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
Opinion
Goal: A just energy transition that’s equitable to all
It must be based on scientific, economic, and engineering facts, appreciate the multiple dilemmas and challenging trade-offs, and accelerate the...
- Record growth in renewables, representing over 80 percent of all new power-generating capacity last year, is the clearest sign yet that the energy transition is gathering pace
- Policies aimed at divesting from hydrocarbons too soon, without adequate viable alternatives, are self-defeating. They will undermine energy security, erode economic stability
Business
Qatar World Cup tickets sale to reach 2.5 million soon : FIFA
There are 3,010,679 tickets available altogether, with FIFA saying a "last-minute" sales period will open in the run-up to the...
- World football's governing body FIFA said that 520,532 were sold in the period between July 5 and August 16.
- In June, organizers said there had been "record-breaking" demand for tickets at a time when 1.2 million had been sold.
Business
‘RAK aims to increase number of hotel rooms in 5 years’
CEO of the Ras Al Khaimah Tourism Development Authority (RAKTDA) Raki Phillips said that the emirate’s tourism sector aims to...
- Ras Al Khaimah plans to increase the number of hotel rooms in the emirate over the next five years to 12,747 rooms
- The rooms would be provided by over 50 hotels and resorts that offer the highest levels of service to visitors
Economy
UAE announces new incentives to support emirati SMEs
The new incentives include classifying up to five enterprises under Tier 1 category per owner, instead of two enterprises, and...
- The enterprises that will benefit from the new incentives have to be members of accredited funds and programs that support SMEs in the UAE.
- Empowering SMEs is a strategic priority within the nation’s continuous efforts to develop the business sector in the UAE, said Khalil Al Khoori, an HR official.
Business
Ajman Chamber discuss economic ties with Mexican envoy
Director-General of the Ajman Chamber of Commerce and Industry (ACCI) Salem Al-Suwaidi received Ambassador of Mexico to the UAE Luis...
- The meeting between DG of Ajman Chamber and Mexican ambassador took place as part of the Chamber's efforts to diversify its external partnerships
- The two sides discussed economic cooperation and explored trade and investment opportunities between the two countries
Business
71 varieties displayed during Onaizah International Dates Season
More than 71 varieties of dates were on display in the auction arena of the Food City during the Onaizah...
- The most common and sought-after types are Khalas, Barhi, Majdoul, Khodari, and Sukkari. Al-Hamra, Aseelah.
- The health of dates is checked in the municipal laboratory and ascertained through control tours.
Business
DP World H1 net profit $721m
Growth was supported by higher revenue from acquisitions.
- The global port operator said this was a 51 percent year-on-year and added that it expects growth rates to moderate for the rest of the year.
- The company said its H1 revenue was $7.93 billion, a rise of 60 percent, supported by acquisitions, strong performance of feedering services and growth in high margin cargo.
Business
Al-Othaim posts $37m profit
The retailer said the profit soared due to growth in sales.
- The retailer said that its share in the profit of its associate Gulf Flour Milling Co. boosted this period’s results, as it was not recorded in the prior year
- The company incurred higher costs from opening new stores and enhancing competencies in senior positions
Business
G42 launches $10bn technology growth fund
The fund, to be managed by a subsidiary of G42, will invest in late-stage growth companies with disruptive technologies and...
- The fund will invest in late-stage growth companies with disruptive technologies and strong business fundamentals
- It will operate as a private equity investor, with a significant share of investment earmarked for high growth regions
Business
TikTok rolls out plan to fight US election misinformation threat
TikTok will use automated systems and human fact-checkers to assess the accuracy of content, prompting users to "reconsider" sharing posts...
- TikTok has rolled out an "Elections Center" that will help users know how and where to vote
- According to a recent Pew Research report, the social media giant has emerged as a top social media platform for US teens
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Company News
Ryanair inks pact with Joramco
Business
Latest News
Politics in fashion: Luxury brands react to Gaza crisis
From L'Oréal's controversy involving model Amena Khan to Chanel's significant financial pledge, the fashion industry is deeply entwined in political...
Business
Saudi civil aviation authority announces economic policy of sector
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) has announced the economic policy of the civil aviation...
Geostrategy
Saudia records 50 percent growth in operations during Umrah season
JEDDAH, SAUDI ARABIA - From the start of the month of Muharram until the end of Rabi' Al-Awwal, Saudia Airlines...
Business
Most Read
Economy
Britain grants 27 new oil and gas exploration licenses in North Sea
London, United Kingdom - Britain on Monday awarded 27 new licenses for oil and gas exploration in the North Sea as...
- The Conservative government has argued that drilling for new oil and gas is necessary to bolster Britain's energy security.
- Prime Minister Rishi Sunak recently softened policies aimed at the UK achieving net zero carbon emissions by 2050.
Business
Borouge reports 22% Q3 2023 net profit
The company has issued a dividend of $1.3 billion.
- Borouge’s Value Enhancement Programme delivered a $420 million positive impact in the first nine months of 2023
- The company has issued a dividend of $1.3 billion for the 2023 financial year, which equates to a 6.3% current dividend yield
Business
Chinese BYD posts record Q3 profit
The third-quarter profit of $1.42bn is its highest-ever single-quarter earnings.
- The figure was in line with BYD's previous forecast of between 9.55 billion yuan and 11.55 billion yuan in quarterly earnings.
- Electric vehicle demand has soared in recent years in China, which is the world's biggest producer of greenhouse gases in absolute terms.