MENA print media revenues fell 30% from 2018 to 2022: survey
The report stresses the urgent need for MENA news organizations to overhaul business models, adopt digital strategies, and diversify content...
Economy
Egypt’s economy capable of facing challenges: Sisi
The Egyptian president also said the country’s economy was better equipped to meet the aspirations of the Egyptian people.
- These statements come in the aftermath of Egypt’s non-oil exports increasing 22 percent in July, as compared to the same period last year
- In fact, the International Monetary Fund has already predicted that the country’s GDP would grow 5.2 percent in the current fiscal
Economy
Iran to build 3GW renewable power plants
The move is a collaboration between Iran's Power Generation, Distribution, and Transmission Company, and the Iranian Fuel Conservation Company.
- There are currently 100,000 agricultural wells in the country that use diesel to pump water
- The construction of renewable power plants would save huge amounts of fuel in addition to supporting the power grid
Business
Qatar to host its own version of Geneva Motor Show
The organizers of the Qatar Geneva International Motor Show intend the event to take place every two years.
- The first edition of Qatar Geneva International Motor Show is planned for the autumn of 2022 or 2023
- The final dates are expected to be confirmed in the coming weeks, and the full concept will be revealed during GIMS 2022
Business
Iraq to rid its power woes with solar energy
Iraq has signed a deal with China to build a set of solar power plants that would produce 2,000 MW...
- The first plant will have a capacity of 750 MW, and the country will add more plants until it hits the 2,000 MW target
- Writing on a blog Iraq’s prime minister Mustafa Al-Kadhimi said this was one of the first such projects in the country
SRMG taps Japanese firms
It has struck a content deal with Japanese publishing houses.
- The partnership will enable SRMG to establish official channels with Shogakukan, Shueisha, and Kadokawa
- This will let it adapt and localize global content for Arab audiences
Business
Saudi banks cheer recovery with surge in loans
Driven by an increase in net loans and return on equity in the second quarter, Saudi Arabian banks are sitting...
- Saudi lenders increased their loan books by a net 13.1 percent from the previous three months
- Average return on equity was 11.0 percent
Business
More women in EGA management
EGA plans to have women in 25% of its supervisory roles.
- Two members of EGA’s Executive Committee are women
- EGA also employs more than 400 women around the world
Business
Obhur Bay, the go-to spot for pleasure seekers
To beat the sizzling summer heat, Obhur Bay is a go-to destination for many in Saudi Arabia. It is a...
- Surfing takes on a unique characteristic in the bay, as, in order for people to safely enjoy the sport, they are required to be highly skilled in terms of guiding the board
- Boat and jet ski competitions are also held throughout the year, and many resorts and hotels are found along the 11-km-long bay
Business
Plot of land on Red Sea sells for $352.7m
In one of the largest real estate deals in Jeddah this year, the Saudi Oger Company's "Arjuwan Red Sea Project"...
- The value of the endeavor amounted to more than $9.52mln for the land exceeding 281,000 sqm in a privileged location in the Alshatei district
- The Arjuwan Red Sea Project is one of the most promising and ambitious real estate projects in Jeddah
Business
Oman sets terms for top hotels to open event halls
Four and five-star hotels in Oman may open meeting and celebration halls, but must follow certain restrictions.
- Celebration and meeting halls in top hotels can function with a maximum of 35 percent capacity
- The hotels would have to allow entry to only those fully immunized with vaccines approved Oman
Company News
KEZAD, Al Ghurair Foods ink pact
Business
Latest News
DFM net profit surges 30%Â
Business
Saudi club Al-Ettifaq signs English footballer Jordan Henderson
Liverpool, United Kingdom - Liverpool captain Jordan Henderson completed his move to Saudi Pro League side Al-Ettifaq on Thursday, becoming the...
Business
Water loss, river pollution threaten Syrian fishermen’s livelihood
The battered country, where half a million died in the conflict, has also suffered the impacts of climate change, from...
Business
Major energy firms post sliding profits as oil and gas prices dip
Gas prices had soared last year after Russia cut gas shipments to Europe while oil markets were also rocked by...
Business
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Videos
Upskilling key to offset AI banking job losses
Increasing adoption of Artificial Intelligence in banking operations could lead to automation of nearly 52 percent of jobs by 2025....
- AI can be used to automate many of the routine tasks that are currently performed by bank employees, such as processing transactions, responding to customer queries.
- While AI could lead to job losses in some areas, it could also free up employees to focus on more complex and challenging tasks.
Business
Realty projects worth $1.10 billion completed in H1 in Dubai
Dubai, UAE -- Dubai witnessed the completion of nine real estate projects worth AED 4.06 billion ($1.10 billion) in H1...
- According to data issued by the Dubai Land Department (DLD), 392 real estate projects are currently being developed in the emirate.
- In the first half of 2023, the Dubai Land Department issued 4,416 real estate licenses, reflecting increasing demand for licenses for real estate various activities.
War-weary Yemenis drown torment in specialty coffee
The Arab world's most impoverished country, locked in an eight-year conflict between Houthi rebels and forces supporting the internationally recognized...
- Legend has it that Sufi mystics on Yemen's western coast were the first people to brew coffee beans back in the 15th century
- Yet Yemeni entrepreneurs have until recently focused on exporting their best product to wealthy overseas markets