Transformative New Murabba Stadium design in Riyadh revealed by PIF
Equipped with cutting-edge sporting technology, the stadium will offer an immersive and personalized experience for fans. Additionally, it will act...
Economy
China factory activity contracts for second straight month
Beijing, China - Factory activity in China shrank for a second straight month in June, data showed Sunday, underscoring the country's...
Economy
Economy
Turkey’s June 2022 exports up 19% to US$23.4bn
The January-June figure hit $125.9 billion, the Turkish Statistical Institute (TurkStat) said in a statement
- The January-June figure hit $125.9 billion, the Turkish Statistical Institute (TurkStat) said in a statement
- As imports rose at a faster pace than exports, the country's foreign trade deficit widened 142.7 percent to hit $51.4 billion
Business
Yemen’s ancient honey production a victim of war, climate change
Experts consider Yemeni honey some of the best in the world, including the prized Royal Sidr known for its therapeutic...
- Experts consider Yemeni honey some of the best in the world, including the prized Royal Sidr known for its therapeutic properties
- The United Nations says honey plays a "vital role" in Yemen's economy, with 100,000 households dependent on it for their livelihoods
Geostrategy
Egypt protests Ethiopia plans to fill reservoir for third year
Egypt said it had protested to the UN Security Council Friday against Ethiopian plans to fill the reservoir of a...
- The process of filling the GERD's vast reservoir began in 2020, with Ethiopia announcing in July that year it had hit its target of 4.9 billion cubic metres
- Addis Ababa deems the GERD essential for the electrification and development of Africa's second most populous country
Business
Misses and uncertainty: US tech giants stumble after pandemic boom
As people are freed from pandemic lifestyles that had them relying on the internet for shopping, playing, working and learning,...
- A crowded period of quarterly financial releases from the world's biggest tech firms has been marred by misses and uncertainty.
- Recession fears, strong dollar, shrinking advertising budgets and inflation, headwinds coming from every direction at the moment.
Business
Eni reports Q2 net profit of US$3.9bn
Italian energy giant Eni said Friday that its profits sky-rocketed in the second quarter as energy prices soared in the...
- Eni said in a statement that bottom-line Q2 net profit increased 15-fold to $3.9 billion
- For the whole of 2022, Eni confirmed it was aiming for operating profit of 'at least' $1.22 billion
Economy
Dubai’s real estate market sales transactions reach US$6.2bn
Dubai’s real estate market recorded 8,897 sales transactions worth US$6.2 billion approx (AED22.75 billion), the highest volume of sales transactions...
- Dubai’s real estate market recorded 8,897 sales transactions worth US$6.2 billion
- The transactions were the highest volume of sales transactions for June in the past nine years
Business
ADNOC announces second discovery of natural gas resources
Abu Dhabi National Oil Company (ADNOC) today announced a second discovery of natural gas resources in the first exploration well...
- The reservoir was struck in in the first exploration well in Abu Dhabi's Offshore Block 2 Exploration Concession, operated by Eni.
- The discovery from a new deeper reservoir indicates between 1 – 1.5 trillion standard cubic feet (TSCF) of raw gas in place.
Business
ExxonMobil Q2 profits rises to US$17.9bn
ExxonMobil's second quarter profits nearly quadrupled to $17.9 billion in results released Friday that underscored the elevated state of oil...
- ExxonMobil's Q2 profits nearly quadrupled to $17.9 billion that underscored the oil and natural gas prices
- The US oil giant's revenues in the second quarter rose 68.7 percent to $111.3 billion
Business
Alpha Dhabi reports net profit of US$2.2bn in H1 2022
Alpha Dhabi Holding has announced its financial results for the half-year ended June 30. The company reported net profit of...
- Alpha Dhabi reports net profit of US$2.2 billion in H1 2022 ending June 30, up from US$ 453 million in the corresponding period last year
- The firm is also starting to see the benefits of its expansion outside the UAE with overseas revenue accounting for US$ 572 million
Economy
Germany’s economic model wobbles amid energy crisis
Germany's second-quarter growth figures to be published on Friday are expected to be meek as the outlook for Europe's largest...
- Less expensive to produce and transport, with prices pinned down in long-term contracts, Russian gas has for decades contributed to Germany's economic prosperity
- To wean itself completely off Russian gas, Germany is looking further afield for new supplies including shipments of liquefied natural gas from the United States and Qatar
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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
Transformative New Murabba Stadium design in Riyadh revealed by PIF
Equipped with cutting-edge sporting technology, the stadium will offer an immersive and personalized experience for fans. Additionally, it will act...
Economy
Company News
Latest News
Jordan seeks World Bank support to boost infrastructure projects
Amman, Jordan-- Jordan and the World Bank have held discussions to enhance cooperation in infrastructure projects and the public-private partnerships....
Economy
Saudi Arabia seeks Chinese investment in mining, industry
Beijing, China - Saudi Arabia is seeking Chinese investment in mining and industrial sectors. The Saudi Minister of Industry and...
Business
Saudi Arabia’s economy joins trillion-dollar club
The Kingdom now ranks 17th in global economic rankings and 17th out of 64 countries for global economic competitiveness.
Economy
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Business
UAE-Saudi non-oil trade reaches US$159bn in 2018-22
ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by...
- The volume of trade between the UAE and the Kingdom of Saudi Arabia grew by 28 percent in 2022.
- The year 2021 saw growth, reaching $33.9 billion (AED 124.65 billion), compared to $28 billion (AED 103.91 billion) in 2020.
Business
Afghan wushu fighters defy money woes to pursue Asian Games glory
Afghanistan will compete in 15 sports in Hangzhou, the country's first Asian Games since the Taliban seized power in 2021....
- The team say the Taliban authorities support sport, but there is no government financial backing for athletes
- Afghanistan will compete in 15 sports in Hangzhou, the country's first Asian Games since the Taliban seized power
Geostrategy
Iran, Djibouti resume diplomatic ties after 7 years
Iran announced the restoring of diplomatic ties with Djibouti over seven years after it joined other regional nations in severing...
- The move followed Iranian foreign minister Amir-Abdollahian's meeting with his Djiboutian counterpart Mahamoud Ali Youssouf in New York.
- Djibouti cut ties with Iran in January 2016 after attacks on Saudi missions during protests over Riyadh's execution of a Shiite cleric.