Travel and tourism sector contributes 11.4 percent to Gulf’s GDP
Muscat, Oman -- Travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent,...
Saudi Arabia’s travel account surplus reaches nearly $13.27bn
Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector achieved a record surplus in the 2024 travel account, reaching SAR49.8 billion...
Business
Arts & Culture
Saudi Arabia to host Under-21 World Snooker Championship in 2023
Riyadh, Saudi Arabia- --Saudi Arabia will host the World Under-21 Snooker Championship for men and women in July 2023, SPA...
- International Billiards and Snooker Federation has also agreed in principle to host the World Cup for Billiard and Snooker for men and women in Oct. 2024 for six balls and masters.
- Hosting the championship is the kingdom's one more step towards the development and promotion of the sports sector in its pursuit to achieve the Saudi Vision 2030 goals.
Business
PIF sells 10 percent stake in Tadawul Group at $51 per share
The offering size was SAR 2.3 billion ($611 million), making it the second largest Accelerated Bookbuild Offering to ever take...
- Last year, the PIF, which is led by the Crown Prince and Prime Minister Mohammed bin Salman, sold a 30 percent stake in Tadawul in a $1 billion IPO.
- This transaction is in line with PIF’s strategy to recycle the Fund’s capital and invest in emerging and promising sectors in the local economy, PIF said.
Geostrategy
Bahrain sees record voter turnout in general elections
Manama, Bahrain—At least 73 percent of voters have turned out to cast ballots in the 2022 Bahrain general election, the...
- The elections, according to Bahrain News Agency, went smoothly across the kingdom and the eligible voters used the right of franchise
- The minister said that the success of the record turnout was a culmination of the democratic progress led by His Majesty King Hamad bin Isa Al Khalifa since 2002
Geostrategy
Jordan King and UK PM meet to discuss strategic relations
London, UK— King Abdullah of Jordan and UK Prime Minister Rishi Sunak have met in London to discuss the development...
- The king expressed Jordan’s keenness to advance its friendly ties with the UK and bolster cooperation in the political, economic and defense fields
- He told the British PM that Jordan would continue to safeguard Islamic and Christian holy sites in Jerusalem under the Hashemite Custodianship
Economy
Saudi Arabia raising phosphate fertilisers production
The kingdom is among the world’s leading phosphate exporters, along with China, the US, Russia and Morocco.
- The kingdom is among the world’s leading phosphate exporters, along with China, the US, Russia and Morocco
- The oil-rich country plans to increase capacity by 50 percent to produce 9mn tonnes of phosphate fertilisers a year
Economy
Qatar and Kuwait renew pledge to help Afghanistan with aid
United Nations, US—Reiterating their pledge to continue providing aid to Afghanistan, Qatar and Kuwait have said they will continue to...
- Sheikha Alia Ahmed said that Qatar has made peace and development a priority of its post-war engagement in Afghanistan, particularly the issue of empowering women and girls
- Bader Al-Daihani said that Kuwait has provided $92 million in humanitarian aid to Afghans
Shamma bint Sultan becomes first person from Middle East to join CEMUNE
The CEMUNE works to foster deeper cooperation on key global challenges and has been recognised for contributing to regional and...
- The CEMUNE works to foster deeper cooperation on key global challenges and has been recognised for contributing to regional and international achievements in sustainability
- The UAE Special Envoy for Climate Change Dr Sultan bin Ahmed Al Jaber welcomed the collaboration between CEMUNE and UAE Independent Climate Change Accelerators
Business
Kuwait to develop 400 projects on Saji Island
Kuwait City, Kuwait—Kuwait will set up more than 400 local development project on Saji Island, according to the acting director...
- The Marina will allocate water taxis to transport visitors to and from the island from the city of Salmiya, as well as organize tours
- Adel Al-Hasawi said that the national fund, which is overseeing the project, is looking to attract a variety of businesses to the island
Arts & Culture
‘Culture is prerequisite for peace in the world’
A robust cultural and creative sector remains at the heart of the UAE’s growth strategy and to give it a...
- It is important to inculcate culture among our youth and allow them to explore creatively the bridging of their heritage with the opportunities of the future, says UAE minister
- A robust #cultural and #creative sector remains at the heart of the #UAE’s #growth strategy, highlights Noura bint Mohammed Al Kaabi at the fifth edition of the Paris Peace Forum
Paris Peace Forum: Queen Rania calls for paradigm shift in response to global crises
The Queen explained that the global refugee crisis has reached "epic proportions" with the number of displaced people around the...
- The Queen explained that the global refugee crisis has reached "epic proportions" with the number of displaced people around the world now exceeding 100 million
- Launched in 2018, the Paris Peace Forum convenes yearly with the aim of contributing to bridging the governance gap by bringing together multiple stakeholders
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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
Travel and tourism sector contributes 11.4 percent to Gulf’s GDP
Muscat, Oman -- Travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent,...
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Latest News
Israel must be held accountable for its actions, says Palestinian PM
DOHA, QATAR - Prime Minister of Palestine Mohammad Shtayyeh called for holding Israel accountable, imposing sanctions and not allowing it...
Geostrategy
Russia’s Putin offers assistance in Gaza Strip de-escalation
MOSCOW, RUSSIA - Russian President Vladimir Putin has offered assistance in helping to deescalate the tense situation in the Gaza...
Geostrategy
Joint ministerial committee meets US secretary of state
Washington, US – A committee of the Joint Arab-Islamic Extraordinary Summit under the chairmanship of Prince Faisal bin Farhan bin...
Geostrategy
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Business
Dubai faces warehouse shortage, says new report
DUBAI, UAE — The supply of under construction warehouse stock in Dubai’s industrial market stands at 1.56 million square feet according...
- The report says that demand is outstripping supply and occupiers are faced with the prospect of leasing more secondary stock.
- Across the six primary submarkets tracked by Knight Frank in Abu Dhabi, rents have remained unchanged thus far during H2.
Geostrategy
Arab world to be center for global change in 2024, says Russian intelligence chief
MOSCOW, RUSSIA - The chief of Russia’s foreign intelligence service, or SVR, believes the Arab world will take center stage...
- The Russian official said that the change has manifested itself in strong, sovereign leaders coming to power in a number of Arab countries.
- The rapid growth of anti-US and, more broadly, anti-Western sentiment in the region is one of the outcomes of this change, he said.
Business
Sidra Medicine, GlobeMed Qatar sign pact on medical services
DOHA, QATAR – Sidra Medicine and GlobeMed Qatar have signed an agreement to offer eligible insured members of payers contracted...
- The insured members contracted with GlobeMed Qatar will have access to Sidra Medicine’s women’s and pediatric medical services.
- This collaboration marks a significant step in offering insured members enriched healthcare experience in Qatar.