Riyadh, Saudi Arabia - Muslim global high net worth individuals (HNWI) are prepared to spend US$ 1.96 billion on real estate in Makkah and Madinah, according to global property consultancy Knight Frank’s inaugural Destination Saudi report Knight Frank surveyed 506 Muslim global HNWI from nine countries to understand their attitudes,...

Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of more than 3% during 2025-2028, according to a report released by GlobalData, a data analytics and consulting company, headquartered in London. The growth is attributed to the increase in investments...

WASHINGTON, US – Four astronauts left the International Space Station on Monday and were bound for Earth following a more than six month mission. Led by American astronaut Jasmin Moghbeli, NASA's Crew-7 arrived at the research platform last August aboard a SpaceX Crew Dragon. The same spacecraft undocked on Monday morning,...

Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF) rose to the fifth position among the world’s largest sovereign wealth funds (SWFs), after its net assets rose to $940.26 billion. PIF's assets rose by $163.6 billion, compared to $776.7 billion at the end of December 2023, according to the...

Dubai, UAE -- A total of 2,692 new companies joined Dubai Multi Commodities Centre (DMCC) last year, bringing the total number of companies in DMCC to over 24,000. In its 2023 Annual Report, DMCC said 2023 was its second-best year on record as companies continue to flock to its business...

Madinah, Saudi Arabia -- The United Nations Human Settlements Programme (UN-Habitat) has recognized Madinah for attaining Gold Level in the SDG Cities Global Initiative, becoming the first Saudi and Arab city, and the third internationally, to receive this recognition of achievement. Al-Madinah Region Development Authority said that the city was...

Dubai, UAE - The UAE's online shopping market is gearing up for unprecedented growth, with revenue projections hitting $9 billion by the end of 2024 and an impressive $17 billion forecasted for 2025. The trajectory is emblematic of the broader Middle East and North Africa (MENA) region's e-commerce landscape, poised...

Doha, Qatar - Residential demand continued to buoy the country's property sector in Q4 2023, hapondo, a homegrown property portal, revealed in its Qatar's Property Report.  The report pointed out that despite a decrease in real estate transaction volume to QAR 16.7 billion ($4.6 billion) from QAR 21.2 billion ($5.82...

Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues to deepen the cooperation between the two countries. In this connection, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President, held several bilateral meetings...

Hollywood, United States - It is, in the words of its director, the story of the most important person who ever lived. And on Sunday, "Oppenheimer" completed its indomitable march towards Hollywood's most important prize, winning the Academy Award for best picture. Christopher Nolan's masterpiece -- the story of the brilliant...

Riyadh, Saudi Arabia - The Saudi Air Connectivity Program (ACP) and China Eastern Airlines have entered into a strategic partnership to launch a new air route in an effort to enhance air connectivity between the two countries. Beginning on April 8, China Eastern Airlines will introduce three weekly flights directly...

TEHRAN, IRAN – The Ministry of Industry, Mine, and Trade said that Iran exported fisheries, livestock, agricultural and food products worth US$5.5 billion to over 130 countries during the first eleven months of the year. Rouhollah Latifi, the spokesperson for the Trade Development Commission at the Iranian Ministry of Industry,...

Riyadh, Saudi Arabia -- Saudi Arabia Railways (SAR) has signed a contract with the sea shipping company Maersk to increase the number of containers transported on SAR trains between King Abdulaziz Port in Dammam and Riyadh Dry Port. SAR CEO Bashar Khalid Al-Malik and Maersk Saudi Arabia CEO Mohammad Shihab...

RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that it has adopted the chain-linking methodology to calculate the real GDP in the country. The Q4 2023 results and the annual results for the same year have been reached at...

NEW YORK, US – Bitcoin has captured the limelight in recent weeks as it surged to a new record high, yet another major cryptocurrency, Ether, has been enjoying its own meteoric rise. Launched in 2015, Ether, also known as Ethereum, is by far the second-largest digital currency in terms of total...

Riyadh, Saudi Arabia -- Saudi Arabia’s Industrial Production Index (IPI) continued to decline for the 13th month in a row, falling 8.8 percent in January compared to Jan 2022, on the decrease in mining and quarrying activity. Given the relative importance of mining and quarrying activity, which amounted to 61.4...

Sharjah, UAE -- Sharjah witnessed real estate deals worth AED 3.1 billion ($844 million) in February 2023, according to the Real Estate Transactions and Mortgages Movement report issued by the Sharjah Real Estate Registration Department. The report said the results indicate that the real estate sector in Sharjah continues to...

