Saudi real estate sees new era of growth, innovation
The Kingdom's property sector is driven by a projected $3 trillion GDP by 2030 and evolving consumer preferences towards homes...Business
Bitcoin surpasses $57,000 as crypto rally remains strong
Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market...Business Economy
Saudi Arabia, Turkey sign deals during ‘Turk Expo 2023’ in Riyadh
Riyadh, Saudi Arabia--Saudi Arabia and Turkey have signed three agreements in the industrial sector during the Turkish Export Products Trade...The trade fair is designed to introduce the Turkish products and services to the Saudi market
Trade exchange between Saudi Arabia and Turkey in 2022 amounted to about $5.86 billion
US Fed, other central banks move to boost global dollar liquidity
The central banks will step up so-called swap line operations, which give non-US central banks greater access to dollars. "To...The special drive will be launched Monday by the Fed and the central banks of Canada, the UK, Japan, the EU and Switzerland
The announcement came hours after Switzerland brokered the UBS takeover of its troubled Swiss rival Credit Suisse
MENA region shines more on the global energy map
The Abraham peace Accords between Israel and some Middle Eastern countries has paved the way for new cooperation and energy...Diplomatic efforts, capacity building, and support for sustainability make Middle East and GCC region significant in global energy arena, says an expert
Tension between Russia and western Europe prompts search for new energy sources, benefiting oil-producing companies in the region, adds Ritu Singh of Stone X
China third-largest investor in UAE, its top trading partner
The mutual investments between the two countries are witnessing continuous growth in various economic and commercial sectors, most notably real...Bilateral investments between the UAE and China reached nearly AED 44 billion (US$12 billion) until early in 2021.
Value of non-oil intra-trade between the two countries amounted to more than AED 264.2 billion (US$72 billion) in 2022.
Dubai’s tech sector gains greater popularity
Dubai boasts a thriving community of startup incubators and accelerators, as well as regulatory sandbox schemes for the development and...The city tops the list for foreign direct investment (FDI) and technology transfer in startups, AI and robotics sectors.
UAE's strategic location between Asia, Africa, and Europe is one of the key reasons Dubai is a desirable destination for both tech startups and global tech giants.
Arabian Drilling posts profit
The company posted a 23% increase in revenue.The capital expenditure rose materially by 606 percent with a total spending of SAR 1.7 billion.
The company said the "strong cash position" achieved in 2022 was driven by the proceeds generated from the IPO of SAR 872 million
UAE, Serbia discuss cooperation in R&D, innovation
BELGRADE, SERBIA - UAE Minister of State for Public Education and Advanced Technology Sarah Al Amiri discussed cooperation in research...The UAE minister discussed ways to enhance cooperation between the two nations in her visit to Serbia.
She also discussed ways and means to strengthen the education system and vocational schools.
AD Ports to invest $200m for building port in Egypt, signs 5 pacts
Dubai, UAE -- AD Ports Group said Sunday it has signed a concession agreement to develop and operate a multi-purpose...These agreements are aimed at enabling a major expansion of the AD Ports’ activities into Egypt, the Group said in a statement.
Safaga terminal will be developed over an approximate area of 810,000 square meters and is set to be operational in Q2 2025.
Qatar-France trade grows to US$4.5bn, in sign of warming ties
Doha, Qatar--In a sign of growing business ties between Qatar and France, trade between the two countries has increased by...Qatar Chamber took part in the Arab French Economic Summit 2023 in Paris run under the theme "a partnership that must be forged in a world in crisis"
Khalifa bin Jassim Al-Thani, Chairman of Qatar Chamber, affirmed his keenness to enhance cooperation between the Qatari and French private sectors
Qatar releases blockchain ‘blueprint’ to foster climate for entrepreneurship
Doha, Qatar-- Qatar’s Communications Regulatory Authority (CRA) released the National Blockchain Blueprint prepared in partnership with Hamad Bin Khalifa University...The initiative is designed to build a legislative basis for blockchain, establishing a strong foundation for the government’s strategy in this sector
The blueprint outlines critical blockchain prerequisites and offers suggestions for attaining the intended goals
