The future of luxury residential development needs to be green and smart
The GCC luxury market segment has experienced significant growth, driven by an increase in the number of high-net-worth individuals. Accommodating...Technology Business
China, Canada retaliate to Trump tariff war as markets fall
Washington, United States -- Mounting trade wars between the United States and its largest economic partners deepened Tuesday as huge...Business Economy
Saudi Arabia issues tax warning to businesses: Pay up or face hefty fines
Riyadh, Saudi Arabia - Saudi authorities have issued a clear warning to businesses operating within the country: settle your outstanding...The warning specifically targets businesses in the commercial sector that fall under the purview of value-added tax
VAT serves as one of Saudi Arabia’s prevailing tax systems and functions as an indirect tax levied on the purchase and sale of goods and services
GCC steps up to diversify Europe’s natural gas supply
Amid Russian-Ukrainian war, Europe aims to diversify its energy sources, with Gulf countries like Qatar, UAE, Oman, and Saudi Arabia...Amid the Russian-Ukrainian war, Europe aims to diversify its energy sources, with Gulf countries like Qatar, UAE, Oman, and Saudi Arabia offering alternative natural gas options
These countries have signed several long-term agreements to supply Europe with liquefied natural gas, helping to diversify Europe's energy sources and enhance energy security
Rival branches of Central Bank of Libya reunite
Libya's central bank announced that its two rival branches in the west and east are reuniting after nearly a decade...Libya has seen 12 years of stop-start conflict since the 2011 NATO-backed revolt that toppled strongman Moamer Kadhafi.
The Central Bank of Libya said it has "again become a unified sovereign institution", in a statement issued by the governor and his deputy.
NDF helps in financing of US$2.2bn renewable energy project
RIYADH, SAUDI ARABIA - The National Development Fund (NDF) on Sunday said it will contribute US$453 million (SAR1.7 billion) to...This is one of the world’s largest renewable energy projects, developed through joint venture by Saudi Aramco, Badeel and ACWA Power.
NDF's US$453 million financing commitment has attracted local and global banking groups in the Kingdom’s high-growth infrastructure market.
Iran-European Union trade reaches $2.5 billion in first half of 2023
Tehran, Iran -- Trade between Iran and the European Union member states reached 2.3 billion euros ($2.5 billion) in the...Iran-EU trade exchanges declined by 10 percent compared to the last year’s corresponding period.
Germany, Italy and the Netherlands accounted for most of the export of products to Iran from January to June 2023.
Bread-short Tunisia to restore flour supply to some bakeries
Since the beginning of August, European-style bakeries selling baguettes in the formerly French-ruled country had been prevented from accessing their...Days later those same bakeries also stopped receiving non-subsidized flour and semolina from the state, which controls the supply of all such essential goods in the country.
Economists attribute the bread shortage partly to speculation but, more broadly, to the lack of cereals. Tunisia's debt is around 80 percent of gross domestic product.
Saudi Arabian Crown Prince launches KAUST’s new strategy
RIYADH, SAUDI ARABIA - Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Prime Minister and Chairman of KAUST Board...Strategy aims to transform research into economically productive innovations by focusing on national priorities for research, development and innovation.
It aims to strengthen KAUST’s partnerships with both the public and private sectors, which will contribute to achieving the objectives of Vision 2030.
Hungarian companies want to expand work in Russia, says PM Orban
BUDAPEST, HUNGARY – Hungarian Prime Minister Viktor Orban said that companies from his country plan to expand their activities in...Hungarian Prime Minister Viktor Orban made the statement at a meeting with the head of Russia’s Tatarstan region Rustam Minnikhanov in Budapest.
The head of Tatarstan came to Budapest at the invitation of Orban in connection with the Hungarian national holiday, St. Stephen's Day.
Carbon neutrality strategy to propel green transition
This ambitious strategy, commissioned by the ASEAN Member States and with the support from the Australia for ASEAN Futures (AUS4ASEAN)...The ASEAN Strategy for Carbon Neutrality aims to complement national initiatives of ASEAN Member States in meeting their Paris Agreement commitments
The strategy, supported by AUS4ASEAN initiative, highlights the urgency of pursuing carbon neutrality to unlock the value potential of a green transformation
Indonesia president to participate in BRICS summit in South Africa
Jakarta, Indonesia--Indonesian President Joko Widodo departed for South Africa on Sunday to attend the BRICS summit in Johannesburg amid speculation that...Before leaving for the BRICS summit, Widodo told reporters that apart from attending the event he will also meet with other world leaders
Launched in 2009, BRICS aims to tame Western economic domination in global affairs, much to the consternation of the Western political leadership
