General Gulf inflation rate logs 1.7% by end of Dec 2024
Muscat, Oman -- The general inflation rate in the GCC countries rose by 1.7 percent at the end of December...Business Economy
Asian markets rally after positive China-US trade talks
Asian stocks rallied Monday after top Chinese and US officials held "substantial" trade talks at the weekend, fuelling hopes the...Economy
Mawani completes Red Sea Gateway Terminal at Jeddah Islamic Port
Riyadh, Saudi Arabia - The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah...The gateway terminal has larger capacity, is equipped with the Optical Character Recognition (OCR) feature, and uses 146 different types of equipment
The development of Jeddah Islamic Port’s North Container Terminal is included in the Build-Operate-Transfer (BOT) contract
Tunisia gets new central bank chief amid economic crisis
TUNIS, TUNISIA - President Kais Saied on Thursday appointed a new governor of the central bank of Tunisia, a north African...Fethi Zouhair Nouri, a 69-year-old member of the central bank's board, will succeed 64-year-old Marouane Abassi.
Tunisia has grappled with a growing economic crisis following the COVID-19 pandemic, political tensions.
India’s top court strikes down anonymous election funding scheme
Prime Minister Narendra Modi's party has defended electoral bonds, arguing that because the electoral bond donations are channelled through the...The scheme allowed donors to give anonymously through "electoral bonds" purchased from a bank
Critics have condemned the campaign financing method as an opaque way to funnel "black money" to parties
Saudi Arabia set to establish more smart industrial zones
Riyadh, Saudi Arabia - Saudi Arabia will establish more smart industrial zones, Minister of Municipal and Rural Affairs and Housing,...Minister of Municipal and Rural Affairs and Housing, Majed Al-Hogail revealed this at the conclusion of the inaugural Global Smart City Forum 2024 here on Tuesday
Minister of Industry and Mineral Resources Bandar Alkhorayef who also attended the Forum, stressed the industry and mining sectors' increasing demand for smart industrial cities
Saudi budget records $10 billion deficit in Q4 2023
Riyadh, Saudi Arabia - Saudi Arabia's general budget recorded a deficit of $9.86 billion in the fourth quarter of 2023,...The total revenues for the period amounted to $95.45 billion, while total expenses reached about $105.32 billion
This reflects a slight increase in the deficit compared to the previous quarter, which stood at $9.54 billion
GCC economies eye $2.5trn from better productivity
The region pins hope on the new Productivity Potential Index that offers a forward-looking framework, incorporating environmental, health, and innovation...The region pins hope on the new Productivity Potential Index that offers a forward-looking framework, incorporating environmental, health, and innovation factors.
The PPI enhances output by identifying and improving weak areas, addressing 21st-century challenges like climate change, biodiversity loss, and social change.
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...These services encompass issuing regional headquarters as a branch or as a new foreign company, in addition to issuing, amending, and renewing commercial registers
The electronic services are accessible through the ministry's digital platform at e.mc.gov.sa and the Saudi Business Center's platform at business.sa
Saudi Arabia enacts law to safeguard whistle-blowers and witnesses
Riyadh, Saudi Arabia - Saudi Arabia on Tuesday granted approval for the law for the protection of whistleblowers, witnesses, experts,...The milestone law, previously greenlit by the Shoura Council, is designed to safeguard individuals who may face threats for providing information on crimes
The law empowers judicial authorities to shield them from potential threats, assaults, revenge, intimidation, and other risks
UAE is an exceptional economic leader in Middle East
"We've collaborated closely with the World Governments Summit for over a decade. It presents a vital opportunity to foster innovative...UAE hailed as a pivotal economic and innovation hub in the Middle East by OECD Secretary-General Mathias Cormann.
Global economy's resilience amid COVID-19 highlighted, with growth projections of 2.9% and 3% for the upcoming years.
South Korea presses for enhanced ties with UAE in high tech and AI
Dubai, UAE--South Korea has pressed for boosting cooperation with the UAE in the field of advanced technology and artificial intelligence...He affirmed his country's eagerness to explore and exchange digital best practices with the UAE
Jean said the UAE has attracted Korean experts specialised in AI to enhance knowledge exchange