Beijing, China-- A greener globe requires a greener energy industry, which could definitely be represented by new quality productive forces such as green hydrogen, according to Baoshen Zhong, Chairman of LONGi Green Energy. China Economic Net quoted Zhong as saying, during the 2024 Two Sessions, that “Renewable energy, mainly photovoltaic...

London, UK - Thousands of protesters marched in central London on Saturday to call for a ceasefire in Gaza amid ongoing bombardments by Israel after the Hamas attack on its territory on October 7. Regular marches protesting Israel's military response to the attacks have seen dozens arrested for anti-Semitic chanting and...

Ankara, Turkey - Turkish President Recep Tayyip Erdogan said on Saturday Ankara "firmly backs" Palestinian group Hamas. "No-one can make us qualify Hamas as a terrorist organization," he said in a speech in Istanbul. "Turkey is a country that speaks openly with Hamas leaders and firmly backs them." Erdogan has been...

Geneva, Switzerland - The war in Gaza has "ruptured any sense of a shared humanity," the head of the International Committee of the Red Cross said on Saturday. ICRC head Mirjana Spoljaric called for an urgent ceasefire in Gaza, saying Israel and Hamas must respect international law and protect civilians caught...

TEHRAN, IRAN – Tehran on Saturday strongly condemned a UN report on the Islamic republic's response to mass protests in 2022, denouncing Western countries' "Iranophobia". The report was built on "baseless claims" and "false and biased information, without a legal basis", foreign affairs ministry spokesman Nasser Kanani said in a statement. International experts...

Tunisians usually prepare for Ramadan -- when daytime fasting is followed by festive but often costly meals with family and friends -- by stocking up on large amounts of food. But this year things are different, with purchasing power greatly diminished because of soaring prices, a recession and rising unemployment.

Doha, Qatar - Doha Bank has successfully issued $500 million in international bonds, garnering a total order book of $2 billion, marking an oversubscription of 4 times. The investor base includes prominent asset managers, banks, private banks, and insurance companies from the United States, Europe, Asia, and the Middle East....

Abu Dhabi, UAE - The UAE has been elected the Vice Chair of the UNESCO's Intergovernmental Committee (IGC) for the Protection and Promotion of the Diversity of Cultural Expressions for 2025. The appointment acknowledges the UAE’s contributions to cultural diversity and its role in fostering a multicultural and civilized tapestry...

Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources has unveiled plans to broaden the range of customs duty exemptions for various industrial products and materials starting April 1. Industrial companies holding a valid license from the ministry will benefit from duty exemptions on specific items essential...

NATO member Turkey has sought to maintain good relations with Moscow and Kyiv throughout the two-year war, with Erdogan pitching himself as a key go-between and possible peace-maker.

Other parts of the Islamic world may be grappling with their own challenges, from conflicts to high inflation. But many Muslims say their thoughts are with Palestinians this year.

Abu Dhabi, UAE – Sanadak, UAE's and MENA region's first legally established independent Ombudsman Unit catering to consumers of financial institutions and licensed insurance companies, started its operations Thursday. Sanadak's focus is on safeguarding consumers rights and resolving complaints that arise from dealings with financial institutions and licensed insurance companies....

Riyadh, Saudi Arabia -- A total of $13.4 billion in investments were announced during the third edition of the International Tech Conference LEAP, the biggest global tech event in terms of turnout, which has concluded in Riyadh on Thursday. LEAP conference organized by the Ministry of Communications and Information Technology,...

Madrid, Spain--Spain said Thursday it would give an additional $21.87 million to the UN Palestinian refugee agency UNRWA, which is facing a cash crunch after several nations suspended their funding. The agency has been at the centre of controversy since Israel accused about a dozen of its employees of involvement in...

Jeddah, Saudi Arabia - The Jeddah Historic District Program has announced the discovery of the two ebony wood poles at  the historic site of Othman bin Affan Mosque, dating back over 1200 years to the first and second centuries AH (7th and 8th centuries AD). They have been identified as...

Abu Dhabi, UAE--The UAE Ministry of Defence and Masdar have signed an agreement to develop multi-solar plants across Abu Dhabi. Emerge, a joint venture between the UAE’s Masdar and France’s EDF Group, will provide a full turnkey solution for the projects, including finance, design, procurement, construction, operations, and maintenance for...

Jeddah, Saudi Arabia - Jeddah is poised to host Alicia Keys, the legendary musician, singer, and multiple Grammy-award winner, at the Jeddah Corniche Circuit Main Stage on March 9. This performance is set to be a highlight of the Formula 1 STC Saudi Arabian Grand Prix 2024 festivities. Alicia Keys...

