Mawani completes Red Sea Gateway Terminal at Jeddah Islamic Port
Riyadh, Saudi Arabia - The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah...
Business
GCC economies eye $2.5trn from better productivity
The region pins hope on the new Productivity Potential Index that offers a forward-looking framework, incorporating environmental, health, and innovation...
Economy
Business
PIF ups Activision Blizzard holding in second quarter
The sovereign wealth fund is at the center of the kingdom's plans to transform the economy by creating new sectors...
- During Q4 2020, PIF acquired 14.9 million shares of US video-game maker Activision.
- Its other purchases last year included 7.4 million Electronic Arts shares and 3.9 million Take-Two shares worth about $1.1 billion and $826 million.
Economy
Bahrain eServices revenue up 257% to $532m in H1
The number of financial transactions in H1 2021 exceeded 1.6 million, double the number in the same period last year.
- More than 1.1 million financial transactions were carried out on the national portal alone
- This an increase of 76 percent compared to the same period of last year
Economy
Firefighters battle second day of blazes near Jerusalem
Police and local officials "began evacuating hundreds of families" from communities on the western outskirts of Jerusalem
- Police and local officials "began evacuating hundreds of families" from communities on the western outskirts of Jerusalem
- Fires have flared this summer around the Mediterranean basin, including in Greece, Turkey, Algeria and Morocco
Geostrategy
UAE, Iraq moot bilateral business council
Iraq and the UAE already conduct trade that was worth around $15 billion in 2019.
- Abu Dhabi Chamber Chairman Abdullah Mohammed Al Mazrouei and Iraqi Ambassador discussed the setting up of this council
- Abu Dhabi Chamber Director-General Mohamed Helal Al Mheiri also attended the meeting
Economy
Crisis-hit Lebanon reels from latest deadly explosion
At least 28 people were killed when the fuel tank blew up
- At least 28 people were killed when the fuel tank blew up
- The Lebanon grapples with an economic crisis described by the World Bank as one of the world's worst since the 1850s
Economy
Death toll in Haiti quake jumps to over 1200
In hard-hit cities on the southwestern peninsula most of the population spent the night sleeping outdoors in front of their...
- In hard-hit cities on the southwestern peninsula most of the population spent the night sleeping outdoors in front of their houses
- Rescuers faced new pressure with Tropical Depression Grace approaching, raising fears of torrential rainfall
Research
UAE on way to become cashless economy by 2025
According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the...
- According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the world’s average of 43 ATMs
- The central bank digital currency (CBDC) could be launched in the UAE and Saudi Arabia in the next two to five years
Economy
UAE on way to become cashless economy by 2025
According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the...
- According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the world’s average of 43 ATMs
- The central bank digital currency (CBDC) could be launched in the UAE and Saudi Arabia in the next two to five years
Business
Dubai property transactions up 50 percent in Q2: Report
Increased international interest has been a key factor in driving residential transactions to near-record levels. Dubai’s handling of Covid-19 pandemic...
- Residential transaction volume totaled 14,426 units, a rise of 35.48 percent from Q1 2021.
- Palm Jumeirah saw the highest increase in villa rents, at 3.9 percent Q-o-Q.
Investigation
GCC seeks to tap green hydrogen demand
The GCC countries see hydrogen as a key factor in fuel transition and have drawn up plans to export green...
- UAE first in GCC to reduce emissions by 24 percent by 2030 and to 50 percent by 2050
- GCC countries have plenty of space, sunshine wind energy in some areas
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
Mawani completes Red Sea Gateway Terminal at Jeddah Islamic Port
Riyadh, Saudi Arabia - The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah...
Business
Company News
Latest News
US supports China’s bid to advance Middle East peace
Saudi-Iran peace deal will reduce tensions in the region and would solve some of the problems if not all, says...
Interview
Oman’s economic growth to reach 2.7 percent in 2024, says IMF
MUSCAT, OMAN - Oman’s economic growth is expected to rebound to 2.7 percent in 2024 but will slip in 2023...
Economy
India’s IndiGo places record order for 500 Airbus A320
Indian carrier IndiGo said it had ordered a 500 A320 airliners from European manufacturer Airbus at the Paris Air Show....
Business
Most Read
Economy
UAE, ILO ink agreement to enhance labor inspection capabilities
GENEVA, SWITZERLAND - The UAE has signed a cooperation agreement with the International Labor Organization (ILO) to collaborate in labor...
- The agreement, signed by UAE's Ministry of Human Resources and Emiratization, aims to develop the skills and capabilities of inspectors at the ministry.
- The pact enables the ministry's officials to carry out inspections proactively and enhance their capacities in line with the best international practices.
Economy
Iran-EAEU free trade zone agreement can be signed by year’s end: Russian deputy PM
Tehran, Iran-- A free trade zone agreement between Iran and the Eurasian Economic Union (EAEU) will be signed before the...
- According to the deputy prime minister, Russia was in talks with "friendly" countries like Egypt, India, Indonesia, and the UAE as they are growing markets
- He said negotiations for an agreement like this were complex and that the negotiators have to take into account a lot of different interest of member states
Business
Saudi Arabia unveils AROYA Cruises to boost tourism industry
Riyadh, Saudi Arabia-- Saudi Arabia has unveiled its own cruise-line brand called AROYA Cruises to fuel growth in its tourism...
- Saudi Arabia is looking to become a global tourist destination by the end of the decade in line with its goals outlined in Vision 2030
- The Saudi tourism department is aiming to attract 1.3 million cruise visitors by 2035 and providing some 50,000 direct and indiret jobs