Saudi Arabia set to open its first financial center
Riyadh, Saudi Arabia - Saudi Arabia is poised to launch its inaugural financial center, with unified and standardized policies and...Economy
Nationalization efforts transform Saudi workforce
Saudi Arabia's ambitious nationalization initiative has significantly impacted its labor market, with the Kingdom experiencing a historic low unemployment rate...Economy
Saudi sukuk issuance in 2021 reaches $36.9 billion: S&P Ratings
Saudi companies and government raised $36.9 billion sukuk in 2021, compared to $27 billion in 2020, an increase of 37...In 2021, the global sukuk issuance reached $147.4 billion compared with $148.4 billion in 2020.
Foreign-currency denominated sukuk issuance increased by 10 percent; jumbo issuances in Saudi have contributed to this increase.
Protests erupt in Lebanon against harsh economic policies
A group of engineers in Lebanon held a sit-in protest outside the Central Bank branch in Sidon, in conjunction with...The headline of the protest was, “Until rights are restored” & “For the right to hospitalization and a decent retirement
They deemed that “the banks are seizing the funds and savings of engineers and depositors in general, and imposing controls
3,000 new rooms added to Egypt’s total hotel capacity, says tourism ministry
Egypt has added 3,000 new hotel rooms to its total hotel capacity with the opening of 19 new hotel facilities,...Construction of 19 new hotel facilities in several governorates has led to the creation of these rooms.
According to tourism ministry officials, the new facilities have created 2,500 job opportunities.
Dubai Supreme Council of Energy approves 2030 carbon strategy
The approval came at a meeting chaired by the council’s chairman Sheikh Ahmed bin Saeed Al Maktoum.The council approved the updated plans and objectives to reduce carbon emissions by 30 percent by the end of 2030
This move is expected to, among other things, support the UAE’s efforts to achieve carbon neutrality by 2050
Tunisia president dissolves top judicial watchdog
Kais Saied has concentrated all executive power since July 25, when he dismissed his Prime Minister and suspended parliament.Tunisian President has dissolved a major independent judicial watchdog saying that the Superior Council of the Judiciary "is a thing of the past"
Tunisia was the only democracy to emerge from the Arab Spring revolts but civil society groups and Saied's opponents express fear of it in danger
Syrian opposition groups make new bid to unite against Assad
The political groups, now mainly based abroad, have seen their influence wane in recent years as Iran and Russia steadfastly...Riad Hijab, who defected to the opposition when he was Assad's prime minister in 2012, did not say what mistakes had been made
However, his entourage said opposition parties had failed to communicate with ordinary Syrians and make themselves relevant to their daily battles
Iran wants better relation with neighbors, says official
Since connecting with neighbors is of utmost importance in Iran’s foreign policy, the current administration has set a transparent framework...President Ebrahim Raisi has time and again emphasized the development of mutual ties with neighboring countries, said the official
The country's Ministry of Foreign Affairs has put on agenda several programs regarding its neighbors nations
Data cover: GCC sees rise in cyber insurance demand
Compared to Europe and US, cyber insurance is a profitable proposition for GCC firms due to amenable market factors such...For the Gulf region, cyber insurance is still a viable and profitable proposition when compared to Europe, Asian and US markets
There has been an increase in demand from the SME and mid-market client pool as well as financial institutions in the region
Iran says Russia will invest $83.58m in Sirik power plant
Iran has confirmed that Russia will invest $83.58 million in Sirik power plant based in southern Iran.After discussions, the Russian Ministry of Finance agreed to invest in the 1400-megawatt (MW) gas-powered plant
Some seven Iranian companies are working in the project, employing 250 manpower directly and indirectly
Iraq keen to benefit from Egypt: Central Bank Governor
Iraq is keen to benefit from the Egyptian Investment Authority, the Governor of Iraq’s Central Bank Mustafa Ghaleb said on...Iraq’s Central Bank Governor Mustafa Ghaleb met Mohamed Abdel Wahab, CEO of the Egyptian General Authority for Investment and Free Zones
Mustafa Ghaleb praised "the development witnessed by the Arab Republic of Egypt in all sectors, especially the business and investment sector"
