Buraidah date carnival boosts Saudi tourism and economy
Buraidah, Saudi Arabia -- The Buraidah Date Carnival witnessed growing economic and tourism activity, making it a key destination for...
Business
Gross national income of GCC countries hits $2.143 trillion
Muscat, Oman -- The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of...
Economy
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
Economy
Global government spending on clean energy transitions rises to $1.2 trillion
The increase brings total amount of investment support that governments have allocated to clean energy to $1. 215 billion.
- The increase brings total amount of investment support that governments have allocated to clean energy to $1. 215 billion
- Advanced economies account for nearly 95 percent of the clean energy investment support that has been allocated worldwide
Economy
US climate envoy commends decision to hold COP28 in UAE
Washington, US— The US has commended the decision to hold next year’s 28th UN climate change conference in the UAE....
- John Kerry said that fossil fuel economies should be encouraged to lead the transition to clean energy
- The climate envoy said that this year’s COP27 conference nudged the world closer to the goal of the 2015 Paris Agreement to limit the rise in global temperatures
Economy
Jordan minister opens Grotto of the Nativity in Dead Sea
The Grotto of the Nativity, the largest in Jordan, is a model that represents the birth of Jesus Christ, the...
- The Grotto of the Nativity, the largest in Jordan, is a model that represents the birth of Jesus Christ, the son of Mary
- Setting up the Grotto of the Nativity as Christmas is approaching is to create religious tourism diversity in the Dead Sea area, Al-Fayez said
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.
Buraidah date carnival boosts Saudi tourism and economy
Buraidah, Saudi Arabia -- The Buraidah Date Carnival witnessed growing economic and tourism activity, making it a key destination for...
Business
Company News
Dragon Oil, Turkmennebit ink MoU
Business
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Penguin, SkyBlue ink MoU
Business
Over 12m people visit Riyadh Season in 60 days
Arts & Culture
ADGM’s Registration Authority fines two firms for audit failings
ABU DHABI, UAE – The Registration Authority (RA) of Abu Dhabi Global Market has fined Baker Tilly Middle East Limited...
Geostrategy
e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.
Business
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Business
Construction costs set to rise in UAE, Saudi Arabia in 2024: Report
Dubai, UAE --Â Construction costs are set to increase in the UAE by 2-3 percent, and in Saudi Arabia by 5-7...
- Construction costs are set to increase in the UAE by 2-3 percent, and in Saudi Arabia by 5-7 percent in 2024.
- Increases will challenge construction firms, which will need to develop new processes and capabilities to keep costs under control and projects on track.
Business
Qatar’s Industrial Production Index up 3.9% in Dec 2023
Doha, Qatar -- Qatar's Industrial Production index (IPI) in December 2023 reached 95.3 points, an increase of 3.9 percent compared...
- IPI reflects the growth of details of the growth of the various industrial economic sectors, with different relative weights, such mining and quarrying (82.46 percent).
- The index of mining sector showed an increase by 5 percent compared to the previous month, due to increase in the quantities of crude oil petroleum and natural gas.
Economy
Oil may rise to $100, gold to hit $3,000 by 2025, says Citi
ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...
- Analysts say gold is currently trading at $2,016 and could surge by about 50 percent if central banks dramatically increase purchases.
- Another factor that could drive gold prices is the global economy's deep recession, which could prompt the Federal Reserve to cut rates rapidly.