Date palm cultivation in AlUla sees increased productivity
AlUla, Saudi Arabia - Date palm cultivation in AlUla governorate has witnessed a significant increase in productivity this year, with...
China regulator to ban Evergrande chair from securities market for life
BEIJING, CHINA – Chinese regulators will ban the chairman of property giant Evergrande from the securities market for life on grounds...
Geostrategy
Business
$1.59 bn worth of deals signed on Day 3 of Global Entrepreneurship Conference
On the third day of the Global Entrepreneurship Congress (GEC) in Riyadh, SAR 6 billion ($1.59 bn) worth of agreements...
- The Small and Medium Enterprises Financing Guarantee Program “Kafalah" signed a number of agreements with a number of ministries as well as public and private sector institutions.
- Monsha'at) also signed various cooperation agreements and launched National Industrial Development and Logistics Program “Thousand Mile” Initiative.
Economy
Dubai summit highlights future to governments
This year’s summit has brought together 190 countries, over 500 speakers, and 4,000 participants worldwide to discuss the future of...
- The summit’s topics focused on policies that drive progress and government development, sustainability, and future technology
- The Investopia Summit was launched as part of the WGS 2022 to improve global economic and investment sectors
Economy
Muslims face frugal Ramadan as Ukraine war drives up food prices
Russia's Ukraine invasion, which has already exacerbated food woes in parts of Africa and the Middle East, is marring preparations...
- Russia and Ukraine account for a huge share of the globe's exports in several major commodities such as wheat, vegetable oil and corn
- The disruption in export flows resulting from Russia's invasion and international sanctions has spurred fears of a global hunger crisis
Economy
Russia accused of causing ‘global food crisis’ at UN
'Russia's aggression against Ukraine is increasing the risk of famine around the world,' France's representative to the UN said.
- Russian President Vladimir Putin can stop the global food crisis, US Deputy Secretary of State Wendy Sherman told the Security Council
- According to WFP, Russia and Ukraine export 30% of the world's wheat, 20% of corn, and 75% of sunflower oil
Economy
More than 30 NGOs slam Tunisia economic crimes amnesty
"The criminal reconciliation decree feeds impunity and hides the truth," 34 organizations said in a joint statement.
- Tunisian President Kais Saied has put money-laundering crimes including theft of public funds
- The criminal reconciliation decree do not jail the offender but allows for the 'payment of sums of money'
Economy
‘Saudi Arabia spending on technology is globally the highest’
Digital Government Authority has launched the Digital Government Investment and Procurement Program (SADAF) initiative to accelerate digital procurement in government...
- Digital Government Authority has launched the Digital Government Investment and Procurement Program (SADAF) initiative to accelerate digital procurement in government agencies
- SADAF will be a gateway to digital investment for the public and private sectors, leading to a sustainable digital economy
Business
Qatar to invest $5bn in Egypt, with an eye on offshore gas
The move is being seen as another sign of a growing rapprochement between the two countries following last year's restoration...
- A Cairo statement said Qatar was to plough $5 billion in ‘investments and partnerships’ in Egypt, but did not give specifics
- However, QatarEnergy announced an agreement with ExxonMobil to acquire a 40% interest in a gas exploration block off Egypt
Economy
Palestine wants Russia-Ukraine war to stop: Minister
Hard-pressed to prop up the economy and stem steep price hikes if the Ukraine war continues, Khaled Osaily, Economy Minister...
- "I pray to God to stop this crazy war,"Osaily told TRENDS during a phone interview from Ramallah. "We don't know what will happen tomorrow
- Osaily said the PA's predicaments are worse than those of established states."We are under occupation. We don't have a central bank or currency. We are unable to finance salaries"
Business
Nahdi shares fall 1.26 percent
The firm made a strong debut on the Saudi stock exchange on Mar 22.
- Nahdi's initial public offering price was SR131, raising $1.36 billion in the biggest Saudi IPO since oil giant Aramco.
- Its profits dropped to SR813 million ($216.63 m) from SR849 million ($226.22 m) a year earlier, according to a bourse filing.
Economy
Saudi private equity, capital growth doubled in five years : Al Quwaiz
Private equity and capital growth in Saudi Arabia has reached SR12 billion ($3.2 billion), Mohammad Al-Quwaiz, chairman of the board...
- Mohammad Al-Quwaiz, chairman of the board of the Capital Market Authority, was speaking at the Global Entrepreneurship Congress 2022 in Riyadh.
- He cited the vitality of fintech companies in the business sector, and explained how the advent of these companies has reshaped the Saudi economy.
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Date palm cultivation in AlUla sees increased productivity
AlUla, Saudi Arabia - Date palm cultivation in AlUla governorate has witnessed a significant increase in productivity this year, with...
Company News
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Battered by war, Sudanese start small businesses to survive
Until April 15, when the conflict erupted between the army headed by General Abdel Fattah al-Burhan and Mohamed Hamdan Daglo's...
Economy
Cristiano Ronaldo’s goal propels Al-Nassr to win King Salman Club Cup
Taif, Saudi Arabia-- Cristiano Ronaldo led his team to victory as Al-Nassr FC won the 2023 King Salman Club Cup...
Business
GCC deals with rice shortage amid Russia-Ukraine war
The Russian-Ukrainian war heightens global food crisis fears as India, followed by the UAE and Russia, sequentially impose rice export...
Economy
Most Read
Geostrategy
Lebanon detains 134 Europe-bound migrants near Syrian border
BEIRUT, LEBANON -The Lebanese army arrested 134 migrants near the northern border with Syria on Saturday after foiling their attempt to...
- 130 Syrians and remaining four Lebanese nationals were taken into custody in the coastal town of Sheikh Zennad, in Akkar province.
- Migrants departing from Lebanon head for Europe, with one of the of the main destinations being Cyprus, only 110 miles away.
Business
Cage fight with Zuckerberg will be in Italy, says Musk
WASHINGTON, US - Elon Musk said that his much-hyped cage fight with Mark Zuckerberg would take place in Italy, as authorities...
- Musk said on his X social media platform - formerly known as Twitter - that arrangements were advancing.
- Meta chief Zuckerberg responded on his Threads social network, posting a photo of himself shirtless and pinning down an opponent.
Geostrategy
US to invest $1.2 bn on facilities to pull carbon from air
The two projects -- in Texas and Louisiana -- each aim to eliminate one million tons of carbon dioxide per...
- Direct Air Capture (DAC) techniques focus on that CO2 emitted into the air, which is helping to fuel climate change and extreme weather.
- Each of the projects will remove 250 times more CO2 from the air than the largest carbon capture site currently in operation, the Energy Department said.