Saudi Arabia extends online services to help foreign firms set up regional hqrs in kingdom
Riyadh, Saudi Arabia - Saudi Arabia's Ministry of Commerce has announced the provision of online services for foreign companies looking...Economy
Energy transition led Saudi Arabia to halt oil expansion, says official
RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to...Business Economy Geostrategy Global
Number of visitors to Qatar rise by 138.3% in August
The highest number of visitors was from the GCC countries at 59 percent.The highest number of visitors was from the GCC countries at 59 percent
As for visitors by type of port, the visitors via Air make up the highest percentage
UAE’s latest bet on tech: a ministry in the metaverse
In a project launched at Dubai's gleaming Museum of the Future, it announced that the UAE's economy ministry was setting...Representatives of tech giants mingled with entrepreneurs exploring the potential of the metaverse, a network of digital spaces intended as an extension of the physical world
The UAE has already introduced a law governing virtual assets and a regulatory body for cryptocurrencies while welcoming major crypto exchange platforms
Fed up of perennial power cuts, Gaza turns to solar
For most of Gaza's 2.3 million residents, living under a 15-year-old Israeli blockade, power cuts are a daily fact of...Gaza bakery owner Bishara Shehadeh began the switch to solar this summer, by placing hundreds of gleaming panels on his rooftop
Green energy advocates say that solar energy is a vision for a global future as the world faces the perils of climate change and rising energy costs
Crude prices surge as top producers plan to slash output
The jump comes after both main contracts suffered hefty losses in recent months on demand fears caused by an expected...WTI climbed 3.3 percent to $82.12 and Brent also piled on 3.3 percent to $87.94 ahead of a meeting of the group this week in Vienna
The reduction in production -- which delegates to OPEC said had not been finalized -- would be the biggest since the pandemic began when crude prices collapsed
Saudi Arabia holds GCC meeting to boost economic ties
Saudi Arabia hosted a meeting of the GCC Financial and Economic Cooperation Committee to broaden economic cooperation among the GCC...The meeting was held under the chairmanship of Minister of Finance Mohammed bin Abdullah Al-Jadaan
It reviewed a host of issues related to enhancing financial and economic cooperation among the GCC countries besides discussing the impact of the world economic crisis
IMF likely to open regional office in Saudi Arabia
IMF expects the Kingdom to become one of the world's fastest-growing economies, recording a growth of 7.6% this yearIMF expects the Kingdom to become one of the world's fastest-growing economies, recording a growth of 7.6% this year
Credit rating agency S&P has already affirmed Saudi Arabia’s rating at “A-/A-2” with a positive outlook citing higher oil revenues
Low carbon demand spurs green sukuk growth
With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent...With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent increase over 2020.
Sukuks cannot be used to finance illegal activities and are designed to avoid high levels of leverage and speculation, a new research highlights
Saudi banks provide $630 billion loans till August 2022
Riyadh, Saudi Arabia - Saudi bank loans granted to public and private sectors grew 15 percent by the end of...Private-sector lending also increased by 15 percent year-on-year to SAR 2.241 trillion ($600 billion).
Loans granted to public non-financial institutions increased 26 percent YoY to SAR 117.1 billion ($31.14 billion).
Cultural policy vital for diversified economy, says UAE Minister
UAE Ministry of Culture and Youth participated in the UNESCO World Conference on Cultural Policies and Sustainable Development – MONDIACULT...UAE Minister of Culture and Youth Noura bint Mohammed Al Kaabi participated in a UNESCO world conference in Mexico via video conference.
A delegation headed by Salem Al Qasimi, Permanent Delegate of the UAE to UNESCO, was present on the occasion.
Saudi growth in 2022 to outpace Asian giants
The kingdom recovered quickly from Covid-induced recession and is reaping the rewards of high global energy prices and increased energy...The kingdom is set to be the fastest growing of the world’s largest economies in 2022, outpacing the Asian giants of China, India, Indonesia, South Korea and Taiwan.
It is expected to grow much faster than the struggling major economies in Western Europe and North America.
