Gross written premium rises by 12.7% in Q4 2023 to US$14bn, says CBUAE
ABU DHABI, UAE - The UAE insurance sector continued to grow in Q4 2023, as reflected by the increase in...
Economy
Saudi tourism hits record $36 billion inbound spending in 2023
Riyadh, Saudi Arabia - Saudi Arabia's tourism sector contributed to a record-breaking $36 (SR135 billion) in spending by international visitors....
Economy
Economy
UK gives visa waiver to Saudi Arabia, Bahrain
The UK Home Office affirmed that “an electronic visa waiver allows the holder to travel to the UK without obtaining...
- The UK Home Office affirmed that “an electronic visa waiver allows the holder to travel to the UK without obtaining a visa provided they complete an online waiver for each visit
- UK Home Secretary Priti Patel said that the visa waiver for Bahrain and Saudi Arabia will better connect the people of our countries and boost economic prosperity
Economy
Oman-India Joint Commission to discuss Free Trade Agreement with GCC
A meeting of the Oman-India Joint Business Council, under the umbrella of the Federation of Indian Chambers of Commerce and...
- A meeting of the Oman-India Joint Business Council, under the umbrella of the Federation of Indian Chambers of Commerce and Industry and the Oman Chamber will be held Friday
- At this meeting, ministers from both sides will interact with the business communities, the Indian Ministry of Commerce and Industry said
Economy
US nears 1m Covid dead, as New York seeks to move on
America recorded its first coronavirus death, on the West Coast, in early February 2020. By the next month, the virus...
- The US has recorded a rise in the number of daily virus cases in recent weeks due to the new Omicron subvariant and the lifting of mask mandates
- Ideological clashes in public over curfews, mask mandate, and vaccine mandates resulted in the country hitting the highest death toll in the world
Geostrategy
Russia slaps sanctions on Western energy firms
The sanctions include a ban on transactions and the entry into Russian ports of vessels linked to the affected companies.
- The sanctions target 31 companies, most belonging to the Gazprom Germania group of subsidiaries of Gazprom
- The sanctions also affect Poland's EuRoPol GAZ SA, the owner of the Polish part of the Yamal-Europe gas pipeline
Economy
Abu Dhabi’s non-oil foreign trade in Q1 grows by 15 percent to $16.74 billion
Abu Dhabi’s non-oil foreign trade in the first quarter (Q1) of 2022 amounted to AED61.522 billion ($16.74 billion), a 15...
- Exports grew by 35 percent in the first three months of the year compared to the same period of last year to reach AED24.449 billion.
- Saudi Arabia accounted for the largest share of total trade of 23 percent, valued at AED13.921 billion.
Economy
US inflation may have peaked, but pain continues
With surging prices undermining wage gains and hurting American families, US President Joe Biden said Tuesday that fighting inflation is...
- Biden blame Russian invasion on Ukraine for the recent spike in price in US saying that "taking inflation very seriously"
- US consumer prices jumped 8.5% in the 12 months that ended in March, rate is likely to remain high for months to come
Economy
Lebanon: small, multi-religious Mideast country
Lebanon is going through a severe economic crisis, described by the World Bank as one of the world's worst since...
- Lebanon is going through a severe economic crisis, described by the World Bank as one of the world's worst since the 1850s
- Lebanon's population of around 4.5 million is dwarfed by its diaspora, spread across the Americas, Europe, Africa and Australia
Business
ADQ to fund investments worth more than $4 billion in Greece
ADQ will work with the Hellenic Development Bank (HDB), the national development bank of Greece, and Hellenic Development Bank of...
- In 2021, the value of non-oil foreign trade between the UAE and Greece reached nearly AED 2.1 billion.
- The growth of trade, when compared to 2020, was 67 percent, reflecting a significant spike in growth.
Business
Nintendo profits rise as demand booms
The rise is also attributed to the popularity of the Switch.
- The company, which has benefited from a string of popular titles including "Pokemon Legends: Arceus", posted a 2021-22 net profit of 477.7 billion yen.
- Uncertainties linked to the global chip shortage and potential production and transport delays caused by Covid-19 lockdowns could hit future profits.
Economy
Food delivery drivers launch rare strike in UAE, demand pay rise
Food delivery drivers in the UAE went on strike Tuesday to demand better pay, the second such incident this month...
- Many workers for Talabat, part of Germany's Delivery Hero, did not show up for their shifts, calling for a pay increase amid the global rise in fuel prices.
- The latest protest comes after drivers for Deliveroo, another popular food delivery app, went on strike earlier this month after company plans to cut their pay.
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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
Gross written premium rises by 12.7% in Q4 2023 to US$14bn, says CBUAE
ABU DHABI, UAE - The UAE insurance sector continued to grow in Q4 2023, as reflected by the increase in...
Economy
Company News
Latest News
Saudi Arabia and Turkey to boost ties in industrial, mining sectors
The two countries signed a memorandum of understanding (MoU to boost mining cooperation in critical minerals needed in new technologies...
Economy
GCC shows economic resilience as inflation hits globe
GCC countries consistently maintain inflation rates below the global average, with the Food and Beverages CPI subcategory showing moderate growth...
Economy
NEOM to set up education, research and innovation center
TABUK, SAUDI ARABIA – NEOM has announced plans to establish a world-class education, research and innovation (ERI) center, following last...
Arts & Culture
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Economy
Oman and South Korea sign agreement on green energy transition
Muscat, Oman--Oman has signed a memorandum of understanding (MoU) with South Korea in the field of green energy transition. The...
- The agreement underscores keenness in both countries to consolidate cooperation in green transition as the relations deepen
- The two countries will devise green transition policies and programs and develop technologies for environment conservation
Economy
It’s time to address universal issues through media
Many Filipino media professionals are working in the UAE that forms the core of media cooperation. “Given the strong friendly...
- The Philippines believes in the value of nations working together to explore new approaches to address global issues and concerns, through the media
- Given the strong friendly relations between the Philippines and the UAE, there is much more potential in many areas, especially in the media sector
Economy
Red Sea Global launches ‘Tamala’ to transform agricultural economy in Tabuk
Riyadh, Saudi Arabia--Red Sea Global (RSG) has announced the launch of the Red Sea Farms Cooperative (Tamala), established through integrated...
- Tamala intends to develop a model entity in order to boost the role of cooperatives in the agricultural sector in the kingdom
- It plans to provide agricultural inputs to farmers which contribute to improving agricultural production and farmers' quality of life