NEOM announces Aquellum as futuristic lifestyle community
NEOM, SAUDI ARABIA - The Board of Directors of NEOM has announced Aquellum, a luxury and experiential space embedded within...
Business
Israel is starving Gaza residents, says NGO
RAMALLAH, PALESTINIAN TERRITORIES - Everyone in Gaza is going hungry and about 2.2 million people are surviving day by day...
Geostrategy
Economy
Expat remittances from Saudi rise 5 percent to $3.91 bn in March
Personal remittances of expatriates in Saudi Arabia jumped 5 percent year-on-year (YoY) to SR14.7 billion ($3.91 billion) in March. Saudi...
- Saudi Arabia was the third largest source of remittances globally in 2020, just behind the UAE and the US, according to the World Bank.
- The US was the biggest source country, sending $68 billion abroad last year, while foreign workers in the UAE sent home $43 billion.
Business
Increase in Japan’s imports of UAE crude oil in March
This puts the UAE on the top of crude oil providers and at crucial importance for the Japanese energy needs.
- This puts the UAE on the top of crude oil providers and at crucial importance for the Japanese energy needs
- Japan's total oil imports in March amounted to 89.15 million barrels, compared to 78.51 million barrels in February
Business
VARA of Dubai to make entry into Metaverse through ‘Sandbox’
Dubai’s Virtual Assets Regulatory Authority (VARA) will enter into the Metaverse with the establishment of its Metaverse HQ in the...
- VARA is the world’s first regulator to make its debut in the Metaverse and seeks to ensure that the regulator is accessible to its industry
- It was established to provide a secure and progressive operating framework for the virtual asset (VA) sector to be able to scale
Arts & Culture
25 children’s authors from five continents to attend Sharjah festival
A group of 25 international children’s authors from five continents will be leading a cultural program at the 13th edition...
- Organized by Sharjah Book Authority (SBA), the annual festival for children and youth runs for 12 days this year and is themed ‘Create Creativity’. Â
- It will see the participation of 139 publishers from 12 nations. A host of popular artists and experts will lead 750 workshops and 130 art shows and performances.
Arts & Culture
Jeddah Season 2022 kicks off in Saudi Arabia
This year's Jeddah Season is expected to feature international events and artistic and theatrical performances, Arab and international art concerts,...
- Jeddah Season 2022 is expected to make Jeddah a permanent destination for tourism, entertainment, and events in the region
- The 60-day event will reportedly see 2,800 activities in nine main zones in the presence of Jeddah residents and visitors
Geostrategy
KSA not to be blamed for high US energy prices: Turki Al-Faisal
A former Saudi intelligence head has insisted that the kingdom should not be held responsible for the rising energy costs...
- Following the invasion of Ukraine, oil prices have dramatically surged in the market
- Amid the price hike, the Biden administration has been urging Saudi Arabia to increase its oil output, and it has placed a strain on the relationship between the two countries
Infographics
What are the GCC’s top stock exchange constituents?
What are the top constituents of stock exchanges spread across the GCC countries? Here’s our infographic.
- Some constituents — publicly traded companies — of the MSCI World Index would be heavier than others
- And countries within the Gulf Cooperation Council have some of the biggest public companies in the world
Business
Kuwait rebuilding five commercial license centers across country
Kuwait’s Ministry of Public Works has announced it will be re-building five commercial centers across the country. Local media reports,...
- Hawally Center, Khaitan Center, Mansouriya Center, Al-Dhahr Center and Al Ayoun Center are spread across different governorates.
- Each building consists of a basement, a ground floor, first and second floors, and the roof.
Economy
Outside help conditional on implementing reforms: Lebanon Deputy PM
Lebanese deputy prime minister Saadeh Al-Shami has said that during his meetings last week with World Bank and IMF officials,...
- Saadeh Al-Shami held meetings with IMF, World Bank and European Union officials last week.
- IMF director Kristalina Georgieva showed great interest in the Lebanese situation and her willingness to help Lebanon out of its severe crisis during her meeting with Al-Shami.
Economy
Suez Canal chief says April revenues hit all-time record
The unprecedented income came as the Suez Canal in March increased transit fees for ships passing through the waterway.
- The unprecedented income came as the Suez Canal in March increased transit fees for ships passing through the waterway.
- Adm. Ossama Rabei, head of the Suez Canal Authority, said in a statement that 1,929 vessels sailed through the Canal in April
NEOM announces Aquellum as futuristic lifestyle community
NEOM, SAUDI ARABIA - The Board of Directors of NEOM has announced Aquellum, a luxury and experiential space embedded within...
Business
Company News
e& posts 1.9% jump in profit
Business
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Kazakhstan eyes energy takeovers after blackouts, ‘mismanagement’
ALMATY, KAZAKHSTAN - Kazakhstan warned Monday it could nationalize struggling energy companies in the oil-rich Central Asian country after the...
Business
ADIB enables digital solutions to support UAE IPOs’ push
ABU DHABI, UAE - Abu Dhabi Islamic Bank (ADIB) announced that its retail customers were able to conveniently participate in...
Business
Third Saudi Cruise Season begins as MSC Splendida arrives in Yanbu Port
Riyadh, Saudi Arabia--- Yanbu Commercial Port has officially kickstarted the third edition of the Saudi cruise season by berthing MSC...
Business
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Arts & Culture
‘Dai Gallery’ for Arab artists kicks off in Cairo with Qatari participation
The month-long exhibition includes works by 142 Arab artists in photography, painting, sculpture, and graphics.
- The month-long exhibition includes works by 142 Arab artists in photography, painting, sculpture, and graphics
- A symposium on Arab plastic art will take place on the sidelines of the exhibition, with the participation of a group of artists and critics
Economy
Qatar’s records trade balance surplus of $6.8 billion in Oct 2022
Doha, Qatar---Qatar's merchandise trade balance recorded a surplus of QR 25.1 billion ($6.8 billion) in October this year, an increase...
- The trade balance, which is the difference between total exports and imports, however, decreased by 6 billion riyals, or 19.2 percent, compared to September 2022.
- Merchandise imports increased to about QR 12.9 billion, an increase of 45 percent compared to October 2021, and an increase of 14.3 percent compared to September.
Geostrategy
Tehran protests after US football body posts modified Iran flag
Iran has seen more than two months of demonstrations sparked by the death in custody of 22-year-old Kurdish-Iranian woman Mahsa...
- Iran will face the United States in their final Group B game on Tuesday, when a win would put them through to the last 16
- Iran's supreme leader Ayatollah Ali Khamenei said Saturday that negotiating with the United States would not put an end to the "troubles"