Saudi Arabia, UAE rank among top 20 nations globally for AI talent density
With the goal of becoming one of the world’s top 10 countries in AI research and application by 2030, Saudi...
Economy
US hits back at accounts Iran moved enriched uranium before bombing
Trump, seeking credit for ordering military action and then quickly announcing a ceasefire between Israel and Iran, has lashed out...
Geostrategy
Business
Al-Ittefaq plans an IPO
The $2bn worth Saudi steel giant will list on Tadawul.
- The value of the company is estimated at over $2 billion
- A deal with the financial adviser to manage the company’s initial public offering is expected soon
Geostrategy
US to dispatch US$756m humanitarian aid to Syria
Continuing with what it called "unwavering support for the Syrian people, US State Department said that will send $756 million...
- Blinken stressed the importance of an international agreement allowing the delivery of humanitarian aid across the border, calling it a "lifeline" for millions of Syrians
- In total, Washington says it has supplied about $15.7 billion in humanitarian aid for Syria since the war began 11 years ago
Business
A week of mixed fortunes for GCC equities
The UAE bourses ended the week high with help from foreign investors, but the Saudi equities took a tumble under...
- This week's trading sessions in the United Arab Emirates finished on a high note, with the Abu Dhabi market continuing its upward climb
- The financial markets in the United Arab Emirates had a net inflow of $6.45 million from international investors in both the Dubai and Abu Dhabi stock exchanges
Business
Ukraine rebuilding to cost US$350bn: report
It will cost some $350 billion to rebuild Ukraine from the devastation caused by the Russian invasion, according to a...
- The report estimates that $105 billion will be needed to address urgent needs such as restoring education and health systems and infrastructure
- Ukraine Prime Minister Denys Shmyhal said reconstruction already was underway in the de-occupied territories but will require help from international partners
Business
BinDawood CEO resigns
Ahmad BinDawood stepped down due to personal reasons.
- The company said it will announce any developments about the appointment of a replacement in due course
- BinDawood Holding Co. is a leading grocery retail operator of hypermarkets and supermarkets in the kingdom
Geostrategy
Tripoli residents ‘pick up the pieces’ after deadly clashes
Calm seemed to prevail over Tripoli for a second day Monday after the clashes -- the worst violence in the...
- Shops have now reopened, local authorities have started clearing the debris and technicians have mobilised to restore power in affected areas
- As Libyans struggle with chronic instability and unending political crises, some residents expressed surprise at the intensity of the clashes in civilian areas
Geostrategy
Qatar to invest $3bn in beleaguered Pakistan economy
The United Arab Emirates this month said it would invest $1 billion in Pakistan and, according to reports, Saudi Arabia...
- Qatari emir "stressed the importance of the brotherly and strategic relations between the two countries" and the need to bolster their economic partnership
- Assistance from Gulf nations and a $2.5 billion loan from China has helped Pakistan stave off the worst of an economic crisis that has seen annual inflation rise above 20 percent
Economy
Saudi Arabia’s new tourism law to build globally competitive tourism sector
With the new legal framework, the Ministry of Tourism will have greater control of the quality of tourism services offered...
- With the new legal framework, the Ministry of Tourism will have greater control of the quality of tourism services offered within the kingdom
- The law also extends the tourism ministry’s remit for swift collaboration with government entities to mitigate risks and manage crises.
Business
GCC and UK set sights on signing Free Trade Agreement
Dr. Nayef Al Hajraf, Secretary-General of the GCC, voiced hope that the talks would lead to an ambitious Free Trade...
- Dr. Nayef Al Hajraf, Secretary-General of the GCC, stressed the importance of the friendly relations between the GCC and the UK in serving the common interests of both sides
- The joint statement, signed with British Trade Secretary Anne-Marie Trevelyan on 22nd June, laid the groundwork for launching the negotiations today
Business
Souq Al Jubail dates festival registers sales of 38 tonnes
The festival, In its seventh edition since it opened last month, has witnessed a great turnout from UAE citizens, residents,...
- The festival, In its seventh edition since it opened last month, has witnessed a great turnout from UAE citizens, residents, and visitors
- Since the beginning of the festival in July 2022, different varieties of dates have been sold through ten sales platforms
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
Saudi Arabia, UAE rank among top 20 nations globally for AI talent density
With the goal of becoming one of the world’s top 10 countries in AI research and application by 2030, Saudi...
Economy
Company News
Latest News
WTO says trade alone won’t bridge gap between economies
The WTO's 2024 report on global trade looked at the role that commerce has played to narrow the gap between...
Geostrategy
First step for Europe’s hyperloop vehicles with test launch
Veendam, Netherlands -- The dream of hurtling between European cities at speeds of more than 700 kilometers per hour moved a...
Science
Iran’s president to visit Iraq on first foreign trip, sign MoU on security
Tehran, Iran -- Iran's President Masoud Pezeshkian will visit neighboring Iraq on Wednesday, state media reported Sunday, in what will be...
Geostrategy
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Economy
Global stock markets wobble as investors weigh US jobs data
Since US Federal Reserve Chairman Jerome Powell stated last month that the time for interest rates to begin coming down...
- Another big miss for August would have solidified perceptions that the US economy is slowing more sharply than initially thought.
- Government data showed Friday the world's biggest economy added 142,000 jobs last month, an increase from July's figure which was revised notably lower to 89,000.
Geostrategy
German foreign minister heads to Middle East in Gaza truce push
The talks will focus on "the dramatic situation in the region", and especially to discuss the issue of coordinating humanitarian...
- Pressure has mounted on Israeli Prime Minister Benjamin Netanyahu to agree to a deal to end the fighting
- Baerbock will set off Wednesday evening for Saudi Arabia where she will hold talks with Foreign Minister Faisal bin Farhan Al-Saud
Geostrategy
Biden, unions pile pressure on Netanyahu for hostage release deal
Jerusalem -- Pressure mounted Monday on Israeli Prime Minister Benjamin Netanyahu as a major strike was held and US President...
- A strike announced by the main trade union seeking a deal to secure the remaining captives' release had brought parts of the country to a standstill.
- Alongside the surging domestic anger, diplomatic pressure has also grown, with the US president on Monday delivering some of his strongest criticism of Netanyahu.