Saudi Arabia, CARICOM countries hold first summit for strategic partnership
RIYADH, SAUDI ARABIA - Since its foundation, the Kingdom has been keen to build bridges of communication with all the...
Geostrategy
ADIB lists $500m green sukuk on LSE
The bank marked the issuance of its $500 million green sukuk.
Business
Business
Saudi firm BinDawood eyes expansion by way of acquisition
Future Tech Retail, a firm owned by Saudi retailer BinDawood Holding, will acquire a sixty-two percent stake in International Applications...
- Future Tech Retail, which is fully owned by BinDawood Holding, signed the deal with Amwaj Real Estate Co. and First Commercial Application Co
- The potential acquisition comes in a bid to strengthen BinDawood’s position in the e-commerce sector and enhance its omnichannel presence
Business
2021 edition of World’s Coolest Winter raises UAE hotel revenues by 50 percent
UAE government's World's Coolest Winter campaign, which was launched in December 2021, has raised revenues of hotel establishments to AED1.5...
- The campaign promoted tourism, natural sites and entertaining destinations and experiences across the seven emirates of the UAE.
- The campaign also raised the number of domestic tourists from 950,000 to 1.3 million, an increase of 36 percent over the first edition of the campaign.
Business
QLM net profit up 8 percent
The insurer reported a growth of 16 percent in underwriting income.
- The Company’s net profit for the Year 2021 is QAR 106.2 million compared to QAR 98 million in 2020, a growth of 8 percent.
- The company’s board has recommended a cash dividend of 22 percent (QAR 0.22 per share).
Business
Ras Al Khaima issues 1,749 business licenses in 2021
The Emirate of Ras Al Khaima has given out 1,749 business licenses in 2021, a thirty-six percent jump over the...
- Commercial sector licenses increased by 921, accounting for 53 percent of the total issued licenses, an annual growth of 30 percent compared to 2020
- It was followed by industrial and professional licenses at annual growth rates of about 47 percent and 46 percent respectively
Geostrategy
Dubai Municipality planted on average 466 trees a day in 2021
Dubai Municipality has added 2.83 million square meters of green areas to the city by planting more than 170,000 trees...
- The Municipality has added 2.83 million square meters of green areas to the city by planting more than 170,000 trees in various locations.
- The total area of green spaces under the Municipality’s supervision to around 43.83 million square meters.
Expo 2020 DUBAI
Expo 2020 Dubai warns of fraud over Coldplay concert tickets
Some free tickets for the February 15 concert of British music band Coldplay were apparently being resold online for money.
- Expo 2020 Dubai has warned that the many copies of the same ticket may be sold online
- Each ticket has a QR code that can be scanned only once, to deter exactly such practices
Geostrategy
Norway vows to increase funding for UNRWA
Norway's Minister has called on other donors as well to increase their funding for UNRWA.
- Norway has vowed to provide NOK 1.1 billion ($124 million) over a period of four years to UNRWA
- It is expected to help the organization protect children and boost initiatives to combat sexual and gender-based violence
Business
Saudi crown prince transfer 4% Aramco shares to PIF
The transfer was part of Saudi Arabia’s long-term strategy to support the restructuring of its economy, in line with Vision...
- The shares are expected to bolster the PIF’s strong financial position and high credit ratings in the medium term
- The transfer will support the PIF’s plans to grow its Assets under Management to around SAR4 trillion (around $1.07 trillion) by 2025
Business
The annual Sharjah Heritage festival to kick off in March
Armenia will be the official guest of honor this year due to its rich and diverse cultural stock, while Indonesia...
- The Sharjah Institute for Heritage (SIH) announced that the festival’s slogan will be "The Heritage and the Future"
- A total of 33 countries would participate in the event including Saudi Arabia, Oman, Kuwait and Qatar from GCC
Business
Iraq warns its citizens not to fall victim to asylum fraud
The Ministry of Migration and Displacement (MOMD) has warned the Iraqis to avoid falling victim to fraud by companies that...
- The Undersecretary of Ministry of Migration and Displacement said Iraq has taken serious measures to resist this
- He said it led to the threat of imposing sanctions on Iraq due to problems between The European Union (EU) and Belarus
Most Read
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, CARICOM countries hold first summit for strategic partnership
RIYADH, SAUDI ARABIA - Since its foundation, the Kingdom has been keen to build bridges of communication with all the...
Geostrategy
Company News
Latest News
UAE’s mobile internet fastest in Arab world
Infographics
Saudi Arabia’s embassy in United States participates in ‘Cat Walk’
The Saudi ambassador to the United States, and a number of embassy staff were present on the occasion.
Arts & Culture
China’s current account surplus up 56% in Jan-Sep 2022
The surplus under trade in goods increased 37 percent year-on-year to hit a record US$521.6 billion.
Economy
Temporary employment contracts between countries need enhancements to boost efficiency, production
Sixteen member countries of the Abu Dhabi Dialogue that send and receive laborers discuss problems and welfare of the workers...
Economy
Most Read
Business
Qatar Central Bank issues treasury bills, sukuk worth $1.6 billion
Doha--The Qatar Central Bank (QCB) has issued Treasury Bills and Sukuk for periods of one week, one month, three, six...
- The bills and sukuk for one week, one month, three, six and nine months worth QR 6 billion ($1.6 billion), and the auction attracted a record amount of bids totaling QR 9.75 bn.
- For September, the bank had issued treasury bills for three, six and nine months, with a value of QR 600 million ($164 million).
Geostrategy
Saudi-Finnish business forum discusses enhancing trade ties
HELSINKI, FINLAND - Heading a high-level delegation to Finland, Saudi Arabia's Minister of Commerce and Chairman of the Board of...
- The Saudi delegation was in Finland to participate in a forum organized by Business Finland in cooperation with the Federation of Saudi Chambers.
- The forum was attended by around 120 officials from the public and private sectors in the two countries.
Economy
Saudi real GDP grows by 8.6 percent in Q3: Ministry of Economy
An economic report issued by the MEP---the ministry will publish such reports quarterly on domestic and global economic updates---real non-oil...
- Manufacturing, wholesale, retail trade, restaurants and hotels, construction and transport were among the key contributors to the kingdom’s non-oil GDP growth in Q3.
- The ministry said that “despite persistent supply-chain bottlenecks clogging up global trade”, the kingdom’s trade balance climbed by 87 percent to SAR 72 billion ($19.15 billion)