World’s only Dragon Ball theme park launched in Saudi Arabia’s Qiddiya City
RIYADH, SAUDI ARABIA – The Board of Directors of the Qiddiya Investment Company (QIC) revealed on Sunday the launch of...
Arts & Culture
Business
Qatar non-energy private sector firms record strong growth in July
Doha, Qatar -- Non-energy private sector companies recorded the second highest growth in 2023 so far, according to the latest...
- Growth rates for output, new orders, employment and purchasing increased, and the 12-month outlook remained firmly positive, the data from Qatar Financial Center said.
- Data for July 2023 indicated another increase in employment in non-energy private sector economy in Qatar, at the fastest rate since July 2022.
Business
Milaha posts marginal profit in H1
Its net profit jumped 1.1 percent to US$178 million.
- Its earnings per share (EPS) amounted to QR 0.57 as of 30th June 2023 as against earnings per share (EPS) of QR 0.56 for the same period in 2022
- The company's net profit in 2022 climbed to $278 million in comparison to a net profit of $199 million for the same period of the previous year
Business
Dubai mega-wheel billed as world’s largest stops turning
Ain Dubai (Dubai Eye) was designed as a tourist-luring landmark in the United Arab Emirates' glam-hub, which is home to...
- The giant wheel, made of more steel than the Eiffel Tower, features prominently on the list of Dubai's top tourist attractions
- With no official explanation, rumours are rife on the Ferris wheel's apparent technical issues, especially among employees at Bluewaters
Business
Oman’s natural gas production climbs up 2.3 percent at June end
Muscat, Oman-- Oman's total domestic production of natural gas shot up 2.3 percent to 26.19 billion cubic meters (CBM) until...
- According to the National Center for Statistics and Information (NCSI), industrial projects accounted for 58.7 percent of the natural gas use at 15.39 billion cubic meters
- Data showed that the total use of natural gas for oil fields amounted to 6.76 billion cubic meters, power plants at 3.89 and industrial areas at 131.50 million cubic meters
Business
To boost tourism, Saudi Arabia expands visitor e-visa to eight more countries
Riyadh, Saudi Arabia-- Looking to boost leisure, business and religious travel to the kingdom, Saudi Arabia will grant visitor e-visa...
- The kingdom's visitor e-visa is valid for an entire year, grants multiple entries, and permits a stay of up to 90 days
- The oil-rich country has seen rapid growth in tourism due to its visa initiatives, which now include 57 nations
Business
UAE tops MENA startup funding, followed by KSA, Egypt
MENA startups secured US$95 million in July 2023 across 31 deals; equity investments hit US$55 million, boosted by One Moto's...
- MENA startups secured US$95 million in July 2023 across 31 deals; equity investments hit US$55 million, boosted by One Moto's US$ 40 million round
- UAE startups garnered US$14 million without One Moto's contribution, while Saudi' Arabia's Foodtech Kaso clinched US$10.5 million in its Seed round
Business
Office rents in Saudi Arabia’s capital grow 12-14 percent in Q2: Report
Riyadh, Saudi Arabia -- Most of Saudi Arabia's real estate market sectors recorded growth in the second quarter of 2023,...
- Grade A office rents in the capital Riyadh growing by 12.2 percent and Grade B rents rising by 14.4 percent year-on-year.
- The residential sector saw a decline in transaction volumes by 38.1 percent in the year to June 2023.
Business
Saudi Arabia’s PIF creates 181,000 jobs in 2022, boosts economy
Saudi Arabia's employment figures received a significant boost in 2022, thanks to the efforts of the Public Investment Fund (PIF),...
- The sovereign fund has ambitious goals and aims to increase its assets under management to SAR4 trillion by 2025.
- The fund's assets under management also saw substantial growth, increasing by 12.8 percent to $595 billion in 2022.
Business
PIF sets up SRJ Sports Investments firm
The investments are expected to localize partnerships.
- The new company will target businesses specialized in offering unique fan engagement activities and transformative sports technology.
- This firm will help bolster Saudi Arabia’s position as one of the world’s leading sports and entertainment destinations.
Business
Jordan-Egypt trade expands to US$355.43m in first five months of 2023
Amman, Jordan--Trade between Jordan and Egypt expanded to $355.43 million in the January-May period of the current year, according to...
- The exports to Egypt however showed a decline in the five month period, falling to $63.46 million as against $93 million for the same period last year
- There was a fall in the imports from Egypt to Jordan too, declining to $292 million by the end of May, as compared to $333 million last year
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Imane Ayissi brings African tradition to Paris couture
PARIS, FRANCE - Imane Ayissi is on a mission to put authentic African textiles in the spotlight but faces an uphill...
Business
European market up on record-busting Wall Street
A surge in tech titans including Apple, Amazon, Nvidia and Facebook parent Meta on Friday pushed New York's S&P 500...
Business
Mac computers could reach new glory due to AI
SAN FRANCISCO, US - Forty years after igniting a PC revolution, Apple's Mac is stronger than ever and could reach new...
Business
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Business
Alef Group announces US$84m sales transaction at ACRES 2024
SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant...
- ACRES Exhibition is a unique global Arab platform which brings together major investors and businessmen.
- This is evident in the success achieved by the ACRES over its successive sessions since its launch in 2008.
ACRES 2024 concludes, deals worth $381 million inked
Sharjah, UAE -- Real estate deals worth more than AED 1.4 billion ($381 million) were inked at ACRES 2024, organized...
Business
Threat of AI-powered phishing is on the rise
"Technologies such as Generative AI presents new security challenges. The rise of automated spear phishing necessitates reevaluating our trust heuristics....
- Generative AI is driving a surge in sophisticated spear phishing, automating attacks via social media scraping and credential stuffing, transforming the cybersecurity landscape.
- The emergence of tools like WormGPT and FraudGPT on the dark web, coupled with cybercrime's ranking as the world's third-largest economy, is fueling innovative phishing techniques.