Iran slams new EU, UK sanctions as unjustified: foreign ministry
ran's foreign ministry Tuesday slammed as unjustified the new sanctions by the European Union and Britain against Tehran over its...
Saudi Arabia appoints new CEO to drive NEOM’s mega-city project forward
In a big move, Saudi Arabia appoints Aiman al-Mudaifer as NEOM’s interim CEO, a strategic choice to advance the futuristic...
Economy
Low carbon demand spurs green sukuk growth
With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent...
- With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent increase over 2020.
- Sukuks cannot be used to finance illegal activities and are designed to avoid high levels of leverage and speculation, a new research highlights
Economy
Saudi banks provide $630 billion loans till August 2022
Riyadh, Saudi Arabia - Saudi bank loans granted to public and private sectors grew 15 percent by the end of...
- Private-sector lending also increased by 15 percent year-on-year to SAR 2.241 trillion ($600 billion).
- Loans granted to public non-financial institutions increased 26 percent YoY to SAR 117.1 billion ($31.14 billion).
Arts & Culture
Cultural policy vital for diversified economy, says UAE Minister
UAE Ministry of Culture and Youth participated in the UNESCO World Conference on Cultural Policies and Sustainable Development – MONDIACULT...
- UAE Minister of Culture and Youth Noura bint Mohammed Al Kaabi participated in a UNESCO world conference in Mexico via video conference.
- A delegation headed by Salem Al Qasimi, Permanent Delegate of the UAE to UNESCO, was present on the occasion.
Videos
Saudi growth in 2022 to outpace Asian giants
The kingdom recovered quickly from Covid-induced recession and is reaping the rewards of high global energy prices and increased energy...
- The kingdom is set to be the fastest growing of the world’s largest economies in 2022, outpacing the Asian giants of China, India, Indonesia, South Korea and Taiwan.
- It is expected to grow much faster than the struggling major economies in Western Europe and North America.
Business
Sharjah Chamber organizes forum, briefs Russian delegation
The Sharjah Chamber of Commerce and Industry (SCCI) has organized a forum to discuss ways to boost economic ties and...
- The forum witnessed bilateral meetings between business owners from Sharjah and Russia.
- The chamber briefed the Russian trade mission on Sharjah’s business advantages and facilities.
Business
Qatar goes into top gear to ready luxury hotels, flats
As the countdown to the start of the World Cug gets underway, Qatar has accelerated efforts to ready luxury hotels...
- The wealthiest will pay thousands of dollars a night for rooms with marble wine cellars and a lobby with one of the world's biggest chandeliers
- Some Qatari landlords are trying to cash in on the World Cup, demanding $4,000-plus a night for Doha apartments
Geostrategy
World Bank declares $530mn aid for Ukraine’s ‘urgent needs’
"The toll of destruction, damage, and dislocation in Ukraine is staggering and continues to grow," Anna Bjerde, the bank's regional...
- The new funding came on the same day Russian President Putin formally announced the annexation of four Moscow-held areas of Ukraine.
- The bank said it had already mobilized almost $13 billion in emergency funding for Ukraine, $11 billion of which had already been disbursed.
Geostrategy
‘Nord Stream 2 pipeline has stopped leaking gas’
The Nord Stream 2 pipeline is no longer leaking under the Baltic Sea because an equilibrium has been reached between...
- While the pipelines are not currently in operation, they both still contained gas before they fell victim to apparent sabotage, producing four leaks.
- All the leaks are in the Baltic Sea off the Danish island of Bornholm.
Economy
Dubai Metaverse Assembly takes delegates to Mars
Participants were taken on an immersive space journey to a detailed metaverse city on the Red Planet.
- Participants were taken on an immersive space journey to a detailed metaverse city on the Red Planet
- Senior executives from major corporations also discussed topics such as the relationship between the metaverse and gaming, retail, banking, and venture capital
Economy
Jordan government reduces fuel prices for October
The price of 90-octane gasoline and 95-octane gasoline will decrease by 60 fils in October.
- The price of 90-octane gasoline and 95-octane gasoline will decrease by 60 fils in October
- The price of one litre of diesel and kerosene will sell at JD0.825 in October, instead of JD0.790
Iran slams new EU, UK sanctions as unjustified: foreign ministry
ran's foreign ministry Tuesday slammed as unjustified the new sanctions by the European Union and Britain against Tehran over its...
Company News
4.4m travel by SAR in H1 2023
Business
Latest News
Security risks hit gas flow amidst Israel-Hamas row
Israeli decision to suspend gas supply from Tamar field due to security concerns affects energy and gas sector, resulting in...
Red Sea Global builds largest off-grid EV charging network in Saudi Arabia
RIYADH, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, Amaala...
Business
UAE invests $36bn in renewable energy projects in 2022, says ADDED Â chairman
ABU DHABI, UAE - Chairman of the Abu Dhabi Department of Economic Development (ADDED) Ahmed Jasim Al Zaabi has said...
Economy
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Economy
Global CEOs rank political uncertainty as biggest risk to business
Dubai, UAE-- CEOs from around the world consider geopolitics and political uncertainty as the greatest risk to the growth of...
- The findings of the survey undertaken by KPMG noted that CEOs worried about the effect of political uncertainty on business growth
- The top-notch executives recognize AI’s seemingly limitless potential and are keeping their foot on the gas in terms of their investment
Analysis
Israel-Gaza conflict creates global economic ripples
As Israel grapples with the surprise Hamas action and global community gauges economic ramifications, the future of Israel's relations with...
- As Israel grapples with the surprise Hamas action and global community gauges economic ramifications, the future of Israel's relations with its neighbors hangs in the balance
- World Bank emphasizes the economic repercussions of the conflict, while the OECD projects Israel's 2024 GDP growth at 3.3%; Lebanon's crisis may worsen with Hizbollah's role
Economy
GCC states post 7.3 percent GDP growth in 2022: Albudaiwi
Marrakech, Morocco-- In spite of economic disruptions, policymakers in the GCC countries have successfully alleviated the economic ramifications of the...
- The secretary general was speaking at the Arab governors' meeting with the President of the World Bank Group, Ajay Banga, in Morocco
- He warned that economic challenges present a risk to the mutual objective of a poverty-free world characterised by sustainable development