Qatar looks to boost tourism sector by streamlining regulations
Doha, Qatar-- Qatar is looking to develop "plans and strategies" to streamline procedures and regulations in order to solve solve...Business Economy Tourism
Geopolitical tensions boost oil, weigh on equities
Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...Business Economy Energy Uncategorized
Saudi Arabia leads Arab world in gold reserves
The Kingdom holds 323.1 tons of gold, accounting for 21.4% of the total yellow metal held by central banks in...The Kingdom holds 323.1 tons of gold, accounting for 21.4% of the total yellow metal held by central banks in the Arab countries. Qatar, UAE and Kuwait are also regional leaders
Saudi Arabia and Oman have the majority of the natural gold mines in the GCC region. Saudi gold ore production, meanwhile, stood at around 430,000 ounces in 2022
First-ever Dubai-Palestine business meet focuses on startups
Dubai, UAE - A delegation of Palestinian business executives including 21 start-up representatives visited Dubai Chamber of Digital Economy.It is...The event included demonstration of key steps to set up a digital-first business in Dubai, and trade opportunities with Dubai companies.
Participants at the event included Hashim Shawa, Chairman of Bank of Palestine Group, and; Linda Tarzi, Board Member at Bank of Palestine Group.
Oman to ramp up ‘military and defense industry’ ties with Iran
Tehran, Iran-- Oman is keen to improve the military and defense ties with Iran in order to ensure the security...Sultan of Oman underscored the importance of developing military and defense industry cooperation between the two countries
The visiting Iranian Major General Mohammad Bagheri termed Tehran-Muscat relations as stable and positive
ADNIC records 17% profit rise
The firm's net profit soared to US$27.14mn in Q1 of 2023.The insurance company's total revenue took a dive to $273 million in Q1 of 2023 from $300 million for the same period in 2022
Its net income from investment however shot up 94.0% to $12.60 million compared to $6.50 million for the same period in 2022
Saudi Arabia, South Korea sign two MoUs for mobility, road projects
Riyadh, Saudi Arabia--Saudi Arabia and South Korea have signed two agreements on Tuesday for future mobility and roads in the...The agreements between the two countries will boost cooperation in mobility and innovation in the transport and logistics services sectors
Both the countries will, in accordance with the spirit of the agreement, exchange experiences to solve challenges in adopting modern technologies
Qatar, Spain launch innovation program to support collaborative research
Doha, Qatar: Qatar and Spain have launched the Qatar Spain Innovation Program (QASIP), a joint venture between the Qatar Research,...The program aims to support collaborative research and development projects in energy, health, resource sustainability, and digital technology
The program is the first fruit of cooperation between the QRDI Council and CDTI, following a MoU signed by Qatar and Spain in 2022
Central Bank of Oman issues treasury bills valued at US$36.35 million
Muscat, Oman--The Central Bank of Oman (CBO) has raised $36.35 million by way of allotting treasury bills on Tuesday, the...According to the central bank, the value of the allotted treasury bills amounted to $26 million, for a maturity period of 28 days
The bank added in a statement that the allotted treasury bills amounted to $10.38 million for a maturity period of 91 days
UAE growing EV charging stations from 500 to 800
Abu Dhabi, UAE - The UAE is growing the number of Electric Vehicle (EV) charging stations from 500 to 800...Recent years have seen the UAE make a push towards adoption of electric vehicles
The country's EV market is expected to grow at a CAGR of 30 percent until 2028
GCC project awards surge despite economic challenges
Saudi Arabia remains the largest projects market in the GCC as the total value of contracts awarded increases by 54.7...Saudi Arabia remains the largest projects market in the GCC as the total value of contracts awarded increases by 54.7 percent YoY during Q1-2023 to US$29.9bn, says a latest report
The GCC's construction sector is set to take the lion's share of project awards in 2023, even as water, petrochemical, and power sectors may also perform well, adds the report
UAE begins talks with Thailand under CEPA to boost trade
Seeking to widen its foreign trade and grow national economy, the UAE has signed Comprehensive Economic Partnership Agreement (CEPA) negotiations...The UAE has signed four agreements with India, Israel, Indonesia and Turkey, with the first two having already come into force
The country is holding negotiations with many other nations in the neighborhood and beyond to arrive at similar agreements
