GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...
Economy
Govt collaborations help Dubai lead in AI innovation
"Government entities must be thoroughly prepared for technological advancements that will change how they operate and provide services. A high...
Economy
Business
Points of Sale terminals in Saudi exceed 1 million, says SAMA
The Saudi Central Bank (SAMA) announced that the number of Points of Sale (PoS) terminals inside the kingdom have exceeded...
- These terminals can be found at commercial sales outlets in more than 180 cities and villages.
- PoS terminal transactions reaching more than 5 billion by the end of 2021, compared to 2.8 billion transactions in 2020.
Business
Investors’ forum discusses privatization scene in Saudi Arabia
Several investment companies and investors interested in privatization projects attended an investor forum organized by Saudi Arabia’s National Center for...
- The forum was organized by the National Center for Privatization in cooperation with Riyadh Bank.
- A series of opportunities are expected to be presented in the coming years, the Center said.
Economy
Jordan to supply Lebanon with electricity: Energy minister
Under the agreement, Lebanon will be provided with about 150 megawatts of electricity from midnight to 6 am, and 250...
- Under the agreement, Lebanon will be provided with about 150 megawatts of electricity from midnight to 6 am, and 250 megawatts during the remaining hours
- The project will benefit the Jordanian electrical system as Lebanon will be supplied directly from the Kingdom's power transmission networks
Business
Saudi Arabia’s real estate Price Index increased by 0.9 percent in Q4 2021
The General Authority for Statistics (GASTAT) released today through its official website a report on Real Estate Price Index in...
- Residential land prices were responsible for the rise in real estate prices in Q4 of 2020.
- The Real Estate Price Index is a statistical tool for measuring the relative change in real estate prices in the kingdom.
Business
Sharjah Chamber and European Women Association to foster trade ties
The agreement also provides the exchange of commercial data and statistics
- An MoU signed by the two sides will encourage the exchange of trade delegations and discussions in the fields of export and economy.
- The MoU was signed by Abdullah Sultan Al Owais, Chairman of the SCCI, and Yulia Stark, President of the European Women's Association.
Economy
Solar power costs in US decreased 80% since 2009: DOE
The US Department of Energy put forward the observation in the third edition of the Solar Power in Your Community...
- The price has dropped from a little less than $0.30 per unit in 2009 to around $0.04, according to a chart shared by the DOE
- Federal incentives have spurred dramatic increases in solar deployment, according to the new report
Science
EU overachieves 2020 renewable energy target
With more than half of gross final energy consumption from renewable sources, Sweden had by far the highest share among...
- With more than half of gross final energy consumption from renewable sources, Sweden had by far the highest share among the EU Member States in 2020
- The Member States that significantly exceeded their 2020 targets were Sweden, Croatia and Bulgaria
Economy
Kuwait, Saudi Arabia should develop trade, investment cooperation: KCCI
Chairman of Kuwait Chamber of Commerce and Industry (KCCI) Mohammad Al-Saqer called for more bilateral efforts to achieve the desired...
- Chairman of Kuwait Chamber of Commerce and Industry (KCCI) Mohammad Al-Saqer called for more bilateral efforts to achieve the desired economic goals
- On ongoing economic and political developments in the Kingdom, Al-Saqer noted that the Kingdom is an ideal example to follow
Business
GCC chief stresses importance of serving requirements of joint market
GCC Secretary-General Naif Falah Al-Hajraf with the chairman of the Board of Directors of the FGCCC, Samir Abdullah Nas.
- The GCC chief has stressed the importance of building a distinctive integrative trade and investment base
- The base is expected to complete the requirements of the GCC joint market and develop GCC inter-trade relations
Economy
Over 50,000 joined consult ahead of new constitution in Tunisia
The consultation will last until March 20 with topics including politics, economics, finance, social, health, education, and cultural affairs.
- Tunisia will intensify awareness campaign for national consultation so that more people can participate
- The electronic platform for the consultations was fully launched on Saturday after it partially opened on January 1
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GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...
Economy
Company News
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UAE plays an active role in shaping better future for societies, says minister
NEW DELHI, INDIA – The UAE is committed to playing an active role in global efforts to shape a better...
Geostrategy
Nations look to sign deep sea mining rules by 2025
The member nations of the International Seabed Authority (ISA) agreed on a two-year roadmap for the adoption of deep sea...
Economy
Morocco’s women football team to make history in World Cup debut
When Morocco's women take on two-times former champions Germany in Melbourne they will be the first Arab team to play...
Economy
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Economy
Saudi Arabia to host MENA Climate Week in October to ‘assess progress’
Riyadh, Saudi Arabia--Saudi Arabia will host the MENA Climate Week 2023 in Riyadh on October 8-12, in coordination with the...
- According to the ministry of energy, the event will examine the progress made in realizing the objectives outlined in the Paris Agreement
- It added the event will bring into focus the region's initiatives and approach to climate action and shed light on the impact of climate change
Economy
Gulf economies pivot towards China: Multi-billion dollar investments strengthen relations
Economic ties between China and the Gulf region's largest economies, Saudi Arabia and the UAE, have surged since President Xi...
- The value of Gulf companies' acquisitions and investments in China this year increased by more than 1,000 percent yearly to $5.3 billion
- Abu Dhabi's sovereign wealth fund, the "Mubadala Investment Company," is expanding its operations in China to attract investments
Economy
DEWA exhorts customers to take ‘measures’ in order to avoid fire
Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has called on the public to take all necessary measures to avoid the...
- Exhorting customers to use its smart services, DEWA asked them to visit its website and smart app in order to protect people and property
- It urged customers to use proper insulation in order to cover wires and be careful of exposed wires and damaged electrical parts