Dhahran, Saudi Arabia -- Aramco's North Ghawar Oil Producing Complex has become the company's fifth facility to be added to the World Economic Forum Global Lighthouse Network, having been recognized for its comprehensive adoption of advanced Fourth Industrial Revolution (4IR) technologies that support its operational and environmental performance.Aramco said in...

Dubai, UAE - Creators HQ in the UAE, the world’s first international hub for the content economy’s creators and entrepreneurs, has announced a strategic partnership with X, the global social media platform to produce exclusive and original content. This groundbreaking collaboration aims to create purposeful, credible and quality global content...

Dubai, UAE - Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, presented the prestigious ‘One Billion Award’ to content creator Simon Squibb from the UK. The award ceremony was held during the third edition of the 1 Billion Followers Summit, the world’s largest...

Riyadh, Saudi Arabia -- Non-institutional foreign investors increased their stake in Tadawul-listed equities, excluding Saudi Aramco, from 9.70 percent to 9.72 percent, equivalent to SAR 334.55 billion, during the week ending January 9, according to market data. This category of ownership includes swap holders, residents, and qualified foreign investors (QFIs),...

Dubai, UAE - The 1 Billion Followers Summit, the world’s largest event dedicated to the content creator economy, brought together industry titans to explore the transformative impact of artificial intelligence (AI) on content creation. With participation from YouTube, Meta, and Duolingo, the Summit underscored the evolving landscape of digital media...

Dubai, UAE -- Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, attended part of the third edition of the 1 Billion Followers Summit, the world’s largest summit dedicated to the content creator economy. Organized by the UAE Government Media Office, the three-day summit is...

Abu Dhabi, UAE - The UAE’s technology industry is set to achieve record growth in 2025, driven by significant expansion in digital innovation and the adoption of cutting-edge technologies. This growth further solidifies the UAE’s stature as a global hub for innovation and an international beacon for tech companies. The...

Dubai, UAE - The third edition of the 1 Billion Followers Summit, the world’s first and largest event dedicated to shaping the content creator economy, is hosting over 300 keynotes, panels and main sessions. The Summit, organized by the UAE Government Media Office, will be hosted in the UAE from...

Doha, Qatar -- Real estate sales contracts worth 251.25 million qatari riyals were registered with the emirate's Real Estate Registration Department at the Ministry of Justice during the period from Dec. 29- Jan 2. During the same period, the total sales contracts for the real estate bulletin for residential units...

Riyadh, Saudi Arabia -- Saudi Arabia's Industrial Production Index (IPI) increased by 3.4 percent in November 2024, compared to Nov 2023, according to the kingdom's ]General Authority for Statistics (GASTAT). This increase is driven by growth in mining and quarrying, manufacturing, water supply, sewerage, and waste management and remediation activities....

Riyadh, Saudi Arabia -- Saudi Arabia maintained its first rank across MENA in terms of Venture Capital (VC) funding in 2024, witnessing a total VC deployment of $750 million (SAR2.8 billion). The "2024 Emerging Markets Venture Capital Report", published today by the venture data platform MAGNiTT, said the Kingdom secured...

Doha, Qatar – Qatar’s non-energy private sector recorded robust growth in the final months of 2024, according to the latest Purchasing Managers' Index (PMI) data from the Qatar Financial Centre (QFC) and compiled by S&P Global. The labour market was a key driver of this growth, with employment and wages...

Riyadh, Saudi Arabia -- Saudi Arabia's Public Investment Fund (PIF) on Monday announced its first murabaha credit facility for the sum of $7 billion as part of its medium-term capital raising strategy. The financing structure is supported by a diverse syndicate of 20 international and regional financial institutions, PIF said...

Abu Dhabi, UAE -- The United Arab Emirates (UAE) achieved a milestone in the aviation industry as it surpassed 1 million air traffic movements in 2024, said the country's General Civil Aviation Authority (GCAA). On 22nd December 2024, the one-millionth annual air traffic movement was recorded with the arrival of...

Dubai, UAE - Dubai has been ranked eighth worldwide and first in the Middle East in the Global Power City Index 2024 (GPCI) for the second year in a row. In an annual study released by Japan’s Mori Memorial Foundation, the index highlights Dubai’s role as a leader in innovation,...

Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia PMI, dropped to 58.4 points in December 2024. The latest reading indicated a significant improvement in operating conditions in the non-oil private sector, while the index has remained above the...

Muscat, Oman - The population of the six GCC countries reached 57.6 million in 2023, compared to 56.6 million in 2022. Males accounted for 62.4% of the total population, while females made up 37.6%. The report also indicates that the population density was 23.9 people per square kilometre, with the...

