Saudi RCU begins rock excavation for Sharaan Resort in AlUla
ALULA, SAUDI ARABIA – The Royal Commission for AlUla (RCU) has marked a significant milestone in the development of the...
Arts & Culture
Türkiye’s traditional realty charm: Alive or fading?
Driven by its strategic location, cultural heritage, and government incentives, Türkiye's real estate market remains a focal point for regional...
Business
Economy
In fair phase-out of oil, gas-rich nations should stop first: Report
For a 50/50 chance of limiting the rise in global temperatures to 1.5C, 19 countries in which per capita GDP...
- The overarching objective, enshrined in the 2015 Paris Agreement, is to cap global warming ‘well below’ 2C, and 1.5C if possible
- A torrent of research since 2015 has confirmed that the lower aspirational target is by far a safer threshold
Business
UAE looks to accelerate trade cooperation with Turkey
The FCCI is keen to enhance cooperation with MÜSİAD and utilize the momentum provided by Expo to intensify relations between...
- The two sides reportedly discussed ways to enhance trade ties between FCCI and MÜSİAD
- They are also said to have focused their discussions on the prospects of growing cooperation
Opinion
Investments key to improve region’s telecom services
There is so much more the industry can explore through digital engagement, including digitizing products and services, gamifying experiences, creating...
- In today's digital economy, personalized experiences have become a prerequisite for companies wanting to achieve bigger gains
- The pandemic has proved that more customers place quality networks and services above the pricing amount while making purchasing decisions
Arts & Culture
Marilyn Monroe portrait may fetch $200m at auction
Christie's said it expects Andy Warhol's 1964 "Shot Sage Blue Marilyn" to become the most expensive 20th century artwork when...
- Christie's described the 40 inch (100 centimeter) by 40 inch portrait as "one of the rarest and most transcendent images in existence."
- Warhol began creating silkscreens of Monroe following the actress's death from a drug overdose aged just 36 in August 1962.
Economy
Saudi Arabia Railways opens tickets for train to strategic Al Qurayyat
Saudi Arabia Railways "SAR" has opened online booking of tickets for train services via the North Train to and from...
- The services starts on March 31, 2022, with a long-distance journey of 1,215 km by passenger train between Riyadh and Al-Qurayyat.
- Saudi Arab Railway stated that such a step comes in conjunction with the inauguration of the Al-Qurayyat passenger train station on March 30, 2022.
Business
Russia warns embargo on its oil imports will impact everyone
An embargo on Russian oil imports, pushed for by some European countries over Moscow's military action in Ukraine, would have...
- Some EU countries including Baltic states have called for an embargo on Russian oil and gas
- EU foreign ministers on Monday are meeting to discuss the situation in Ukraine
Business
UAE sanctions crowdfunding for public and private sectors
The Cabinet approved the UAE System for Crowdfunding Platform Operators, stressing that the Securities and Commodities Authority (SCA) will be...
- The strategy covers all technical aspects associated with the regulation of crowdfunding platform operators
- It also addresses supervision, inspections, and penalties
Business
Saudi Arabia warns of ‘direct threat’ to global supplies from attacks
Top crude exporter Saudi Arabia warned Monday that Yemeni rebel attacks on the kingdom's oil facilities pose a "direct threat"...
- Saudi Arabia "will not incur any responsibility" for shortages in oil supplies in light of the Iran-backed Houthi attacks, the foreign ministry said in a statement
- The statement comes a day after the kingdom acknowledged a temporary drop in production after the Houthis attacked a refinery with an armed drone
Business
Egypt and Saudi Arabia to boost bilateral economic cooperation
Hala Al-Saeed, Egypt’s minister of planning and economic development, discussed ways to enhance future cooperation between Egypt and Saudi Arabia...
- A discussion was held between Egypt's minister of planning and Saudi Arabia's minister of trade.
- The minister of Egypt stressed her keenness to consolidate relations between the Egyptian and Saudi business communities.
Business
Stellantis MENA shipments up
Expansion into 10 new countries MENA countries strong driver for growth.
- The UAE saw a 41 percent increase across all brands from the same period last year, with Jeep increasing sales from 25 percent and PEUGEOT increasing by 70 percent.
- Saudi Arabia witnessed a 36 percent growth across all Stellantis products with PEUGEOT being the automaker’s highest performing brand with a 222 percent growth.
Saudi RCU begins rock excavation for Sharaan Resort in AlUla
ALULA, SAUDI ARABIA – The Royal Commission for AlUla (RCU) has marked a significant milestone in the development of the...
Arts & Culture
Company News
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TCS Q1 profit at US$1.35bn
Business
Iran exports goods worth US$9.1bn to BRICS nations from March to August
Tehran, Iran--Iran has exported 27.7 million tons of goods worth $9.1 billion to BRICS member countries from March 21-August 21,...
Business
Evergrande pauses trading on Hong Kong exchange
The Chinese company had only just resumed trading a month ago, after it was suspended for 17 months for not...
Business
QatarEnergy signs US$3.90bn deal with HD Hyundai to build LNG carriers
Seoul, South Korea--QatarEnergy has signed US$3.90 billion worth agreement with Korea's HD Hyundai Heavy Industries (HHI) for the construction of...
Business
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Business
Masdar and PLN NP to triple size of Southeast Asia’s largest floating solar plant
Abu Dhabi, UAE--Masdar and PLN Nusantara Power (PLN NP) have signed an agreement to develop Phase II of the successful...
- The clean energy partnership between the UAE and Indonesia saw further consolidation when the two companies signed the deal to expand FPV plant
- The UAE company has developed the region’s largest floating solar facility, the 145 MW Cirata floating solar PV plant in a joint ventre with PT PJB, now PLN NP
Economy
Ras Al Khaimah’s first organic fertilizer project to cost $20m
Ras Al Khaimah, UAE - Ras Al Khaimah’s is building its first organic soil fertilizer project at a cost of...
- The company will also carry out research on the creation of unique methods of cultivating plants, medicinal and valuable fungi
- It will also be farming fruits, vegetables and berries, both indoors and outdoors, and conduct organic animal husbandry
Automation revolutionizes financial business models
The financial services sector is witnessing transformative changes, driven by rising demands for personalized services and the integration of cutting-edge...
- The financial services sector is witnessing transformative changes, driven by rising demands for personalized services and the integration of cutting-edge technologies
- Projected to hit $949bn by 2030, FinTech investments spotlight trends like open finance, decentralized finance and digital assets, while open banking enhances decision-making