Trump, Iran president sign framework accord to end conflict, launch nuclear talks
The accord, signed electronically by both leaders, is intended to serve as a framework for a broader settlement rather than...
Geostrategy
Oil prices fall to lowest levels since March on Hormuz opening expactations
Questions over shipping fees, sanctions relief and regional security persisted even as negotiators prepared for a formal signing ceremony in...
Geostrategy
Business
Qatar records $222m in realty deals: Registration department
Doha, Qatar -- The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
- Total sales contracts for residential units in the Real Estate Bulletin for the same period were QR 19.38 million.
- Real estate properties traded for sale has included vacant lands, houses, residential buildings and commercial buildings.
Business
ACWA Power-led consortium signs deal for wind energy project
Cairo, Egypt -- The Egyptian government signed an agreement yesterday with a consortium led by the Saudi company ACWA Power...
- This wind energy production project in the Middle East in Egypt will be the largest in the Middle East.
- With investments reaching up to $1.5 billion, the project will be established in the Gulf of Suez and Jebel El-Zeit regions, boasting a capacity of 1.1 gigawatts.
Business
Borouge signs supply agreement
The two-year agreement is worth AED 160 million ($43.56 million).
- Under the two-year agreement, Borouge will provide advanced infrastructure solutions to NAFFCO for various infrastructure projects across the region.
- The Guggenheim Museum, the Riyadh city project, Mohamed bin Zayed City and the Yas Island Development Project are some of the projects.
Infographics
Saudi, UAE report highest levels of gross debt
Among the Arab countries, Egypt recorded the highest debt-to-GDP ratio of 92.7 percent while US and China are on an...
- Developing countries spent a record $443.5 billion to service their external public and publicly guaranteed debt in 2022, the World Bank said recently.
- The increase in costs shifted scarce resources away from critical needs such as health, education, and the environment.
Business
Five new residency programs to attract talent to Saudi Arabia
These residency products offer several benefits, including the ability to conduct business and invest in Saudi Arabia, own real estate,...
- Special Talent Residency: is focused on attracting healthcare professionals, scientists, and researchers with exceptional expertise and experience.
- Entrepreneur Residency is geared towards aspiring entrepreneurs and innovators eager to launch and grow their startups in the Kingdom.
Business
Mubadala lists dollar, dirham bonds
This is Mubadala's seventh listing of a green debt instrument on ADX.
- The listings on ADX included Mubadala’s highly oversubscribed debut Green Bond and Mubadala’s inaugural dirham-denominated bond.
- The listing of Mubadala’s green bond marks the seventh listing of a green debt instrument on ADX.
Business
Qatar sees 36.1 percent surge in visitor arrivals in Nov 2023
Doha, Qatar -- Qatar witnessed a 36.1 percent increase in the number of inbound visitors in November 2023, compared to...
- The highest number of visitors was from the Gulf Cooperation Council (GCC) at 46 percent.
- The total number of registered new vehicles during November 2023 has reached 8046 new vehicles.
Business
ADQ appoints new ADX chairman
The company also appointed two new Board directors.
- Ghannam Butti Al Mazrouei is the Secretary-General of the Emirati Talent Competitiveness Council, where he oversees an AED24bn program.
- Al Mazrouei also serves on the boards of Abu Dhabi Retirement Pensions and Benefit Fund and AafaQ Islamic Finance.
Business
Avalon sets sights on Tadawul listing
The firm will offer 6 million shares in its Initial Public Offering.
- The book-building process for Avalon Pharma's IPO will commence on January 14th and conclude on January 18th.
- In the event that there is sufficient demand by Individual Investors, the number of shares initially allocated to participating parties will be reduced to 5.4 million shares.
Business
Rules are fine but educate public about generative AI: Expert
Dubai, UAE -- Regulations alone will not safeguard the public against nefarious uses of Artificial Intelligence, people also need to...
- Investors, inventors and users of this technology need to take a lead in this task of educating the public, says Victor Riparbelli, CEO Synthesia.
- The companies providing AI technology must educate through exposure to positive use cases of AI as quickly as possible, he added.
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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
Trump, Iran president sign framework accord to end conflict, launch nuclear talks
The accord, signed electronically by both leaders, is intended to serve as a framework for a broader settlement rather than...
Geostrategy
Company News
Latest News
Iran escalation sharpens oil, inflation concerns
Lale Akoner, Global Market Analyst, says while the escalation has introduced new risks, the broader investment case for equities in...
Geostrategy
Traditional coffee roaster reflects Saudi heritage
The mahmas is typically made of thick iron or copper and consists of a hollow cylindrical disc with a long...
Arts & Culture
Six Ramadan initiatives launched in Asir region
Abha, Saudi Arabia — Six Ramadan community initiatives were launched in Al-Harjah Governorate in Saudi Arabia’s Asir region as part...
Geostrategy
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Economy
GCC agriculture sectors post strong 2024 performance
Muscat, Oman -- Gulf Cooperation Council countries recorded strong performance in agriculture, livestock and fisheries during 2024, reflecting the growing...
- Agricultural and fisheries exports rose to $7.8 billion, up 7.5 percent, while imports reached $38.7 billion, an increase of 10.1 percent.
- Vegetables accounted for 45.8 percent of total crop production, the largest share among plant products.
Geostrategy
Khalifa Education Award begins judging stage
Abu Dhabi, UAE — The General Secretariat of the Khalifa Award for Education, one of the institutions of the Zayed...
- This phase will be carried out through interviews conducted by specialized judging committees to review educational projects.
- The General Secretariat said the evaluation and judging phase aims to measure the actual impact of the submitted works.
Business
flydubai 2025 profit $591m
Total revenue increases by 6% to $3.7bn
- The carrier reported EBITDA of 4.0 billion dirhams ($1.1 billion) and closed the year with cash and bank balances of 5.6 billion dirhams ($1.5 billion).
- flydubai carried a record 15.7 million passengers in 2025, supported by strong demand for both leisure and business travel.