Riyadh, Saudi Arabia -- Renowned luxury fashion designer Brunello Cucinelli shared his insights on building a global brand and the future of fashion with Saudi creatives and entrepreneurs during a special event hosted by the Cultural Development Fund (CDF) in AlUla. The event, held in collaboration with the Fashion Commission,...

Singapore - Oil prices extended gains on Friday after closing at their highest in more than two months in the prior session, amid hopes that governments around the world may increase policy support to revive economic growth that would lift fuel demand. Brent crude futures rose 16 cents, or 0.2...

Riyadh, Saudi Arabia - Saudi Arabia’s trade balance recorded a 30% monthly growth, achieving a surplus of SAR 20.769 billion ($5.6 billion) in October 2024, according to the Kingdom’s recently released global trade bulletin. This marks an increase of over SAR 4 billion ($1.08 billion) from SAR 15.999 billion ($4.32...

Dubai, UAE -- Dubai’s real estate market recorded 180,900 transactions worth AED 522.1 ($142.1 billion) in 2024, a market report said. The report by fäm Properties said 2024 saw big leaps of 36 percent and 27 percent respectively on the previous high of 133,100 sales worth AED 411.1 billion in...

New Orleans, United States - The celebratory atmosphere of Bourbon Street in New Orleans, long an American byword for indulgence and revelry, was dimmed Wednesday as residents and visitors alike reeled from a deadly truck attack on New Year's crowds. Several square blocks of the main entertainment district were blocked off...

Gaza, Palestinian Territories -- The Israeli forces have killed at least 45,553 Palestinian civilians and injured at least 108,379 others, most of them children, since the beginning of their onslaught on the occupied territory in Oct 2023. The Palestinian Ministry of Health said today that the Israeli forces committed two...

Riyadh, Saudi Arabia – The value of assets under Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) assets—both domestic and foreign—in the Saudi financial market recorded an annual growth of 37 percent (by nearly SAR 43 billion or $11.44bn) by the end of the third quarter (Q3) of 2024. This...

Paris, France - Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for Artificial Intelligence (AI), falling interest rates, and hopes of tax cuts. Here are four of the most remarkable aspects of 2024 for financial markets: Stock records fall like dominoes Wall Street's three main...

Damascus, Syria -- Syrian authorities have appointed Maysa Sabreen as interim central bank governor, a bank official told AFP on Tuesday, the first time a woman heads the financial establishment. Sabreen, until recently the bank's first deputy governor, took her new position on Tuesday, said a department manager at the Central...

Riyadh, Saudi Arabia -- Unemployment rate among Saudi nationals reached 7.8 percent in the third quarter of 2024, a year-on-year increase of 1 percentage point from the similar period last year. Data released by the General Authority for Statistics (GASTAT) said that the Saudi and non-Saudi labor force stood at...

The experts called for urgent, independent and thorough investigations into alleged serious violations of international law, saying Israel's continued impunity sends a dangerous message.

London, United Kingdom -- Conversational artificial intelligence (AI) tools may soon "covertly influence" users' decision making in a new commercial frontier called the "intention economy", University of Cambridge researchers warned in a paper published Monday. The research argues the potentially "lucrative yet troubling" marketplace emerging for "digital signals of intent" could,...

Cairo, Egypt -- Egypt has tested a new 10-kilometre (6.2-mile) extension to the Suez Canal as it tries to minimize the impact of currents on shipping and increase the key waterway's capacity. Two ships used the new extension on Saturday, a statement from the Suez Canal Authority said. Authority chief Osama...

Palestinian Territories -- A Palestinian TV channel said five of its journalists were killed Thursday in an Israeli strike on their vehicle in Gaza. A missile hit the journalists' broadcast truck as it was parked in the Nuseirat refugee camp in central Gaza, according to a statement from their employer,...

Washington, United States -- The International Monetary Fund said Tuesday that it has reached a deal with Egyptian authorities allowing the country access to about $1.2 billion. The funding access is subject to executive board approval. "The Egyptian authorities have continued to implement key policies to preserve macroeconomic stability, despite ongoing...

Kabul, Afghanistan - Pakistan air strikes in an eastern border province of Afghanistan killed 46 people, the Taliban government spokesman told AFP on Wednesday. "Last night (Tuesday), Pakistan bombarded four points in the Barmal district of Paktika province. The total number of dead is 46, most of whom were children and...

