Saudi Arabia raises US$11bn syndicated loan to fund deficit
RIYADH, SAUDI ARABIA - Saudi Arabia raised a syndicated loan of US$11 billion (SAR 41.25 billion) to fund a budget...
Business
Geostrategy
Jordan to receive $1.65bn in US aid in 2022
Jordan has seen several factors affect its economy, such as the conditions brought on by the Covid-19 and the Syrian...
- The US Congress has approved a new aid package for Jordan for 2022, estimated at $1.65 billion
- The aid is expected to support Jordan’s development and reform programs during 2022
Business
Governor chairs meeting to turn Makkah into a smart region
The meeting was attended by the Minister of Communications and Information Technology Abdullah Al-Sawaha, as well as the heads of...
- During the meeting, the governor was reportedly briefed on the work carried out by the Ministry of Communications to contribute to the transformation
- Chief of these is the development of digital infrastructure, as the number of 5G towers reached around 4,000, and the average speed reached 155 Mbps
Business
Egypt nixes reports that Suez Canal traffic is falling
The key trading link is setting new records, said the government, quoting the Suez Canal Authority.
- About 10 percent of global trade, including 7 percent of the world’s oil, flows through the Suez Canal
- First opened in 1869, the canal is a source of national pride and foreign currency to Egypt
Business
QFD unveils Morocco housing
The residential complex is located in Bir Al-Souk in Morocco.
- The residential complex is expected to have 12 buildings consisting of three floors and a basement
- Each floor contains four apartments, with each apartment having an area of 72 square meters
Business
Saudi Arabia to grant licenses to renewable energy facilities
Saudi Arabia will grant industrial licenses to facilities operating in the renewable energy sector and power plants in order to...
- The Ministry of Industry and Mineral Resources and the Ministry of Energy have partnered with the Non-Oil Revenues Development Center to grant the licenses
- The Ministry of Industry and Mineral Resources also provides many incentives and benefits to investors in the sector
Business
Qatar may dislodge Russia to be Germany’s energy supplier
In order to lower its dependence on Russian oil and gas, Germany is looking toward Qatar to fulfill its energy...
- Germany is to close its last nuclear power plants this year and plans to build its first liquefied natural gas terminal within two years
- Qatar is one of the countries that recently have been approached by the US to reroute gas supplies to Europe
Business
Social media poses ‘existential threat’ to traditional, trustworthy news: UNESCO
The business model of the news media is ‘broken’ and with it, our fundamental right to information is at risk,...
- The UNESCO analysed media development trends from 2016 to 2021 and found that global newspaper advertising revenue has fallen by half during the five year period
- The report indicates that news outlets often struggle to get clicks from readers that determine advertising revenue, and many find themselves “squeezed out”
Business
Abu Dhabi launches ‘Abu Dhabi Express’ bus service
The Abu Dhabi Express is a direct, non-stop bus service, making its routes the quickest means of transport, enabling passengers...
- The Abu Dhabi Express is a direct, non-stop bus service, making its routes the quickest means of transport, enabling passengers to get to their destinations
- The Abu Dhabi Express services will all use the main bus station in Abu Dhabi city as an arrival point
Business
UAE and New Zealand to collaborate in food security
The UAE and New Zealand have signed an agreement to enhance collaboration in food security, a step aligning with the...
- Mariam bint Mohammed Almheiri, UAE Minister of Climate Change and Environment, and Damien O’Connor, New Zealand’s Minister of Trade, signed the MoA
- Officials from the two ministries will meet regularly to develop a plan for joint activities and programs aimed at advancing the MoA’s areas of cooperation
Business
Gas Arabian Services profit dips 18%
The net profit of Gas Arabian Services Co. has decline to $16 million.
- The firm’s net profit fell to SR60 million ($16 million), compared to SR73 million a year earlier, according to a bourse filing
- Despite the lower profit, the Dammam-based company seeks to pay SR2 per share as dividends
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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 raises US$11bn syndicated loan to fund deficit
RIYADH, SAUDI ARABIA - Saudi Arabia raised a syndicated loan of US$11 billion (SAR 41.25 billion) to fund a budget...
Business
Company News
Latest News
Burjeel begins trading on ADX
Business
Qatar and Kuwait renew pledge to help Afghanistan with aid
United Nations, US—Reiterating their pledge to continue providing aid to Afghanistan, Qatar and Kuwait have said they will continue to...
Economy
Shamma bint Sultan becomes first person from Middle East to join CEMUNE
The CEMUNE works to foster deeper cooperation on key global challenges and has been recognised for contributing to regional and...
Kuwait to develop 400 projects on Saji Island
Kuwait City, Kuwait—Kuwait will set up more than 400 local development project on Saji Island, according to the acting director...
Business
Most Read
Paris Peace Forum: Queen Rania calls for paradigm shift in response to global crises
The Queen explained that the global refugee crisis has reached "epic proportions" with the number of displaced people around the...
- The Queen explained that the global refugee crisis has reached "epic proportions" with the number of displaced people around the world now exceeding 100 million
- Launched in 2018, the Paris Peace Forum convenes yearly with the aim of contributing to bridging the governance gap by bringing together multiple stakeholders
Economy
Technological innovations drive climate action across GCC, say UAE, Saudi leaders at COP27
The Kingdom has moved from ambition to action during the past two years to empower people, protect the planet and...
- The Kingdom has moved from ambition to action during the past two years to empower people, protect the planet and shape new horizons, says Saudi minister
- The COP27 in Egypt, COP28 in the UAE next year and the Saudi Green Initiative are all opportunities that we can move forward, says UAE minister Mariam Almheiri
Science
UAE ministry launches Green Business Toolkit 2.0 at COP27
The Ministry of Climate Change and Environment (MOCCAE) introduced the second edition of the UAE Green Business Toolkit in partnership...
- The move aligns with the UAE’s pathway to net-zero and supports sustainable economic development.
- The UAE Green Business Toolkit 2.0 seeks to benefit from the business sector's increasing awareness about the importance of achieving net-zero.