh, Saudi Arabia - The Saudi Air Connectivity Program (ACP) and China Eastern Airlines have entered into a strategic partnership...
- The new route is set to operate with an A330-200 aircraft, offering an annual capacity of 35,880 inbound seats
- Both parties anticipate increased trade, people-to-people exchanges, and dialogues across various sectors through this 'Air Silk Road' initiative