Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...
Business
Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...
Economy
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
Economy
Libya oil company chief appeals for state investment
The National Oil Corporation is trying "to maintain a level of production of 1.2 million barrels per day" but hopes...
- The National Oil Corporation is trying "to maintain a level of production of 1.2 million barrels per day" but hopes for state investment in order to boost output
- Libya sits on the largest known oil reserves in Africa, and is heavily dependent on revenues from its oil and gas exports
Business
Saudi, UAE and Egypt gaming to reach $3.14bn
A young population, increased user spending, robust govt backing for games and e-sports and new players are poised to push...
- Around half of the Middle East's population is reported to be under the age of 25, and electronic games constitute an integral component of their entertainment.
- Saudi Arabia, the UAE, and Egypt attained a total gaming revenue of US$1.76 billion in 2021.
Economy
Millionaires, non-profits make joint appeal for wealth tax
A wealth tax on the world's richest people could raise at least $2.52 trillion per year.
- The proposal comes from a network of NGOs, social movements, and pro-tax millionaires
- It follows separate reports showing that the world's wealthiest people have grown richer during the pandemic
Science
Covid-19 pandemic far from over: WHO
The WHO has warned that the sheer numbers of people infected will mean many people are still falling seriously ill...
- The WHO has cautioned against a misleading narrative that the fast-spreading Omicron variant is risk-free
- It stressed that existing vaccines do a good job of protecting against developing severe Covid-19 and deaths
Economy
OPEC expects robust oil demand in 2022 to overcome Omicron threat
Global demand for oil is expected to remain "robust" in 2022 and overcome short-term disruption caused by the Omicron coronavirus...
- The Saudi-led group of top oil producers warned future virus strains and pandemic-related travel restrictions could threaten the global economic recovery.
- European crude benchmark Brent North Sea reached $88.13 per barrel, while US contract WTI hit $85.74 -- the highest levels since October 2014.
Business
Bahrain private sector keen to strengthen trade ties with Saudi: BCCI chairman
BCCI chief reviewed ways to further increase the volume of bilateral trade
- Chairman Sameer bin Abdulla Nass appreciated the 'depth and solidity' of the Bahraini-Saudi economic and investment relations.
- Nass praised the role played by Saudi Arabia to enhance the progress and prosperity of the people of GCC.
Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...
Business
Company News
Latest News
Eurozone witnesses steepest downturn in eight months in July
The painful PMI data comes as the European Central Bank is eyeing a further rate hike this week in its...
Economy
Abu Dhabi Maritime signs MoU with ADNOC Distribution
It seeks to enhance emirate's coastal and marine locations.
Business
Jordan and Algeria look to ramp up trade, parliamentary ties
Amman, Jordan--Jordan and Algeria are looking to boost trade and parliamentary relations to further enhance bilateral ties between the two...
Economy
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Geostrategy
UAE president meets with Arab and EU leaders in Italy
The president met with a string of leaders from the Arab world and the European Union and discussed ways to...
- The UAE has announced a contribution of US$100 million to support developmental projects in countries affected by irregular migration
- The heads of the European Commission and the European Council, and the Tunisian president and Lebanese PM applauded the UAE for the aid
Economy
Tourism turns the Kingdom into a rising global star
In just few years, Saudi Arabia has leapt up the global rankings to become a leading destination for international tourists,...
Infographics
Strong growth key to GCC’s FDI appeal
Saudi Arabia has reentered into this year's Kearney FDI Confidence Index, which ranks the markets likely to attract the most...
- The optimism stems from strong economic growth, which is expected by IMF to reach 3.6% in 2023, higher than the global average of 3.3%.
- The GCC region is especially ripe for FDI, as the high demand for oil and gas is expected to continue to spur the growth of economies in the region.