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
Borouge proposes share buyback
The company had posted a 24% YoY increase in net profit to $1.24bn.
Business
Business
CITC unveils initiatives, launches at Digital Technology Forum 2022
The company also announced the winning products of the Co-Innovation Award, the launch of the first Local Technology Guide in...
- The company also announced the winning products of the Co-Innovation Award, the launch of the first Local Technology Guide in the Middle East and North Africa
- It also issued the first Local Technology Products Guide in the MENA to facilitate access to local products developed by IT and emerging technologies companies
Geostrategy
Iran signs contract with Russia to supply it with 40 turbines
Tehran, Iran— Iran announced Sunday a contract with Russia to supply it with 40 turbines to help its gas industry amid...
- Iran did not specify when the contract was signed, and when the turbines are due to be delivered
- Russia and Iran hold some of the world's largest gas reserves, and are both under strict US sanctions
Business
Qatar throws open new hotels, resorts to host football fans
Doha, Qatar— Qatar Tourism has thrown open more than 20 hotels, resorts and new tourist destinations in the country ahead...
- The projects and tourist attractions will be ready to receive football fans from next month
- New attractions include entertainment venues, seaside and beach clubs, arts and culture houses, shopping malls, and the new Qatar 2022 hotels and resorts
Economy
Qatar’s General Tax Authority launches digital tax stamp
The authority said that digital tax stamps are distinctive marks in the form of a physical label or digital code...
- The authority said that digital tax stamps are distinctive marks in the form of a physical label or digital code containing encrypted data
- The digital tax stamp on goods will enable monitoring and tracking of the movements of these goods within the Qatari market
Geostrategy
Arab League welcomes UN report on Israeli conduct in Palestinian territories
Welcoming the report brought out by the UN Independent International Commission of Inquiry, the Arab League has praised the efforts...
- The report documented in detail Israeli policies and procedures that form crimes as per the International Criminal Law
- The Arab League said the contents of the report are an important addition to the series of positions and reports issued by the UN and human rights international institutions
Business
QatarEnergy partners with Shell in North Field South expansion project
The agreement gives Shell an effective net participating stake of 9.375 percent in the NFS project, out of a 25...
- The agreement gives Shell an effective net participating stake of 9.375 percent in the NFS project, out of a 25 percent interest available for international partners
- The North Field Expansion Project, comprising NFS and the North Field East (NFE) expansion projects, is the industry's largest-ever LNG project
Interview
Private sector plays key role in FIFA Cup projects
There is a need for concerted efforts by citizens and residents to make this global event a success, Sheikh Khalifa...
- Qatar has become a leading global investment destination, says Qatar Chamber Chairman Sheikh Khalifa bin Jassim bin Mohammed Al-Thani
- The World Cup Qatar 2022 will leave a unique imprint in the history of the FIFA World Cup, he says, adding that Qatari economy is expected to grow by 4.9%
Geostrategy
DTC Abu Dhabi-UNESCO study on pandemic impact ‘useful’ in plugging gaps
Abu Dhabi, UAE - The Culture Summit Abu Dhabi began in the UAE capital with discussions on the impact of...
- Noura bint Mohammed Al Kaabi, Minister of Culture and Youth, said, “If an issue happens in Brazil or Iraq or Syria, it affects us as well."
- The Culture Summit brings together the public, private, government and academic sector to find such practical policies on the ground.
Economy
UAE Minister highlights youth’s role in sustainable food systems
DUBAI, UAE - UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri participated in the World Food...
- The Minister held meetings with several high-level FAO officials on the UAE’s contribution in tackling global food and nutrition insecurity.
- The event drew governments, youth champions, global influencers and non-profit organizations to support youth-led transformation of agrifood systems.
Business
Saudi Arabia is spending big on golf and transforming the sport forever
Since June 2022, when the first Liv Golf tournament funded by Public Investment Fund was played, nine golfers in the...
- American stars Bryson DeChambeau, Dustin Johnson and Phil Mickelson each reportedly received more than $100m to defect to LIV Golf.
- The first LIV Golf Invitational Series event started on 9 June 2022 at the Centurion Club near London, England. The Invitational Series is to become the LIV Golf League in 2023.
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
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
Company News
Sukoon Insurance sets up OIWSS
Business
Latest News
Caspian Sea water levels hit 30-year low
Geostrategy
Ma’aden, BADC ink agreement
Business
Saudi delegation takes part in Riyadh Expo 2030 symposium in Paris
PARIS, FRANCE - A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the...
Business
BCCI yet to hear officially about Saudi interest for stakes in IPL
NEW DELHI, INDIA - Recent reports of Saudi Arabia expressing an interest in buying a stake in the Indian Premier League...
Business
Most Read
Business
Emaar 9M net profit $1.1bn
This is due to the successful launches of new projects.
- Emaar Development’s property sales increased by 25 percent, reaching US$7.9 billion in the first nine months of 2023.
- In the first nine months of 2023 (January to September), Emaar Development reported an EBITDA of US$1.2 billion.
Business
Al Ansari 9M profit US$105m
The operating income of the group rose to US$234 million.
- Al Ansari received shareholders’ approval for the proposed interim dividend payment of $81 million.
- The second payment of the dividend of an equivalent amount will be disbursed in April 2024.
Economy
Saudi Arabia’s Industrial Production Index falls 11.2% in September
RIYADH, SAUDI ARABIA – The Kingdom of Saudi Arabia’s Industrial Production Index (IPI) fell by 11.2 percent year-on-year (YoY) in...
- The IPI measures the relative change and reflects the production quantities of materials and goods.
- Data issued by the General Authority for Statistics showed that Saudi IPI fell to 122.99 points in September.