WEF 2024 aims to bridge trust gaps amid global discord
Geneva, Switzerland - The World Economic Forum Annual Meeting 2024 is set to gather over 2,800 global leaders in Davos-Klosters,...Economy
Dubai leads MENA region in urban mobility readiness
The emirate ranked 28th globally in the 2023 Urban Mobility Readiness Index, highlighting its efforts in creating a sustainable, future-ready...Economy
Playa Hotels inks Saudi resort deal
It will set up facilities along the Arabian Gulf and the Red Sea.Playa signed an agreement regarding the resorts with Saudi’s Tourism Development Fund on Monday
This will contribute to enhancing the distinctive tourism experience and create local job opportunities
Saudi inflation shoots up to 1.6%, fueled by higher food cost
Saudi inflation shot up to 1.6 percent in February, fueled by higher gasoline and food prices, the General Authority for...Inflation for January stood at 1.2 percent. In February, prices for gasoline 91, gasoline 95 and diesel grew 26.7 percent, 25.9 percent and 21.1 percent year-on-year, respectively
The annual growth in prices for the transportation sector as a whole slowed to 4.3 percent in February from 4.9 percent in January
Saudi Arabia to inject $152 billion into economy by 2030
Saudi National Development Fund will inject SR570 billion ($152 billion) in the Kingdom’s economy by 2030, Saudi Arabia’s Crown Prince...The Crown Prince said that it will contribute to tripling the share of non-oil GDP to SR605 billion over the same period
NDF, through its funds and development banks, will increase the participation of the private sector in the GDP by three-folds by 2030
Ukraine launches website for cryptocurrency donations
On the “Aid for Ukraine” website, users can currently offer donations in 10 cryptocurrencies, including Bitcoin, ether, tether and dogecoin.On the “Aid for Ukraine” website, users can currently offer donations in 10 cryptocurrencies, including Bitcoin, ether, tether and dogecoin
“Cryptocurrencies play a significant role in Ukraine’s defense,” Oleksandre Borniakov, Ukraine’s deputy minister of Digital Transformation, said in a statement
Israel vows not to bypass Russia sanctions as meditation continues
Israel, which maintains close ties with both Russia and Ukraine, has been facing growing criticism from Washington and Kyiv over...Israeli PM spoke with Putin over a call on Monday that lasted 90 minutes after speaking with Ukrainian President on Saturday
On Friday, Victoria Nuland from US administration has urged Israel to join Western sanction to punish Putin's aggression
KSA, Greece partner to support growth of digital economy
The two countries discussed cooperation in establishing an advanced digital infrastructure.The two countries discussed cooperation in establishing an advanced digital infrastructure
Partnership was reviewed between Saudi IT Minister Eng. Abdullah bin Amer Al-Sawaha and the Greek minister Adonis Georgiadis
GCC countries lead the world in remittances
Over the past four years, GCC members have seen billions of dollars being remitted to other countries.Member nations of the GCC have always had a healthy representation of immigrants in their workforce
As a result, these countries also see some of the largest amount of remittances sent out of them
Morocco to support transporters during fuel price spike
The Moroccan government faced weeks of pressure over rising prices, in a country heavily dependent on imports of energy and...The Moroccan government faced weeks of pressure over rising prices, in a country heavily dependent on imports of energy and cereals
Both oil and wheat prices surged due to Russia's invasion of Ukraine, although oil fell back on Monday
Solar switch may put off electricity crisis in Lebanon
Lebanon's energy industry sees a loss of up to $2bn every year as state treasury pays over $50bn in advances...Between $1.5bn and $2bn is lost in Lebanon's energy industry every year as state treasury pays over $50bn in advances to Electricité du Liban
The country’s electrical network sees 3500 megawatts demand while only 2,000 megawatts is produced, says energy expert Ahmed Daher
UAE e-commerce hits $5bn in 2021, may surpass $8bn by 2025
E-commerce in the UAE surged to over $5 billion in 2021 and is projected to surpass $8 billion by 2025,...More consumers in the UAE made online purchases across all categories during 2021, compared to 2020, with 75 percent of respondents typically purchasing online.
The UAE and Qatar are on top, with GDP-per-capita above $40,000 and internet penetration above 90 percent.
