West tells Iran to ‘stand down’ Israel attack threats; Tehran says ‘no way’
With tensions soaring in the Middle East, the United States says that Iran along with its proxies might attack Israel...
Pre-tax net profit of Dubai Financial Market rises 74% to $53m in H1 2024
Dubai, Saudi Arabia - Dubai Financial Market (DFM) today announced its consolidated financial results for the period ended June 30,...
Economy
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
Business
EU car sales down 14 percent in H1 as supply shortages persist
EU auto sales slumped by 14 percent in the first half of this year, data showed Friday, as supply shortages...
- With the lack of computer chips still hobbling production, new auto sales slumped to 4.6 million in the European Union.
- Sales in Italy tumbled by 22.7 percent, by 16.3 percent in France, 11 percent in Germany and 10.7 percent in Spain.
Business
US stocks rise on strong retail sales, positive Citigroup results
Wall Street stocks rose early Friday as markets cheered unexpectedly strong US retail sales and better-than-expected results from Citigroup. After...
- About 35 minutes into trading, the Dow Jones Industrial Average was up 1.5 percent at 31,074.83.
- Among individual companies, Citigroup surged 7.8 percent after reporting better-than-expected earnings.
Economy
G20 finance ministers, top bankers warn of energy crisis
Other issues to be tackled by the ministers include digital financial inclusion –- with more than a billion of the...
- The two-day meeting on the resort island of Bali started under the shadow of a war that has roiled markets, spiked food prices
- Top global finance figures, including US Treasury Secretary Janet Yellen, will discuss the rebound from the coronavirus pandemic
Geostrategy
Jordan’s minister holds series of meetings with UN officials
Jordan's Minister of Planning and International Cooperation Nasser Shraideh held a series of meetings at the High Level Political Forum...
- The Jordanian minister met with several senior UN officials and presented the country's 2nd Voluntary National Review
- The minister briefed the UN officials on social and economic challenges facing the Kingdom
Economy
Chairman, CEO of Expo City Dubai Authority appointed
Vice President and Prime Minister of the UAE Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as the Ruler...
- Expo City Dubai Authority seeks to reinforce Dubai's position as a leading destination for global exhibitions
- The Authority will facilitate sharing of knowledge and experiences related to the management and organization of major events
West tells Iran to ‘stand down’ Israel attack threats; Tehran says ‘no way’
With tensions soaring in the Middle East, the United States says that Iran along with its proxies might attack Israel...
Company News
Yahsat to invest US$100m
Business
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Multiply Group buys stake
Business
GCC countries hold interest rates following US Fed decision
Abu Dhabi, UAE -- In the wake of the US Federal Reserve's decision to maintain its interest rates, GCC countries,...
Economy
Turkey expected to hike interest rate to 20-year high
The mercurial Turkish leader performed one of his trademark policy reversals after winning a difficult re-election in May. The vote...
Sharjah Chamber to host two-day Gulf-Iraq Business event
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) said it is likely to host the first Gulf-Iraq...
Business
Most Read
Economy
AI and LLMs poised to transform global job landscape
About 23% of global jobs will transform within five years due to LLMs and AI advancements, according to the World...
- About 23% of global jobs will transform within five years due to LLMs and AI advancements, according to the World Economic Forum's 'Future of Jobs Report 2023'
- Jobs like Credit Authorizers, Management Analysts, and Telemarketers face high automation risks, while Insurance Underwriters and Bioengineers offer brighter future
Economy
Stocks diverge as oil hits 10-month high of above $95 per barrel
Brent North Sea crude oil traded above $95 per barrel Tuesday for the first time since November last year, supported...
- The Federal Reserve is seen keeping interest rates on hold Wednesday but is expected to be cautious over the outlook as crude pushes higher.
- In Asian trading, Hong Kong managed a gain while Shanghai was flat. In Europe, London and Paris were in the green while Frankfurt was lower.
Business
Airports Council International sets up first office in Riyadh
Riyadh, Saudi Arabia-- The Airports Council International (ACI) for Asia-Pacific and the Middle East has established its first office in...
- The office was inaugurated by the kingdom's Minister of Transport and Chairman of the Board of Directors of the General Authority of Civil Aviation, Saleh Al-Jasser
- He said that the opening also aligns with the strategy aimed at strengthening air connectivity with countries worldwide, reaching 250 international destinations