Bitcoin close to record as cautious markets eye US election
The surge in the price of bitcoin is seen as a bet on a Republican victory, as Donald Trump has...Economy
Putin thanks UAE president for positive role in prisoner exchange with Ukraine
UAE President Sheikh Mohamed meets his Russian counterpart Vladimir Putin to discuss bilateral ties and Middle East. Sheikh Mohamed will...Economy Geostrategy
Second quarter foreign investments in Saudi Arabia hit $666bn
Riyadh, Saudi Arabia -- Foreign investments in Saudi Arabia increased 4 percent year-on-year (YoY) to SAR 2.50 trillion ($666. 39...The foreign investment balance recorded an increase of 5 percent quarter-on-quarter, or nearly SAR 109.9 billion.
Foreign direct investments (FDIs) represent 41 percent, or SAR 1.02 trillion, of total investments, Argaam reported.
Maaden posts net loss in Q3
Sales revenue was US$1.6 billion (SAR 6.22 billion) in Q3 2023.Maaden posted a net profit of US560 million (SAR 2.1 billion) in Q3 2022.
Maaden posted net earnings of $183 million for the first nine months of 2023.
NMDC, AD Ports Group ink MoU
The firms will continue to work closely on future global projects.The agreement is in line with the objectives of UAE’s national strategy for industry and advanced technology.
The MoU will help the two firms to work together to strengthen the global maritime industry and support the economic growth of the UAE.
Bilateral trade in 2023 to overtake 2022 figures, says Canada’s envoy to UAE
ABU DHABI, UAE - Trade between the two countries is on an upswing with volumes this year expected to surpass...Trade between the UAE and Canada, worth US$4.1 billion in 2022, surpassed the 2021 figure of US$3.4 billion (AED12.7 billion).
Bilateral trade to the tune of US$1.8 billion in H1 2023 (January to June) exceeded the US$1.7 billion worth of trade in H1 2022.
Foreign investments rise in NE China due to several projects
SHENYANG, CHINA – Investments in the country’s northeast have grown over the past years as several multinational corporations put in...Aramco and JV partners NORINCO Group and Panjin Xincheng Industrial Group have a mega Saudi-Chinese petrochemical project in Liaoning Province.
The project is a 300,000 barrels per day refinery and a petrochemical complex with an annual production capacity of 1.65 million metric tons.
Saudi Arabia’s Q3 real GDP falls by 4.5% on decreased oil activities
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) decreased by 4.5 percent in the third quarter of...Non-oil activities and government activities grew by 3.6 percent and 1.9 percent respectively in the third quarter due to a 17.3 percent fall in oil activities.
Seasonally adjusted real GDP decreased by 3.9 percent in the third quarter compared to the previous quarter, due to a decrease in oil activities and government activities.
‘Digitization, AI reshape sports and health investments’
AI will play a major role in improving sports performance and health sector advancements, Thomas H. Rudy of leAD Sports...AI will play a major role in improving sports performance and health sector advancements, Thomas H. Rudy of leAD Sports & Health Tech Partners tells TRENDS.
Rudy envisions Saudi Arabia as a major player in health and sports investments, citing examples from golf and football and predicts substantial growth in team values.
Saudi Arabia to produce 80-90% insulin domestically
"More than 200 essential medications have been identified, making up about 40 percent of the total purchases by government health...Saudi Arabia is making strides in its pharmaceutical sector, with aims to produce 80 to 90 percent of its insulin domestically
At the Global Health Forum, key agreements were inked, spotlighting the Kingdom's commitment to medical biotechnology
Saudi civil aviation authority announces economic policy of sector
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) has announced the economic policy of the civil aviation...The economic policy aims to increase the operational performance of the Kingdom's airports and improve the performance of national carriers.
This is to help change the Kingdom into a global destination for transport and shipping services by providing infrastructure attractive to foreign investment.
COP28 wide open to private sector, says climate talks chief
ABU DHABI, UAE - Upcoming UN climate talks in Dubai will be open to the private sector on an unprecedented scale,...Sultan Al Jaber, the COP28 president has consistently tried to frame the climate crisis as an economic opportunity.
He said about 70 ministers and 100 delegations are attending the two-day talks, more than double the usual number.
