WTO convenes ministers in UAE with slim hopes for breakthrough
The World Trade Organization's 13th ministerial conference (MC13), scheduled to run until Thursday in Abu Dhabi, the capital of the...
Economy
Saudi Arabia announces major gas discovery in Jafurah
Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion...
Economy
Research
R&D in Arab world: Challenges and successes
Raging political crises across the region have negatively impacted the economies of several countries. Consequently, spending on research has barely...
- Jordan's ratio of researchers to its citizens was 150 percent of that of its closest competitors.
- Saudi Arabia spared the highest--$12.5 billion--funds for research and development in the Middle East and Africa Region,
Business
Hyperloop to become a reality in years, not decades: CEO DP World
Hyperloop, which is expected to transport passengers and freight at a speed of an airplane, could become a reality before...
- Sultan Ahmed bin Sulayem said India and Saudi Arabia might roll out the transport system first.
- DP World has invested in Virgin Hyperloop, which tested human travel in a hyperloop pod for the first time in 2020.
Economy
S&P revises Oman’s credit rating to positive on the back of fiscal improvement
S&P has revised up Oman’s credit outlook to positive from stable on the expectation that the sultanate’s reform program will...
- Long-term foreign currency credit rating was affirmed at B+
- S&P said it could raise its ratings on Oman over the next 12 months if planned fiscal reforms and stronger economic growth sustainably reduce fiscal imbalances
Economy
Saudi Arabia to have budget surpluses from 2023: Ministry of Finance
Saudi Arabia is confident that it will have budget surpluses from 2023 with the kingdom’s economy showing a “noticeable and...
- Saudi Arabia will post a surplus of about $7.2bln in 2023, rising to $11bln in 2024, the ministry said
- Government revenue will slip to SR903 billion in 2022 from SR930 billion in 2021, but will have reached SR992 billion by 2024
Economy
Kuwaiti women play big role in development: Diplomat
Fahad Hejji, the First Secretary of the Permanent Mission of the State of Kuwait to the United Nations, has said...
- Kuwait has spared no effort to empower women and ensure their rights
- It also ensures their effective participation in all aspects of daily life, and enables them to assume leading state posts
Science
Saudi Arabia announces vaccine mandate for public
Saudi authorities will require people to have double immunization starting at 6 am on October 10 if they are to...
- Saudi residents will need double immunization to enter any economic, commercial, cultural, recreational, sports, or tourism activity
- They will also require it to enter any cultural, scientific, social, or recreational event
Economy
UN agency for Palestinian refugees needs $800m
UNRWA Commissioner-General Philippe Lazzarini told reporters at the UN headquarters in New York that the organization needed "predictability" for its...
- UNRWA Commissioner-General Philippe Lazzarini told reporters at the UN headquarters in New York that the organization needed "predictability" for its operations
- The funding would allow the agency to keep open the 700 or so schools it managed, catering to 550,000 children
Market Report
OPEC’s crude oil reserves up 0.3% to 1,237 bn barrels in 2020
World’s proven crude oil reserves stood at 1,549 billion barrels in 2020, increasing by 0.2 percent from the level of...
- World’s proven natural gas reserves fell by 0.4 percent to 206.7 trillion standard cu m in 2020
- OPEC natural gas reserves stood at 73.74 tr standard cu m in 2020, down 1.4 percent from 2019
Arts & Culture
E-Sports a billion-dollar industry in GCC
The Middle East has 25% of the worldwide gaming audience, followed by Latin America 13.9%, the Asia Pacific 9.2%, Western...
- The Middle East has 25% of the worldwide gaming audience, followed by Latin America 13.9%, the Asia Pacific 9.2%, Western Europe 4.8%, and North America 4%
- The value of gaming in the MENA is estimated to be US$4.5 billion with over 100 million gamers in the region
Expo 2020 DUBAI
Dubai Expo ‘new city’ is here to stay for decades
Dubai has created a "new city" for Expo 2020 that will exist for decades, the head of the event said,...
- The $7bn purpose-built showground occupies a vast site on Dubai's outskirts with hundreds of pavilions
- Expo 2020, which has sustainability as one of its main themes, wraps up in March
Most Read
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
WTO convenes ministers in UAE with slim hopes for breakthrough
The World Trade Organization's 13th ministerial conference (MC13), scheduled to run until Thursday in Abu Dhabi, the capital of the...
Economy
Company News
Glaxo buys Bellus for US$2bn
Business
Ericsson Q1 net profit at $155m
Business
Latest News
Iraq exports crude oil worth over US$7bn in June 2023
BAGHDAD, IRAQ - Total crude oil exports in June reached over 100 million barrels, the Iraqi government said in a...
Business
Saudi Arabia to compete for 17-title categories at 15th Arab Games
Riyadh, Saudi Arabia--Saudi Arabia will take part in the 15th Arab Games, "Algeria 2023," which is set to commence next...
Economy
Iran makes US$54 billion in revenue from export of oil in 2022
Tehran, Iran-- Iran has earned revenue to the tune of $54 billion last year from the export of oil, according...
Business
Most Read
Business
DFM adds new investor accounts
The brokerage firms added 26,953 new accounts in H1.
- The new investor accounts at the bourse climbed more than 48 percent during the first five months of this year as against 18,204 last year
- Since the listing of companies such as DEWA, TECOM Group and many others, the market has witnessed significant momentum
Economy
51% techies satisfied with their pay in Middle East
Middle Eastern technology professionals are more open to office-based roles than their counterparts in Central Eastern Europe, Southern Europe, and...
- Middle Eastern tech professionals are more open to office-based roles than their counterparts in Central Eastern Europe, Southern Europe, and France and Benelux, says a report
- Career development remains a top priority for Middle East tech professionals, with 51% ranking it in their top three considerations for a new role, adds the latest report by Hays
Business
Jordan medical, pharmaceutical exports see 30% growth in first 5 months of 2023
AMMAN, JORDAN - The pharmaceutical and medical supplies sector of Jordan has experienced an impressive 29.7 percent growth in exports...
- Jordan's exports from the pharmaceutical, medical supplies sector for the first five months of 2023 reached approximately US$375 million.
- The growth has been possible due to regularization, recovery of supply chains, and uninterrupted supply of raw materials and production inputs.