Saudi Arabia invests billions in biotech sector: report
The kingdom accelerates its biotech and genomics sector with substantial investments, in line with Vision 2030's push for economic diversification...
Economy
MENA’s rising debt: A cause for global concern
MENA's debt-to-GDP ratio surged 23% in 6 years due to pandemic fallout, with only 8 of 19 countries returning to...
Economy
Economy
Asian markets mixed as US jobs data give Fed room to hike rates
Asian markets were mixed Monday following a steep drop on Wall Street in response to a forecast-topping US jobs report...
- Hong Kong, Tokyo, Shanghai and Taipei all rose, but there were losses in Sydney, Singapore, Manila and Jakarta
- US traders took flight after the closely watched non-farm payroll figures Friday, which showed more new posts created than expected
Economy
Commercial marinas to issue yacht sailing permits in KSA
Some commercial marinas in Saudi Arabia would be allowed to issue yacht sailing permits which would help develop cruises in...
- Yacht sailing permits would help in developing and facilitating cruises in the Kingdom’s territorial waters
- The initiative would ensure support for tourism development and enhance employment in the sector
Geostrategy
Western powers to censure Iran amid stalled nuclear talks
Major European countries and the United States are expected to seek to censure Iran when the UN atomic watchdog meets...
- Iran has warned "any political action" by US and E3 group would "provoke without any doubt a proportional, effective and immediate response
- The latest IAEA report said that Iran now has 43.1 kilograms (95 pounds) of 60-percent-enriched uranium
Economy
UAE President orders completion of AED2.3bn housing project
Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said that all housing grant applications will be processed in...
- All housing grant applications will be processed in the next five years, says UAE's Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei
- It includes housing grant applications submitted by applicants who are eligible under the Programme's terms and conditions, the minister adds
Economy
SALIC gets Saudi Grains Organization contract to supply wheat
The amount awarded represents 20 percent of the total allocated to investors abroad, Governor of SAGO, Ahmad Al-Fare said.
- The SALIC, owned by the Public Investment Fund, was established in 2011 to secure food supplies for the Kingdom
- The amount awarded represents 20 percent of the total allocated to investors abroad, Governor of SAGO, Ahmad Al-Fare said
Economy
Egypt to sign wheat-for-goods swap deal with India to fight shortage
Moses Elhy met with the Indian ambassador to Egypt on Wednesday to discuss the potential swap agreement for 500,000 tons...
- Moses Elhy met with the Indian ambassador to Egypt on Wednesday to discuss the potential swap agreement for 500,000 tons of wheat
- The Egyptian government has also in talks with the UAE, the US and western Europe in a bid to ease potential shortages
Economy
Govt says 200 Qatari nationals got jobs in private firms in May
The Labor Ministry has made a lot of efforts to ensure that Qatari nationals get employment in private sector companies...
- 10 companies and institutions had cooperated with Labor Ministry to employ Qatari nationals in May
- Since January 729 Qatari nationals have been employed in private sector companies and institutions
Economy
Saudi Arabia aims to triple foreign tourism in 2022: Minister
Saudi Arabia aims to triple foreign tourism this year as pandemic restrictions ease, hajj pilgrims return and the first elements...
- The kingdom inaugurated tourist visas in September 2019, just months before the coronavirus pandemic decimated the industry globally.
- An uptick in domestic travel in 2020 and 2021 –- authorities tallied a record 64 million "domestic visits" last year –- helped save the nascent Saudi tourism sector from collapse.
Economy
Jordan’s wholesale price index up 5.6 percent as fuel, mineral prices surge
Jordan’s wholesale price index in Q1 2022 increased by 5.66 percent, reaching 102.64 points against 97.14 during the same period...
- The wholesale price index in the first quarter of 2022 went up by 2.08 percent compared to the fourth quarter of 2021.
- The boost in price of machine trade and their supplies by 5.33 percent or 0.49 points played a role in the index increase.
Business
Jordan’s energy ministry signs two MoUs for copper, gold exploration
The Ministry of Energy and Mineral Resources on Sunday inked an MoU with a local company to explore for copper...
- The Jordan Integrated Mining and Exploration Company will conduct a 16-month copper exploration of a 78-square-kilometre area.
- The Turkish "Solvest Trade and Industry Limited Company" will conduct a 14-month gold exploration in the Abu Khashiba Valley.
Saudi Arabia invests billions in biotech sector: report
The kingdom accelerates its biotech and genomics sector with substantial investments, in line with Vision 2030's push for economic diversification...
Economy
Company News
Latest News
Saudi non-oil activities push Q2 economic growth to 1.2%
Riyadh, Saudi Arabia -- Saudi Arabia’s real GDP grew by 1.2 percent in the second quarter of 2023, compared to...
Economy
China reports drop in exports and imports in August
Beijing, China--China's exports and imports sank again in August, data showed Thursday, as the world's second-largest economy struggles with sluggish global...
Economy
Saudi Arabia’s economy and fiscal position strong due to Vision 2030: IMF
Riyadh, Saudi Arabia-- Saudi Arabia's economy is in a state of prosperity and growth, and that the kingdom's fiscal position...
Economy
Most Read
Economy
China’s digital economy surged by $4 trillion from 2016 to 2022
Tianjin, China - The digital economy in China surged by $4.1 trillion from 2016 to 2022, which works out as...
- By 2022, the scale of China's digital economy had reached an impressive $6.99 trillion, constituting a substantial 41.5% of the nation's GDP
- China has established over 1,700 digital workshops and smart factories and more than 240 industrial internet platforms
Economy
Qatar’s non-energy private sector records strong growth in August
Doha, Qatar--Qatar's non-energy private sector witnessed strong expansion in August on the back of new orders in the manufacturing and...
- According to the QFC's latest purchasing managers' index (PMI) survey, the expansion rate was the third strongest so far in the current year
- QFC CEO Yousuf Mohamed al-Jaida said PMI has held steady over the past six months at a level consistent with solid economic growth
Economy
Israel suspension of Gaza exports risks ‘catastrophe’: businesses
Osama Nofal, of the Gaza economic ministry, put the value of Gaza exports to Israel and the occupied West Bank...
- Israel's army chief on Monday ordered a halt to commercial deliveries from Gaza to Israel after an alleged attempt to smuggle explosives
- The Gaza Strip has been under a crippling Israeli blockade since the Islamist group Hamas seized power in the Palestinian territory in 2007