Jeddah Central Development Company signs 4 contracts worth $3bn
Jeddah, Saudi Arabia - The Jeddah Central Development Company, a company owned by the Public Investment Fund (PIF), signed four...Business
Investment in Qatar free zones reaches US$1.3bn, says QFZ chairman
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...Business Economy Geostrategy
Jordan saw its GDP grow 2.2% in 2021 as compared to 2020
The numbers come from a quarterly statistical report released on Sunday by the Department of Statistics.The country’s GDP inched up by 2.6 percent in the fourth quarter of last year compared to the same period in 2020
The construction sector expanded 6.1 percent in the reporting period, followed by the extractive industries at 5.6 percent
Empowering women with brands, drama therapy
Women from different countries across the Arab world face different challenges based on their situations, Kuwaiti Princess Sheikha Intisar tells...Kuwaiti Princess Sheikha Intisar Salem Al Ali Al Sabah remains optimistic about the road ahead for the Arab world
She gives a royal touch to philanthropic and entrepreneurial initiatives to promote education, women empowerment and human rights in the region
Saudi Venture Capital and Flat6Labs launch $40m seed fund
Saudi Venture Capital and Flat6Labs have teamed up to launch a $40 million startup seed fund.During the next three years, the fund aims to back startups with growth potential, and provide over 20 startups each year with seed capital
The fund’s size, which is around SR150 million ($40 million), will be utilized in the investment of early-stage startups operating in the technology and innovation sectors within S
France donates $5.5m to Jordan for a development project
The Jordan Education for Employment (JEFE) organization and the French Development Agency on Saturday signed a grant agreement worth 5...The refugees will be provided training and financial services as per the agreement
Both parties on Saturday signed a grant agreement worth 5 million euros to launch the project
Emirates Development Bank to facilitate $8.16 bn in lending by 2025
Emirates Development Bank (EDB) has said it will facilitate direct and indirect lending totaling AED30 billion ($8.16 billion) by 2025,...At its first Board meeting of 2022, the bank said it made AED1.91 billion contribution to the UAE’s GDP growth.
The bank launched a new Credit Guarantee platform, which was able to mobilize more than AED332 million of capital to SMEs.
Suez Canal posts 20% jump in revenue in Q1 of 2022
Suez Canal posted twenty percent increase in revenue in the first quarter of 2022 despite the Russian-Ukraine war disturbing the...The Suez Canal Authority recorded $1.7 billion revenue in the first quarter up from $1.4 billion a year earlier
The number of ships transiting the canal from January to March this year increased by 15.8 percent, to reach 5,303 ships, up from 4,581 ships during the same period last year
Petra records highest number of visitors since Covid pandemic
The ancient city of Petra in Jordan has registered the highest number of visitors since the start of the coronavirus...The city's visitors in March were: 43,533 of foreign nationalities, 3,859 from Arab countries and 6,504 Jordanians.
Only 4,656 visitors of all nationalities, most of whom were Jordanians and Arabs, made it to Jordan's main tourism attraction during the month of March 2021.
Tadawul bars three firms from trading in shares
Tadawul, the Saudi stock exchange, has barred three companies from trading in shares over their failure to issue financial statements...The exchange suspended Saudi Cable Co. shares from the main market
It also suspended Obeikan Glass Co. and Advance International Company for Communication and Information Technology from the Nomu parallel market
War casts its gloom on Swiss watch industry
Diamonds shine brightly at this year's Geneva watch fair but the sanctions slapped on Russia could soon force the Swiss...Luxury watchmakers exhibiting at Watches and Wonders depends on their reserves, as the major supplier of diamonds, gold, and other precious metals Russia faces worldwide sanctions
Switzerland is the chief importer of Russian gold, ahead of precious metals such as platinum followed by diamonds
UAE, Israel cooperate to advance maritime transport sector
The MoU is said to be in the field of maritime transport, exchange of experiences, and strengthening strategic partnership.The MoU aims to enhance cooperation between the two countries in the field of transport, especially maritime
It is also expected to help exchange experience and knowledge to serve the future directives for the next 50 years
