AWS outage in Gulf raises reliability concerns as services remain disrupted over a week after strikes
Cloud services operated by Amazon Web Services (AWS) in the Gulf region continue to face disruptions more than a week...
Economy
MEA market decision-making cycle is fast but risk-averse: Ralph MelisÂ
The Middle East and Africa (MEA) markets are characterized by rapid growth, high owner influence, diverse operator models, and a...
Interview
Business
Dubai real estate market saw record transactions worth $142.1bn in 2024
Dubai, UAE -- Dubai’s real estate market recorded 180,900 transactions worth AED 522.1 ($142.1 billion) in 2024, a market report...
- The transaction volume surged by 51 percent to 119,800 in 2024, reflecting a substantial increase in buyer confidence and developer activity.
- There was also a steady appreciation in the average price per sq ft, which was up 10 percent to AED 1,600.
Geostrategy
Israeli forces killed 45,553 Palestinians since Oct 2023: Health ministry
Gaza, Palestinian Territories -- The Israeli forces have killed at least 45,553 Palestinian civilians and injured at least 108,379 others,...
- At least 108,379 other civilians, most of them children, have been injured and thousands remain under debris.
- The ministry said the Israeli forces committed two massacres against Palestinian families in the Gaza Strip over the past 24 hours.
Business
Kamco Invest launches two funds
Kamco's assets under management surpass SAR 1bn.
- The new Shariah-compliant funds are named Kamco Freestyle Saudi Equity Fund and Kamco SAR Murabaha Fund.
- The company said in a statement that the launch of the two funds brings the total number of public funds managed by Kamco Invest in the Kingdom to three.
Business
Saudi PIF’s assets up by $11.44bn by the end of third quarter 2024
Riyadh, Saudi Arabia – The value of assets under Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) assets—both...
- The number of subscribers recorded a 51 percent increase, representing nearly 528,000 subscribers, to reach 1,570,452 subscribers, compared to 1,042,484 at the end of Q3 2023.
- Foreign investment assets recorded an annual growth of 15.1Â percent, increasing by over SARÂ 3 billion to reach SARÂ 25.656 billion, which accounts for 16% of the total asset value.
Economy
Maysa Sabreen made first woman chief of Syrian central bank
Damascus, Syria -- Syrian authorities have appointed Maysa Sabreen as interim central bank governor, a bank official told AFP on Tuesday,...
- Sabreen, a Syrian banking expert, held the position of first deputy governor since 2018. She has also served on the central bank's management committee.
- Mohammed Issam Hazime, who headed the central bank before her, was appointed in 2021 under the rule of Bashar al-Assad.
Economy
Unemployment rate among Saudi nationals 7.8 percent in Q3
Riyadh, Saudi Arabia -- Unemployment rate among Saudi nationals reached 7.8 percent in the third quarter of 2024, a year-on-year...
- Data released by the General Authority for Statistics (GASTAT) said that the Saudi and non-Saudi labor force stood at 66.6Â percent, a 0.4 percentage point increase over Q2 of 2024.
- Saudi women's participation in the labor force, which increased by 0.8 percentage points, to 36.2Â percent and men's participation up by 1.1 percentage point.
Business
Key healthcare digital trends to watch in 2025
From AI-powered content creation to automated feedback systems, technology is streamlining operations and improving patient care.
- One of the most notable shifts is the growing ability to harness patient data responsibly for tailored marketing and engagement.
- Reputation management is taking center stage as well, with automated systems streamlining the collection of patient feedback and testimonials.
Economy
UAE real GDP grows by 3.6% in first half of 2024, says economy minister
Non-oil sectors' contribution to GDP reaches 75%. Economy minister Abdulla bin Touq Al Marri says the growth reflects the dynamic...
- The Minister said that the robust growth of non-oil sectors during the first half of 2024 reflects the dynamic nature of the UAE's economy.
- Transportation and storage activities led economic growth in the first half of 2024, with an impressive 8.4 percent growth rate.
Business
Cambridge study warns of perils in AI-driven ‘intention economy’
London, United Kingdom -- Conversational artificial intelligence (AI) tools may soon "covertly influence" users' decision making in a new commercial frontier...
- The marketplace emerging for "digital signals of intent" could, in the near future, influence everything from buying movie tickets to voting for political candidates.
- Our increasing familiarity with chatbots, digital tutors and other so-called "anthropomorphic" AI agents is helping enable this new array of "persuasive technologies".
Geostrategy
20-day-old baby Jumaa al-Batran dies from ‘severe cold’ in Gaza
Marwan al-Hamas, head of field hospitals in Gaza, confirmed the death. He said it brought to five the total number...
- Jumaa's twin brother remains in the intensive care unit at a local hospital, the health ministry in territory said.
- "There is no electricity. The water is cold and there is no gas, heating or food," said Yahya al-Batran, the father of the child.
AWS outage in Gulf raises reliability concerns as services remain disrupted over a week after strikes
Cloud services operated by Amazon Web Services (AWS) in the Gulf region continue to face disruptions more than a week...
Economy
Company News
SIB’s 2024 profit $272m
Business
Latest News
PIF acquires stake in Saudi Re
Business
Global economy set to face significant challenges in 2025: WEF survey
Geneva, Switzerland – The global economy is set to face significant challenges in 2025, with 56 percent of chief economists...
Economy
Fifth Aramco facility receives WEF Global Lighthouse Network tag
Dhahran, Saudi Arabia -- Aramco's North Ghawar Oil Producing Complex has become the company's fifth facility to be added to...
Business
Most Read
Business
Non-institutional foreign ownership in Tadawul-listed firms up slightly
Riyadh, Saudi Arabia -- Non-institutional foreign investors increased their stake in Tadawul-listed equities, excluding Saudi Aramco, from 9.70 percent to...
- The ownership increased from 9.70 percent to 9.72 percent, equivalent to SAR 334.55 billion, during the week ending January 9.
- GCC investors’ ownership in Saudi equities, excluding Saudi Aramco, declined from 2.27 percent to 2.18 percent of the total market capitalization.
Geostrategy
Cyber landscape complexity deepens cyber inequity, gap between organizations: WEF report
The complexity arises from the rapid growth of emerging technologies, prevailing geopolitical uncertainty and the evolution of threats, says WEF's...
- The complexity arises from the rapid growth of emerging technologies, prevailing geopolitical uncertainty and the evolution of threats.
- It also arises from regulatory challenges, vulnerabilities in supply chain interdependencies and the growing cyber skills gap, the report said.
Economy
World economic growth to remain at 2.8 percent in 2025: UN report
The World Economic Situation and Prospects (WESP) 2025 report shows that despite withstanding a series of mutually reinforcing shocks, global...
- It said that positive but somewhat slower growth forecasts for China and the United States will be complemented by modest recoveries in the European Union, Japan, and Britain.
- US growth was expected to moderate from 2.8 percent last year to 1.9 percent in 2025 as the labor market softens and consumer spending slows.