Saudi Arabia inaugurates its second “House of Culture”
As part of the “Quality of Life” program, these houses aim to upgrade cultural infrastructure and boost Saudi engagement in...
Arts & Culture
DWTC welcomes 2.47m visitors in 2023, says EVP
DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC) Mahir Julfar said that the DWTC's performance in 2023...
Business
Business
Pure Health to invest US$500m
It will buy stake in a US healthcare firm Ardent.
- Ardent Health Services is the fourth largest private hospital operator in the United States with operations across six states.
- Pure Health would receive board observer rights but would not have a seat on Ardent’s board of directors.
Economy
Saudi banks’ assets surpass UAE peers first time since 2007
Based on June data of Saudi and UAE central banks, the aggregate assets of Saudi banks (3.529.1 trillion) exceeded those...
- The Saudi banks’ assets broke the SAR 3 trillion-mark for the first time at the end of Feb 2021, the SAR 2 trillion-mark in Mar 2014 and the SAR 1 trillion-mark in Oct 2007.
- Saudi banks’ assets in June made up almost 135 of real gross domestic product (GDP) of SAR 2.614.7 trillion – their highest level ever.
Economy
Qatar Central Bank issues treasury bills valued $164m for Sept
Doha--Qatar Central Bank (QCB) has issued treasury bills for September 2022 for three, six and nine months, with a value...
- The duration of the bills is three, six and nine months with interest rates ranging between 1.09 percent and 2.22 percent.
- This issuance came as part of the Qatar Central Bank's monetary policy initiatives and its efforts to strengthen the financial system.
Geostrategy
Blinken welcomes appointment of new UN envoy to Libya
US Secretary of State Antony Blinken has welcomed the appointment by UN Secretary-General Antonio Guterres of Abdoulaye Bathily as Special...
- Blinken took to Twiiter to say that US supported efforts to mediate an agreement in order to establish a constitutional framework and timeline for elections in Libya
- The Security Council on Friday approved former Senegalese minister and U.N. diplomat Abdoulaye Bathily as the new U.N. envoy to Libya, ending a nine-month vacancy
Business
ADX partners with FTSE Russell
The two have co-developed the FTSE ADX Growth Market Index.
- The launch of FADGMI is a result of ADX’s successful partnership with FTSE Russell and closely follows the launch in March of the FTSE ADX 15 Index (FADX15)
- The ADX Growth Market, the new brand of the Second Market, is an emerging equity segment on the exchange that connects investors and privately owned businesses
Economy
Bahrain launches multi-entry e-visa for training purposes
Bahrain has launched a multi-entry e-visa for training purposes, allowing a holder to stay in the kingdom for six months.
- The Nationality, Passports and Residence Affairs (NPRA) said the visa is part of the 24 initiatives to enhance the NPRA services and the economic recovery plan
- The visa could be applied for on www.evisa.gov.bh for a fee of BD60
Business
Saudi import of plastic products climbs 18% to 456,000 tons
The import of plastic products into Saudi Arabia has shot up 18 percent to 456,000 tons in the second quarter...
- According to the General Authority for Statistics, the increase in imports was fueled by a 45 percent yearly rise in imports from China
- The total plastic and rubber imports grew 19 percent to $1.89 billion in the second quarter of 2022
Geostrategy
Lebanon arrests five agents suspected of killing Syrian detainee
Shocked at the death of a Syrian detainee in custody of security officials, Lebanon has arrested five State Security agents...
- The State Security agents arrested Bashar Abdel Saud on August 31 and took him to an agency facility in Bint Jbeil in southern Lebanon for questioning with other detainees
- According to a source the agents wanted to extract a confession from the deceased suspect that he was a member of the Islamic State though he continued to deny the allegation
Economy
Broad money supply in Qatar reaches US$185.4bn in July
Social Security statements reached QR 78 million in July 2022, for 14,495 beneficiaries, recording a monthly decrease of 0.2% for...
- General index of the Qatar Stock Exchange increased in July 2022 at a monthly rate of 9.7% compared to June 2022.
- Cash equivalents; including Commercial Bank Deposits, attained for approx. QR 965 billion ($265bn) during July 2022.
Economy
Clean energy is key for Indonesian economy, says IEA
Indonesia has a viable path to reaching its target of net zero emissions by 2060, bringing major benefits to its...
- Key policy reforms and international support will be crucial to the success of the clean energy transition in the world’s fourth most populous country.
- The clean energy transition offers huge opportunities for the next chapter of Indonesia’s development as it seeks to become an advanced economy by 2045.
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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
Saudi Arabia inaugurates its second “House of Culture”
As part of the “Quality of Life” program, these houses aim to upgrade cultural infrastructure and boost Saudi engagement in...
Arts & Culture
Company News
dnata begins building warehouse
Business
Latest News
Arab-Indian Chamber of Commerce to be unveiled soon
NEW DELHI, INDIA - A Joint Arab-Indian Chamber of Commerce is to be “activated” soon. This was announced in the...
Business
Saudi Arabia’s PIF sets up Sawani Company for camel dairy industry
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced the establishment of Sawani Company to enable the growth of...
Business
Most Read
Geostrategy
Japanese PM discusses clean energy cooperation with UAE ahead of COP28
As the UAE prepares to host COP28, Japan aims to offer its green and renewable energy technologies to support the...
- Japan aims to offer green and renewable energy technologies to assist Gulf states' decarbonisation efforts
- The UAE-Japan Business Forum witnesses signing of 23 cooperation agreements and MoUs in various sectors
Business
ADNOC L&S buys VLCC
Firm has committed $2 billion for more such carriers.
- The very large crude carrier is a four dual-fuel engine ship – which can also run on liquefied natural gas.
- The carriers, which can carry up to 2 million barrels of crude per voyage, were built in South Korea.
Geostrategy
Saudi Arabia, Japan issue joint statement on Lighthouse Initiative for Clean Energy Cooperation
RIYADH, SAUDI ARABIA – Saudi Arabia and Japan issued a joint statement on Lighthouse Initiative for Clean Energy Cooperation. The...
- Recognizing net-zero and clean energy ambitions, both sides decided to establish the KSA-Japan Lighthouse Initiative for Clean Energy Cooperation.
- The initiative will serve as a beacon for other countries and regions as they develop their strategies and roadmaps toward their net zero ambitions.