Riyadh, Saudi Arabia - Saudi Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail said on Monday that the retail sector contributes 23 percent of non-oil GDP of the kingdom, predicting its growth will surpass SR460 billion ($122.6 billion) by the end of 2024.  The minister made these statements...

Lula's remarks on Sunday sparked outcry in Israel after the Brazilian leader said the ongoing conflict in the Gaza Strip "isn't a war, it's a genocide" and compared it to "when Hitler decided to kill the Jews". On Sunday, the head of Yad Vashem, Dani Dayan, said that Lula's remarks...

Riyadh, Saudi Arabia -- Saudi Arabia's open banking market is expected to expand from $7 billion in 2018 to around $43 billion by 2026, said Mohammed El-Kuwaiz, chairman of the Capital Market Authority (CMA) and the Financial Academy (FA) Board of Trustees. El-Kuwaiz announced this at the conclusion of the...

Dubai, UAE -- The United States has proposed a rival draft resolution at the United Nations Security Council, emphasizing its support for a temporary ceasefire in Gaza, Reuters reported. The proposed resolution echoes the language US President Joe Biden's said he used in his recent discussions with Israel's Prime Minister...

TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member states traded over US$5 billion (€4.7 billion) worth of goods in 2023. Trade between Iran and the member states of the European Union recorded a decrease of 9 percent from...

DUBAI, UAE – The airport here has "every chance" of breaking its record for passenger traffic this year after surpassing pre-pandemic levels in 2023, Dubai Airports' CEO told AFP on Monday. Dubai International, the world's busiest airport for international passengers for nearly a decade, hit 87 million visits in 2023, beating...

Riyadh, Saudi Arabia - Saudi Arabia has announced that domestic pilgrims will be eligible for compensation in the event of inadequate accommodation provided by Hajj service companies. According to the Ministry of Hajj and Umrah, pilgrims will receive a 10 percent refund of their package value if there is a...

Doha, Qatar--The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in January amounted to $521 million. The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that (362) real estate transactions were recorded...

London, United Kingdom - "Oppenheimer", Christopher Nolan's epic movie about the creation of the atomic bomb, swept the board at Sunday's BAFTA film awards in London, delivering a serious statement ahead of next month's Oscars. The movie earned seven awards in total, including best film, best director for Nolan, best actor...

Riyadh, Saudi Arabia - The Saudi Stock Market's general index (TASI) surged past the 12,500-point milestone on Sunday, reaching its highest level since August 2020. The increase can be attributed to the positive momentum generated by the disclosure of financial results, the majority of which met anticipated outcomes. The gains...

Makkah, Saudi Arabia -- The Presidency of Religious Affairs at the Grand Mosque and the Prophet's Mosque has deployed AI-operated robots to assist worshippers and visitors at the Grand Mosque in Makkah. The robots provide information and guidance on a variety of topics, including how to perform the Hajj and...

Riyadh, Saudi Arabia-- Saudi Arabia is exploring investment opportunities in education and aiming to attract investments to the kingdom from Canada. In this connection, the Saudi Minister of Education, Yousef bin Abdullah Al-Benyan, along with the accompanying education delegation, visited several educational institutions and universities in Canada, where he met...

Munich, Germany-- The Gulf Cooperation Council (GCC) and Sweden have discussed ways to ramp up cooperation in several areas, besides looking to enhance ties between the GCC and variou European nations. In this regard, Jasem Mohamed Albudaiwi, Secretary-General of the GCC, and Tobias Billström, Minister of Foreign Affairs of the...

BEIRUT, LEBANON - A Lebanese judge has charged four Nissan employees with the theft of documents and devices from the Beirut home and office of the company's former boss Carlos Ghosn, a judicial source said on Saturday. A lawyer for the company told AFP the legal action was "unlawful" and that...

Palestinian Territories - Hamas chief Ismail Haniyeh on Saturday reiterated the group's demand of a complete ceasefire in Gaza, a day after US President Joe Biden called for a "temporary truce" to secure the release of hostages. High-level negotiations to pause the Israel-Hamas war in Gaza were held this week...

Geneva, Switzerland - Israel is waging a concerted campaign aimed at destroying UNRWA, the head of the UN agency for Palestinian refugees said in an interview published on Saturday. Philippe Lazzarini said calls for his resignation were part of the Israeli government's push. "Right now we are dealing with an expanded,...

Jenin, Palestinian Territories - A climate of fear pervades a hospital in the occupied West Bank city of Jenin, where patients and doctors are reeling from last month's deadly raid by Israeli agents disguised as medics. At the rehabilitation ward at Jenin's Ibn Sina hospital, two patients recalled hearing the screams...