Rome, Italy - The UN's food agency on Thursday said it was pressing Israel to allow it to use the Ashdod port north of Gaza to make it easier to reach starving Palestinians. "We have several requests with the Israelis," World Food Program (WFP) Deputy Executive Director Carl Skau told AFP in...

Palestinian Territories - Gaza's Hamas-run government media office said on Thursday that Israel had returned dozens of bodies that had been exhumed from graves in the besieged territory in recent weeks. Israeli forces have on several occasions taken bodies from Gaza to Israel for examinations as they look for hostages seized...

Tibetan activists are keenly aware that his death will mark a major setback in his push for more autonomy for the Himalayan region. It would deprive the cause of a Nobel Prize winner whose moral teachings and idiosyncratic humour have made him one of the world's most popular religious leaders.

Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing for what organizers are terming as "record-breaking" final day with more announcement of investments expected to be made on the occasion. Abdullah Al-Swaha, Saudi minister of communications and information technology,...

The Houthi rebels have been defiantly hitting ships in vital commercial waters in professed solidarity with the Palestinians as Israel pounds Hamas-ruled Gaza in response to the October 7 attack. Asked if the latest attack showed a failure of the US and UK strikes on the Houthis, Miller said, "We...

Riyadh, Saudi Arabia - Saudi Arabia unveiled its first male humanoid robot ‘Muhammad’ during the second edition of DeepFast in Riyadh which kicked off at the Riyadh Exhibition and Convention Centre in Malham on Monday. A 7-second video of the robot is now viral. In it, the reporter Rawya Kassem,...

Dubai, UAE - The Mohammed Bin Rashid Space Centre (MBRSC) on Tuesday announced the graduation of Emirati astronauts Nora AlMatrooshi and Mohammad AlMulla from the 2021 NASA Astronaut Candidate Class training program in a ceremony held at the Johnson Space Center in Houston, USA.  The milestone marks the culmination of...

Dubai, UAE--Dubai Chambers has signed a memorandum of understanding (MoU) with DP World to enable the chambers to leverage DP World’s global network to establish and host international representative offices at the group’s facilities around the world. The partnership aligns with the goals of the Dubai Global initiative launched by...

Riyadh, Saudi Arabia -- After announcing a staggering US$11.9 billion of investments on Monday, LEAP 2024, the world's most attended technology exhibition, unveiled another raft of investments totaling over US$888 million on Wednesday. The investments at LEAP 2024, which runs until March 7 at Riyadh Exhibition and Convention Centre in...

Moscow, Russia – BRICS will work to create an independent payment system based on digital currencies and blockchain, Kremlin aide Yury Ushakov said on Tuesday. "We believe that creating an independent BRICS payment system is an important goal for the future, which would be based on state-of-the-art tools such as...

Doha, Qatar--Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani has called for strengthening joint action among the Arab Gulf states, especially in light of the economic and financial challenges that the world is experiencing in relation with growth, sustainable development, financial stability, and interest rate policies,...

White Sands, United States - Wesley Burris was fast asleep in bed when the world's first atomic bomb exploded just 25 miles from his front door. A blinding light filled the home in the New Mexico desert, before the impossible force of the blast shattered its windows, spraying glass across the...

Jeddah, Saudi Arabia — Saudi Minister of Foreign Affairs Prince Faisal bin Farhan has emphasized the unanimous rejection of the displacement of Palestinians from the Gaza Strip by the Islamic countries. During his presidential address at the Extraordinary Session of the Council of Foreign Ministers of the Organization of Islamic...

GENEVA, SWITZERLAND – Scientists will work to channel the huge emerging power of quantum computers for the common good at a new institute opening in Geneva on Tuesday, its founders said. The Open Quantum Institute is calling on researchers from around the world to pinpoint the most promising future applications for...

Riyadh, Saudi Arabia -- The Public Investment Fund (PIF) and Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, Tuesday signed a memorandum of understanding (MoU) to expand cooperation and enable investment opportunities in Bahrain, PIF said. PIF said in a statement that the MoU provides multiple...

Dubai, UAE - The UAE’s foodservice market is poised to reach $19.98 billion in 2024, with further projections indicating a substantial growth trajectory, a whitepaper released by real estate services firm JLL has revealed.  The whitepaper highlights the unprecedented growth opportunities within the UAE's Food and Beverage (F&B) industry.  The report...