Saudi Arabia partners with World Bank to launch global knowledge hub in RiyadhÂ
According to World Bank Group President Ajay Banga, “The new Knowledge Hub being created by the World Bank Group and...
Business
Boeing CEO says company can’t afford another mistake: report
Boeing CEO Ortberg told workers a trade war with China would weigh heavily on Boeing. The meeting came about two...
Business
Lebanese man who took bank staff hostage let off
Bassam al-Sheikh Hussein held bank staff hostage in Beirut last week to demand access to his trapped savings. After a...
- A judicial official said that Hussein has since been released but still faces possible charges by the state
- The state media reported that he took the drastic action to access his savings so he could pay for surgery for his father
Business
ACWA Power to sign $2.4bn wind power project deal in Uzbekistan
ACWA Power Company will join hands with Uzbekistan in order to enter into a $2.4 billion deal for a 1,500-megawatt...
- It will be the biggest onshore wind project in the region and will contribute 19 percent to Uzbekistan’s overall renewable energy goals
- The plant once completed will power 1.65 million households and offset 2.4 million tons of carbon emissions per year.
Business
Musk says tweet about buying Manchester United was a joke
The world's richest man has a habit of posting provocative statements on Twitter for fun and Musk was at it...
- Musk, who recently sold nearly $7 billion worth of Tesla shares, is in a major legal battle in the US state of Delaware over his aborted plan to buy Twitter
- Manchester United, one of the biggest clubs in world football but suffering a prolonged slump, are owned by the Glazer family
Business
Dallah reports 52% profit rise
The healthcare company saw its profit vault to $40m in H1.
- The company's stock however posted a 1.9 percent drop in early Tuesday trading, but then rebounded to close 0.9 percent higher at SR118
- The uptick in revenues came on the back of continued growth in operations and higher hospital admissions during the six-month period
Business
Abu Dhabi Airports teams up with ICP to boost passenger service
The partnership aims to achieve the highest levels of service excellence at all terminals and facilities of Abu Dhabi Airports.
- The agreement stems from Abu Dhabi Airports and ICP’s keenness to adopt best practices in areas of security, safety and air transport
- Shareef Hashim Al Hashmi, CEO of Abu Dhabi Airports, said the collaboration is intended to enhance passenger experience at Abu Dhabi airports
Business
Qassim Cement’s profit tumbles
The Saudi firm posted a 73% fall in profit to $14m in H1.
- Following the news of financial results, the company stock tumbled 2.45 percent at the end of Tuesday's closing
- Its revenue also declined by 30 percent during the first half to stand at $78.66 million
Analysis
Policies, infra make Dubai hub for talent, innovation
For decades, the emirate has been a global player with a plethora of capital, talent, corporate tax incentives and ground-breaking...
- For decades, the emirate has been a global player with a plethora of capital, talent, zero corporate tax and ground-breaking technologies, says the latest BCG report
- Dubai's unfettered access to global consumer markets makes business activities such as innovation, hospitality, logistics and tourism easier to perform than anywhere else
Business
US acts to make hearing aids affordable
In October, the cost of hearing aids will be down by an estimated $2,800 per pair as there would be...
- At $5000 a pair, safe and effective and high quality hearing aids have been unaffordable for many Americans.
- Children, as well as people with severe hearing loss, would still need a prescription.
Economy
UAE busy in strengthening its food security system
The UAE is strengthening its food security system through policies that include promoting cooperation with other countries and markets, diversifying...
- The UAE is strengthening its food security system through policies that include promoting cooperation with other countries and markets.
- The policies include diversifying sources, attracting local and foreign agricultural investment.
Business
Kuwait’s National Fund shored up 132 SMEs during pandemic
Kuwait's National Fund for SME Development (SME Fund) has helped resolve the problems of 132 small and medium-sized enterprises (SMEs)...
- Founded in April 2013 under Act 98, the government Fund approved establishing 1,422 projects and joint agreements with 992 SMEs.
- Some SMEs offered essential backing to the national economy during pandemic in areas such as medical services, logistics and foodstuff.
Saudi Arabia partners with World Bank to launch global knowledge hub in RiyadhÂ
According to World Bank Group President Ajay Banga, “The new Knowledge Hub being created by the World Bank Group and...
Business
Company News
Bank of China opens in Riyadh
Business
Rani R Raad is new CEO of IMI
Business
Latest News
Enbridge inks $14bn pact
Business
Saudi delegation takes part in Riyadh Expo 2030 symposium in Paris
PARIS, FRANCE - A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the...
Business
Qatar records 17-percent jump in building permits issued in October
Doha, Qatar--Qatar's Planning and Statistics Authority has given out 769 building permits in various municipalities in the country during the...
Business
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Business
Dubai witnesses green transit revolution
Dubai is actively implementing climate adaptation strategies and technologies in transportation and infrastructure to mitigate climate change effects and enhance...
- By the end of the decade, the emirate aims to have 10% of public buses run on hydrogen or electric powered, ramping up to 20% by 2035, 40% by 2040, 80% by 2045
- According to Sandalkhan, of BCG, Dubai aims to set a global standard in eco-friendly transportation and RTA's 2050 Zero-Emissions plan reflects that ambition
Business
Saudi EXIM Bank signs deals with African banks and institutions worth $185m
Riyadh, Saudi Arabia - Saudi EXIM Bank has signed multiple agreements and memoranda of understanding (MoUs) with African banks and...
- Saad Al-Khalb, the CEO of the Saudi EXIM Bank, signed Line of Credit agreements worth $185 million to finance Saudi exports of goods and services
- The agreements aim to support African economies, enhance trade and economic exchange between Saudi Arabia and African countries
Business
Saudi Arabia sets ambitious goals for mining sector
"We have begun discussions with 80 countries participating in the mining sector. ... An international platform has been established in...
- Saudi Arabia focuses on maximizing value from natural resources and developing mining investments.
- The Kingdom creates platforms for collaboration in mining, targeting the Middle East and Central Asia.