China launches late stimulus push to meet 2024 growth target
China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch...Economy
Economy – the biggest loser in the Israeli-Arab war
The sheer scale of destruction from the deadliest war in Gaza's history has made the road to recovery difficult to...Economy
Saudi Arabia’s coffee production exceeds 800 tons annually
Riyadh, Saudi Arabia - Saudi Arabia is among the top 10 countries in the world in coffee consumption, leading the...The Kingdom hosts more than 2,535 coffee farms in the Southern Region, including over 500 model coffee farms
The country has also signed an agreement for the establishment of the Kingdom's first coffee city
Saudi Arabia, Pakistan ink pact on digital transformation, innovation
RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia signed a memorandum of understanding (MoU) with Pakistan here on Sunday...Under the terms of the MoU, Saudi Arabia and Pakistan will strengthen their SME and start-up ecosystems.
They will cooperate on policies, regulations and legislation in the digitization and electronic manufacturing sectors.
Saudi Arabia’s consumer spending up 8% to reach $30bn in Aug
Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia grew 8 percent to SAR 115.4 billion ($30.76 billion) in August 2023, from...Consumer spending includes total cash withdrawals, point-of-sale (POS) transactions and e-commerce sales through "Mada".
E-commerce sales through Mada cards increased 27 percent YoY to SAR 14.4 billion in August, marking the highest-ever sales value.
ROSHN group opens sale for SEDRA phase 3 units in Riyadh
RIYADH, SAUDI ARABIA - ROSHN Group, one of the Public Investment Fund (PIF) subsidiaries, announced on Sunday the opening of...SEDRA phase three will add 3,438 more houses to ROSHN’s first integrated development; 1,904 units are for sale in this initial sales tranche.
SEDRA 3 offers prospective residents eight options of floor plans and eleven facades, in single- or multi-family configurations,
Threats and violence as Turks feud over soaring rents
The government has capped property rent increases at 25 percent for households, and aligned them with the official inflation rate...Rents in Turkey have soared by an average of 121 percent over the past year, according to a study published by Bahcesehir University in August
Inflation approached 60 percent in August, but independent t economists say consumer price increases actually reached at least 128 percent
Congress passes bill, averting US government shutdown
Three hours before the deadline, the Senate voted to keep the lights on through mid-November with a resolution that had...Tonight, bipartisan majorities in the House and Senate voted to keep the government open, US President Joe Biden said
Biden berated McCarthy and the House Republicans for reneging on spending levels agreed with the White House months ago
Old Doha Port signs many agreements during Monaco Yacht Show
Monaco, Monaco--The Old Doha Port has signed several agreements with professional global companies, specialized in yacht during its participation in...The executive director of the Old Doha Port said the objective of the participation in the show was to put the port on the global map
The port officials showcased a model to streamline visiting yachts through a mechanism of entry and exit from Qatar
Aerial taxis to help Dubai fly high in air mobility
"The challenges in air mobility are posed by weather conditions. Leveraging data and insights from past experiences, strategies have been...Air mobility relies on advanced technologies, grounded in systematic plans that have undergone extensive scientific testing, says Duncan Walker, CEO of Skyports
A notable project on the horizon is the Aerial Taxi, slated to begin operations in 2026. This innovative venture will cover a maximum distance of 241 km, he adds
Saudi Arabia projects 2024 budget deficit at 1.9% of GDP
The kingdom's finance ministry estimated expenditures for 2024 to be at US$333.5 billion. According to the ministry, the projection is...The kingdom's finance minister said that the government will continue implementing fiscal and economic structural reforms
The minister also noted the important role of the PIF and development funds that enhance the growth of non-oil GDP
Social aspects of ESG put some firms in a tight spot
While companies are increasing their investments in social initiatives, many grapple with effective execution and evaluation, highlights a new study...While companies are increasing their investments in social initiatives, many grapple with effective execution and evaluation, highlights a new study by Kearney
With only a third of companies seeking external insights, there's a clear opportunity for enhanced collaboration and knowledge-sharing, the report points out
