• ArcelorMittal wants ‘amicable solution’ on Italy steelworks

    ROME, ITALY - ArcelorMittal has offered to sell its stake or become a minority shareholder in an Italian steelworks after Rome...

    Italy considers the steelworks a strategic asset, but it has long been plagued by financial problems and environmental concerns.

    Talks with ArcelorMittal, which owns a 62-percent stake, had broken down over how to keep production going.

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    Saudi GACA issues air carrier, airport classifications for December 2023

    RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) issued its monthly classification index for air transport service...

    Flynas had the fewest complaints among airlines, 42 per 100,000 travelers and a complaint resolution rate of 100 percent.

    SAUDIA Airlines came second, with 61 complaints per 100,000 travelers and a resolution rate of 99 percent.

  • China remains world’s largest logistics market in terms of demand

    BEIJING, CHINA - The logistics sector in the country achieved steady recovery in 2023 and the country remains the world's...

    As final consumption continues to rebound, it will lead to consistent growth in production and import demand.

    There has been a continuous enhancement in the competitive capabilities of China's logistics enterprises.

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    Dubai GDP growth up 3.3 percent in nine months of 2023

    Real estate soared by 4 percent, while financial and insurance activities surged 2.7 percent. The knowledge economy improved with a...

    Accommodation and food services activities witnessed a remarkable 11.1 percent growth, solidifying Dubai's position as a global tourism leader.

    Dubai's financial and insurance sector, a significant contributor to the economy, posted a growth of 2.7 percent.

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    Bahrain and Slovakia to ramp up cooperation in urban planning

    Manama, Bahrain-- Bahrain and Slovakia are looking to ramp up the ongoing cooperation in urban planning and sustainable development. In...

    The CEO of UPDA lay emphasis on the need for exchanging expertise and technologies in the field of urban development

    Al Khayat apprised the delegation about UPDA’s role in overseeing the policy of sustainable urban planning in the kingdom

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    Cinema ticket prices in Saudi Arabia decline by 16% in 2023

    Riyadh, Saudi Arabia - The average cinema ticket prices decreased by over 16% in 2023 compared to the previous year,...

    With 627 screens across 69 venues nationwide, Saudi Arabia's cinema sector is expanding at one of the fastest rates globally

    In 2022 and 2023, box office sales exceeded $240 million annually, with over 17 million cinema tickets sold in 2023 alone

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    Global leaders need digital skills for AI management

    "Governments should design solutions to face these challenges rather than ignoring them, leveraging the positive effects and significant opportunities presented...

    Equipping global leaders with digital skills will ensure effective implementation across various economic sectors.

    The success of governments is tied to their proactive approach in adapting to new technological advancements.

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    France flooded with applications for electric car leasing scheme

    Paris, France - The French government has been flooded with applications from low-income households to lease a subsidized electric car from...

    Some 90,000 people have applied to the scheme since the start of the month, French Environment Minister Bechu said.

    President Emmanuel Macron unveiled the plan on social media in December as part of efforts to reduce carbon emissions in France.

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    In Davos, AI excitement persists but fears over managing risks

    A recent IMF report said AI would affect nearly 40 percent of jobs around the world, and some 60 percent...

    Over the course of the week, more than 3,000 policy makers, business executives, academics and innovators discussed some of the world's most pressing issues at the annual meet.

    The Forum announced it will hold a special meeting, hosted by Saudi Arabia, on “Global Cooperation, Growth and Energy for Development” on 28-29 Apr 2024 in Riyadh.

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    Tesla’s Musk throws down the gauntlet

    Amid declining sales and safety concerns, CEO covets more control, seeking solace in SpaceX's success.

    Tesla has lost over US$90 billion in market cap, a rough landing in 2024, and a continuation of a slide that could crash the EV maker’s stock value, data from Refinitiv revealed.

    There is declining growth in EV production and a wider slowdown in the market that has Tesla investors nervous.