Space economy set to triple to $1.8trn by 2035, reveals new research
The growth of the space industry will largely be built upon the increased reach of space-based and/or -enabled technologies, such...
Saudi’s Modon attracts $3.8bn industrial investments in 2023
Saudi Authority for Industrial Cities and Technology Zones (Modon) has announced significant progress in attracting industrial and logistical investments for...
Economy
Economy
Saudi Arabia, UAE try to ease inflation pain of citizens
"A generous royal order was issued approving the allocation of financial support in the amount of SAR 20 billion (around...
- Saudi Arabia is disbursing billions of dollars directly to citizens to ease the effects of inflation
- The UAE has doubled the budget for its social security programme to AED 28 billion after a rise in fuel prices
Business
European stocks surge Monday after nosediving last week
Europe's stocks recovered somewhat Monday as investors tentatively regained some optimism following the heavy losses in the financial markets last...
- London stocks won 1.1 percent at midday, while Frankfurt and Paris gained 0.5 percent and 1.0 percent respectively.
- Markets have suffered sharp losses in recent weeks on fears that global rate hikes -- aimed at fighting soaring inflation.
Economy
IMF authorities in Tunisia to discuss bailout package
An IMF team said in March that the country faced "major structural challenges", with low growth and investment, along with...
- Tunisian central bank's press office told AFP that the two-week visit would involve officials from the bank and the finance ministry.
- The North African country, the birthplace of the 2011 Arab Spring uprisings, has been suffering under a grinding economic crisis.
Economy
CEPA with India, Israel, Indonesia to help UAE economic growth
The comprehensive economic partnership agreements (CEPA) signed by the UAE with India, Israel and Indonesia this year will help the...
- Comprehensive economic partnership agreements to help UAE's economy's growth by 2.6 percent by 2030
- The UAE is holding talks with several other countries for signing similar agreements
Economy
Dubai Supreme Council moots monitoring panel for petroleum trading
Dubai Supreme Council of Energy on Monday discussed establishing a permanent committee to monitor petroleum product trading in Dubai and...
- At its 71st meeting, the Council said that in 2021, savings were equivalent to 6.4 terawatts of electricity, approximately 12.5 percent of business as usual.
- Since 2011, demand-side programs have contributed to avoiding 14.1 million tons of carbon dioxide emissions, saving nearly AED9 billion.
Economy
Bezos flays US President for call to lower gasoline prices
Amazon founder Jeff Bezos has criticized President Joe Biden for calling on oil companies to lower sky-high gasoline prices, prompting...
- Soaring gasoline prices in US are sapping Biden's approval rating ahead of legislative elections
- White House Press Secretary said on Sunday that oil prices have dropped about $15 a barrel over the past month
Economy
Turkish inflation hits two-decade high of 78.6%
Inflation in Turkey in June soared to an annual rate of 78.6 percent, the highest in 24 years, official data...
- Economy Minister Nureddin Nebati on Friday "promised" that consumer prices will start dropping in December
- The data showed that headline inflation was driven by a 123.4% jump in the cost of transportation and a 94% increase in non-alcoholic drinks.
Economy
Oil prices may hit $380 a barrel if Russia lowers crude output
Global oil prices may hit $380 a barrel if Russia were to announce crude oil cuts in response to the...
- According to JPMorgan analysts currently Russia enjoys a strong financial position and it can afford to slash daily crude production by 5 million barrels
- It was after Russia’s invasion of Ukraine that the Western allies led by the US imposed several sanctions, and worked out a complicated mechanism to cap the price fetched by Russia
Non-Jordanian workers under deportation allowed to rectify status
The grace period decision included undocumented expats, who are currently still in the Kingdom
- The grace period decision included undocumented expats, who are currently still in the Kingdom
- The ministry said the guest workers must regularise their status and pay work permit fees and fines for delays in issuing these permits
A million pilgrims arrive in Mecca for Hajj, first since pandemic
White-robed worshippers from across the world have packed the streets of Mecca as Islam's holiest city prepares to host the...
- At least 650,000 overseas pilgrims have arrived so far in Saudi Arabia, the authorities said Sunday
- One million vaccinated pilgrims under the age of 65 will attend the hajj under strict sanitary conditions
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
Space economy set to triple to $1.8trn by 2035, reveals new research
The growth of the space industry will largely be built upon the increased reach of space-based and/or -enabled technologies, such...
Company News
Latest News
Qatar Airways’ profits fall
Economy
WFP warns fund cuts could push 24m people to brink of starvation
Geneva, Switzerland - The World Food Program said Tuesday that shrinking funding was forcing it to drastically slash rations in many...
Geostrategy
Building less, repurposing more key to low construction sector emissions
The industry is responsible for 37 percent of global carbon dioxide emissions and growing urbanization is spurring the construction of...
Geostrategy
Over 3,500 new members register with Ajman Chamber in H1 2023
AJMAN, UAE- The Ajman Chamber of Commerce and Industry (ACCI) has revealed that in the first half of 2023, at...
Business
Most Read
Economy
UAE Govt to offer 2.5% payment support for pensioners
Dubai, UAE - The UAE government has announced a 2.5 percent payment support to its citizens’ pension contributions through the...
- To be eligible for this pension support, insured individuals must be between 18 and 60 years old at the time of their appointment
- To fully benefit from the program, both registered entities and insured Emiratis must ensure that monthly contributions are made promptly
Economy
‘Saudi Arabia sees fastest growth among G20 nations’
"The Saudi economy achieved a growth rate of 8.7 percent in 2022, the fastest among G20 countries, surpassing the expectations...
- Saudi Arabia is not just a regional influencer but a global economic powerhouse, according to its Minister of Economy and Planning, Faisal bin Fadhil Alibrahim
- With a growth rate of 8.7% in 2022 and 17th rank among the world's most competitive economies, the Kingdom is setting stage for sustainable global economic growth
Economy
Saudi SME Bank inks pact with SIDBI of India
New Delhi, India - The Small and Medium Enterprises Bank (SMEB) of Saudi Arabia has signed an agreement with the...
- The agreement encompasses various components, including the design and formulation of engineering strategy data
- It involves the transfer of knowledge pertaining to credit practices, with a particular emphasis on supporting small and medium-sized enterprises