Abu Dhabi, UAE - Since its launch in June 2022 through mid-February 2024, the Abu Dhabi Judicial Department's (ADJD) Auction App has generated over AED3.4 billion ($925 million) in sales. In more detail, 333 properties worth AED3,401,835,871 ($926,361,975), have been sold in addition to 1013 vehicles valued at AED78,277,025 ($21,334,933),...

Jeddah, Saudi Arabia - Organized by the Saudi Arabian Cycling Federation under the supervision of the Ministry of Sport, the fourth annual "Extreme E" all-electric sport-utility vehicle (SUV) off-road racing series will kick off Saturday in Jeddah with the participation of eight two-racer teams. The first edition of this global...

Riyadh, Saudi Arabia - Saudi Arabia topped the UN Tourism’s ranking for the growth of international tourist arrivals in 2023 compared to 2019 among large destinations, achieving an increase of 56%, according to the World Tourism Barometer report released last month. The kingdom recorded a remarkable tourism recovery rate of...

"The recognition of a Palestinian state is not a taboo for France," he said at a joint press conference in Paris with Jordan's King Abdullah II. Macron also repeated a warning against Israel attacking the city of Rafah, the southernmost point in the besieged and bombarded Palestinian territory of Gaza.

London, United Kingdom -- The production operations of Zarqa al-Yamamah Opera, the first grand opera to be produced by Saudi Arabia and the world’s largest grand opera in Arabic, were launched at Goldsmiths Hall in London by the Saudi Theater and Performing Arts Commission on Friday. The Zarqa al-Yamamah Opera is...

Kuwait City, Kuwait--Kuwait dissolved parliament on Thursday after a protracted stalemate between cabinet ministers and lawmakers dragged on despite the accession of a new emir in December. The official KUNA news agency said a "royal decree was issued to dissolve the national assembly" elected last June following a proposal by the...

Tehran, Iran – Deputy Prime Minister of Armenia Mher Grigoryan on Thursday said that Iran and Armenia have the potential to increase the volume of their bilateral trade to $3 billion. Grigoryan made the remarks during the 18th meeting of the Iran-Armenia Joint Economic Commission where he also described Iran...

Riyadh, Saudi Arabia - The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah Islamic Port, leading to an increase in its capacity. The completion of work at Jeddah Islamic Port’s North Container Terminal, in cooperation with the Red Sea Gateway Terminal (RSGT) with...

Doha, Qatar - Indian Prime Minister Narendra Modi on Thursday committed to strengthening ties with Qatar during his first visit to the gas-rich Gulf emirate since 2016. During a meeting with Qatar's ruler, Modi gave a "commitment to further expanding and deepening bilateral cooperation with Qatar", a statement from India's foreign...

BEIRUT, LEBANON -  A Hizbollah commander, two other fighters and seven civilians were killed in an Israeli strike in south Lebanon, a security source said Thursday, raising the death toll from a raid a day earlier. The same Hizbollah commander had previously been targeted and wounded in an Israeli strike in...

TUNIS, TUNISIA -  President Kais Saied on Thursday appointed a new governor of the central bank of Tunisia, a north African country in the throes of economic hardship. Saied named Fethi Zouhair Nouri, a 69-year-old member of the central bank's board, to succeed Marouane Abassi, 64, whose six-year mandate ends on...

Doha, Qatar -- UCC Holding, a Qatari company, has signed two energy contracts for seven projects in Kazakhstan. The first contract with QazaqGas comprises two gas treatment plants:1 BCMA Gas Processing Plant Project and 2.5 BCMA and the construction of a New Compressor Station CS-14 and Main Gas Pipeline CS-14...

Jeddah, UAE--The Arab Tourism Organization (ATO) has signed a partnership agreement with the International Strategic Management (ISM) company to achieve growth and innovation within the tourism sector in Arab countries. The agreement comes as an extension of the ATO’s efforts to develop and enhance the tourism industry in the Arab...

Riyadh, Saudi Arabia - Saudi Arabia will establish more smart industrial zones, Minister of Municipal and Rural Affairs and Housing, Majed Al-Hogail revealed at the conclusion of the inaugural Global Smart City Forum 2024 here on Tuesday, highlighting the critical role of smart cities in fostering industrial growth, technological diffusion,...

Riyadh, Saudi Arabia - Saudi Arabia's general budget recorded a deficit of $9.86 billion in the fourth quarter of 2023, the Ministry of Finance reported. The total revenues for the period amounted to $95.45 billion, while total expenses reached about $105.32 billion. This reflects a slight increase in the deficit...

