Qatar’s foreign merchandise trade surplus $4.58 billion in Nov 2023
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...Business
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...Business Economy Energy Geostrategy Global
Messi, Neymar’s club PSG to play in Riyadh Season Cup
PSG boasts a stellar line-up, with the likes of Lionel Messi, Neymar, Kylian Mbappé, and Sergio Ramos taking to the...The tournament will be played in January next year as part of the second edition of Riyadh Season
The event, which celebrates the city, will be held from October 2021 to March 2022
Cloud adoption picks up pace in GCC region
The strong demand for cloud computing in the Gulf region is driven by efforts of the member states to diversify...The UAE leads the region in terms of cloud computing adoption and annual spending.
The MENA region will be worth around $5 billion to cloud suppliers by 2022.
Gulf aviation sector maintains regional lead
Several airports in the region have announced plans to expand their airports to meet the expected growth in travel demand.Experts see up to 40 percent rise in premiums in the next two to three years.
The total number of passengers traveling through DXB in the first five months of 2021 was around 9.9 million.
Aramco bags one-year contract to market Guyana’s crude oil
Aramco has bagged a one-year contract from Guyana to market the crude oil produced in the South American country.Guyana became the world's newest energy hotspot when a consortium led by Exxon Mobil Corp began producing crude off the country's coast in late 2019
It is now producing around 120,000 barrels per day
Saudi Arabia to regulate foreign investment
Looking to protect many sectors of its economy from the competition that the foreign companies will present, Saudi Arabia has...Chaired by the investment minister, the new committee will also set the limit for foreign ownership in local companies
The committee comes as more foreign entities take an interest in entering the Saudi market as part of the government’s push to modernize its economy
Saudi developer taps BMG for $266m IPO on Nomu
Bunyan United Company, the Saudi Arabia-based real estate firm, has tapped BMG Financial Group as its advisor for its upcoming...The Jeddah-based developer has real estate projects in several industries, including entertainment, medicine, and hospitality
Bunyan United Company, the Saudi Arabia-based real estate firm, has tapped BMG Financial Group as its advisor for its upcoming listing on Nomu, a parallel market in the Saudi stock
Abu Dhabi to obtain material for giant solar project from Hitachi ABB
Abu Dhabi will obtain large generator step-up (GSU) transformers, protection and telecommunication systems for the Al Dhafra PV2 Solar project...Hitachi ABB to supply GSUs for giant Abu Dhabi solar PV plant
The project is located about 35 km from Abu Dhabi city and will supply power to Emirates Water and Electricity Company
Saudi Arabia awards $95.4m contract to manage Riyadh water services
Saudi Arabia has awarded a $95.4 million contract to a consortium to manage water services and environmental treatment in Riyadh.Contract awarded to Alkhorayef Group and France's Veolia
Restructuring of Saudi water sector almost complete
GCC witnesses 5.8 percent decline in mobile phone sales in second quarter
Due to supply shortages and high levels of inventory carried over from the first quarter, smartphone shipments to the GCC...IDC predicts a 9.4 percent decline in shipments QoQ for the GCC smartphone market in Q3.
Smartphone shipments were down 5.1 percent and feature phone shipments fell 11.9 percent
US approves $500mn helicopter maintenance deal for Saudis
Under the deal, US will provide 350 contractor technicians and two government officials over two years to handle the maintenance...Before his election Biden had promised to make Saudi leaders "pay" for the murder of US-based journalist Jamal Khashoggi.
In late January Biden ordered a review of all arms contracts concluded by his predecessor Donald Trump with Saudi Arabia and other countries.
