Saudi Arabia transfers 8% Aramco stake to PIF-owned firms
Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...Business Economy Energy
Over 105m people visit Dubai Mall in 2023
DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...Business Economy
Events keep hotel occupancy high in Saudi Arabia
Over the next decade, the Kingdom's tourism industry is projected to develop at an annual rate of 11 percent, making...Over the next decade, the Kingdom's tourism industry is projected to develop at an annual rate of 11 percent, making it the region's fastest-growing tourism market
More hotels are being built at full speed, and extensive infrastructure works and upgrades are being carried out in the central business hubs of Riyadh, Jeddah, and other cities
UAE, France foreign ministers discuss strategic partnership
ABU DHABI, UAE - UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan received French...The UAE and French ministers discussed bilateral relations and available opportunities for expanding cooperation between the two countries.
The two sides stressed their keenness to continue consultations and coordination on issues of mutual concern.
US sees surprise hiring surge as unemployment edges down
US job gains surged unexpectedly last month as unemployment slipped to its lowest rate in over five decades, government data...The figure, which could prove concerning to policymakers, defied expectations of a further decline in job gains.
The Federal Reserve has also been monitoring wage growth on concerns that elevated salaries could feed into services inflation.
US, UAE officials discuss financial crimes
ABU DHABI, UAE - The US Department of the Treasury’s Under Secretary for Terrorism and Financial Intelligence Brian Nelson led...Officials from both the countries reiterated their commitment to the continued dialogue between the two sides.
They agreed to exchange respective experiences on efforts pertaining to Virtual Assets and Virtual Asset Providers (VASPs), supervisory efforts.
Sanofi 2022 net profit at $7.3bn
Dupixent drug has been a huge success for the firm.Sanofi is aiming for US$10.9 billion in sales of Dupixent this year.
The company's net profit rose by eight percent in 2022.
Europe looks to geothermal energy as gas alternative
MUNICH, GERMANY - The heating plant in Munich's southern Sendling neighborhood has been run for more than a century on gas,...Munich is pouring in US$1.1 billion through 2035 to develop the geothermal energy and make the city's heating carbon neutral.
Reliable and sustainable geothermal energy seems like the perfect alternative to gas.
Egyptians hope to bag bargains at Arab world’s largest book fair
Cairo, Egypt---Thousands of Egyptian bibliophiles weave through a labyrinthine display of books, reviving an annual tradition at the Arab world's largest...The 54th Cairo International Book Fair was overshadowed by a punishing economic crisis that has seen Egypt's currency halve in value and prices skyrocket in the past year.
To incentivize readers, Egypt's publishers' association has encouraged sellers to give the option of buying books in instalments through popular buy-now-pay-later services.
China expected to boost global growth but uncertainties remain: IMF
After almost three years of stringent health restrictions, Beijing in December abruptly ended the zero-Covid policy that had battered the...The IMF on Monday revised its 2023 growth forecast for China up to 5.2 percent, after upgrading its global growth forecast partially based on the country's reopening.
China's population shrank last year for the first time in more than six decades and seen birth rates plunge to record lows as its workforce ages.
Number of visitors to Petra surges by 147 percent
Suliman Farajat, chairman of the PDTRA, stated that tourism in the red-rose city swiftly rebounded from the Covid pandemic impact...In January 2019, a total of 56,559 people visited Petra, while in January 2022, the lost city welcomed 30,287 visitors
Suliman Farajat, chairman of the PDTRA, stated that tourism in the red-rose city swiftly rebounded from the Covid pandemic impact in 2022
Iraq hopes talks can resolve hitches in US$10bn Total deal
Iraq admitted it had differences with France's TotalEnergies over a US$10-billion contract, including over the distribution of investments, but expressed...The French energy giant had signed the US$10-billion contract with Iraq in September 2021.
The partnership has struggled to materialize amid reported signs of discord between the two sides.
