Riyadh, Saudi Arabia – A total of 1,873 complaints were filed by travelers against air carriers in Saudi Arabia last month, according to the Kingdom’s General Authority of Civil Aviation (GACA). The GACA has released its monthly classification index for air transport service providers, based on the number of complaints...

Riyadh, Saudi Arabia - SRMG Ventures, the venture capital arm of the largest integrated media group in the MENA region, has invested $5 million in Anghami, the prominent music and entertainment streaming platform in MENA region.  The music and audio sector in the MENA is projected to reach $700 million...

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) has revealed that its total foreign assets increased to $161.22 billion at the end of June, from $160.70 billion in May. The UAE's current account balances and deposits with banks abroad amounted to $99 billion by the end of...

Manama, Bahrain – This week’s BD 70 million ($185 million) issue of Bahrain Government Treasury Bills has been oversubscribed by 100 percent. The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain, on behalf of the Bahrain government   The issue date of the...

Geneva, Switzerland -- Generative Artificial Intelligence (AI) is more likely to augment than destroy jobs by automating some tasks rather than taking over a role entirely, a new study from the International Labour Organization (ILO) has found. The study, "Generative AI and Jobs: A global analysis of potential effects on...

Riyadh, Saudi Arabia -- A consortium of ACWA Power and subsidiaries of Saudi sovereign wealth fund, Public Investment Fund, and energy giant Aramco, have announced financial close of Al Shuaibah 1 and Al Shuaibah 2 solar PV projects in Makkah. The projects will generate an aggregate capacity of over 2.6GW...

Cairo, Egypt-- Arab Parliament on Monday endorsed the call for victims of terrorism in the Arab world to be supported "financially and economically" to overcome tragedies. The parliament said that those affected by the evil claws of terrorism in the Arab world must be supported to overcome their tragedies. The...

Damascus, Syria - Syria's reentry into the Arab League in May was anticipated to herald positive changes for the country's fortunes. Diplomatic relations warmed, with a normalization agreement signed with Saudi Arabia and a tense, Russia-brokered meeting between Turkish and Syrian foreign ministers. However, despite these diplomatic strides, Syria's economic...

Latakia, Syria--The Emirates Red Crescent (ERC) has inaugurated the Al Naqa housing project in the Latakia Governorate in Syria. The ERC announced in April the construction of 1,000 prefabricated housing units in seven areas in the Latakia Governorate worth $18 million to assist Syrian families affected by the earthquake that...

Riyadh, Saudi Arabia - Saudi authorities have issued a clear warning to businesses operating within the country: settle your outstanding taxes promptly or brace yourself for substantial fines. The call comes from Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA), which has taken a strong stance on enforcing tax compliance....

RIYADH, SAUDI ARABIA -  The National Development Fund (NDF) on Sunday said it will contribute US$453 million (SAR1.7 billion) to the US$2.2 billion (SAR8.3 billion), 2.6 GW Al Shuaibah solar project that is to be carried out by the National Infrastructure Fund (under establishment). This is one of the world’s...

Tokyo, Japan -- Japan is preparing to hold a foreign ministers' meeting with the six member states of the Gulf Cooperation Council in Saudi Arabia in early September, a report said. Japan's Kyodo News said the meeting comes as Japan aims to strengthen relations with oil-producing countries in the Middle...

Dubai, UAE -- The Arab Brazilian Chamber of Commerce (ABCC) recorded a surge of 8 percent in Brazilian exports to the Arab world during the first seven months of 2023, totaling to $10.61 billion, compared to $9.825 billion in the same period in 2022. Brazilian exports to the the kingdom...

BUDAPEST, HUNGARY – Hungarian Prime Minister Viktor Orban said that companies from his country plan to expand their activities in Russia despite sanctions and political difficulties. Orban made the statement at a meeting with the head of Russia’s Tatarstan region Rustam Minnikhanov in Budapest, TASS news agency reported. "It has...

On a riverbank in war-ravaged Syria's north, felling has reduced what was once a lush forest to dispersed trees and decimated trunks poking out from dry, crumbly soil. Syria's war has devastated the environment, triggering an "alarming" loss of forest cover across the country, Dutch peacebuilding group PAX warned in...

