Archaeological sites discovered in Southern Saudi Arabia
ABHA, SAUDI ARABIA Â - The Heritage Commission announced its most prominent discovery in Jurash, Asir region, as one of the...
Arts & Culture
SCCI and Oman Chamber aim to boost investment cooperation
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Oman Chamber of Commerce and Industry (OCCI) discussed ways...
Business
Business
Inflation shoots up in Jordan to 4.22% in November
Amman, Jordan-- Jordan's inflation shot up 4.22%, reaching to 106.68 points during the period from January to the end of...
- The Department of Statistics noted that the overall consumer price index for November this year rose by 4.99%, reaching 108.19 points
- The American credit ratings giant Fitch Solutions said in May that it predicts inflation to rise to 3.6% this year
Business
Bank of China lists $300m bonds
The bank's Fitch A ratings bonds were listed on Nasdaq Dubai.
- The new listing highlights Nasdaq Dubai's significant role in strengthening links between the capital markets in Dubai and China.
- Bank of China's Dubai branch has issued the 2025-maturing bonds at a yield of 4.84 percent.
Economy
Saudi GDP surges 12.2% in Q2, surpassing estimate
The real gross domestic product (GDP) of Saudi Arabia has jumped 12.2 percent in the second quarter of 2022, exceeding...
- The oil economy grew 4.4 percent in the second quarter from the first quarter
- Non-oil activities rose by 8.2 percent on an annual basis and 4.5 percent from the first quarter
Geostrategy
Qatar to chair annual conference of AASGP in Cairo
Qatar will chair the 9th Annual Conference of the Arab Association of Secretaries General of Parliaments (AASGP), to be held...
- The conference will discuss several topics related to the role of the General Secretariat in supporting the legislative process, and ways to develop its work mechanisms
- It is scheduled to feature the 40th General Assembly meeting, and a workshop on the functions of the Secretary-General in the Arab countries
Business
KSA and Egypt champions to inaugurate Qatar’s World Cup final stadium
Qatar announced Monday that the club champions of Saudi Arabia and Egypt will inaugurate the Lusail stadium to be used...
- The 80,000 capacity gold coloured venue, in the Lusail new city just north of Doha, was the last of the eight World Cup stadiums to be completed
- A test event is to be staged there on August 11 when a Qatar championship match between Al-Arabi SC and Al-Rayyan is held
Business
Jarir reports drop in H1 profit
The profit declined to $114m with its stock sliding too.
- Consequently, its shares fell 2.78 percent to $39 on Sunday
- This decline was caused by a 5.5 percent drop in sales compared to the same period last year along with higher marketing and sales expenses
Business
UAE looks to boost economic partnership with Egypt, Jordan
The UAE wants to boost cooperation with Egypt and Jordan in the financial sector in order to achieve sustainable growth...
- The governors noted that their industrial partnership reflects a new phase of enhancing financial relations and contributes to achieving sustainable economic growth
- At the end of the meeting, Balama and Dr. Al Sharkas signed a Memorandum of Understanding (MoU) to enhance financial and banking co-operation
Business
Egypt looks to rake in $3.5bn in revenues from Suez Canal in H1
Egypt is expecting to rake in $3.5 billion in revenues from the Suez Canal during the first half of 2022,...
- Revenues from the canal have increased by around 23 percent in May 2022, compared to the year earlier, to reach $657 million
- Rabie attributed the high revenues to the growth of the global economy, the continued recovery of global trade, pricing policy and the Canal’s fee rise
Science
Saudi Cabinet endorses setting up of Health Holding Co.
Saudi Arabia's cabinet has endorsed the setting up of Health Holding Co. and charter of the National Health Insurance Center.
- The move is expected to boost community health, prevention and detection of diseases, and raising the level of quality and efficiency of services
- The decision will raise the effectiveness of the health system, Saudi Press Agency quoted the Kingdom’s health minister as saying
Geostrategy
Sanctions bore in on Russia over Ukraine invasion
On Friday, US President Joe Biden extended his country's measures against Russia to include sanctions on President Vladimir Putin and...
- The first tranche will hit four Russian banks, cut off more than half of Russia's technology imports, and target several oligarchs
- Energy giant Gazprom and 12 other major companies will be barred from raising capital in Western financial markets
Archaeological sites discovered in Southern Saudi Arabia
ABHA, SAUDI ARABIA Â - The Heritage Commission announced its most prominent discovery in Jurash, Asir region, as one of the...
Arts & Culture
Company News
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Hamriyah Freezone and Amazon UAE sign lease agreement for new logistics center
Sharjah, UAE--Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics centre which will...
Business
Bahrain’s SCE signs agreement with Foulath Holding Company
Manama, Bahrain--The Supreme Council for the Environment (SCE) signed a cooperation agreement with Foulath Holding Company to boost sustainable development...
Economy
Hamriyah Freezone Authority, Amazon UAE ink pact for logistics center
SHARJAH, UAE - Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics center...
Business
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Economy
Capital flows to emerging markets facing short-term headwinds: QNB
Doha, Qatar--Qatar National Bank (QNB) said that the global macro trends are starting to present short-term challenges to emerging markets...
- QNB said in its weekly analysis that after a span of positive inflow of capital to emerging markets touching US$50bn in January, the flow turned negative since August
- Indicators suggest below trend growth in the Euro area, China and several other EM and as a result the growth gap is expected to further widen in favour of the US versus EM
Geostrategy
UAE and Belgium urge accelerated efforts to ‘restore regional stability’
Abu Dhabi, UAE-- The UAE and Belgium have stressed the importance of coordinating regional and international efforts to protect civilians...
- The call for intensification of efforts to protect civilian lives came in a meeting between UAE's and Belgian foreign ministers in Abu Dhabi
- The two ministers touched on the fighting between Israel and Hamas and efforts to end extremism, violence, and deescalate tensions in the region
Business
Durar launches ‘MASA Residences’ in Ras Al Khaimah worth US$190.58m
RAS AL KHAIMAH -- Durar, a prominent UAE real estate developer, is set to launch MASA Residences, a luxury residential...
- Christie’s International Real Estate Ras Al Khaimah will exclusively handle sales and marketing for the development
- The project marks Durar's entrance into the UAE's northern Emirates and is poised to elevate Al Marjan Island's landscape