Dubai, UAE-- The UAE's economy has recorded the best growth rates in comparison to other economies in the region, according to Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF). He affirmed the UAE's robust economic performance in recent years, highlighting its...

Riyadh, Saudi Arabia - Saudi Arabia's Ministry of Commerce has announced the provision of online services for foreign companies looking to establish regional headquarters in the country after securing a license from the Ministry of Investment. The services encompass issuing regional headquarters as a branch or as a new foreign...

Dubai, UAE-- As many as 81% of people in the UAE say that they owe it to future generations to make drastic changes to the way they are living, as reported by the What Matters 2024 report from Human8, the human-centric and insight-driven consultancy. More than 4 out of 5...

Riyadh, Saudi Arabia - Saudi Arabia on Tuesday granted approval for the law for the protection of whistleblowers, witnesses, experts, and victims. The milestone law, previously greenlit by the Shoura Council, is designed to safeguard individuals who may face threats for providing information on crimes. The law empowers judicial authorities...

TEHRAN, IRAN - Iran's Islamic Revolutionary Guard Corps (IRGC) said on Tuesday it has launched long-range ballistic missiles from a warship for the first time. The launch from the Shahid Mahdavi during naval maneuvers involved firing two ballistic missiles capable of striking targets up to 1,700 kilometerees (1,050 miles) away. "The...

Without action, "the situation will deteriorate," he warned. "Conflicts are multiplying. The climate crisis is set to spiral, as emissions continue to rise. And acute food insecurity has been increasing year on year."

Dubai, UAE -- American hardwood lumber (sawn timber) shipments to the Middle East and North Africa (MENA) region reached $61.14 million and a volume of 74,791 cubic meters in 2023, according to the American Hardwood Export Council (AHEC). Significant increases were seen in exports of American hardwood lumber to the...

Dubai, UAE -- The OPEC Fund for International Development (OFID) has committed a US$27 billion to support 4,000 development projects in over 125 countries since its inception, said Dr. Abdulhamid Alkhalifa, OFID Director-General. In 2023, funding reached a record $1.7 billion through 55 projects worldwide, bolstering initiatives promoting social and...

The cryptocurrency has enjoyed a strong run-in recent month, fueled by expectations US lawmakers would allow the creation of exchange-traded funds (ETFs) that track the price and let the public invest in crypto without directly purchasing it. The currency remains well below its record value of almost $69,000 in 2020,...

Dubai, UAE--South Korea has pressed for boosting cooperation with the UAE in the field of advanced technology and artificial intelligence (AI) to enable digital government. This was stated by Dr. Koh Jean, Chairman of the Presidential Committee on the Digital Platform Government in the Republic of Korea, on the sidelines...

London, UK - Britain on Monday announced sanctions on four "extremist Israeli settlers" accused of committing human rights abuses against Palestinians in the West Bank, following a similar move by the United States earlier this month. The curbs follow what the UK called "unprecedented levels of violence by extremist settlers in...

RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to expand into other forms of energy, the Gulf country's energy minister said on Monday. Oil giant Aramco announced on January 30 that the energy ministry had ordered it to maintain...

DUBAI, UAE- As Houthi attacks roil the Red Sea and Western air raids target the rebels, moves to end Yemen's long-running war are at a standstill, threatening further woe for a country on its knees. As recently as December, painstaking negotiations were gaining ground and the United Nations said the warring...

Despite maintaining its ties with Israel since the Israel-Hamas war began in October, the UAE has been at pains to express solidarity with Palestinians as anger mounted in the Arab world over the conflict.

The Appeals Court in The Hague sided with a group of human rights organizations that argued the parts contributed to violations of law by Israel in its war with Hamas.

Dubai, UAE - About 63% of respondents in the UAE plan to make EVs their primary mode of transport by 2025, reveals a survey by Al-Futtaim Automotive, a major division of the Al-Futtaim Group and Strategic E-Mobility Partner, The survey indicating a significant shift in UAE residents' perspectives towards electric...

ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in active talks with several nations eager to join the OPEC+ Charter of Cooperation, following the recent accession of Brazil. The names of these countries will be announced after the completion...

Dubai, UAE -- International Monetary Fund (IMF) chief Kristalina Georgieva has forecasted that the total GDP growth for the Middle East region would reach 2.9 percent this year, surpassing the figures from 2023. Speaking on the sidelines of the pre-summit day of WGS 2024's Eighth Arab Fiscal Forum, Georgieva emphasized...