Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...
Economy
UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn
Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...
Business
Business
GCC needs US$60-85bn for sustainable waste management: study
It will take $60-85 billion for the GCC to put in place a modern recycling system for waste management, according...
- This investment would cover design, collection, sorting, and recycling investment across these four key waste streams
- The GCC generates between 105 and 130 million tons of waste per annum, primarily from Municipal Solid Waste (MSW), Construction and Demolition Waste (CDW), and agricultural waste
Business
Qatar ports TEU records one percent growth in September
Doha, Qatar - The Qatar Ports Management Company (Mwani Qatar) said it received 123,000 TEUs in September- a one percent...
- Mwani Qatar stated it received 276 ships in September, registering a three percent increase.
- It said cars and equipment recorded 6048 units, and the number of livestock recorded was 6499.
Infographics
Qatar wealthiest, UAE happiest in Arab world
The world's richest countries have the highest happiness scores, which probably explains why Lebanon, facing its worst-ever economic crisis, ranks...
- The World Happiness Report 2022 has ranked Finland as the happiest and Afghanistan as the unhappiest in the world.
- Happiness has now become a key metric to track the performance of countries and corporate offices as well.
Geostrategy
IMF, GCC agree Middle East reforms dialogue must continue: Georgieva
At the end of her two-day visit to Saudi Arabia, she hailed the kingdom's strong “economic performance and impressive progress...
- Georgieva also hailed the kingdom’s role in supporting countries in the region and “vulnerable countries more broadly that have been impacted by multiple shocks.
- The IMF chief said she held "inspiring discussions with impressive Saudi women who have played a leading role in reducing inequalities and supporting Saudi's economic growth".
Geostrategy
UAE takes part in G20 Finance Track in Indonesia
UAE's Ministry of Finance (MoF) participated in the third Framework Working Group (FWG) meeting within the G20 Finance Track for...
- The meeting was held in Indonesia and sought to discuss key global economic issues.
- G20 members, invited non-G20 member countries, representatives of the World Bank, IMF, and OECD also attended the meeting.
Economy
UAE Ministry of Emiratization launches Customer First forum
UAE Ministry of Human Resources and Emiratization has launched the Customer First Forum, comprising virtual sessions on a weekly basis...
- The Customer First Forum aims to take feedback of all parties on the labor market legislations.
- It also seeks to enhance direct communications between the ministry and the private sector.
Business
DP World launches GBC to support growth plans of large companies
Dubai, UAE--- DP World has launched the Global Business Corporation (GBC), a new strategic arm focused on supporting large companies...
- The GBC can provide business set-up and licensing -or large companies that wish to set up a limited liability entity or branch in Dubai.
- A GBC licence permits a foreign or domestic corporate group to own and operate a business management entity, allowing them to build a wide range of functional expertise.
Economy
Number of visitors to Qatar rise by 138.3% in August
The highest number of visitors was from the GCC countries at 59 percent.
- The highest number of visitors was from the GCC countries at 59 percent
- As for visitors by type of port, the visitors via Air make up the highest percentage
Business
Tadawul market cap vaults
Its value is $2.8trn in the first nine months of the year.
- The boost in the value of the exchange is despite the total value of shares traded during the first nine months falling by 21.5 percent from the previous year to $373.33 billion
- The highest close level for the index during the period was 13,820.35 points on May 8
Business
SAFEEN, Amaan Baghdad sign MoU
The agreement relates to fuel oil transport and storage.
- SAFEEN Feeders, a subsidiary of SAFEEN Group, will manage the entire project, providing three Very Large Crude Carriers (VLCCs) and one Medium Range (MR) tanker.
- SAFEEN Feeders will transport fuel oil from terminals in Port of Khor Al Zubair and Umm Qasr South Port to Iraqi territorial waters using the MR tanker.
Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...
Economy
Company News
ECI, KazakhExport ink MoU
Business
Latest News
Russia ready to discuss Turkey’s idea about guarantors for Israel, Palestine, says Lavrov
PYONGYANG, NORTH KOREA - Russia is ready to discuss and consider Turkey’s initiative to establish a guarantor system in the...
Geostrategy
Saudi Metrology Organization, Enterprise Singapore ink MoU on standardization
RIYADH, SAUDI ARABIA – The Saudi Standards, Metrology and Quality Organization (SASO) and Enterprise Singapore signed an MoU here, focusing...
Business
Neighboring nations fear repercussions of Gaza conflict
As Israel advises around 1.1 million residents of northern Gaza Strip to evacuate, concerns grow about the potential ripple effects...
Geostrategy
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Business
Modon inks 2 MoUs with Saudi Exports, Local Content Authority
RIYADH, SAUDI ARABIA - The Saudi Authority for Industrial Cities and Technology Zones (Modon) has signed two memorandums of understanding...
- The MoU with the development authority entails exchange of expertise in industrial cities management and provision of logistic services and solutions.
- Modon’s MoU with LCGPA aims to achieve integration of local content in industrial cities, exchange experience and practices in institutional innovation.
Business
Archer to launch its all-electric air taxi service across UAE
ABU DHABI, UAE - Archer Aviation on Tuesday announced that it has entered into an agreement with Abu Dhabi Investment...
- ADIO plans to support Archer in establishing its first international headquarters and manufacturing facilities in the SAVI Cluster in Abu Dhabi.
- Archer’s Center of Excellence will focus on developing and implementing next-generation aviation technologies.
Business
Red Sea Global builds largest off-grid EV charging network in Saudi Arabia
RIYADH, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, Amaala...
- The network includes more than 150 charging stations spread across phase one of The Red Sea destination area.
- The stations are placed to keep RSG’s initial fleet of 80 electric Lucid and Mercedes vehicles charged and on the road.