Massive GCC infrastructure investments set stage for rising foreign equity: Franklin Templeton
The Franklin Templeton Emerging Markets Equity outlook emphasizes how GCC countries have reduced their dependence on oil and gas, opened...
Economy
Saudi Arabia and Qatar to settle Syria’s World Bank debt
Riyadh, Saudi Arabia -- Saudi Arabia and Qatar announced on Sunday that they would settle Syria's debt to the World...
Geostrategy
Economy
Jordan’s ‘Tashgheel’ fetches 20,000 jobs for its citizens in private sector
Amman, Jordan--A government-sponsored program in Jordan has helped place 20,000 people into private sector jobs since its launch in April...
- The government program aims to provide 60,000 job opportunities in accordance with the private sector's demand
- More than 50,000 job seekers registered for the program, 26,258 of whom were female and 26,885 of whom were male
Geostrategy
Japan PM arrives in India to widen trade, technology ties
New Delhi, India--Japanese Prime Minister Fumio Kishida arrived in India on Monday for talks expected to focus on deepening trade and...
- Japan PM's visit comes in the wake of Australian PM's trip to India, which also saw talks centering around China and trade
- India and Japan are expected to announce initiatives on clean energy, digital trade and infrastructure
Business
SIRC buys 60% of Masab Plastic
The PIF-owned firm looks to deepen investment in recycling.
- According to Saudi Press Agency, the deal is intended to support the company's plan to establish partnership with the private sector
- The agreement between the two groups was signed on the sidelines of the Private Sector Forum, which was held from March 14 to March 15
Economy
Two Indian companies investing $45m in Bahrain
Manama, Bahrain: Aerolam Middle East and Titan Company are set to launch their operations in Bahrain with a total investment...
- Titan is gearing up to launch Tanishq in Bahrain, backed by a franchise partner from India, with a total expected investment of approximately $30 million
- The volume of trade between the two countries with a focus on financial services and logistics has increased by 30 percent since 2018, reaching $1.4 billion in 2022
Economy
Saudi Arabia, Turkey sign deals during ‘Turk Expo 2023’ in Riyadh
Riyadh, Saudi Arabia--Saudi Arabia and Turkey have signed three agreements in the industrial sector during the Turkish Export Products Trade...
- The trade fair is designed to introduce the Turkish products and services to the Saudi market
- Trade exchange between Saudi Arabia and Turkey in 2022 amounted to about $5.86 billion
Economy
Egypt’s president meets Russian envoy in Cairo in sign of closer ties
Renewing their commitment to "continuing to strengthen bilateral relations", Egyptian President Abdel Fattah al-Sisi met with a senior Russian delegation...
- The Russian delegation's visit came two days after the Hague-based International Criminal Court announced an arrest warrant for Putin on the war crimes
- Before the outbreak of war, which has entered its second year, 85 percent of Egypt's wheat imports were sourced from both Russia and Ukraine
Economy
US Fed, other central banks move to boost global dollar liquidity
The central banks will step up so-called swap line operations, which give non-US central banks greater access to dollars. "To...
- The special drive will be launched Monday by the Fed and the central banks of Canada, the UK, Japan, the EU and Switzerland
- The announcement came hours after Switzerland brokered the UBS takeover of its troubled Swiss rival Credit Suisse
Saudi Arabia expands economic diversification plan
The Kingdom is making significant investments in new economic sectors, including mining, tourism, and information technology, particularly the electronic games...
- The Kingdom is making significant investments in new economic sectors, including mining, tourism, and information technology, particularly the e-game sector
- Saudi Arabia, which is seeking alternatives to crude oil revenues, is planning to invest US$37.8 billion in electronic gaming initiatives and programs through PIF
Geostrategy
UAE, Serbia discuss cooperation in R&D, innovation
BELGRADE, SERBIA - UAE Minister of State for Public Education and Advanced Technology Sarah Al Amiri discussed cooperation in research...
- The UAE minister discussed ways to enhance cooperation between the two nations in her visit to Serbia.
- She also discussed ways and means to strengthen the education system and vocational schools.
Business
Tadawul market cap vaults 477% to US$2.6trn over last 5 years: CMA
Riyadh, Saudi Arabia-- The market capitalization of Tadawul, the Saudi stock exchange, has shot up 477 percent to $2.6 trillion...
- Yazid Al-Dumaiji disclosed that there are almost 80 applications under review for initial public offering (IPOs)
- He said Tadawul witnessed a rise of 388% in foreign investments to reach a historical level of US$93 billion in 2022
Massive GCC infrastructure investments set stage for rising foreign equity: Franklin Templeton
The Franklin Templeton Emerging Markets Equity outlook emphasizes how GCC countries have reduced their dependence on oil and gas, opened...
Economy
Company News
Al Ansari 9M profit US$105m
Business
ADIB issues green sukuk
Business
Latest News
US regulators authorize first bitcoin funds on public markets
The authorization of the ETFs - which are comparable to stocks or mutual funds as far as accessibility to everyday...
Economy
Saudi, UAE report highest levels of gross debt
Among the Arab countries, Egypt recorded the highest debt-to-GDP ratio of 92.7 percent while US and China are on an...
Infographics
Five new residency programs to attract talent to Saudi Arabia
These residency products offer several benefits, including the ability to conduct business and invest in Saudi Arabia, own real estate,...
Business
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Economy
WEF 2024 aims to bridge trust gaps amid global discord
Geneva, Switzerland - The World Economic Forum Annual Meeting 2024 is set to gather over 2,800 global leaders in Davos-Klosters,...
- The WEF 2024 entails sessions addressing global security, economic growth, climate action, technological disruption, and health and well-being
- The forum will emphasize public-private collaboration to translate ideas into actionable solutions, acting as an accelerator for cooperation among leaders and initiatives
Economy
Arab region faces soaring youth unemployment crisis
The region, with the world's highest youth unemployment rate, requires the creation of 33.3 million jobs by 2030 to accommodate...
- The region, with the world's highest youth unemployment rate, requires the creation of 33.3 million jobs by 2030 to accommodate the large number of candidates.
- Arab countries are required to transform their education systems to align with the evolving labor market and create job opportunities for youth in the region.
Economy
UAE economy likely to grow by 3.8 percent in 2025, says World Bank
WASHINGTON, US - The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to...
- The World Bank forecast the growth in the Gulf Cooperation Council countries to rise to 3.6 percent in 2024 and 3.8 percent in 2025.
- The report said that the growth rate in the Middle East and North Africa region slowed down sharply to 1.9 percent in 2023.