Saudi Arabia leads GCC in project awards this year
The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value,...Business
PIF of Saudi Arabia to launch tourism on ‘THE RIG’
Public Investment Fund of Saudi Arabia has announced the launch of ‘THE RIG,’ a new tourism project on oil offshore...“THE RIG” will span a combined total area of more than 150,000 square meters
It will provide a multitude of hospitality offerings, adventures, and aquatic sporting experiences
US sees boom in cyber-extortion in 2021
New data out Friday showed $590 million in ransomware-related payments were reported to US authorities in the first half of...Washington has sought to crack down on a sharp rise in attacks, including issuing its first sanctions against an online exchange
The heists involve breaking into a company or institution’s network to encrypt its data, then demanding a ransom,
Iran ex-central bank chief gets 10-year jail term
An Iranian court has sentenced the former governor of Iran’s central bank to 10 years in prison for violating the...Zabihollah Khodaeian, judiciary spokesman, told state TV that besides violating the currency system, Valliollah Seif also had a role in smuggling foreign currency
State TV said they were involved in violations of the currency market in 2016
Bahrain central bank issues e-cheques
The e-cheques will retain all the basic functions, legal validity, and benefits of paper cheques while providing a paperless payment...The e-cheques will come into effect on October 19, and will be available through two apps
They are expected to complement traditional paper cheques, which are a popular payment instrument in Bahrain
Putin of Russia says crypto has value but not for oil trading
Russian President Vladimir Putin signaled tolerance of cryptocurrencies, but is still not convinced they can replace the US dollar in...Russia has sought alternatives to trading in dollars since being slapped with sanctions in 2014 following the annexation of Crimea
“It is legitimate and can be used in settlements, no doubt about that, but it is too early to use it for trading in oil"
Bahrain Grand Prix to open 2022 F1 season
The 2022 FIA Formula 1 World Championship will kick off at the Bahrain International Circuit.This will be the fourth time that the Formula 1 season will start in Bahrain
The championship-opener was previously held at BIC in 2006, 2010 and in 2021
Saudi and UAE stock markets rebound
The Saudi and UAE bourses saw quite some ups and downs in the week that began on Sunday, October 10.The Saudi index started the week dropping 0.2 percent and closed the week increasing 0.64 percent
Financial-sector stocks helped Dubai and Abu Dhabi indices end the week up 0.01 percent and 0.33 percent, respectively
Saudi-owned Newcastle begin bid for ‘superpower’ status
Thousands descended on St James' Park when the takeover was finalised just over a week ago, celebrating the end of...Amanda Staveley says the consortium's ambition is to turn the struggling club into Premier League champions within the next decade
Newcastle sit second bottom of the table, without a win in their opening seven league games this season
Banking on apps for personal finance
People in the Middle Eastern countries are increasingly relying on apps to manage their money, streamline expenses and other banking...TRENDS presents a list of apps that can be used to manage personal finances in UAE and elsewhere in the region, as well as those that can be used anywhere
Middle East has one of the highest percentages of smartphone penetration in the world
Bitcoin tops $60,000 as US mulls crypto fund
Bitcoin breached the $60,000 mark for the first time since April on growing hopes that US regulators will greenlight the...The SEC has rejected attempts to create such an ETF since 2013
An ETF is a financial product that can include different assets and be traded on an exchange like other stock
