Riyadh, Washington seal major defense agreement amid Saudi push for two-state roadmap before Israel normalization
Saudi Crown Prince said that his kingdom wanted to normalize relations with Israel through US President Donald Trump's Abraham Accords,...
Geostrategy
Geothermal, desalination: Top 10 solutions for planetary health
Dubai, UAE--Ten transformative technology solutions could change the way the world powers homes, grows food and secures freshwater, according to...
Geostrategy
ESA, SAP ink agreement
Business
CATRION 2023 profit up 10%
Business
Geostrategy
IsDB to finance projects worth US$800m in member states
JEDDAH, SAUDI ARABIA - The Board of Executive Directors (BED) of the Islamic Development Bank (IsDB) approved to finance projects...
- The aid will contribute to ameliorate the socio-economic challenges faced by the people and will help in achieving significant SDG targets.
- IsDB had made an emergency intervention to support the communities affected by the conflict in Sudan.
Business
Saudi Arabia’s first social network Jaco attracts 1m users in 2 months
RIYADH, SAUDI ARABIA:Â Â The supervisor of the Kingdom's first social network Jaco - Saudi entrepreneur Fahd Al-Shidi announced that the...
- The Saudi Arabian entrepreneur and supervisor of the project expressed confidence that Jaco will reach 5 million users by the end of the year.
- At the official launch ceremony of the Jaco application in Riyadh, the supervisor expressed happiness at the success of the social network.
Business
Dubai real estate sales up despite price rise since January 2020
Dubai, UAE – The Dubai Land Department (DLD) reported over 3,200 transactions worth AED 24.7 billion last week and this...
- Research show real estate transactions soared by 44 percent in the first six months of 2023 with nearly 60,000 units being sold.
- Several industry analysis indicate that the real estate sector in the emirate will observe growth of approximately 15 percent in 2024.
Economy
Iran receives US$6.7bn foreign investment in May 2023 EXPO, says official
TEHRAN, IRAN - Foreign companies and governments committed some US$6.7 billion worth of investments during an exhibition that was held...
- The Iranian diplomat said that his country has an ambitious vision to diversify its economy away from crude oil revenues.
- He said that this includes expanding the transportation infrastructure in Iran to significantly increase its cargo transit revenues.
Business
RAKEZ, Indian Economic Trade Organization ink MoU to boost business ties
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Economic Trade Organization (IETO) have signed...
- The collaboration focuses on initiating trade missions and investment forums to help Indian businesses understand what RAKEZ offers.
- The agreement promises customized business services for Indian companies that are tailored to their aspiration of expanding into the MENA region.
Business
EIH acquires stake in 9Yards Comm
The acquisition aims to broaden EIH's investment portfolio.
- EIH has cultivated a diversified, innovative and sustainable investment portfolio comprising over 40 successful companies across various sectors.
- 9Yards Communications has a broad client portfolio encompassing government entities and private organizations both domestically and internationally.
Business
UAE looks to deepening trade relations with ASEAN bloc
Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, led the UAE delegation to Jakarta, Indonesia, the...
- Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, led the UAE delegation to Jakarta, Indonesia, the host of ASEAN Business and Investment Summit.
- UAE and Indonesia agreed to work in unison to ensure they deliver on the projection of US$10 billion in bilateral non-oil trade within five years.
Business
Global space economy is worth billions, say experts
ABU DHABI, UAE - The global space economy has great potential in terms of economic prospects, with the sector going...
- Several studies by specialised global institutions indicate that the global space sector will be worth over US$1 trillion in the next few years.
- The space economy grew 8 percent in 2022, with its value totalling US$546 billion, and is projected to grow by 41 percent in the next five years.
Business
Iraqi Trade Center to be launched at ACC’s headquarters in Jordan
AMMAN, JORDAN - Amman Chamber of Commerce (ACC) and the Iraqi Embassy here agreed to open Iraqi Trade Center at...
- The center's inauguration will allow Jordanian and foreign businesspeople to view investment opportunities offered by the Iraqi government.
- The center will provide Jordanian companies with the opportunity to learn about Iraqi industries and agricultural products.
Geostrategy
Qatar Credit Bureau, Supreme Judicial Council to share data
DOHA, QATAR - Qatar Credit Bureau signed a memorandum of understanding (MoU) with the Supreme Judicial Council (SJC) pertaining to...
- The primary objective of this cooperation is to regularize the electronic connection between the bureau and SJC.
- SJC will supply the bureau with the outcomes of the rulings related to its work in quest of achieving data accuracy.
Riyadh, Washington seal major defense agreement amid Saudi push for two-state roadmap before Israel normalization
Saudi Crown Prince said that his kingdom wanted to normalize relations with Israel through US President Donald Trump's Abraham Accords,...
Geostrategy
Company News
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ESA, SAP ink agreement
Business
CATRION 2023 profit up 10%
Business
2025 IT Security Predictions
Cloudflare, a leading connectivity cloud company recently published an Op-Ed by Grant Bourzikas, CSO, tackling IT security predictions for 2025
GCC equity markets ended 2024 in positive territory
Five of seven GCC equity market indices under coverage ended 2024 on the rise, according to an in-depth report on GCC equity...
18Â Palestinians killed in Israeli strikes on northern, southern Gaza
Palestinian news agency (WAFA) reported that eight Palestinians were killed, and others were injured in an airstrike by the Israeli...
Geostrategy
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Business
Abu Dhabi’s Hub71 startups secure $1.90 billion in funding, says CEO
Abu Dhabi, UAE -- Startups within Hub71, Abu Dhabi's global tech ecosystem, have secured over AED 7 billion in funding,...
- The ecosystem is now hosts over 300 startups from around the world and has forged 150 partnerships to support these companies in attracting investments.
- Ahmad Ali Alwan, CEO of Hub71, said it has received over 2,500 applications for its programmes.
Business
Saudi Arabia’s non-oil exports surge by nearly 23% in Sept 2024
Riyadh, Saudi Arabia -- Saudi Arabia's non-oil exports surged by 22.8 percent in September, according to a report by the...
- The September 2024 International Trade Report said national non-oil exports, excluding re-exports, rose by 11.6 percent.
- The report also indicated a 14.9 percent decline in merchandise exports in September 2024 compared to September 2023.
Business
Lulu Retail Q3 profit $35m
For the nine-month period, net profit increased by 73.3%.
- In its first financial update since its record IPO on ADX, the company posted a revenue growth in Q3 2024, reaching $1.86 billion, up 6.1% YoY.
- The UAE saw strong revenue growth of 7.5% in Q3 2024, mainly driven by healthy LFL growth of 4.7% during the quarter.