Jerusalem, Undefined - The Israeli army said Wednesday it intercepted a ballistic missile fired towards the country from Yemen. Air raid sirens sounded over a wide swathe of central Israel as a precaution against falling debris, but the army said it shot down the projectile before it entered Israeli territory. No...

Paris, France -- Billionaire tech mogul Elon Musk's startup xAI said it had raised $6 billion from investors in its latest funding round, as it battles stiff competition in the artificial intelligence market. The firm, whose flagship product is the Grok chatbot, garnered support from US venture capitalists, chipmakers NVIDIA and...

The move aims to optimize financing costs.

Cairo, Egypt -- The leaders of Turkey and Iran were in Egypt on Thursday for a summit of eight Muslim-majority countries, meeting for the first time since the ouster of Syria's president Bashar al-Assad. Turkey historically backed the opposition to Assad, while Iran supported his rule. The gathering of the D-8...

Istanbul, Turkey -- Turkey's Pegasus Airlines said Thursday it would buy 200 Boeing 737 MAX 10 aircraft in its largest-ever order worth some $36 billion as it seeks to expand its service. "Pegasus has signed an agreement with The Boeing Company for 200 Boeing 737-10 aircraft," the low-cost airline said in...

Riyadh, Saudi Arabia – The number of employees in tourism-related activities in Saudi Arabia increased by 5.1 percent in the second quarter of 2024 compared to the same period in 2023, reaching 959,175, according to the General Authority for Statistics (GASTAT). GASTAT's Tourism Establishments Statistics bulletin for the second quarter...

Paris, France -- World coal use is set to reach an all-time high in 2024, the International Energy Agency said Wednesday, in a year all but certain to be the hottest in recorded history. Despite calls to halt humanity's burning of the filthiest fossil fuel driving climate change, the energy watchdog...

Dubai, UAE -- Coffee aficionados and industry leaders will converge in Dubai this February at World of Coffee (WOC) Dubai 2025 to participate in its first DMCC Specialty Coffee Auction, where some of the globe's rarest and most exquisite coffee beans will be up for bidding. Through a special strategic...

Tripoli, Libya -- A key oil refinery in western Libya suspended operations after armed clashes erupted early on Sunday, causing fires in several storage units, the state petrol company said. Libya's National Oil Corporation (NOC) "declares a force majeure... because several Zawiya refinery storage tanks sustained significant damage from gunfire... that led to...

Washington, United States -- The US Federal Reserve is widely expected to announce a quarter point cut to its key lending rate on Wednesday despite a recent uptick in inflation, in the central bank's last meeting of Joe Biden's presidency. The Fed is also tipped to signal a slower path of...

Damascus, Syria - G7 leaders will meet virtually Friday to discuss the momentous changes underway in Syria, where the interim government has vowed to institute the "rule of law" after years of abuses under ousted president Bashar al-Assad. Assad fled Syria after a lightning offensive spearheaded by the Islamist Hayat Tahrir...

Riyadh, Saudi Arabia -- Fireworks and drones depicting the iconic golden World Cup trophy lit up the sky in Saudi Arabia's capital Wednesday after FIFA confirmed the Gulf kingdom would play host to the tournament in 2034. While the news was hardly a surprise, with Saudi Arabia emerging as the sole...

Ras Al Khaimah: Ras Al Khaimah seeks to welcome 3.5 million tourists annually by 2030, says Raki Philipps, CEO of Ras Al Khaimah Tourism Development Authority. In his address at a recent forum in the northern emirate, Phillips highlighted that tourism is Ras Al Khaimah’s fastest growing sector, contributing 5% to the...

San Francisco, United States -- Google on Wednesday announced the launch of Gemini 2.0, its most advanced artificial intelligence model to date, as the world's tech giants race to take the lead in the fast-developing technology. CEO Sundar Pichai said the new model would be marking what the company calls "a...

Riyadh, Saudi Arabia -- Landmark talks on desertification are set to conclude in Saudi Arabia this week amid doubts that pledged funds will make a meaningful difference in the fight against the growing scourge. The 12-day meeting of parties to the United Nations Convention to Combat Desertification (UNCCD), known as COP16, has...

Geneva, Switzerland -- Air passenger numbers are forecast to top five billion for the first time next year and the sector's revenues will break the trillion-dollar barrier, the global aviation body IATA said Tuesday. "Passenger numbers are expected to reach 5.2 billion in 2025, a 6.7 percent rise compared to 2024...

As the world grapples with uncertainty, the summit offers a much-needed space for cooperation and innovation, led by the Franco-Arab Chamber of Commerce (CCFA).