Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...
Business
Qatar real-estate trading volume in January stands at US$521m
Doha, Qatar--The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry...
Business
Business
Saudi Customs impound 8.3m amphetamine pills
The Saudi Zakat, Tax and Customs Authority has made a large seizure of Captagon amphetamine pills at Jeddah Islamic Port,...
- The authority explained that the first consignment, which contained onions, was subject to customs procedures and examination through security techniques and police dogs
- Three people were arrested by the General Directorate of Narcotics Control
Business
World’s first ‘experiential food & bar hall’ officially open
A 20,000 ft space, the experiential, urban food and bar hall spans across the UAE’s iconic waterfront destination The Pointe.
- A 20,000 ft space, the experiential, urban food and bar hall spans across the UAE’s iconic waterfront destination The Pointe
- The venue, which seats 600 guests, and 1200 guests at full capacity, offers consumers an exceptional multi-sensory dining experience unlike any other
Business
RAK International Airport is ops base for ActionFlight
The overall deal is expected to help support Ras Al Khaimah’s strategic plans to expand its travel and tourism landscape.
- The collaboration is expected to see RKT become a hub for aerial experiences such as aerobatic flights, skydiving, and hot-air ballooning
- The agreement also means the airport will act as a base for Vertical, ActionFlight’s advanced pilot training program
Business
Dubai saw real-estate deals worth $1.23bn this week
During the week ending January 14, the transactions numbered 1,559, according to the Dubai Land Department.
- A total of 219 plots were sold for AED1.12 billion (around $305 million) in Dubai
- Meanwhile, 1,022 apartments and villas were sold for AED2.25 billion ($612.66 million)
Business
‘Google, Facebook OK’d pact’
Suit says Big Tech giants hold online monopolies
- The records, part of an anti-trust lawsuit by a coalition of US states targeting Google, make serious allegations against Big Tech giants long accused of holding monopolies
- According to the states' accusations, the online search colossus sought to oust competition by manipulating ad auctions
Business
Saudi Arabia seeks to be regional mining force
Saudi authorities seek to promote mining investments and increase its contribution to the GDP to meet the Saudi Vision 2030...
- Saudi Arabia aims to achieve 75 percent localization in the energy sector by 2030
- Saudi mineral wealth value is more than $1.3 trillion, including phosphate and bauxite minerals
Business
Google buys $1bn London office
It is buying the Central St Giles office site, where it is a tenant.
- Google, however, stressed it remained committed to new hybrid working patterns in the wake of Covid-19
- It said it would give the site a multi-million-pound overhaul for flexible working patterns, including outdoor work spaces
Business
Way paved for launch of first Mideast Steigenberger Porsche Design Hotel
Saudi Arabia's Tourism Development Fund has signed an MoU with Deutsche Hospitality, the umbrella brand of the German hotel company...
- Saudi Arabia's Tourism Development Fund has signed an MoU with Deutsche Hospitality, the umbrella brand of the German hotel company Steigenberger Hotels AG.
- Tourism Development Fund provides support to small, medium, and large enterprises and solutions tailored to suit the needs of investors.
Business
Tibbiyah of Saudi Arabia to offer 5m shares through IPO
Tibbiyah of Saudi Arabia that also goes by the name of the Arabian International Healthcare Holding will offer 5 million...
- The company’s capital is divided into 20 million shares
- The offer price will be determined before the subscription period, which will begin on Tuesday February 15 and will end on Thursday February 17
Business
Indonesian student’s selfies fetch $1m in NFT sales
Sultan Al Ghozali, a computer science student at a university, has taken a picture of himself sitting in front of...
- He intended to use the collection of nearly 1,000 selfies to create a timelapse video for his graduation day.
- After learning about blockchain technology, the 22-year-old decided to upload the photos to NFT trading platform OpenSea under the title "Ghozali Everyday"
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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
Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...
Business
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Are ‘unethical’ PR tactics harming GCC journalism?
Investigation
Are ‘unethical’ PR tactics harming GCC journalism?
Investigation
Qantas posts bumper profit
The airline's annual profit climbs up to US$1.1 billion.
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Business
Markets surge as traders await Powell speech, Nvidia results
A rally in Nvidia helped propel gains in global markets earlier this week, though traders could not keep up the...
- All eyes are on a planned speech Friday by Fed chief Jerome Powell, with dealers hoping for some clarity on its plans to keep inflation on a downward path.
- Investors are also awaiting earnings from Nvidia, which is tipped to post forecast-busting revenue in the second quarter thanks to the surge in demand for its processors.
Business
Iran-China trade down 11 percent to $8.5 bn in seven months
Tehran, Iran -- The trade exchanges between Iran and China in the first seven months of the current year reached...
- China’s top exports to Iran are mainly auto-industry related such as motor vehicles, parts and accessories, vehicle bodies (including cabs) and spark ignition engines.
- China top imports from Iran are ethylene polymers, refined copper, raw aluminum, Iron ore and acyclic alcohols.
Business
One fourth of all investors in state securities have left Russia: Minister
Moscow, Russia -- One fourth of all investors in state securities have been forced to leave the Russian market due...
- Russia's Finance Minister Anton Siluanov the government will find ways to replace the investors to create funds required for development of the economy.
- Moscow's incursion into Ukraine has made Russia the most sanctioned country in the world. Western nations have regularly increased the sanctions.