Key MENA trends: M&A surge to five-year high, Saudi port activity rises in May
Qatar's foreign reserves rise 3.6 percent year-on-year despite a dip in bonds and treasury holdings, Iraq releases Australian and Egyptian...
Economy
New WEF report reveals how tech convergence will reshape industries
Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries...
Geostrategy
Business
RAKEZ highlights Ras Al Khaimah’s potential to Chinese business owners
RAS AL KHAIMAH, UAE - A top-level delegation from Ras Al Khaimah Economic Zone (RAKEZ) recently concluded its trip to...
- The RAKEZ delegation interacted with prominent Chinese business owners from a range of sectors.
- The team traveled through Shanghai, Suzhou, Qingdao, Tianjin, Guangzhou, Foshan, and Zhuhai.
Business
PIF sets up firm Badael to curb tobacco use in Saudi Arabia
RIYADH, SAUDI ARABIA- The Public Investment Fund (PIF) announced the establishment of Badael Company, which aims to develop, manufacture and...
- Badael aims to address the negative impact that smoking has on the well-being of the Saudi population.
- The company’s products are expected to help nearly one million people give up smoking by 2032.
Business
Ajman hotels posts 3% increase in revenues in Q1 2023
AJMAN, UAE - Ajman hotels and serviced apartments recorded a three percent growth in hotel revenues in the first quarter...
- Ajman tourism is looking for new ways to collaborate with local and international partners to advance the tourism sector by attracting new investments.
- The emirate of Ajman hosts 44 hotel establishments ranging from 1-star to 5-star hotels, resorts and luxury hotel apartments with 3,997 hotel rooms.
Economy
UAE issues transitional rules for Corporate Tax
The goal is to simplify establishing the initial balance sheet, guaranteeing a fair method for managing assets and liabilities preceding...
- The aim is to ease the process of determining the opening balance sheet, ensuring a fair and transparent approach for assets and liabilities
- The decision applies to certain assets and liabilities, such as immovable property, intangible assets, financial assets, and financial liabilities
Business
Saudi Arabia, UK ink pact to develop critical minerals supply chains
Riyadh, Saudi Arabia -- Saudi Arabia and the United Kingdom on Thursday signed an agreement to jointly develop critical minerals...
- The agreement marks a significant step in the global endeavor to increase the supply of critical minerals
- Critical minerals are vital in producing various technologies, including electric vehicles, wind turbines, and solar panels
Economy
Women’s role crucial to future tech development
“As we sit at the crossroads of the very future of humanity as it relates to technology, female influence, and...
- Sheikha Bodour Al Qasimi, President of AUS and SRTI Park, highlights the underrepresentation of women in the tech sector and urges for a rapid change
- She argues that providing women with leadership opportunities and including their perspectives in decision-making could lead to a better technology roadmap
Economy
Crypto experts leave US over obstructive regulations
DOHA, QATAR- Thousands of cryptocurrency industry developers have left the United States because of its negative stance towards the sector,...
- Regulators in the US have taken a tough line because of fears of money laundering and scams such as the FTX collapse.
- Other countries had been "very constructive" over regulation and attracted "a huge amount of talent," said Smith, CEO of blockchain.com
Business
Brazilian group seeks trade, investment boost with UAE
Sharjah, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) organized the UAE-Sao Paulo Business Forum on Thursday, marking...
- During the forum, the two sides discussed joint efforts and investment opportunities available in both cities.
- The delegation comprised representatives from companies operating in agriculture, food, cosmetics, and furnishings sectors.
Economy
‘Partnerships with technology leaders help in Dubai’s digital transformation’
DUBAI, UAE - First Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance of the UAE Sheikh...
- Successful partnerships with leading industry players are a key enabler of Dubai’s digital transformation journey.
- The initiative seeks to advance Dubai’s strategic objective of becoming one of the world’s top urban economies.
Economy
US first quarter growth slightly higher than expected
Washington, United States - US economic output increased by more than previously thought in the first quarter of this year, the...
- The US economy has cooled this year as the impact of multiple rounds of interest-rate hikes to tackle inflation begins to be felt.
- GDP growth in the first quarter was revised up slightly to 1.3 percent, the Commerce Department announced in a statement.
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
Key MENA trends: M&A surge to five-year high, Saudi port activity rises in May
Qatar's foreign reserves rise 3.6 percent year-on-year despite a dip in bonds and treasury holdings, Iraq releases Australian and Egyptian...
Economy
Company News
Latest News
Saudi Arabia ranks 1st in international tourist arrivals growth in 2023
Riyadh, Saudi Arabia - Saudi Arabia topped the UN Tourism’s ranking for the growth of international tourist arrivals in 2023...
Economy
Iran, Armenia eye $3 billion bilateral trade volume
Tehran, Iran – Deputy Prime Minister of Armenia Mher Grigoryan on Thursday said that Iran and Armenia have the potential...
Geostrategy
Mawani completes Red Sea Gateway Terminal at Jeddah Islamic Port
Riyadh, Saudi Arabia - The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah...
Business
Most Read
India’s top court strikes down anonymous election funding scheme
Prime Minister Narendra Modi's party has defended electoral bonds, arguing that because the electoral bond donations are channelled through the...
- The scheme allowed donors to give anonymously through "electoral bonds" purchased from a bank
- Critics have condemned the campaign financing method as an opaque way to funnel "black money" to parties
Economy
Saudi Arabia set to establish more smart industrial zones
Riyadh, Saudi Arabia - Saudi Arabia will establish more smart industrial zones, Minister of Municipal and Rural Affairs and Housing,...
- Minister of Municipal and Rural Affairs and Housing, Majed Al-Hogail revealed this at the conclusion of the inaugural Global Smart City Forum 2024 here on Tuesday
- Minister of Industry and Mineral Resources Bandar Alkhorayef who also attended the Forum, stressed the industry and mining sectors' increasing demand for smart industrial cities
Economy
Saudi budget records $10 billion deficit in Q4 2023
Riyadh, Saudi Arabia - Saudi Arabia's general budget recorded a deficit of $9.86 billion in the fourth quarter of 2023,...
- The total revenues for the period amounted to $95.45 billion, while total expenses reached about $105.32 billion
- This reflects a slight increase in the deficit compared to the previous quarter, which stood at $9.54 billion