Energy transition led Saudi Arabia to halt oil expansion, says official
RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to...
Business
In Middle East, ‘manufacturing’ is a new buzzword
Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But...
Economy
Saudi Arabia invites EoIs for Juranah water reservoir project
Saudi Water Partnership Company has invited expressions of interest for the Juranah independent strategic water reservoir
Oman floats tender for new container terminal at Duqm port
Oman has launched the tendering process to choose a partner to build a container terminal at the Port of Duqm
Kuwait working on law to tap a $700-bn fund to help balance budget
Kuwait Investment Authority, which manages the fund, expects the fund's durability will not be affected by withdrawals
Dubai’s most expensive villa rental signed for $1.06 million
Dubai likely saw its most expensive villa rental deal, with a villa on Palm Jumeirah being rented annually for AED...
Expo 2020: Tickets on sale, 50 winners of a lucky draw to attend the opening ceremony
UAE residents above 18 who purchase Season Pass or Family Package before Aug. 15 eligible for entry into the raffle
UAE at Tashkent conference: infrastructure key driver for investment
UAE energy and infrastructure minister Suhail bin Mohammed Al Mazrouei praises Uzbekistan for attracting investment and developing the country's infrastructure
Bahrain to spend $324 million to build over 1,300 flats in Salman City
Bahrain plans to build a total of 1,382 flats on Island 12 of Salman City at a cost of BD123...
French judges weigh money-laundering charges against Lebanon’s central bank chief
French anti-corruption judges are probing money-laundering charges against Lebanon's central bank chief Riad Salameh
Economy in focus as Assad retains Syria’s presidency for fourth term
President Bashar al-Assad vows to focus on economy after taking the oath of office for a fourth term in Syria...
Bahrain to tap debt market to tide over financial crunch
The last time the Bahraini Kingdom tapped the international debt market was in January, when it raised $2 billion
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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
Energy transition led Saudi Arabia to halt oil expansion, says official
RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to...
Business
Company News
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Sudan war death toll surges past 2,000 as fighting enters third month
Since April 15, the regular army headed by Abdel Fattah al-Burhan has been locked in fighting with paramilitary Rapid Support...
Xi Jinping meets with ‘old friend’ Bill Gates in Beijing
Gates -- one of the world's richest men -- is the latest in a string of Western business leaders to...
Phase out fossil fuels to avoid climate catastrophe
Limiting global temperature rise to 1.5 degrees Celsius is still possible but will require a 45 per cent reduction in...
Economy
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Business
Siemens to expand business
BERLIN, GERMANY - German industrial giant Siemens said on Thursday it would build a new high-tech factory in Singapore and expand...
- Details on further investments in Europe and the United States across the globe are expected to follow, said Siemens.
- The group's announcement came after the German government published its first National Security Strategy that took aim at China for acting against Berlin's interests.
Economy
Sri Lankan economy contracts 11.5 percent in Q1 2023
COLOMBO, SRI LANKA - Crisis-hit Sri Lanka's economy shrank by 11.5 percent in the first quarter just before an IMF bailout...
- The contraction in the first three months compared with shrinkage of 0.5 percent in the corresponding period of 2022.
- A currency crisis from late 2021 led to severe shortages of food, fuel and medicines and triggered months of protests.
Business
Audi Middle East achieves 33% sales growth in first 5 months of 2023
DUBAI, UAE : In the first five months of 2023, Audi Middle East achieved a 33 percent growth compared to...
- This success is bolstered by Audi's strategic partnerships and investments in electric vehicle infrastructure across the Middle East.
- Audi's EV portfolio now features an extensive range of models, spanning sports cars, sedans, hatchbacks, and the SUVs.