Dubai GDP grows by 4 percent to reach $32.58 billion in first quarter of 2025
Human Health and Social Work activities registered the highest growth rate, rising 26 percent compared to the same period last...
Economy
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
Economy
SASO, Chinese SAC renew technical cooperation program
The program aims to strengthen the strategic partnership between the two countries and contribute to ensuring the quality and safety...
- The program aims to strengthen the strategic partnership between the two countries and contribute to ensuring the quality and safety of goods
- It also aims to establish frameworks for joint cooperation in several areas, most notably the exchange of information and research studies
Geostrategy
Saudi Crown Prince: ‘Arabs will race for progress and renaissance once again. We will prove that every day’
China has established comprehensive strategic partnership relations with 12 Arab countries separately, says Xi Jinping during Arab-China Summit in Riyadh.
- China has established comprehensive strategic partnership relations with 12 Arab countries separately, says Xi Jinping during Arab-China Summit in Riyadh
- The summit vowed to confront the food, energy and climate crisis, and find political solutions to thorny issues and working to maintain peace and security in the region
Business
Dubai records weeklong real estate transactions worth $2.48 billion
Dubai, UAE --Dubai recorded a total of 3,186 real estate transactions worth over AED 9.1 billion ($2.48bn) during the week...
- The DLD report said that 419 plots were sold for AED 2.24 billion, while 2,233 apartments and villas were purchased for AED 4.64 billion.
- The top three transfers for apartments and villas were apartments for AED 54 million, AED 50 million and AED 37 million.
Economy
Tourists, cruises, flights to Aqaba on the rise in December
AQABA, JORDAN - The southern city of Aqaba is welcoming an increasing number of local visitors and foreign tourists of...
- The ports of Aqaba are expected to receive eight giant cruise ships carrying about 2,700 tourists each.
- King Hussein International Airport in Aqaba has received 18 flights from abroad in since the beginning of December.
Economy
UAE tax decree: Profits above $102,099 to be taxed at 9 percent
Abu Dhabi, UAE---The UAE has issued a decree on the Taxation of Corporations and Businesses, the Corporate Tax Law, under...
- Profits up to and including the $102,099 threshold will not be taxed "to support small businesses and start-ups".
- Free zone entities will be eligible to benefit from the zero percent Corporate Tax rate on qualifying income.
Geostrategy
IFC, UNHCR to jointly boost private sector engagement for refugees, host communities
GENEVA, SWITZERLAND - The International Finance Corporation (IFC) and UNHCR, the UN Refugee Agency, Friday announced a joint initiative to...
- The initiative aims to mobilize private sector projects over the next five years to demonstrate the viability of investments in forced displacement contexts.
- Forced displacement is a growing crisis that is too large and complex for governments and humanitarian agencies to solve alone.
Business
Aramco, Shandong Energy to collaborate on downstream projects in China
Dhahran, Saudi Arabia---Saudi Aramco and China's Shandong Energy Group are exploring collaboration on integrated refining and petrochemical opportunities in China....
- The companies have signed a Memorandum of Understanding (MoU), which includes a potential crude oil supply agreement and chemicals products offtake agreement.
- The scope of the MoU extends to cooperation across technologies related to hydrogen, renewables and carbon capture and storage.
Economy
Japan provides $110m soft loan to support Jordan’s energy sector
The loan is part of Japanese government's pledges to the Jordanian government at the 2019 London Conference.
- The loan is part of Japanese government's pledges to the Jordanian government at the 2019 London Conference
- Japanese ambassador Okuyama said that the loan would support the Jordanian government's comprehensive reform efforts
Business
e& partners with Bespin Global to offer cloud managed services in METAP region
The Joint Venture will be 65 percent owned by e& enterprise and 35 percent by Bespin Global.
- The JV will be 65 percent owned by e& enterprise and 35 percent by Bespin Global
- e& enterprise will be making a primary investment of $60 million in Bespin Global
Economy
UAE leads Arab world in IMD World Talent Ranking 2022
The country was ranked among the top ten in nearly 30 percent of the report’s indexes.
- The country was ranked among the top ten in nearly 30 percent of the report’s indexes
- World Talent Report is published annually by the Institute for Management Development in Lausanne, Switzerland since 2013
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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
Dubai GDP grows by 4 percent to reach $32.58 billion in first quarter of 2025
Human Health and Social Work activities registered the highest growth rate, rising 26 percent compared to the same period last...
Economy
Company News
Over 12m people visit Riyadh Season in 60 days
Arts & Culture
Latest News
Saudi National Bank launches US dollar-denominated sukuk
RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle. The sukuk are offered to qualified...
Business
‘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
Most Read
Business
Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...
- Trade between Iran and member states of the EU recorded a decrease of 9 percent from January to December 2023.
- During that period, the exchange of products between Iran and the EU member states was valued at US$5 billion.
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.