105 missiles, 176 drones destroyed since start of Iranian attack: Bahrain
The Bahrain Defence Force General Command (BDF) announced that its air defence systems have continued to successfully intercept successive waves...
Geostrategy
Opinion
The $480 billion creator economy revolution
We're likely to see more creators seeking alternatives to traditional gatekeepers, following in the footsteps of artists like Taylor Swift....
- Influencers are becoming increasingly important in shaping consumer behavior: Nearly 72% of young Americans follow digital creators.
- According to Chamath Palihapitiya, influencers are pioneering a non-mechanistic method of demand generation that could surpass traditional advertising.
Business
Qatar’s real estate department records weeklong deals worth $71 million
Doha, Qatar -- Real estate sales contracts worth 251.25 million qatari riyals were registered with the emirate's Real Estate Registration...
- During the Dec 29-Jan 2 period, the total sales contracts for the real estate bulletin for residential units reached QR 10.57 million.
- The properties traded for sale included vacant lands, residential homes, apartment buildings, shops, residential complex, and residential units.
Business
Saudi Industrial Production Index increases by 3.4 percent in Nov 2024
Riyadh, Saudi Arabia -- Saudi Arabia's Industrial Production Index (IPI) increased by 3.4 percent in November 2024, compared to Nov...
- This increase is driven by growth in mining and quarrying, manufacturing, water supply, sewerage, and waste management and remediation activities.
- The sub-index of mining and quarrying activity increased by 1.2 percent, and the sub-index of manufacturing activity increased by 7.2 percent.
Business
Saudi Arabia retains first rank in MENA Venture Capital funding in 2024
Riyadh, Saudi Arabia -- Saudi Arabia maintained its first rank across MENA in terms of Venture Capital (VC) funding in...
- The Kingdom secured the highest, 40 percent, share of total VC funding in the MENA region in 2024.
- The report also revealed that Saudi Arabia set a new record with 178 VC deals in the same year.
Business
ADNOC L&S buys stake in Navig8
The company will acquire the remaining stake in mid-2027.
- Navig8 is an international shipping pool operator and commercial management company with a modern-owned fleet of 32 tankers and a presence in 15 cities across five continents.
- This value-accretive acquisition is expected to boost ADNOC L&S’ earnings per share by at least 20 percent in 2025 compared to 2024.
Business
DAE to acquire Nordic Aviation Capital
The terms of the transaction have not been disclosed.
- As of September 2024, NAC’s fleet comprised of 252 owned and committed assets on lease to approximately 60 airline customers in approximately 40 countries.
- On a pro forma basis, DAE Capital’s fleet will comprise of approximately 750 owned, managed and committed aircraft.
Business
PIF completes $7 billion inaugural murabaha credit facility
Riyadh, Saudi Arabia -- Saudi Arabia's Public Investment Fund (PIF) on Monday announced its first murabaha credit facility for the...
- The financing structure is supported by a diverse syndicate of 20 international and regional financial institutions, PIF said in a statement.
- PIF has four main sources of funding: capital injections from government, government asset transfers, retained earnings from investments, and loans and debt instruments.
Business
UAE aviation sector’s 2024 milestone: 1 million air traffic movements
Abu Dhabi, UAE -- The United Arab Emirates (UAE) achieved a milestone in the aviation industry as it surpassed 1...
- On 22nd December 2024, the one-millionth annual air traffic movement was recorded with the arrival of Emirates Flight305 from Shanghai.
- UAE recorded over 20 percent growth in air traffic over the past two years, among the highest globally.
Business
Saudi PMI falls to 58.4 in Dec as non-oil private sector improves
Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
- The index has remained above the neutral level (50.0 points) since September 2020.
- Business conditions experienced a marked improvement, propelled by a substantial surge in new orders.
Business
Desert truffles: Saudi Arabia’s buried treasure
The 10-day Qassim Truffle Festival, currently in its fourth year, features 18 booths showcasing truffles, a dedicated auction area and...
- Fertile soil, untouched land, access to fresh water, a suitable climate, and the presence of the Helianthemum plant contribute to growth of desert truffles.
- The Qassim Truffle Festival, currently in its fourth year, is a testament to the region's truffle production.
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
105 missiles, 176 drones destroyed since start of Iranian attack: Bahrain
The Bahrain Defence Force General Command (BDF) announced that its air defence systems have continued to successfully intercept successive waves...
Geostrategy
Company News
Latest News
Gold hits record high, dollar falls as US targets Fed
Fed Chair Jerome Powell confirmed the "unprecedented" subpoenas against the bank in a rare video address on Sunday, which he...
Business
GCC capital market reforms spawn IPO, foreign investment wave
For a region long shaped by sovereign balance sheets and state-owned champions, the Gulf is quietly rewiring its financial plumbing,...
Business
Trump tells Cuba to ‘make a deal, before it is too late’
The communist-run island near Florida has been a US foe and ally of Caracas for decades, but Trump has ramped...
Geostrategy
Most Read
Arts & Culture
Novel concept: China’s spellbinding bookstores draw selfie snappers
Tianjin, China -- Towering accordion steps and a fantastical spiral staircase greet visitors to a massive bookstore in northern China's...
- Sales of hard-copy books across the country have failed to bounce back to pre-pandemic levels, data shows, despite authorities' efforts to boost domestic consumption.
- Yet in recent years the number of physical bookshops has "maintained steady growth", the head of a publishing industry group said last January.
Geostrategy
Yemen presidential council says Saudi coalition to lead all southern forces
The announcement comes a few days after Yemeni forces supported by Saudi Arabia recaptured large swathes of territory from the...
- The oil-rich neighbors formed the backbone of the coalition fighting Iran-backed Houthi rebels in Yemen, who overran the capital Sanaa in 2014 and still control much of the country
- But Riyadh and Abu Dhabi now find themselves backing competing factions within the Presidential Council, which is recognized by the international community.
Business
AI toys look for bright side after troubled start
Las Vegas, United States -- Toy makers at the Consumer Electronics Show were adamant about being careful to ensure that...
- The rapid advancement of generative AI since ChatGPT's arrival has paved the way for a new generation of smart toys.
- Among the four devices tested by PIRG was Curio's Grok, a four-legged stuffed toy inspired by a rocket that has been on the market since 2024.