Saudi Arabia set to leap into space tourism by 2026
Madrid-based Halo Space Company has selected Saudi Arabia as its launch site for space tourism, offering tours at $164,000 per...
Economy
India plugs into the Gulf region with power cables
India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via...
Economy
Opinion
COP28: An opportunity to create a new narrative
The COP28, to be hosted in Dubai in 2023, is at a convenient time frame away from the recently concluded...
- The Middle East, with its long-standing water and food scarcity, arid/semi-arid climate, desert conditions, and a lack of groundwater resources, is key victim of global warming
- Ahead of hosting COP28, the UAE is well-positioned to press ahead with its strategies for sustainable food, water and agriculture systems
Videos
UAE, Saudi Arabia in key global pension index
Here’s a look at what landed the UAE and Saudi Arabia among some of the better countries with a pension...
- A good pension scheme could help a person retire with varying degrees of financial independence
- It depends on factors like their monthly pension amount, passive income, and overall expenditure
Economy
Jordan saw its GDP grow 2.2% in 2021 as compared to 2020
The numbers come from a quarterly statistical report released on Sunday by the Department of Statistics.
- The country’s GDP inched up by 2.6 percent in the fourth quarter of last year compared to the same period in 2020
- The construction sector expanded 6.1 percent in the reporting period, followed by the extractive industries at 5.6 percent
Economy
UN talks on climate solutions wrap up two days into overtime
Two-weeks of virtual talks were contentious from the start, as nearly 200 nations grapple with hard choices about how to...
- Two-weeks of virtual talks were contentious from the start, as nearly 200 nations grapple with hard choices about how to rapidly purge carbon pollution from their economies.
- The UN's Intergovernmental Panel on Climate Change (IPCC), due to be published on Monday, will detail how industries must be reimagined to cut greenhouse gas emissions
Economy
Britain may build seven nuclear power plants by 2050
Britain could build up to seven new nuclear power plants by 2050, as well as offshore wind to diversify energy sources,...
- Britain has set itself a target of carbon neutrality by 2050 and the government could publish a delayed new energy security strategy
- About 21 per cent of Britain's electricity comes from 15 nuclear reactors today, according to Energy UK trade association
Economy
Bahrain authorities allay fears over tomato price rise
Bahrain’s Ministry of Industry, Commerce, and Tourism has announced that big shipments of tomatoes would arrive within the next few...
- Bahrain’s Ministry of Industry, Commerce, and Tourism has said it is closely monitoring the availability of products in the central markets
- The ministry is looking to ensure that there are multiple options for basic food products, such as fruits and vegetables, at the usual prices
Economy
People flee Lebanon to Iran in search of employment
Lebanon is grappling with an unprecedented financial crisis that the World Bank says is of a scale usually associated with...
- Lebanon’s crisis, driven by years of endemic corruption, has seen its currency lose more than 90 percent of its value against the dollar
- The monthly minimum wage now fetches around $30 on the black market, with 80 percent of the population now living in poverty
Economy
War-torn Yemen holds breath as breakthrough truce begins
The UAE has expressed its "support" for the UN ceasefire, which was also welcomed by the US, UN chief Antonio...
- Houthi rebels and the Saudi-led coalition agreed to stop all ground, air, and sea military operations in Yemen for two months
- Both sides involved in the Yemen conflict have agreed to open roads in Taez and other governorates
Economy
Gulf countries warm up to waste-to-fuel plans
Here’s a broader look at how the region has prioritized solid-waste recycling and the production of alternative fuels to deal...
- Solid waste management is one of the most critical challenges facing all GCC countries
- Construction waste accounts for 53% of the total solid waste generated in the Gulf countries
Business
Fitch Ratings says Saudi corporates’ funding mix is evolving
Saudi corporates’ funding mix is evolving, with the debt capital market for firms increasing noticeably and averaging a 10 percent...
- Fitch also expects the large Islamic banking sector to drive domestic sukuk growth
- Local Sukuk issuances have steadily grown in the local capital market, totalling 41 percent of DCM activity in 2021
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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
Saudi Arabia set to leap into space tourism by 2026
Madrid-based Halo Space Company has selected Saudi Arabia as its launch site for space tourism, offering tours at $164,000 per...
Economy
Company News
Latest News
Saudis, Emiratis gain wealth, but disparity remains
In 2022, 45 percent of adults in Saudi Arabia had a net worth of less than $10,000, against 43 percent...
Economy
Bahrain supports AI tendering platform, Procural, to create jobs
Manama, Bahrain - Tamkeen, a semi-autonomous government agency, tasked with developing Bahrain's private sector has decided to support the Bahrain-based...
Economy
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Economy
Under UAE Presidency, COP28 will lead global efforts to protect the planet, safeguard future generations
"The UAE possesses essential capabilities such as modern infrastructure, a commendable track record in sustainability and environmental conservation, recognition as...
- Sheikh Mohamed highlights role of youth, women, and civil society in combating climate change
- UAE invites global cooperation for collective climate action, COP28 to lead efforts under UAE Presidency
Geostrategy
Nearly 40 migrants rescued, others found dead off Cape Verde
The boat was spotted on Monday almost 200 miles from the island of Sal by a Spanish fishing boat, which...
- Media reported that the "pirogue" style boat common in the region left Senegal a month ago
- Senegal's foreign ministry said that 38 people were rescued from the migrant boat off the Cape Verde coast
Economy
Global wealth set to rise by 38% over the next five years: study
Zurich, Switzerland – The latest Global Wealth Report predicts global wealth to reach $629 trillion by 2027, despite 2022 being...
- The report estimates wealth per adult to reach $110,270 in 2027 and the number of millionaires to rise to 86 million
- When looked at in demographic terms, Generation X and Millennials continued to do relatively well in 2022