Trump Tower agreement announced in Jeddah following luxury hotel deal in Oman
A Trump Tower is coming to Saudi Arabia, a regional developer announced on Monday, Al Monitor reported. Dar Global and...
Business
The Middle East fastest growing Real-Time Payments market globally
For the second consecutive year, the Middle East is the fastest-growing real-time payments market globally, according to the 2024 Prime...
Economy
Business
Saudi Arabia tops world with export of dates worth $322bn
Saudi Arabia harbors more than 33 million palm trees planted in more than 123,000 agricultural properties in 13 administrative regions,
- According to a report by the Ministry of Environment, Water and Agriculture (MEWA), Saudi Arabia's dates exports amounted to $322 billion
- The kingdom produces nearly 154 million tons of dates annually
Business
Alhokair trims H1 loss by 49%
It cut down the loss to $18m from $35.39m posted last year.
- The hospitality group recorded a 6.4 percent rise in revenue to $93.66 million that helped bring down the group's loss
- Alhokair saw growth across its different units during the six-month period, recording higher revenue from the hotel and entertainment sectors
Business
Saudi review partnership with Bahrain in green sector
Bahrain targets zero neutrality by 2060 in the country.
- The Saudi delegation briefed Bahrain’s minister on the farming and environmental practices in Saudi Arab.
- Bahrain’s delegation highlighted their efforts in developing agriculture, expanding green area, afforestation
Business
Saudi Arabia, Malaysia discuss food security
Saudi Arabia and Malaysia discussed cooperation in food security and the promotion of the private sector to benefit from investment...
- Minister of Environment, Water and Agriculture Eng. Abdulrahman bin Abdulmohsen Al-Fadhli represented Saudi in meeting
- Al-Fadhli met with Malaysia’s Minister of Agriculture and Food Industries Ronald Kiandee in Riyadh to discuss cooperation
Business
Saudi Arabia imports more cars in H1 than in whole of last year
Saudi ports have witnessed a growth in car imports during the first quarter of 2022, amid an increase in cargo...
- The kingdom has imported 320,000 cars during the first half of 2022— equivalent to 57 percent of last year's total figure
- The cars were mostly imported from Japan, US, and South Korea, with Thailand, Germany, China, and India also playing a prominent role
Geostrategy
UAE, US discuss enhancing military, defence ties
Rear Admiral Pilot Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan, explored means of fostering relations in all fields with...
- Rear Admiral Pilot Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan, explored means of fostering relations in all fields with Vice Admiral Brad Cooper
- During the meeting, Rear Admiral Pilot Sheikh Saeed discussed the keenness to enhance ties with the US official across various domains
Economy
Saudi Fund to finance building of Cameroon hospital
The hospital will help tackle chronic disease and reduce mortality rates and also alleviate overcrowding in other hospitals of the...
- The agreement was signed by SFD CEO Sultan Al-Marshad, and the Cameroonian Minister of Economy, Planning, and Regional Development, Alamine Ousmane Mey
- The agreement will help to build and equip the hospital with 200 beds and develop specialized medical departments, centers, and buildings
Business
SALIC to set up storage center
Its CEO said the center will store imported edible oil.
- The announcement was made in a Saudi-Malaysian private sector meeting in Riyadh, which discussed areas of cooperation and investment opportunities
- The center, which will be constructed by the Public Investment Fund-owned firm, will serve as a distribution point for edible oils in the region
Geostrategy
Pakistan Prime Minister Shehbaz to visit UAE next month
This would be Shehbaz Sharif’s second visit to the UAE, but the first official visit since he assumed office.
- This would be Shehbaz Sharif’s second visit to the UAE, but the first official visit since he assumed office
- The visit will likely take place in the first week of September and the prime minister would head a high-level delegation
Business
UAE stock markets post gains of $2.26 billion on Friday
Dubai General Index (DFMGI) advanced 0.007 percent to 3,462.890 pts as blue-chip developer Emaar properties continued to hike, closing higher...
- Realty and banking blue chips accounted for the lion's share of transactions that amounted to more than 14,700 worth around $454 Million over 353.7 million shares
- Emirates NBD, Dubai Islamic Bank, and TECOM increased 1.84 percent, 0.84 percent and 0.41 percent respectively
Trump Tower agreement announced in Jeddah following luxury hotel deal in Oman
A Trump Tower is coming to Saudi Arabia, a regional developer announced on Monday, Al Monitor reported. Dar Global and...
Business
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Louvre Abu Dhabi displays new collection of artworks from across the world
ABU DHABI, UAE – The Louvre Abu Dhabi has displayed new acquisitions including three artworks by Pablo Picasso alongside loans...
Arts & Culture
DEWA given Net-Zero statement of verification for work on climate change
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received the net-zero statement of verification and assurance certificate in...
Business
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Business
Agthia Group launches Agthia Ventures
New firm is a $54 million corporate venture capital fund.
- Funded by Agthia and its parent company ADQ, Agthia Ventures will be managed together with Touchdown Ventures.
- Agthia Ventures will help entrepreneurs through access to the firm’s extensive industry knowledge, diverse distribution networks.
Business
UAE says 79,000 Emiratis working in private sector
DUBAI, UAE -Â Around 79,000 UAE nationals are working in the private sector, the Ministry of Human Resources and Emiratization...
- These figures mark a 57 percent increase compared to the end of 2022 figures, where 50,228 UAE nationals were employed in the private sector.
- Nearly 17,000 private sector firms employ UAE citizens as of July 7, which was the last day for companies to achieve their semi-annual Emiratisation targets.
Geostrategy
UAE opens field hospital in Chad to help Sudanese refugees
ABU DHABI, UAE - Â UAE Ambassador to the Republic of Chad Rashid Saeed Al Shamsi on Sunday opened a field...
- The hospital was opened in the presence of the Chadian Minister of Health and a number of Chadian government officials.
- Representatives of UAE entities supervising the implementation of the project, and the Emirati medical team were also present on the occasion.