‘Dubai, Abu Dhabi, Riyadh, Bahrain have reinforced position as top GCC tourist spots’
GCC region is a hidden gem, offering a distinct blend of Arabic culture and history, Fahim Jalalli, CEO of Kanoo...
Business
Saudi Arabia, Jordan discuss ways to enhance maritime transport relations
A joint panel of the two countries discuss the mechanism to develop and modernize previous agreements related to maritime transport.
- The two countries review the latest developments in the maritime transport sector and ports
- The Saudi-Jordanian Technical Committee for Maritime Transport is holding its third session in Aqaba
Business
Iraq to France: Ready to supply European markets oil
Iraq's State Organization for Marketing of Oil (SOMO) has said it approached France about the possibility of Iraq's supplying the...
- About 60 percent of Russia's exports of crude oil go to the European continent, but in the shadow of Ukraine war, it will need new suppliers.
- Italian Prime Minister Mario Draghi recently visited gas powerhouse Algeria as Rome steps up efforts to reduce its heavy reliance on Russian energy imports.
Business
Dubai launches unified electronic platform for building permits
The Dubai Building Permit Development Committee has completed the unified electronic platform for building permits, which includes building permit services...
- The platform is set to provide distinguished services to consultancy offices and contracting companies, according to a statement.
- The window includes building licensing services of Dubai Municipality and Dubai Development Authority among others.
Business
UAE brings in new classification system for private sector
A new classification system for companies in the private sector came into force on Wednesday, according to the Ministry of...
- The new system depends on the extent of companies’ compliance with the law and Wage Protection System and workers’ rights protection
- The classification offers incentives to companies that commit to the prescribed laws and policies on promoting cultural and demographic diversity
Arts & Culture
Disney+ releases a sneak peek at the content line up for MENA region
Disney+ has finally unveiled an extensive sneak peek at the line-up for the Middle East and North Africa (MENA).
- Disney+ has finally unveiled an extensive sneak peek at the line-up for the Middle East and North Africa (MENA)
- Disney+ is the dedicated streaming home for movies and shows from Disney, Pixar, Marvel, Star Wars, and National Geographic, along with The Simpsons and much more
Interview
Are casinos a haven for money laundering?
Casinos often prefer to close their eyes to how clients finance their bets, allowing their tables to become conduits for...
- Martini said that casinos have been willing to turn a blind eye and not do extensive checks on their customers
- She said that dirty money earned from illegal activities can be brought into casinos and no one asks any questions
Business
Global chip shortage likely to last through 2023: US official
The global shortage of critical semiconductors is likely to last at least through next year and perhaps longer, US Commerce...
- Dozen of CEO's including chipmakers met with Gina Raimondo to discuss shortage and all agreed that ''possibly in early 2024 or before we'll see real relief''
- US Commerce Secretary repeated her call for Congress to act to provide funding for legislation that aims to stimulate domestic manufacturing of the computer chips
Business
UAE, Saudi Arabia set new halal economy goals for GCC
Beside halal food business, Islamic banking holds the largest share of the Sharia-compliant industry, says Nik Joharris Nik Ahmad, country...
- The expansion of the global halal industry has resulted in a steady increase in its market size from $3.2 trillion in 2014 to $5.6 trillion in 2021
- Stringent regulatory norms, including mandatory halal labeling and certification rules for food and beverages, are propelling the market growth
Economy
Jordan’s oil expenditure up by nearly 50 percent in Q1 2022
Jordan's oil bill went up by 49.1 percent in Q1 2022, compared to the same period in 2021, the Department...
- The value of the oil bill in Q1 2022 increased to JD761 million compared to JD510 million in the same period of 2021.
- Jordan’s crude oil import amounted to JD126 million, followed by gasoline with JD142 million and kerosene with JD9 million.
Business
ADX lists GFH Financial Group
The listing is set to expand GFH’s investor base and boost its share liquidity.
- This is GFH’s fourth regional listing with its shares already listed and actively traded on the Bahrain Bourse, Boursa Kuwait and the Dubai Financial Market
- The listing of GFH Financial Group on Abu Dhabi Securities Exchange brings the number of dual listings on the exchange to four
‘Dubai, Abu Dhabi, Riyadh, Bahrain have reinforced position as top GCC tourist spots’
GCC region is a hidden gem, offering a distinct blend of Arabic culture and history, Fahim Jalalli, CEO of Kanoo...
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Business
Saudi Arabia’s economy to grow 3.2% from 2023-2026: Moody’s
Riyadh, Saudi Arabia -- Saudi Arabia’s economy is expected to grow by 3.2 percent on average between 2023 and 2026,...
Economy
Most Read
Markets in retreat on growing fears of Middle East war
With Benjamin Netanyahu building up a huge force ahead of an expected land incursion into Gaza, Iran has warned of...
- The prospect of an all-out war pushed oil prices up Wednesday, though Washington's decision to suspend some sanctions on Venezuelan output tempered the gains
- Risk aversion among traders was increased by concerns the Federal Reserve would hike interest rates again, or at least keep them elevated for an extended period
Business
Bahrain EDB attracts $295m in IT sector as part of total investments worth $1.4bn
Manama, Bahrain--Bahrain Economic Development Board (Bahrain EDB) has attracted $295 million in direct investments within the Information and Communications Technology...
- The direct investments from 14 local and international projects for the ICT sector are expected to generate over 1,600 jobs within three years
- A top EDB executive said the growth of the ICT sector is a priority for Bahrain and remains a contributor to the diversification of the national economy
Business
Saudi Arabia offers to fund Iraq’s largest housing project
Baghdad, Iraq - Saudi banks have offered to fund Iraq's largest housing project, which was previously stalled by South Korea's...
- Some Saudi banks have expressed their interest in contributing funds, along with several Iraqi banks and foreign investment companies
- The Bismaya project had already seen the construction of approximately 30,000 out of the planned 100,000 houses near the capital Baghdad