Residential, hospitality sectors drive Saudi Arabia’s real estate market in H1 2024
The Kingdom’s tourism and entertainment investments, including a new star rating system, support growth in hospitality, positioning Saudi Arabia as...
Economy
AI adoption in GCC surges as governments and the private sector embrace technology
With 93% of Saudi workers considering generative AI essential, alongside 95% in the Middle East and 79% globally, the region's...
Asian markets swing as US jobs data disappoint
Market Report
Economy
Jordan’s anti-corruption body launches National Integrity Index
The Jordan Integrity and Anti-Corruption Commission (JIACC) on Monday launched the National Integrity Index (NII), which aims to gauge public...
- Jordan Integrity and Anti-Corruption Commission launches National Integrity Index to gauge public bodies adherence to anti-corruption standards
- The NII aims to support the commission's efforts to combat corruption and foster an anti-corruption public culture
Economy
Museum, DEWA partner for sustainable development
The Museum of the Future has signed a strategic partnership agreement with Dubai Electricity and Water Authority (DEWA) to showcase...
- The Museum of the Future with Dubai Electricity and Water Authority will showcase solutions for sustainability and renewable energy
- The agreement between the two organizations aims for constructive research that helps solve today’s ecological challenges
Business
Bahrain central bank’s monthly Sukuk issue oversubscribed by 152%
The Central Bank of Bahrain (CBB) said Monday the monthly issue of the Sukuk Al-Salam has been oversubscribed by 152...
- Subscriptions worth BD 65.445 million ($173.5) were received for the BD 43 million issue, which carries a maturity of 91 days.
- The expected return on the issue, which begins on 17 August and matures on 16 November, is 3.80 percent compared to 3.96 percent of the previous issue on 13 July.
Business
DGCX licensed brokerage firms can now become DFM derivatives members
Dubai Financial Market (DFM) said Monday that it has obtained the approval of the Securities and Commodities Authority (SCA) to...
- Securities and Commodities Authority approves DFM to allow such firms to become DFM derivative members and provide their services in the market for the first time.
- Currently, there are approximately 21 DGCX brokers licensed by SCA and this significant step caters to the growing demand from these companies to access the DFM.
Economy
Saudi real estate fund signs 58,000 housing support contracts in H1
Saudi Arabia’s Real Estate Development Fund has signed more than 58,000 financing contracts for the kingdom’s various housing support programs...
- One of the goals of kingdom's transformative Vision 2030 is to raise the percentage of house ownership to 70 percent,
- The number of the beneficiaries of housing support programs from June 2017-June 2022 is more than 660,000.
Economy
Oil prices fall as Aramco signals plan to raise crude production
Oil prices slipped in Asian trade, with both main contracts down around two percent as the stuttering Chinese economic recovery...
- Oil prices slipped in Asian trade, with both main contracts down around two percent as the stuttering Chinese economic recovery added to concerns about demand
- Crude prices which had gained following Russia’s invasion of Ukraine have declined over the last couple of months on fears of a possible economic recession
Economy
Has blockchain found a use beyond crypto trading?
Blockchain at heart is a ledger, a way of storing transactions that is according to fans secure, transparent and permanent.
- Blockchain at heart is a ledger, a way of storing transactions that is according to fans secure, transparent and permanent
- The blockchain emerged from a 2008 white paper on bitcoin, which was conceived as an alternative to fiat currency
Economy
China cuts rates as economic recovery weaker than expected
The world's second-biggest economy saw a bounce in business activity as some coronavirus restrictions eased in June, but the boost...
- China's industrial production rose 3.8 percent on-year, down from a 3.9 percent jump in June
- Retail sales grew at a slower-than-expected 2.7 percent from a year ago, down from 3.1 percent in June
Economy
Saudi economy, GDP see upswing in H1 2022
Real GDP increased at a growth rate of 11.8% in Q2 2022, driven by the significant increase in oil activities...
- The report says Saudi Arabia's economy and GDP are on an upswing due to several factors
- Even the World Economic Outlook July 2022 projected the Kingdom to record highest GDP growth among G20 countries.
IGCF 2022 to be held on September 28, 29
The forum will analyse the socioeconomic and community trends that will determine the next stage of government communications regionally and...
- The forum will analyse the socioeconomic and community trends that will determine the next stage of government communications regionally and around the world
- It will also spotlight the latest tools and methodologies governments can leverage to communicate with the public during unforeseen or unusual circumstances
Residential, hospitality sectors drive Saudi Arabia’s real estate market in H1 2024
The Kingdom’s tourism and entertainment investments, including a new star rating system, support growth in hospitality, positioning Saudi Arabia as...
Economy
Company News
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IMF approves $1.3bn for Morocco to help transition to a greener economy Â
WASHINGTON, US - The International Monetary Fund (IMF) Executive Board approved a Resilience and Sustainability Facility (RSF) for Morocco of...
Geostrategy
The many ways US government shutdown affects people
WASHINGTON, US - The United States is heading toward a government shutdown this weekend with no foreseeable way out of a...
Geostrategy
Haj 2024: Saudi Arabia to increase licensed companies for overseas pilgrims
Riyadh, Saudi Arabia - Saudi Arabia has unveiled plans to expand the number of licensed companies authorized to offer services...
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Economy
Greece and Saudi Arabia agree to link their power grids
Athens, Greece - Greece and Saudi Arabia announced their agreement to establish a jointly-owned company with the goal of connecting...
- The collaboration between Greece's Independent Power Transmission Operator and Saudi National Grid will result in each party holding a 50 percent stake
- Besides this partnership with Saudi Arabia, Greece is also in the process of constructing an undersea cable to link its grid with Egypt
Geostrategy
DIB to buy stake in TOM Group
DIB felt Turkey is a great investment destination.
- DIB will acquire 20 percent shareholding across T.O.M. Group with an option to increase shareholding to 25 percent within 12 months.
- DIB has long held the view that Turkey was an attractive investment destination for a financial services institution.
Geostrategy
US to auction three new oil and gas leases in the Gulf of Mexico
WASHINGTON, US - President Joe Biden's administration on Friday announced it would auction three new oil and gas leases in the...
- The move triggered a furious reaction from environmental groups who said the move would accelerate climate change.
- The action was denounced by advocates of the fossil fuel industry as it reduced the number of lease sales planned by previous US administration.