Car-centric Saudi to open first part of Riyadh Metro
Riyadh, Saudi Arabia - Saudi Arabia announced Wednesday it is ready to open the first part of the Riyadh Metro,...
G20 leaders to grapple with climate, taxes, Trump comeback
G20 leaders gather in Brazil on Monday to discuss fighting poverty, boosting climate financing and other multilateral initiatives that could...
Economy
Abu Dhabi launches smart manufacturing index
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) has launched the 'Abu Dhabi Smart Manufacturing Index',...
- The Index empowers manufacturers with the necessary knowledge and training to initiate an Industry 4.0 transformation journey.
- It breaks down sophisticated concepts into six building blocks to provide a clear and easy-to-follow roadmap.
Business
Sales of Al Rahmaniyah Commercial Lands begins
SHARJAH, UAE - ASAS Real Estate Company, the real estate arm of Sharjah Islamic Bank (SIB), announced the launch of...
- The project follows increasing demand for the company's latest real estate projects.
- The project benefits from close proximity to Emirates Road, Sharjah Airport and Sharjah University City.
Economy
Qatar records a trade balance surplus of US$29.47bn in Q3
Doha, Qatar—Qatar has recorded a trade balance surplus in the third quarter of 2022 of $29.47 billion up from $15.87...
- In Q3 2022, the value of Qatar's total exports (including exports of domestic goods and re-exports) amounted to $38 billion
- During Q3 2022, Asia was the principal destination of Qatar's exports and the first origin of Qatar's imports, representing 60.5 percent and 40.1 percent respectively
Economy
UN COP27 approves “loss and damage” fund
Nations hit by the impact of global warming can now be compensated from the "loss and damage" fund created by...
- Loss and damage covers a broad sweep of climate impacts, from bridges and homes washed away in flash flooding, to the threatened disappearance of cultures and whole islands
- This year an onslaught of climate-induced disasters, from catastrophic floods in Pakistan to severe drought threatening famine in Somalia, sharpened focus on disaster-hit countries
Economy
‘FIFA to earn around $700 million due to Qatar World Cup’
"All in all this World Cup will generate for FIFA around $600-$700 million more than the last World Cup," he...
- FIFA chief Infantino said media rights were up about $200 million compared with the 2018 tournament in Russia
- Infantino said he would reveal FIFA's global revenues for the past four years to national associations on Sunday.
Market Report
UAE stocks end higher even as Saudi markets decline
Saudi equities rose on November 13 but the index fell during the rest of the trading days. UAE stocks started...
- The Saudi Public Investment Fund raised US$612 million through a secondary offering of shares by selling a 10 percent stake in Tadawul.
- The Abu Dhabi Stock Exchange rose after Abu Dhabi Ports Group said that it had acquired global platform for integrated logistics services Noatum.
Business
Allwyn buys Britain’s Camelot
Acquisition will likely close in Q1 2023, Czech firm said.
- In March, Britain's Gambling Commission, which licenses and regulates gambling, gave Allwyn Entertainment a license to run the National Lottery from February 1, 2024.
- As Camelot owns the license until then, the takeover will help facilitate a smooth transition, Allwyn said.
Business
GAL-AMMROC, GMF ink pacts
The pact were inked during the B20 Summit in Bali, Indonesia.
- The pacts will allow AMMROC to expand its MRO capabilities and consolidate its status as a key enabler of a sustainable domestic defense sector in the UAE.
- The cooperation will further expand to the joint promotion of the N219 and NC212 aircraft in the Middle East and Africa markets.
Economy
Sharjah International Travel and Tourism Forum to begin Nov 24
SHARJAH, UAE - The 9th edition of the Sharjah International Travel and Tourism Forum (SITTF) is set to kick off...
- The forum will convene a host of government officials, local and international decision-makers, experts in global travel, tourism and aviation sector.
- Organized by Sharjah Commerce and Tourism Development Authority, the forum complements SCTDA's efforts to bolster Sharjah's position in global tourism.
Geostrategy
‘Most APEC members condemn war in Ukraine’
Asia-Pacific leaders added their voices to international pressure on Russia over its invasion of Ukraine, issuing a summit statement saying...
- The summit communique was agreed by all APEC members, including Russia and China.
- Apart from substituting the name of the organization, the statement was word-for-word the same as a G20 declaration.
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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
Car-centric Saudi to open first part of Riyadh Metro
Riyadh, Saudi Arabia - Saudi Arabia announced Wednesday it is ready to open the first part of the Riyadh Metro,...
Company News
Masdar, Africa50 sign MoU
Business
Latest News
Stocks extend global rally as US jobs data cements rate hopes
Hong Kong, China - Markets rallied again Monday following another strong performance on Wall Street, as below-forecast US jobs data fanned...
Market Report
UAE issue guidelines on unlicensed virtual asset service providers
Abu Dhabi, UAE - The National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organizations Committee (NAMLCFTC)...
Geostrategy
$10 trn of ‘hidden costs’ on food and agriculture system per year, says UN
Paris, France - The food and agriculture system adds at least $10 trillion in "hidden costs" to the global economy every...
Economy
Most Read
Business
Saudi Arabia launches second phase of Visiting Investor Visa
RIYADH, SAUDI ARABIA – The Kingdom’s ministry of investment and ministry of foreign affairs launched the second phase of issuing...
- This service is offered to foreign investors as part of the Kingdom’s efforts to boost investment, consistent with Saudi Vision 2030.
- The booking platform is affiliated with the Ministry of Investment “Invest Saudi,” through which the application will be processed.
Interview
Diversification remains crucial for oil-rich nations
Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in...
- Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in an interview
- She highlights the need for a global sustainability approach, emphasizing localized transitions, inclusivity, and the urgency of shifting to sustainable development
Economy
Russia to continue voluntary oil export cuts by 300,000 barrels a day until yearend
Moscow, Russia - Russia will continue additional voluntary oil export cuts by 300,000 barrels a day until the end of...
- Additional cuts are geared to enhance OPEC+ measures to maintain stability and balance on oil markets
- Russia began to voluntarily cut oil production by 500,000 barrels a day from February’s average back in March