US Federal Reserve keeps interest rates at 23-year high
Washington, United States - The US Federal Reserve on Wednesday held interest rates steady for a sixth straight meeting, keeping the...
Economy
Business and leisure combo drives GCC tourism boom
Business travelers worldwide are drawn to the GCC countries due to their rapidly growing economies, strategic geographic locations, and ambitious...
Business
Economy
A new ‘architectural openness’ is remaking Saudi streets
Local architects and engineers say such features have become a hallmark of renovation and newly-built projects across the capital Riyadh.
- Local architects and engineers say such features have become a hallmark of renovation and newly-built projects across the capital Riyadh
- The result is a kind of visual marker of the more welcoming narrative Saudi officials are pushing for the traditionally ultra-conservative kingdom
Geostrategy
Putin, Saudi crown prince discuss oil as global energy market gets volatile
Russian President Vladimir Putin and Saudi Arabia's Crown Prince Mohammed bin Salman spoke about the oil market in a telephone...
- The Saudi-led OPEC oil grouping has been cooperating with a number of other oil-exporting nations including Russia for several years to better control the oil market
- The group, called OPEC+, introduced production cuts during the coronavirus pandemic that helped the oil market to recover from a crash in prices to below zero
Economy
Dubai Health Authority, Visa sign MoU to enhance health tourism
The Dubai Health Authority recently signed a Memorandum of Understanding (MoU) with Visa with the aim of enhancing Dubai's competitiveness...
- Visa cardholders would be given exclusive discounts on medical services by by members of the Dubai Health Experience
- The cardholders will be able to choose a range of medical services, book appointments and plan their treatment itineraries
Science
Testing of Barakah Nuclear Plant’s last unit successful
The Emirates Nuclear Energy Corporation has successfully completed the Hot Functional Testing on Unit Four, the last of its four...
- Emirates Nuclear Energy Corporation successfully completes Hot Functional Testing on the last of its four units of Barakah Nuclear Energy Plant
- Results demonstrate that all systems perform in accordance with the highest quality and safety standards under normal operating conditions
Economy
Russia resumes critical gas supplies to Europe via Nord Stream
Russia on Thursday resumed critical gas supplies to Europe through Germany, reopening the Nord Stream gas pipeline after 10 days,...
- The German government had feared that Moscow would not reopen the pipeline after the scheduled work
- Gazprom has cut flows to Germany via the vital Nord Stream 1 pipeline by some 40 percent in recent weeks
Economy
UAE, Korea discuss cooperation in food security, health, technology
Emirati exports to South Korea increased by 34 percent in 2021 compared to 2021, reaching $679 million.
- Emirati exports to South Korea increased by 34 percent in 2021 compared to 2021, reaching $679 million
- The value of non-oil trade between the two countries in H1 2022 amounted to US$1.3 billion, a 19 percent increase compared to the same quarter last year
Jordan’s Tourism income up 242% in H1 2022
The number of tourists visiting the kingdom rose by 1.4 million to 1.9 million.
- The number of tourists visiting the kingdom rose by 1.4 million to 1.9 million
- Data showed a rise in Jordanians' expenditure on travel last June by 61.8 percent
Economy
US seeks billions in Africa investment: aid agency chief
Washington wants to foster billions of dollars of investment in Africa, the head of its delegation to a US-Africa business...
- Albright was speaking at the US-Africa Business Summit in Marrakesh, an annual conference organized by private organization Corporate Council on Africa
- The meeting will bring together African political and business leaders as well as decision-makers and investors from the US private sector
Economy
Digitization of govt services spurs MENA IT spending
The IT spending in the MENA region will hit US$1.7bn in 2022 as the governments are using technology to streamline...
- Sixty-six percent of total IT spending in 2022 will go toward communication services, which will remain the largest segment
- Global government IT spending is estimated to reach US$565.7 billion this year, up 5 percent from 2021
Science
Are EVs driving towards greener world or uncertainty?
Studies suggest the electric vehicles may not eliminate all emissions even by 2050, particularly those related to mining and battery...
- Recent studies suggest the electric vehicles may not eliminate all emissions even by 2050, particularly those related to mining and battery production.
- Wider adoption of EVs will hinge on affordability which, in turn, is reliant on battery production and robust charging infrastructure
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 Federal Reserve keeps interest rates at 23-year high
Washington, United States - The US Federal Reserve on Wednesday held interest rates steady for a sixth straight meeting, keeping the...
Economy
Company News
Latest News
Jordan’s interconnection projects to serve as hub for energy exchange
AMMAN, JORDAN -The Kingdom’s Ministry of Energy and Mineral Resources has emphasized the significance of current and upcoming electrical interconnection...
Geostrategy
Desperate Sudanese face endless wait for passports so they can flee
A million people have crossed Sudan's borders since April, fleeing the devastating war between the Sudanese army and the paramilitary...
Geostrategy
Iran and Cuba to set up joint ‘technology and innovation’ center
Tehran, Iran-- Iran and Cuba are looking to to set up a joint technology and innovation center to promote cooperation...
Economy
Most Read
Business
DEWA embraces Microsoft’s Copilot to drive digital transformation
Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has adopted Microsoft Power Platform and its AI-powered tool Copilot to build smart...
- In order to benefit from the capabilities of generative AI, DEWA is looking to utilize the latest global technologies in all areas to enhance its digital transformation
- Microsoft's Copilot will assist software developers at DEWA in building smart programs and applications that support DEWA’s operations more smoothly
Economy
S&P confirms Saudi Arabia’s credit rating at A/A-1 amid reforms
Riyadh, Saudi Arabia--Standard & Poor’s (S&P) has confirmed Saudi Arabia’s credit rating, both in local and foreign currency, as “A/A-1”...
- The agency gave a stable rating in the wake of the kingdom's ongoing initiatives to carry out significant reforms and achieve structural improvements
- The kingdom's growth, according to S&P, will increase at a rate of 3.4% between 2024 and 2026 mainly due to the anticipated rise in oil demand
Economy
Inclusive policies key to greater global cooperation
“By placing an emphasis on inclusive policies, embracing digitalization and fostering stronger international collaboration, we can establish a trade landscape...
- Shamika N. Sirimanne emphasizes the need for inclusive policies and digital transformation to boost global trade
- UN's fifth global survey shows 68.6% of trade facilitation measures from WTO's agreement have been implemented