West tells Iran to ‘stand down’ Israel attack threats; Tehran says ‘no way’
With tensions soaring in the Middle East, the United States says that Iran along with its proxies might attack Israel...Business Economy Geostrategy
GACA and SBJBC strengthen saudi-UK aviation ties in London roundtable
Led by GACA President, the meeting featured the British Ministry of Transport, the SBJBC, and key aviation industry leaders.Business
Mubadala invests in Zenobē
The investment is aimed at powering 4,000 electric vehicles.The collective investment aims to power 4,000 electric buses, trucks, and commercial vehicles, contributing to the global transition to cleaner transportation by 2026.
London-based Zenobē, established in 2017, specializes in electric vehicle (EV) fleet solutions and large-scale battery storage.
Crypto markets witness dynamic asset allocation amid volatility, says study
DUBAI, UAE – Institutional traders (INS) in the crypto markets maintain a conservative approach, with 50 percent of their portfolio...In September 2023, institutional traders allocated half of their portfolios to Bitcoin, the report said.
Retail traders showed a lower percentage of Bitcoin holdings, which could be linked to their higher leverage levels.
KSA offers 30-year tax holiday for global corporations as regional HQ program fuels investment boom
The approaching 1 Jan deadline has seen investments on headquarters hit $242m in the first nine months of 2023 alone,...In 2023, 46.7 percent of newly established headquarters operate in the Software & IT services sector.
The Regional Headquarters (RHQ) Program is an initiative jointly developed by the Ministry of Investment (MISA) and the Royal Commission for Riyadh City.
Riyad Bank Saudi PMI down to 57.5 points in November
Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Manager's Index (PMI), formerly S&P Global Saudi Arabia PMI,...The index continued to signal a rapid expansion in the non-oil private sector in November,
Higher raw material prices led to a continuous increase in corporate sales prices, but demand remained strong.
Putin to visit UAE, Saudi Arabia for talks amid OPEC output cuts
Russian President Vladimir Putin, according to his aide Yuriy Ushakov, will first arrive in the UAE this week and then...The announcement of the visit follows the recent OPEC decision to cut oil production by 2.2m bpd in Q1 of 2024
Saudi Arabia, as the world's largest exporter, will see a reduction of 1 million barrels per day
ADQ and Qazaqstan Investment Corporation set up ‘investment platform’
Abu Dhabi, UAE--ADQ and Qazaqstan Investment Corporation have established a co-investment platform focused on high-growth sectors such as food and...The investment platform will seek to explore and leverage investment opportunities in Kazakhstan as well as other countries in the Central Asia and Caucasus region
As part of the initiative, ADQ and Qazaqstan Investment Corporation will be committed to making equal financial and operational contributions to each investment
Islamic finance poised to reach $4 trillion by 2026
Islamic finance, with 70% of sector assets, is revolutionizing the global economy through ethical practices and digital innovation, gaining widespread...Islamic finance, with 70% of sector assets, is revolutionizing the global economy through ethical practices and digital innovation, gaining widespread traction.
GCC and MENA regions lead in Islamic finance assets, with significant growth in markets like Russia, Canada, and the USA, driven by an 18% annual fintech rise.
Biodiversity credits demand may rise to $180bn annually by 2050
The transformation hinges on nearly all major companies adopting nature-related goals, with biodiversity credits playing a major role.Biodiversity credits are a novel financial instrument that could play a major role in contributing to a nature-positive future, explains the WEF report
The WEF’s Global Risks Report 2023 has ranked biodiversity loss and ecosystem collapse as one of the top five threats to humanity over the next ten years
Saudi, Turkish firms ink 8 deals to boost Riyadh-Ankara business
Istanbul, Turkey - Saudi and Turkish companies, part of the Saudi-Turkish Business Council, signed eight trade agreements to strengthen trade...The firms discussed investment opportunities in the two countries, especially those envisaged in the Saudi Vision 2030 and Turkish economy.
The volume of trade between Saudi Arabia and Türkiye reached SAR22 billion ($5,864,813,240) in 2022, recording a growth rate of 32.6 percent.
Turkish Airlines, Riyadh Air ink MoU
The pact will benefit customers of both the airlines.The establishment of Riyadh Air is in line with PIF’s mandate to unlock the capabilities of key sectors locally to drive the diversification of Saudi Arabia’s economy.
The airline will support the Saudi Aviation Strategy's broader vision, and enable the National Tourism Strategy, unlocking Saudi Arabia's cultural and natural attractions.
