Ajman hotels posts 3% increase in revenues in Q1 2023
AJMAN, UAE - Ajman hotels and serviced apartments recorded a three percent growth in hotel revenues in the first quarter...
Business
Art Dubai 2023 generates US$39m in economic impact, says new study
DUBAI, UAE - Art Dubai, the leading international art fair for the Middle East and Global South, on Sunday announced...
Economy
Business
One ton of honey sells in Saudi Arabia in 10 days
At least one ton of honey has been sold in just 10 days at a festival in Baha, Saudi Arabia,...
- Beekeeper Yahya bin Tayran said Baha honey was one of the finest, especially if its source was far from where people lived
- It has a display of different types of liquid honey and honey wax typical of the Baha region
Business
Kuwait International Bank completes sale of NMC Health debt
Kuwait International Bank said it has completed the sale of its exposure in troubled UAE healthcare group, NMC.
- The sale of debt, worth over $13mln, is subject to approvals
- The lender, which was owed $74.11 million by NMC health, in May decided to cut its losses and sell the debt to an unnamed entity for $13.25 million
Geostrategy
Taliban inherit $1 trn trove of minerals
China could take lead to tap the untapped minerals including some that could power the world’s transition to renewable energies.
- Endless wars and poor infrastructure have prevented the country from getting its hands on the metals that could brighten its economic fortunes.
- The resources include bauxite, copper, iron ore, lithium and rare earths, according to a January report by the US Geological Survey.
Economy
Arabs seek freelance jobs as economy recovers
Saudi Arabia has seen a sudden growth in the size of freelance workforce with the number doubling in the first...
- Number of people who obtained a freelance employment document reaches 631, 518
- The ministry also said most freelancers are aged between 20 and 30 years old, with most of them working in graphic design, marketing and advertising, and family businesses
Economy
Six new projects approved for development of Hatta
Tourism and water have been the economic mainstay of Hatta, an inland exclave of Dubai.
- Hatta residents will be allowed to build 200 holiday homes to support domestic tourism.
- 504-km-long chairlifts, waterfalls, hotel among other projects.
Business
Meet to discuss Islamic finance’s role in post Covid-19 recovery
The global forum organized by the Islamic Development Bank on Aug. 28 is being held as a side event to...
- The first panel of the forum will highlight the economic effects of the pandemic and the poverty trends in IsDB member countries.
- The second panel will focus on Islamic finance PPP as a tool to mobilize resources to support IsDB member countries’ economic recovery.
Business
Saudi Arabia remains China’s top crude supplier
Although its supply of crude oil fell ten percent on the month, Saudi Arabia still continued to be China’s top...
- Shipments from Saudi Arabia, according to media reports, totaled 6.69 million metric tons in July, or 1.58 million bpd, compared with June's 1.75 million barrels per day
- Imports from Russia were 6.64 million metric tons last month, or about 1.56 million bpd, versus 1.62 million bpd in June
Business
Iran’s July oil output rises 28% year on year: OPEC
Iran produced 2.485 million barrels per day or bpd of crude oil in July, according to OPEC’s latest monthly report.
- The country’s average crude output for the second quarter of 2021 stood at 2.443 million bpd
- This indicated a 224,000-bpd increase compared to the figure for the first quarter of the year
Economy
More than 4m could lose water in Lebanon, warns Unicef
Unicef is calling for the urgent restoration of power supply, which is the only solution to keep water services running.
- Lebanon is currently suffering from one of the world’s worst economic crises since the mid-1800s
- Matters have only been made worse by the withdrawal of fuel subsidies by the country’s central bank
Business
Ever Given sails through Suez Canal again
Ever Given, the ship that caused the closure of the Suez Canal for six long days in March, has crossed...
- The ship, en route from the United Kingdom to China, crossed the canal among a convoy of 26 vessels
- A group of SCA senior pilots and two tugboats escorted the Ever Given throughout its journey through the canal
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
Ajman hotels posts 3% increase in revenues in Q1 2023
AJMAN, UAE - Ajman hotels and serviced apartments recorded a three percent growth in hotel revenues in the first quarter...
Business
Company News
High commodity prices to keep inflation up
Infographics
Latest News
Iraq, Kuwait, US conduct joint patrol in Arabian Gulf
Ships from the Iraq Navy, Kuwait Naval Force, Kuwait Coast Guard, US Navy, and US Coast Guard participated in maneuvering...
Geostrategy
UN says half of world’s health facilities lack basic hygiene
Sketching a dire picture of the world’s healthcare facilities, the United Nations has said that nearly four billion people are...
Science
Most Read
Economy
‘Third’ of Pakistan under water as flood aid efforts gather pace
The rains that began in June have unleashed the worst flooding in more than a decade, washing away swathes of...
- In the south and west, dry land is limited, with displaced people crammed onto elevated highways and railroad tracks to escape the flooded plains
- Pakistani officials have blamed climate change, which is increasing the frequency and intensity of extreme weather around the world
Business
Egypt’s Zohr gas field pumps out record 2.7bn cubic meters of gas
Egypt has posted a record in pumping out 2.7 billion cubic meters of gas per day at Zohr gas field...
- According to the ministry of petroleum and mineral resources the volume of investments in the gas field hit $741 million during the relevant year
- Investments have exceeded $12 billion since the beginning of work in the field
Business
Saudi-Thai Business Council set up to enhance trade
The Federation of Saudi Chambers announced Monday the establishment of a joint Saudi-Thai Business Council.
- The Federation of Saudi Chambers announced Monday the establishment of a joint Saudi-Thai Business Council.
- Thailand's Deputy Prime Minister said that discussions with Saudi officials resulted in signing of three pacts