NEOM announces Aquellum as futuristic lifestyle community
NEOM, SAUDI ARABIA - The Board of Directors of NEOM has announced Aquellum, a luxury and experiential space embedded within...Business Economy Geostrategy Tourism
US regulators authorize first bitcoin funds on public markets
The authorization of the ETFs - which are comparable to stocks or mutual funds as far as accessibility to everyday...Economy
Metaverse set to transform banking in GCC
Regional players eye big share as Metaverse is expected to become a US$800 billion market. Some analysts believe it will...Metaverse is expected to become a US$800 billion market -although some analysts think it will reach $30 trillion
The use of Metaverse in banking may lead to the emergence of fully digital bank branches, reducing or even eliminating the need for physical ones
AD Ports, Kuwait GAC sign MoU
The port operator will develop a virtual trade corridor between the two countries.AD Ports Group’s digital arm, Maqta Gateway, will develop the new virtual trade corridor based upon its Advanced Trade & Logistics Platform.
The MoU will also provide for accelerated procedures for expediting shipments of perishable goods, reducing dwell time at borders.
UAE finance ministry to organize dialogue sessions WGS 2022
UAE’s Ministry of Finance will organize a series of specialized dialogue sessions on the sidelines of the World Government Summit...This year’s summit themed ‘Shaping the Future of Governments’ will be held on March 29 and 30, coinciding with the closing of Expo 2020 Dubai.
The summit will also launch 20 in-depth knowledge reports that outline key topics on global governments’ agendas in cooperation with prominent global research institutions.
UAE to invest $2bn in Egypt in order to bolster its economy
The UAE is going to invest some $2 billion in Egypt by buying up the state-owned companies in order to...The world’s largest wheat importer has been hit hard by record grain prices that were fueled by the Russia-Ukraine war
The decision came during a rare meeting between leaders of Egypt, the UAE and Israel to discuss energy and food security
Jordan, USAID launch project to support energy sector
The Ministry of Energy and Mineral Resources and the United States Agency for International Development (USAID) in Jordan have launched...The project seeks to achieve financial sustainability of Jordan's electricity sector, strengthen the sector's regulatory frameworks and improve its services in oil and gas markets.
The project valued at $40 million will be implemented over a five-year period, citing a statement from the Energy Ministry.
Meat off the menu in crisis-hit Lebanon as poverty bites
The Lebanese pound has lost more than 90 percent of its value on the black market, more than 80 percent...Imported red meat price has been increased five times in Lebanon which is more than the monthly minimum wage of 675,000 Lebanese pounds ($33)
Increasing transport costs has forced Lebanon to import 40 containers of frozen meat which used to import more than 70 containers every month
New world order? Pandemic and war rattle globalization
According to a professor at Ghent Institute, the pandemic did not bring radical changes in terms of reshoring but the...The Ukraine crisis has highlighted Europe's and especially Germany's heavy dependence on gas supplies from Russia
The US warned China that if it provided material support to Russia against Ukraine, it would would face 'consequences'
Palestine elects West Bank councils in rare exercise of democracy
Central Elections Commission chief Hanna Nasser said a number of candidates had been arrested for political reasons.Saturday's second round of vote in West Bank was held in 50 towns; the first round in December covered 154 villages
Because of the constant delay, Presidential elections have not been held for 15 years in Palestine
Saudi Arabia eases rules for US, UK, and Schengen visa holders
The move comes two weeks after the country lifted all Covid-19-related entry restrictions.Citizens of any country can now receive a 12-month tourism visa on arrival in Saudi Arabia without needing to apply in advance
However, they will have to hold one of the three visas, and travel on one of the country’s national carriers: Saudia, Flynas, or Flyadeal
Riyadh, Dubai lead IPO surge in GCC
For the second time since the global financial crisis, the Middle East has surpassed Europe in terms of IPOs as...The proceeds of IPOs from Riyadh to Abu Dhabi have totaled $4.8 billion since the beginning of 2022
Saudi Arabia has the busiest stock market in the Middle East in terms of IPO activity
