Saudi Arabia launches ‘National Semiconductor Hub’
At least 50 semiconductor design companies will be established in Saudi Arabia by 2030 after a new initiative was launched to develop...
Economy
The Middle East fastest growing Real-Time Payments market globally
For the second consecutive year, the Middle East is the fastest-growing real-time payments market globally, according to the 2024 Prime...
Economy
Geostrategy
Chad rebels pull out of peace talks with military government
A host of Chadian rebel and political groups on Saturday withdrew from talks with the African nation's military government, accusing...
- A national peace dialogue intended to pave the way for elections would start on August 20,
- Chad is one of the world's poorest nations and the government said the talks were intended to end decades of unrest
Economy
Euro faces many hurdles on way to recovery against dollar
The euro's plunge against the dollar, triggered by the Ukraine war and mounting risks to the EU economy, has driven...
- French President Emmanuel Macron even said on Thursday that Russia was using energy "as a weapon of war"
- Like other central banks, the European Central Bank (ECB) is seeking to avoid stifling the economy by raising rates too sharply
Geostrategy
UAE delegation highlights good governance initiative
The UAE delegation to the 2022 High-Level Political Forum on Sustainable Development (HLPF) at the United Nations (UN) Headquarters in...
- The UAE delegation concludes successful visit to the 2022 High-Level Political Forum on Sustainable Development
- The delegation presents the second edition of the UAE’s National Voluntary Review Report at the UN Headquarters
Geostrategy
‘Unrealistic policies to curb emissions could fuel inflation’
Saudi Crown Prince Mohammed bin Salman warned that unrealistic policies to curb emissions could fuel inflation, as he chaired a...
- Saudi Crown Prince Mohammed bin Salman said unrealistic policies to curb emissions could fuel inflation
- Last year, Saudi Arabia pledged ahead of the COP26 climate change summit to achieve net zero carbon emissions by 2060
Geostrategy
Biden invites United Arab Emirates president to US
US President Joe Biden on Saturday invited his UAE counterpart, Sheikh Mohamed bin Zayed Al-Nahyan, to visit the United States...
- US President Joe Biden invites his UAE counterpart, Sheikh Mohamed bin Zayed Al-Nahyan, to visit the United States
- The US President said he wanted the United Arab Emirates President to visit the United States this year
Economy
Abu Dhabi EAD launches environmental labeling program
The Environment Agency - Abu Dhabi (EAD) launched the 'Green Industries' environmental labeling program. The program is based on best...
- The 'Green Industries' environmental labeling program is based on best international practices in the field of eco-labeling
- The program aims to build mutually supportive partnerships to enhance the contribution of industrial facilities to environmental protection.
Geostrategy
Saudi citizens’ US visitor visas validity raised to 10 years
The United States Mission to Saudi Arabia has announced that Saudi citizens visitor visas (B1/B2) validity has been increased from...
- The visitor visas (B1/B2) validity has been increased from five to 10 years and will be applicable from August 1, 2022
- The decision on the visas has been taken in cooperation with the Saudi government on a reciprocal basis
Economy
Saudi inflation inches up to 2.3%, driven by high food prices
Inflation in Saudi Arabia jumped to 2.3 percent, in June, from 2.2 percent in May, driven by a rise in...
- While the annual growth in the transport index slowed to 2.47 percent in June from 4.05 percent in May, the growth rate in the housing and utilities group doubled to 1.02 percent
- The food and beverages category’s contribution to headline inflation changed less in June compared to May at around 36 percent
Economy
Libya oil firm lifts force majeure at terminals, groups end blockade
Force majeure is a legal measure allowing companies to free themselves from contractual obligations in light of circumstances beyond their...
- Force majeure is a legal measure allowing companies to free themselves from contractual obligations in light of circumstances beyond their control
- Groups demanding more "equitable distribution" of the country's oil revenues had since mid-April blockaded six oil fields and export terminals
Business
Saudi Arabia, US sign 18 agreements in key sectors
The agreements -- covering space, investment, energy, communications and health -- aim to strengthen bilateral relations between the two countries.
- The agreements -- covering space, investment, energy, communications and health -- aim to strengthen bilateral relations between the two countries.
- The deals include 13 agreements made with the Ministry of Investment, the Royal Commission for Jubail and Yanbu and numerous private sector firms
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Saudi Arabia launches ‘National Semiconductor Hub’
At least 50 semiconductor design companies will be established in Saudi Arabia by 2030 after a new initiative was launched to develop...
Economy
Company News
Latest News
UN meet looks to salvage promises on helping world’s poorest
The UN head said the summit will seek a "global rescue plan" on the targets of Sustainable Development Goals, as...
Economy
Surplus in overall balance makes UAE’s economy robust
"The fiscal policy bolstered economic growth and the competitive business environment, leading to the UAE being ranked as the fastest-growing...
Economy
Climate action an opportunity to create more equitable world: Almheiri
Dubai, UAE-- Terming climate action as an opportunity to create a more equitable and sustainable world, Mariam bint Mohammed Almheiri,...
Economy
Most Read
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...
- Since the authorities inaugurated a new passport office in the eastern city of Port Sudan in late August, hundreds of people have lined up all day, every day
- Sudan was already one of the world's poorest countries even before the war broke out, but now it has plunged into a horrific humanitarian crisis
Economy
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...
- The two countries apart from boosting economic ties are keen to develop mutual cooperation in the fields of science and technology
- Cuba is planning to hold an exhibition in 2024 and has invited Iranian knowledge-based companies to showcase their latest achievements
US Fed likely to pause rate hikes despite higher inflation
The Fed has raised interest rates 11 times over the last 18 months, lifting its key lending rate to a...
- Inflation has ticked up again in recent months due to a spike in energy costs, keeping up the pressure on the Fed
- In recent weeks many policymakers have said that additional rate hikes will likely be needed to bring inflation down