UAE economy set to post strong growth in second half of this year

• The economy is expected to sustain its growth on the back of a rise in the purchasing managers' index to its highest level in five months in May this year
• The robust increase in new business, according to the S&P Global, underlined growing confidence across surveyed firms about economic prospects

AI helps KSA rule Global Government Strategy Index

• Saudi Arabia's impressive performance in the 2023 Global AI Index is attributed to its comprehensive National Strategy for AI and dedicated government agency
• Germany ranks second, while China takes third spot in the Tortoise Intelligence's Government Strategy Index for AI that evaluates 100 criteria across seven indicators

Saudi tourism on growth path despite hiccups

• The $500 billion development on the Red Sea coast, which will include luxury resorts, residential developments, and a nature reserve, is one of the key tourism projects.
• The Kingdom is also developing the UNESCO World Heritage Site of AlUla into a major tourist destination.

Israel okays deal with Lockheed Martin to buy F-35 fighter jets

• In May 2018, Israel's military said it had become the first country to use F-35s in combat.
• The deal to purchase 25 F-35 jets- expected to be signed in coming months - will expand the country's fleet of the aircraft to 75.

Sharjah’s literary organization SILA gets new director

• Since its creation in 2020, SILA has boosted communication between publishers, authors, translators, illustrators and other stakeholders.
• SILA also ensures publishers’ and writers’ rights are protected and stimulates the Arabic publishing market.

Iraq’s oil export revenues in June hit $7 billion, says SOMO

Iraq exports crude oil worth over US$7bn in June 2023

• The majority of these exports - amounting to almost 99 million barrels - originated from the oil fields in central and southern Iraq.
• The average daily export volume was pegged at over 3.3 million barrels. The average price per barrel for the month was recorded at $71.11.

Sudanese pound stays strong despite ongoing conflict

• Dr. Omar Khlaif Gharaibeh identifies localized conflict and reliance on local investment as key factors in maintaining currency stability
• Central Bank of Sudan's role in bolstering confidence in the banking sector is also crucial, adds the Al Al-Bayt University's Associate Professor

DEWA develops gateway connecting terrestrial sensors to satellites

• The gateway was developed by DEWA's Research and Development (R&D) Centre as part of the Space-D program.
• The device complies with international IoT device security standards, including OT security, the statement reads.

Iran makes US$54 billion in revenue from export of oil in 2022

• According to the estimate, Saudi Arabia earned the highest net oil export revenue among OPEC members in 2022, standing at $311 billion
• Iraq came second at $131 billion, followed by the United Arab Emirates with $119 billion, and Kuwait came fourth at $98 billion