Arab ministers meet in Jordan, seek resolution to Gaza conflict
AMMAN, JORDAN – Foreign ministers from key Arab nations – including Saudi Arabia, the United Arab Emirates, Egypt, Qatar, and...
Geostrategy
Business
Volkswagen and Bosch join forces to rev up automated driving
Car giant Volkswagen and parts supplier Bosch have embarked on an "extensive partnership" to bring automated driving to the mass...
- The functions the companies want to make available include so-called "hands-free" systems for urban and motorway driving.
- The project is expected to require the skills of around 1,000 employees and the two companies have already started recruiting new experts to work in the alliance.
Business
e-Trader licenses issued by Dubai’s BRL up 6 percent in 2021
The Business Registration and Licensing (BRL) unit of Dubai’s Department of Economy and Tourism (DET) has issued 16,409 e-Trader licenses...
- 79 percent of the e-Trader licenses issued in 2021 were professional, and 21 percent were commercial.
- A licensee cannot open a shop/store but can avail of three visas if the ownership is 100 percent Emirati and legal liability falls under the license holder.
Economy
Iraq exported oil worth $7 billion in December
The additional revenues of $143 million were achieved from selling quantities of shipments of exported crude oil at a price...
- The additional revenues of $143 million were achieved from selling quantities of shipments of exported crude oil at a price premium
- The exported quantities were loaded by 29 international companies from ports of Basra, Khor al-Amiyah, mono-buoys on the Gulf, and the Turkish port of Ceyhan
Business
US lawsuit could turn global headache for Google
If the search giant loses this lawsuit, it could have to pay back a significant portion of the revenue it...
- Google stands accused of misleading people into believing that changing device and account settings protects people’s personal data
- District of Columbia Attorney-General Karl A Racine said Google has since 2014 ‘systematically surveilled’ users no matter the settings
Business
QIIB 2021 profit at $276m
This was an increase of 7 percent in net profit year on year.
- QIIB said in its statement that the Earnings per share (EPS) amounted to QR0.59 (around $0.16) as of December 31, 2021
- This was against an EPS of QR0.55 (around $0.15) for the same period in 2020marking a rise of around 7.27 percent
Arts & Culture
Cirque du Soleil Entertainment Group to bring its top shows to Saudi Arabia
The agreement with Saudi Ministry of Culture will also see the two parties develop a plan to establish a regional...
- The entertainment group will bring its touring shows like The Illusionist, Now You See Me, Paw Patrol Live – Race to Rescue, Trolls Live, and Blue Man Group World Tour
- In addition to this, Saudi Arabia may soon play host to a brand new Cirque du Soleil resident show unique to the Kingdom
Infographics
Which are the top equity markets in the Middle East?
Here is a comparison between the top equity markets in the Middle East, and how they stack up against a...
- Saudi Arabia has Tadawul, or the Saudi stock exchange, whose benchmark index is known as TASI
- The UAE has the Dubai Financial Market (DFM) as well as the Abu Dhabi Exchange (ADX)
Economy
Largest renewable energy project in Oman opened
The 500 megawatt utility, which cost RO 155 million, figures among Oman Vision 2040 major projects aimed at protecting natural...
- The 500 megawatt utility, which cost RO 155 million, figures among Oman Vision 2040 major projects aimed at protecting natural resources
- The project has been established on an area of 13 million square metres of which 1.5 million was accorded to the double-sided solar panel
Business
UAE, Malta trade bodies join hands for industrial cooperation
FUCCI Chairman Abdullah Mohamed Al Mazrouei signed the MoU with Marisa Xuereb, President of the Malta Chamber.
- The MoU is expected to help both parties expand economic, trade, and industrial cooperation
- It is also expected to encourage Emirati and Maltese businesses to form new partnerships
Business
Fitch upgrades Saudi Electricity Company’s rating after improved record
Fitch Solutions has upgraded the Saudi Electricity Company's credit rating from A- to A with a stable outlook, an upgrade...
- The international agency emphasized that the new classification was driven by the result of the improvement of the company's independent credit record.
- The agency said that the company's independent credit rating reflects its large revenues and strong market status in the electricity generation.
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
Arab ministers meet in Jordan, seek resolution to Gaza conflict
AMMAN, JORDAN – Foreign ministers from key Arab nations – including Saudi Arabia, the United Arab Emirates, Egypt, Qatar, and...
Geostrategy
Company News
Latest News
Walaa to merge with SABB
Business
Arab Broadcasting Festival set to begin in Riyadh, in November
Riyadh, Saudi Arabia—The stage is set for the Arab Broadcasting Festival to begin next month in Riyadh as preparations have...
Business
COP27: Time to move from negotiations and planning to implementation of promises and pledges
At COP26 countries agreed to deliver stronger commitments this year, including updated national plans with more ambitious targets. However, only...
Geostrategy
21 Saudi Universities figure in Times Higher Education list
RIYADH, SAUDI ARABIA - The number of Saudi universities in the Times Classification of Specializations increased to 21 Saudi universities,...
Science
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Geostrategy
Jordan cabinet reshuffle aims at modernization plans
Jordan's cabinet reshuffle is a mandate for the government to work within the Kingdom's three modernization tracks, launched at the...
- The plans include political, economic and public sector modernization.
- The new tasks for the government are streamlining performance, improving public service, attracting investment and economic development.
Business
Stc posts US$2.5bn profit in Q3
It said profit was driven by multi-sector investments.
- The telecom company's revenues hit $13.33 billion during the nine-month period, up from $12.53 billion last year, which was offset by lower cost of revenue
- During the third quarter, stc’s profits jumped 21 percent to reach $933 million
Business
Abu Dhabi Airports revamp its brand identity
The makeover is geared to provide connectivity and hospitality that showcases the emirate as a prime travel destination.
- The makeover is geared to provide connectivity and hospitality that showcases the emirate as a prime travel destination
- It also aims at ensuring safe, secure and sustainable airport environments and operations