Saudi Arabia’s Industrial Production Index falls 11.2% in September
RIYADH, SAUDI ARABIA – The Kingdom of Saudi Arabia’s Industrial Production Index (IPI) fell by 11.2 percent year-on-year (YoY) in...
Economy
Expat remittances in Saudi Arabia fall to $2.6bn in September
RIYADH, SAUDI ARABIA - Remittances by expatriates in Saudi Arabia dropped 13 percent year-on-year (YoY) to US$2.6 billion (SAR 9.9...
Economy
Business
AD Ports, Eni Abu Dhabi sign pact
The two firms will establish a marine logistics base at Mugharraq Port.
- Mugharraq Port was recently recognized as an international port facility.
- Its new status enables it to receive and service a host of international and local vessels.
Business
Israel okays UAE joint fund for high-tech investment
The Israel government has approved the plan for a joint fund with the UAE for investment in high-tech firms and...
- The proposal was brought to the government by Israel’s Minister of Foreign Affairs of the State Yair Lapid
- It was co-sponsored by the country’s Minister of Foreign Affairs of the State Orit Farkash Hacohen
Business
Investcorp inks $4bn deals in US
It acquired properties worth $2.5 billion, and made sales of $1.5 billion.
- Invescorp expanded its US platform with focus on industrial and residential sectors
- The team has acquired over 200 properties in 2021 worth $2.5 billion and has sold for $1.5 billion
Economy
Lebanon decision to convert deposits to local currency faces ire
The current midmarket rate for a US dollar is LBP1,500, while the black-market rate is more than LBP23,000 to the...
- Depositors in Lebanon demonstrated against the government's plan to convert deposits into Lebanese pounds
- The demonstration was also against an associated decision to compensate depositors in the local currency
Geostrategy
Houthi militia launch missile attacks on UAE and Saudi Arabia
The UAE air defense forces have intercepted and destroyed two ballistic missiles targeting the country, the Ministry of Defense announced...
- The UAE Ministry of Defense confirmed that there were no casualties resulting from the attack
- However, the attack in Saudi Arabia led to two expatriates sustaining minor injuries
Arts & Culture
Iraq reclaims five new artifacts from US
Farid Yassin, the Ambassador of Iraq to the America says that the recovered artifacts are part of the history and...
- Iraq reclaimed five new artifacts from Washington that had been stolen during the past 30 years
- The recovered artifacts include an ivory plaque bought for $400,000 in 2010 and a Golden bowl bought in 2020 for $150,000
Business
SINOPEC inks Iraq gas deal
The contract includes training workers to keep up with the sector,
- Iraq has signed contract with to develop the Mansouriya gas field in Diyala in the Anbar Governorate
- This deal represents an addition to the investment of free gas from the Mansouriya field
Arts & Culture
Cairo International Book Fair to host Abu Dhabi Arabic Language Center
The Abu Dhabi Arabic Language Centre will also hold a ‘Cultural Retreat’ at the event
- The Book Fair is one of the largest cultural events in the region, taking place in the Egyptian capital from Jan 26-Feb 7.
- The Centre will showcase its various publishing and translation projects, which are designed to firmly cement the status of Arabic language.
Geostrategy
Saudi’s role in aviation security hailed at Experts Group Meeting
Saudi Arabia, represented by the General Authority of Civil Aviation, chaired the meeting of a team of aviation security experts...
- Saudi Arabia chaired the meeting of a team of aviation security experts within the Middle East Aviation Security Cooperative Program.
- Representatives from Saudi Arabia, Sudan, Jordan, and the observer states Qatar and Egypt participated in the meeting.
Business
Dubai records $1.11 billion worth of weeklong real estate deals
A total of 1,99The real estate and properties transactions valued at AED4.1 billion were recorded in Dubai during the week...
- The transactions included 287 plots that were sold for AED1.08 billion, while 1,059 apartments and villas were purchased for AED2.25 billion.
- The top three transactions were a plot of land in Al Hebiah Fifth that sold for AED190 million, followed by land that was sold for AED 45 million in Al Thanyah First.
Saudi Arabia’s Industrial Production Index falls 11.2% in September
RIYADH, SAUDI ARABIA – The Kingdom of Saudi Arabia’s Industrial Production Index (IPI) fell by 11.2 percent year-on-year (YoY) in...
Economy
Company News
Latest News
Walaa to merge with SABB
Business
Sharjah Taxi to scale up its fleet of hybrid cars by 65 percent
Sharjah, UAE— Sharjah Taxi intends to increase the number of its hybrid cars running on both fuel and electricity. The...
Business
Foreign firms can now get approval for dual listing on Tadawul
Riyadh, Saudi Arabia— Foreign companies will be able to obtain approval for dual listing on the Saudi market, according to...
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
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Science
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,...
- Saudi universities are distinguished in 10 major disciplines out of the 11 majors in which international universities are ranked.
- The Kingdom’s universities rankings include 47 in physical sciences, 56 in computer science and 57 in engineering.
Geostrategy
Jordan to host renewable energy investment forum
AMMAN, JORDAN - Amman is scheduled to host the Seventh International Investment Forum for Renewable Energy and Energy Efficiency in...
- The forum will discuss over three days many important and vital issues on various fields of renewable energy, energy efficiency, green hydrogen.
- The forum's themes will also cover innovative agricultural patterns, energy management, carbon trading.
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.