Saudi Arabia offers 50% discount on accumulated traffic fines before April 18
Riyadh, Saudi Arabia - The Saudi Ministry of Interior has announced a significant measure aimed at reducing the burden of...
Economy
Russia becomes world’s fourth-biggest LNG producer, says PM
MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian...
Business
Analysis
World economies witness new stagflationary shocks
Since the outbreak of the pandemic, the Southeast Asian countries have lagged the performance of advanced economies due to initially...
- The war in Ukraine and the interaction of the highly contagious Omicron variant with China's 'zero-Covid' policy are pushing up global inflation
- Southeast Asia has lagged performance of advanced economies due to initial low vaccination rates, supply chain constraints and less accommodative fiscal policies
Economy
Saudi Arabia, UPLink in deal to counter sustainable development issues
This is a part of the Kingdom’s agenda to achieve sustainable development 2030 locally and internationally.
- The Saudi ministry seeks to explore the joint issues in the field of food security, food waste recycling.
- The move is a part of the Kingdom’s agenda to achieve sustainable development 2030 locally and internationally.
Business
Iraq allocates $2bn for Baghdad Metro project
Two billion dollars are allocated in the budget for Baghdad Metro project, Iraq’s Minister of Transport Nasser Hussein Al-Shibli said...
- Prime Minister, Mustafa Al-Kadhimi, said that the phenomenon of traffic jams is unacceptable
- Al-Kadhimi stressed the need to work for activating traffic lights in the streets of Baghdad
Business
Wall Street stocks rally first time in two months as inflation dips
Wall Street stocks rallied Friday following signs of moderating inflation, finishing with weekly gains for the first time in about...
- The Dow Jones Industrial Average climbed 1.8 percent, or about 575 points, to 33,212.96, a weekly increase of 6.2 percent
- Friday's gains extend a rally that began Wednesday, reversing the battering stocks have encountered most of the year
Geostrategy
Iran Revolutionary Guards say seized two Greek tankers in Gulf
Iran's Revolutionary Guards seized two Greek oil tankers in the Gulf Friday, days after Athens confirmed it would deliver to...
- Delta Poseidon, one of the Greek tanker was sailing in international waters and second tanker was near the Iranian coast when seized
- Greece has accused Iran of "piracy" and confirmed that nine Greeks were among the crews of the two vessels
Economy
UAE’s non-oil foreign trade surged to Dh527.5b in Q1-22
The minister added that the UAE's exports grew around 18 percent YoY to AED91 billion by end of Q1-22, noting...
- The minister added that the UAE's exports grew around 18 percent YoY to AED91 billion by end of Q1-22, noting that exports have doubled over the past five years
- Dr. Al Zeyoudi explained that the UAE's non-oil imports grew 25 percent during Q1-22 to AED292 billion, with re-exports hitting AED144 billion
Economy
Abu Dhabi tops list of capitals with least traffic congestion for 2021
The new ranking of the UAE capital is based on a combination of criteria, including the rate of traffic congestion...
- The new ranking of the UAE capital is based on a combination of criteria, including the rate of traffic congestion at intersections and streets at various times during the day
- Abu Dhabi recorded 11 percent congestion level, reflecting the impact of the integrated traffic management plan implemented by the Department of Municipalities and Transport
Business
Tourism helps Saudi economy diversify away from oil
The kingdom eyes over 70 million visitors this year as the country jumps from 43rd to 33rd spot on the...
- Developing the tourism sector is part of the kingdom's plans to diversify the economy away from oil, says Princess Haifa Al Saud
- The kingdom plans to make the pilgrimage easier, especially after disruption caused by the Covid-19 pandemic, she highlights
Arts & Culture
Saudi Arabia launches 40% cash rebate for film productions
The program provides big support to local, regional and international film producers to shoot their works inside Saudi Arabia.
- The program provides big support to local, regional and international film producers to shoot their works inside Saudi Arabia
- The commission called on Saudi and international production companies that are planning to shoot in the oil-rich kingdom to apply for the incentive program
Economy
Three Saudi ports make world records on CPPI 2021
The CPPI is an indicator produced by the Transport Global Practice of the World Bank.
- The CPPI is an indicator produced by the Transport Global Practice of the World Bank.
- The King Abdullah Port ranks first on the list of 370 global ports, while Jeddah Islamic Port ranks eighth
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
Saudi Arabia offers 50% discount on accumulated traffic fines before April 18
Riyadh, Saudi Arabia - The Saudi Ministry of Interior has announced a significant measure aimed at reducing the burden of...
Economy
Company News
Latest News
Grain deal in focus as Putin, Erdogan all set to meet
MOSCOW, RUSSIA - Russian President Vladimir Putin will host his Turkish counterpart Recep Tayyip Erdogan on Monday, the Kremlin said, amid...
Geostrategy
Iran’s non-oil export to ECO countries from Mar 21 to July 22 2023 reaches $3.6bn
TEHRAN, IRAN – Iran’s export of non-oil products to the Economic Cooperation Organization (ECO) member states in the first four...
Geostrategy
Qatar’s Q2 2023 budget posts record surplus of US$2.7bn
DOHA, QATAR - The Ministry of Finance announced that the budget of Qatar for the second quarter of the year...
Economy
Most Read
Geostrategy
UAE, New Zealand discuss economic cooperation, free trade pact
DUBAI, UAE – Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade discussed deeper economic collaboration,...
- The UAE and New Zealand already share a productive trade relationship, with non-oil trade reaching US$805 million in 2022.
- UAE is New Zealand's leading trading partner in the Arab World, accounting for 2.5 percent of Wellington’s total foreign trade.
Economy
At 5%, Middle East has highest GDP share from tourism: report
Dubai, UAE - The Middle East has seen the strongest rebound in the post-pandemic global tourism recovery, according to a...
- Saudi Arabia and Türkiye recorded almost pre-pandemic levels of tourist arrivals in Q1 2023
- Asia Pacific is second, with over 4 percent of the region’s GDP coming from tourism
Business
Abu Dhabi to unveil one of world’s biggest airport terminal
Dubai, UAE - An airport terminal able to handle up to 45 million passengers a year will open in Abu Dhabi...
- Terminal A in the Abu Dhabi airport will be able to accommodate 11,000 travelers per hour and 79 aircraft at a time.
- The new facility, also known as Midfield Terminal Building, "is scheduled to begin operations in early November 2023", local media said.