Saudi Arabia’s real GDP up by 3.9 percent in Q2 2025: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) grew by 3.9 percent in the second quarter of...
Business
DP World mobilizes $1 billion in working capital to boost trade flow
Dubai, UAE — DP World Trade Finance has mobilized more than US$1 billion in working capital to support businesses across...
Business
Videos
Is GCC insurance industry ready for the change?
Industry experts stress the need for harnessing the momentum the industry has gained after the recovery from Covid setbacks.
- PwC Middle East advises insurers, as they look to 2025 post Covid recovery, to harness "the momentum they have gained" to meet new challenges.
- "Regardless of how insurers capitalize on these trends, they will need to reassess the future and reimagine their place in the world," says Sanjay Jain of PwC.
Economy
Saudi real GDP grows 8.8 percent in third quarter on rise in oil activities
Riyadh, Saudi Arabia---Saudi Arabia’s real gross domestic product grew by 8.8 percent in the third quarter of 2022 compared to...
- GASTAT noted that the real GDP growth in the third quarter was up 2.1 percent compared to the second quarter of this year.
- Government activities also rose by 2.5 percent in the third quarter compared to the same period a year ago.
Economy
UAE passport ranked most powerful in the world
Dubai, UAE— The United Arab Emirates has been ranked as the country with the world's most powerful travel document. That...
- The UAE has beaten the likes of Germany, Sweden, Finland and Luxembourg in the latest ranking
- An Emirati passport holder can travel to a huge number of countries visa-free, and in many others you can get a visa right when you arrive
Economy
Qatar sees 34 percent decline in building permits in November
Doha, Qatar— Qatar has witnessed a 34 percent decline in building permits to 645 during the month of November, as...
- According to the monthly statistics issued by the Planning and Statistics Authority, the decrease was noted in the all of the municipalities
- Commercial buildings were found to be in the forefront of non-residential buildings permits with 32% (25 permits), followed by governmental buildings with 31% (24 permits)
Business
Continuous efforts to enhance UAE’s endeavor to confront money laundering crimes: CBUAE Governor
The apex bank "will continue to take all measures to ensure the maintenance of the integrity of the financial system...
- The CBUAE is making continuous efforts to enhance the fight against all forms of financial crimes and money laundering, says its Governor Khalid Mohammed Balama
- The Gulf country is developing effective policies and legal frameworks, governance and executive machineries, and close follow-up of all illegal financial transactions, he adds
Business
Riyadh summits bring in fresh hopes, opportunities as region sees China as ‘growth engine of global economy’
While a UAE official in Beijing calls the China-Arab summit a key milestone in the history of relations between the...
- While a UAE official in Beijing calls the China-Arab summit a key milestone in the history of relations between the two peoples, Palestine hails its outcomes as 'beyond expectation
- The UAE accounts for over 60 percent of China’s exports to the region, with China being the UAE’s largest trading partner, and the UAE being home to more than 6,000 Chinese firms
Business
DEWA receives 29 EOIs for first phase of desalination project at Hassyan
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received 29 expressions of interest (EOIs) to implement the first...
- This is the first project implemented by DEWA using the Independent Water Producer model, which will run in phases during 2025 and 2026.
- The firm uses clean solar power to desalinate seawater using the latest Reverse Osmosis technologies, which consume less energy.
Geostrategy
UAE, Turkmenistan review enhancing bilateral relations
ASHGABAT, TURKMENISTAN - Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber has left the UAE on...
- The UAE Minister of Industry and Advanced Technology headed a delegation comprising senior officials from government, private sectors to Turkmenistan.
- The delegation discussed ways to develop bilateral relations and enhance cooperation in the fields of oil, gas, clean energy, infrastructure.
Geostrategy
G20 Interfaith Forum to convene in Abu Dhabi
Abu Dhabi, UAE— The G20 Interfaith Forum (IF20), the world’s leading organisation focused on the intersection of faith and policy...
- The UAE is hosting the event as part of its ongoing initiatives to promote cultural interaction and global convergence
- The 2022 Forum in Abu Dhabi will serve as a bridge between the November G20 Summit in Indonesia and the launch of the 2023 G20 agenda, with India as 2023 host
Business
DEWA receives 29 EOIs to set up desalination project at Hassyan complex
The company has received 29 expressions of interest to implement first phase of its Hassyan Sea Water Reverse Osmosis Plant.
- The company has received 29 expressions of interest to implement first phase of its Hassyan Sea Water Reverse Osmosis Plant
- It has appointed a consortium of companies, including Deloitte, WSP and Addleshaw Goddard, to provide consultancy services for the project
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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’s real GDP up by 3.9 percent in Q2 2025: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) grew by 3.9 percent in the second quarter of...
Business
Company News
Over 12m people visit Riyadh Season in 60 days
Arts & Culture
Latest News
‘Israeli army tortures and rapes Palestinian girls’
The experts have expressed concern that an unknown number of Palestinian women and children, including girls, have reportedly gone missing...
Geostrategy
Construction in China-Saudi Arabia ethylene project begins
FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...
Business
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Business
KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility
ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...
- The 30,000 square meters advanced manufacturing facility for APT in KEZAD will be located adjacent to Emirates Global Aluminum.
- The facility will be one of the largest manufacturers of aluminum in the world and will be operational by early 2025.
Business
Emirates Flight acquires Bustanica
Bustanica is the world's largest indoor vertical farm.
- Bustanica’s 330,000sqft facility has the capacity to grow more than 1 million kilograms of leafy greens a year.
- Its produce is available across all major retailers in the UAE such as Spinney's, Waitrose, Carrefour, and Choithrams.
Business
SCC committee discusses issues related to Sharjah’s economy and tourism
SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...
- The committee addressed the outcomes of its recent visit to Sharjah Commerce and Tourism Development Authority.
- The committee was briefed about the authority’s efforts to stimulate tourism by conducting events throughout the year.