Over 105m people visit Dubai Mall in 2023
DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...
Business
Saudi Arabia takes the lead in global road connectivity rankings: minister
Riyadh, Saudi Arabia - Saudi Arabia has earned the distinction of being the world's most connected country in terms of...
Economy
Economy
Saudi Arabia’s overall merchandise exports rise by 90 percent in Oct. 2021
Saudi Arabia’s overall merchandise exports increased by 90 percent in October 2021 compared to October 2020, when international trade was...
- The value of exports amounted to SAR106.2 billion ($28.2 billion) in October 2021, up from SAR55.9 billion in October 2020.
- The share of oil exports in total exports increased from 66.1 percent in October 2020 to 77.6 percent in October 2021.
Videos
Which are priority sectors in 2022 Saudi budget?
With the worst of the repercussions of Covid-19 expected to be in the rearview mirror, there are some specific sectors...
- Saudi Arabia has since 2016 started a wide-ranging program to diversify its economy to end its dependence on oil
- For example, it has seen investment to the tune of $1 trillion in the infrastructure and real-estate front alone
Economy
Climate crisis puts oil in the crosshairs, but dependence persists
The International Energy Agency warned in May that an immediate halt to new investment in fossil projects is needed if...
- Fossil fuels, represent 80 percent of energy consumed, and were explicitly blamed for driving climate change at COP26
- This was not the case when the Paris climate pact was reached in 2015
Economy
Qatar gave $45m in zakat to eligible families in November
Those wishing to request assistance from the fund can visit its website, and view, fill, and upload the required documents.
- The aid included both periodic and lump-sum amount, and disbursed by the fund's management to the eligible families
- Zakat performers can pay their zakat via the Zakat Fund website , offices, and collection points
Business
UAE, Morocco discuss cooperation in investment and economy
The two sides talked about Expo 2020 Dubai and the importance of the Arab countries' participation therein.
- The discussion took place in a meeting between UAE Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan and Morocco Prime Minister Aziz Akhannouch
- They are also said to have reviewed the latest developments in the Arab region and exchanged views over a number of regional and international issues of common interest
Market Report
Gulf stocks rebound after selloff
The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020.
- The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020
- Saudi index gained 0.6 percent on Thursday backed by a 0.9 percent rise in Al-Rajhi Bank
Economy
Iraq owes no more than $5bn to World Bank and IMF: Official
The economy of Iraq depends upon oil as it constitutes 45 percent of the GDP and affects about 80 percent...
- The World Bank loans in particular are long-term and have grace periods of about six years, extending up to 14 years
- The World Bank Loans are 'similar to the interest of the London markets on dollar lending transactions'
Economy
UNRWA calls for long-term funds to help refugees in Palestine
UNRWA Commissioner-General Philippe Lazzarini has acknowledged that stagnating donor funding for close to a decade remained below the amount needed...
- As of now, more than 5 million Palestinians have registered with UNRWA as refugees
- They are spread across the West Bank, including East Jerusalem, the Gaza Strip, Lebanon, Syria, and Jordan
Economy
Omicron surge pushes Morocco to extend flight ban
The restrictions have dealt a punishing blow to the North African country's vital tourism sector.
- Morocco imposed the measure to run initially from late November until December 31
- This, despite a mechanism being in place for Moroccan citizens stranded abroad to come home
Economy
Jordan forms committee to modernise public sector
The committee will be chaired by the Prime Minister and number of ministers, specialized officials, experts who have experience and...
- The committee will be chaired by the Prime Minister and number of ministers, specialized officials, experts who have experience and expertise in public administration
- The Prime Minister said that modernising the public sector has become a necessity as a major lever for economic reform related to modernising the political system
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Over 105m people visit Dubai Mall in 2023
DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...
Business
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Business
UAE ranks first in Arab region and 29th globally in UN Industrial Performance Index
Abu Dhabi, UAE - The United Arab Emirates (UAE) has secured the top spot in the Arab region and risen...
Economy
Saudi Arabia: An emerging tourism hub
The Kingdom is harnessing the potential of tourism for economic growth, job creation, and cultural exchange. In 2022, Saudi Arabia...
Economy
Most Read
Geostrategy
Saudi Arabia, Japan issue joint statement on Lighthouse Initiative for Clean Energy Cooperation
RIYADH, SAUDI ARABIA – Saudi Arabia and Japan issued a joint statement on Lighthouse Initiative for Clean Energy Cooperation. The...
- Recognizing net-zero and clean energy ambitions, both sides decided to establish the KSA-Japan Lighthouse Initiative for Clean Energy Cooperation.
- The initiative will serve as a beacon for other countries and regions as they develop their strategies and roadmaps toward their net zero ambitions.
Business
Dubai posts 44 percent growth in business event bid wins in H1 2023
DUBAI, UAE – The city has registered a strong year-on-year growth of 44 percent in business event bid wins in...
- Dubai Business Events worked with partners and stakeholders to win 143 conferences, congresses, meetings and incentives in H1 2023.
- These events are expected to bring over 94,000 additional visitors to the city, including global experts and leaders in their respective fields.
Business
DSCE gets ISO 50001, net-zero certifications for sustainable energy management
DUBAI, UAE - The Dubai Supreme Council of Energy (DSCE) has received the ISO 50001:2018 in energy management systems and...
- This followed a comprehensive assessment conducted by W3 Solutionz - USA through CanaGulf International Standardization.
- The audit process conducted by CanaGulf International Standardization was based on several guiding principles.