Macron to hold talks with Crown Prince Salman on Saudi visit
Macron is beginning the first state visit by a French president to Saudi Arabia since Jacques Chirac in 2006, cementing...
Geostrategy
Turkish-backed jihadists breach Aleppo, displacing thousands and cutting vital highway to Damascus
By Friday, the jihadists and their allies had taken more than 50 towns and villages in the north and entered...
Business
Saudi real estate to contribute 9% to GDP by 2030
The Saudi real estate sector will contribute close to nine percent to the national gross domestic product by 2030, according...
- The kingdom's residential real estate finance is expected to exceed 1.2 million contracts with a value of SR600 billion ($162 billion) by 2030
- Real estate witnessed growth in land and property registration by 85 percent in 2021
Opinion
Measuring the impact of investment on ESG factors
With more ESG marketing claims questioned by clients, asset and wealth management firms can no longer tout ESG without convincing...
- As investors get more sophisticated about ESG matters, they are questioning the claims of commitment to sustainably invested assets and ostensibly sustainable products
- The solution to this strategic challenge lies in prioritizing ESG factors for specific target clients and building a model that reliably quantifies the impact on those factors
Business
Uber reports $892 mn Q4 profit
The San Francisco-based company notched increases across its operations, including its signature ride service, food delivery and freight operations.
- The San Francisco-based company notched increases across its operations, including its signature ride service, food delivery and freight operations
- Uber also had gains in monthly active platform consumers, gross bookings and trips compared with the year-ago level.
Business
AD Ports raises $1bn in share sale a day before it lists on ADX
Abu Dhabi Ports Group has raised $1.1 billion from a share sale a day before it is to list on...
- The company offered 1.25 billion shares at 3.20 dirhams ($0.87) each, people familiar with the matter said last month
- ADQ, whose assets are estimated at $110 billion by sovereign fund tracker Global SWF, ranks as the UAE's third-biggest sovereign wealth fund
Geostrategy
Coups, Covid-19 repercussions cloud African Union summit
The two-day summit should discuss how to be more proactive in addressing factors that give rise to coups, including terrorism-related...
- The summit comes as the 55-member bloc faces pressure to push for a ceasefire in host country Ethiopia
- A 15-month war there has killed thousands of people and driven hundreds of thousands to the brink of starvation
Business
GACA signs MoU with Huawei in smart flight technology
GACA is keen to activate the comprehensive digital transformation project in the use of modern technologies in various fields of...
- The memorandum was signed on the sidelines of the activities of the Global Tech Conference, LEAP, which concluded on Friday in Riyadh
- The cooperation includes providing, evaluating and selecting smart aviation solutions, the possibility of participating in passenger services projects, operating airports etc
Wildlife revives in ‘dead zone’ of Cyprus
The abandoned village of Cyprus became a "haven" for rare plants and animals as well as a "wildlife corridor" that...
- The abandoned village of Cyprus became a "haven" for rare plants and animals as well as a "wildlife corridor" that links otherwise fragmented environments right across the island
- Cyprus has been split since 1974 when Turkish forces occupied the northern part of the island in response to a Greek-sponsored military coup
Business
Saudi Arabia receives investment of $2bn in cloud computing
In the last two years, Saudi Arabia has attracted more than $2 billion in investments in cloud computing according to...
- Saudi Arabia has implemented several initiatives to attract more foreign investments and encourage non Saudi companies including startups to invest in the Kingdom
- Many international companies announced plans to move their headquarters to Riyadh for investment opportunities
Arts & Culture
Byzantine church comes back to life in Gaza
The remains of a fifth century Byzantine church were unveiled in Gaza on Monday following a three-year restoration project, with...
- The remains of a church and monastery were first discovered in Jabalia, a city in northern Gaza, in 1997 over an area spanning roughly 800 square meters
- The church floor is adorned with what Hamas officials described as "rare" mosaics, including depictions of animals, hunting scenes and palm trees
Business
Istanbul airport closes down as snowstorm hits region
Europe's busiest airport shut down in Istanbul while schools and vaccination centers closed in Athens as a rare snowstorm blanketed...
- The closure of Istanbul Airport affected flights stretching from the Middle East and Africa to Europe and Asia
- it dealt a major headache for the 16 million residents of Turkey's largest city, which ground to an effective halt
Macron to hold talks with Crown Prince Salman on Saudi visit
Macron is beginning the first state visit by a French president to Saudi Arabia since Jacques Chirac in 2006, cementing...
Geostrategy
Company News
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Blinken says Israel needs post-war plan ‘as quickly as possible’
"In the absence of a plan for the day after, there won't be a day after. And this is where...
Geostrategy
New mega-refinery helps Kuwait to record capacity: minister
Made up of three component units, the huge Al-Zour refinery is one of the biggest in the Middle East. It was...
Business
Palestinians flee Rafah as Israeli expands ground assault
Rafah, Palestinian Territories -- Hundreds braved roads in Rafah in south Gaza Tuesday as they fled Israel's expanding ground assault, with...
Geostrategy
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Business
Saudi PIF launches Neo Space Group to boost space industry
Riyadh, Saudi Arabia -- Saudi Arabia's Public Investment Fund (PIF)on Monday launched the Neo Space Group to work on the kingdom's...
- The Neo Space Group or NSG is the "PIF's first investment focused on the space industry", the sovereign wealth fund said in a statement.
- It "aims to develop and enhance commercial space operations in Saudi Arabia, providing innovative satellite and space solutions locally and globally", the PIF said.
Business
UAE tax authority issues corporate tax guide for free-zone persons
Abu Dhabi, UAE -- The Federal Tax Authority (FTA) has issued a guide outlining the application of Corporate Tax to...
- It is in line with the Free Zone Corporate Tax regime, which enables Qualifying Free Zone Persons to benefit from a zero percent Corporate Tax rate on Qualifying Income.
- The guide includes many examples to assist Businesses with understanding how the key elements of the Corporate Tax Law apply to Free Zone Persons.
Geostrategy
EU hosts talks to strengthen Palestinian Authority for Gaza
A "strong" Palestinian Authority is needed to bring peace in the Middle East, EU foreign policy chief Josep Borrell said...
- They also came just before Norway -- which was hosting the Brussels meeting -- was on Tuesday is to recognize the State of Palestine, along with Spain and Ireland.
- Mustafa said Sunday's meeting was "a very important opportunity" for the Palestinian Authority to outline its priorities and plans.