US trading partners hit back on steel, aluminum tariffs
The steep 25-percent levies came into place after midnight with no exemptions despite countries' efforts to avert them, in a...
Geostrategy
Tech and sustainability drive Singapore’s smart tourism vision
To realize its vision for “smart tourism”, Singapore Tourism Board is leveraging cutting-edge technologies like artificial intelligence, data analytics, and...
Interview
Business
Santander 2022 profit at $10.6bn
The bank's profit got a boost due to higher interest rates.
- Shareholders would receive a payout of around 40% of the group's underlying profit, divided equally between cash dividends and share buybacks
- Central banks have hiked interest rates worldwide in an effort to tame runaway inflation.
Kuwait projects widening $16 bn budget deficit
The budget deficit will swell to five billion dinars (more than $16 billion) for the year starting in April, up...
- The state spending will rise by 11.7 percent to more than $86 billion, with 80 percent going on civil service wages and public subsidies
- Oil revenues are expected to fall by 19.5 percent, they were calculated based on a price of $70 per barrel -- lower than last year's prices
Business
Saudi entertainment authority issues licenses for more than 24 theme parks
According to a study, GEA also authorised permits for almost 1,300 entertainment shows until the end of last year.
- According to a study, GEA also authorised permits for almost 1,300 entertainment shows until the end of last year
- The authority has provided above 630 permits in the field of art and entertainment talent management, the report added
Economy
Judicial reform plans won’t harm economy: Israel’s economy minister
High-tech workers organised their second protest against the measures on Tuesday in central Tel Aviv.
- High-tech workers organised their second protest against the measures on Tuesday in central Tel Aviv
- Leading Israeli economists have warned that the proposed reforms will do "long-term harm" to the Israeli economy
Business
OPEC+ committee recommends to stay course on oil ouput cuts
Vienna, Austria--A committee of major oil producers recommended Wednesday to maintain the cartel's current reduced output strategy, as the global economic...
- The 13 members of the OPEC led by Riyadh and their 10 allies led by Moscow agreed last October to reduce output by two million barrels per day until the end of this year.
- Oil prices spiked following Russia's invasion of Ukraine in February 2022
Economy
Saudi Arabia, Oman sign 13 MoUs to promote investment
The pacts were signed on the sidelines of the Saudi-Omani Investment Forum which is held in Riyadh under the theme...
- The pacts were signed on the sidelines of the Saudi-Omani Investment Forum which is held in Riyadh under the theme of "Partnership and Integration"
- The four-day forum aims to build sustainable partnerships in key sectors and contribute to enhancing mutual interests between the two sides
Economy
UAE, Saudi, Bahrain up rates after Fed’s hike; Qatar keeps status quo
Hours after the US Federal Reserve upped its target interest rate by a quarter of a percentage point, many central...
- The UAE central bank has decided to raise the base rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points
- The US central bank said in a statement that Inflation has eased somewhat but remains elevated
Business
EU unveils proposals to counter US green subsidy, China competition
The majority of the EU's response involves repackaging already existing funds, a stop-gap measure that has earned much criticism. German...
- The measures are a response to a landmark US spending bill last year that funnels $370 billion into subsidies for America's energy transition.
- While countries like France support state aid expansion, others argue that would help only richer member states and fragment the single market.
Economy
Saudi insurance sector adopts International Financial Reporting Standard
The features of the new Standard include standardization of the accounting measurement models for insurance and reinsurance companies around the...
- The features of the new Standard include standardization of the accounting measurement models for insurance and reinsurance companies around the world
- SAMA had committed to a seamless adoption of the IFRS 17 in Saudi Arabia, as a member of the G20, rolling out a transition plan in four phases in 2018
Economy
Jordan ranks fourth in combating corruption says anti-corruption watchdog
The index shows that Jordan scored 47 points and is ahead of 119 countries in combating corruption, including Malaysia, China,...
- The index shows that Jordan scored 47 points and is ahead of 119 countries in combating corruption, including Malaysia, China, Bahrain, Kuwait, Turkey and Egypt
- Transparency International said that the anti-corruption index showed that little progress had been made in combating corruption with an increase in violence around the world
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
US trading partners hit back on steel, aluminum tariffs
The steep 25-percent levies came into place after midnight with no exemptions despite countries' efforts to avert them, in a...
Geostrategy
Company News
Latest News
Public-private partnerships play key role in environmental finance, says EIF official
DUBAI, UAE – Public-private partnerships have the potential to play a significant role in mobilizing private financing for environmental solutions,...
Jordan’s mission to save its ancient olive trees
Jordan's culture ministry, Gharaibeh's organization is working to add the trees to the UNESCO Intangible World Heritage List, hoping this...
Economy
Riyadh Season draws 9 million visitors to its entertainment zones
Riyadh, Saudi Arabia - The number of visitors to Riyadh Season has surged to over 9 million, indicating a significant...
Business
Most Read
‘Tech solutions help make food practices sustainable’
UAE's launch of Food Innovation Hub emphasizes the government's eagerness to innovate and collaborate for sustainable food systems, WEF's Tania...
- UAE's proactive role in launching Food Innovation Hub emphasizes the government's eagerness to innovate and collaborate for sustainable food systems, says WEF's Tania Strauss.
- The success of UAE's Food Innovation Hub hinges on public-private sector collaboration, with ongoing work to define roles and ecosystems, adds the head of food and water at WEF.
Economy
UAE witnesses 7% rise in youth green skills in 2023
“We will work to create about 135,000 jobs in the field of green transition worldwide, and therefore ensuring that there...
- The World Bank's Green Initiative dedicates 45% of its annual financing to climate-related projects, with a strong emphasis on developing green skills.
- The apex global bank has a focused plan to create 135,000 jobs globally in the green transition sector, says Safaa El Tayeb El-Kogali of the World Bank.
COP28 UAE
Protecting nature may avert $2.7trn global economic losses: World Bank
Dubai, UAE-- Protecting nature could avert global economic losses by 2030 of US$2.7 trillion per year, or 2.3 percent annually,...
- Hickey said low-income countries may lose nearly 10 percent of their GDP annually by 2030 if select ecosystem services, such as forests, fisheries collapse
- She said that the loss of nature is at the core of central development challenges, mainly health, inequality, climate change, food security and energy