Astana, Kazakhstan-- Saudi Arabia and Kazakhstan have pledged to strengthen cooperation in the fields environment, water, and agriculture. The strengthening of ties in these sectors came up in a meeting between President of Kazakhstan Kassym-Jomart Tokayev and Saudi Arabia's Minister of Environment, Water and Agriculture Abdulrahman bin Abdulmohsen Al-Fadhli. Both...

GANDHINAGAR, INDIA - Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini and Assistant Minister of Foreign Affairs for Health Dr. Maha Barakat led the UAE’s delegation in the G20 Joint Health-Finance Ministers Meeting (JHFMM). The meeting discussed the progress made by the Joint Finance and Health Task...

RAMALLAH, PALESTINIAN TERRITORIES - Two Israeli civilians were killed in a suspected shooting attack in the occupied West Bank on Saturday, the army said. "A suspected shooting attack was carried out at a number of Israeli civilians in the area of the town of Huwara," an army statement said, adding that two...

ISTANBUL, TURKEY - Turkey's ruling party spokesman on Saturday criticized UN peacekeepers for blocking the construction of a controversial road in the buffer zone dividing Cyprus, calling their attitude "unacceptable" and "extremely wrong". A confrontation occurred on Friday between Turkish Cypriot forces and UN peacekeepers in Pyla, an ethnically mixed village...

GANDHINAGAR, INDIA - The World Health Organization (WHO) and the G20 India presidency announced a new Global Initiative on Digital Health (GIDH) on Saturday at the Health Minister’s Meeting of the G20 Summit hosted by the Government of India. The new GIDH initiative will operate as a WHO-managed network and...

TEHRAN, IRAN - Iranian President Ebrahim Raisi has met with diplomat Assadollah Assadi, recently freed by Belgium in a high-profile prisoner swap case in May, the presidency site said on Saturday. "The claimants of human rights have shown once again that they do not adhere to any law," Raisi said in...

Dubai, UAE - Dubai's real estate market continues its upward trajectory, with house prices rising by 4.8% in Q2 2023, marking the 10th consecutive quarter of growth, according to a report by global property consultant Knight Frank. This growth trend has led to an average increase of 24% in residential...

Dubai, UAE--Oil prices jumped about 1% on Friday on signs of slowing U.S. output, but both crude benchmarks also ended their longest weekly rally of 2023 on mounting concerns about global demand growth. West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.1%, to settle at $81.25 a barrel,...

Riyadh, Saudi Arabia--Neymar was greeted with much fanfare Friday as he arrived in Saudi Arabia where he joins a growing list of big names lured to the oil-rich kingdom. The 31-year-old Brazil forward who will be unveiled as an Al-Hilal player on Saturday after six seasons with French champions Paris Saint-Germain...

Riyadh, Saudi Arabia - India and Saudi Arabia are in discussions regarding a state visit by Crown Prince Mohammed bin Salman to India, Indian television channel Timesnow reported on Friday.  The discussions are said to be centered around the Crown Prince's visit after the G20 summit on September 9-10 which...

Riyadh, Saudi Arabia - Saudi Arabia and India signed on Friday an agreement on digitization and electronic manufacturing. The agreement seeks to enhance Saudi-Indian cooperation in the fields of digital infrastructure, e-health, and e-learning, and to strengthen their partnership in digital research and innovation and the use of emerging technologies....

Dubai, UAE -- Real estate transactions valued at more than AED 10.4 billion ($2.83 billion) were recorded in Dubai during the week ending 18 Aug 2023. Of the total 3,571 transactions,120 plots were that sold for AED1.2 billion and 2,782 apartments and villas were that went for AED6.86 billion. The...

TEHRAN, IRAN – Iran is the first Islamic country to possess a very modern observatory, the head of the Institute for Research in Fundamental Sciences Mohammad Javad Larijani said. “We started the construction process (of the observatory) concurrent with Turkey (starting its own); they had the resources, like the cash, so they...

BEIJING, CHINA - Between January and July 2023, Chinese enterprises made non-financial direct investments totaling US$13.69 billion (RMB95.34 billion) in Belt and Road countries, demonstrating a surge of 23.2 percent compared to the previous year. This growth amounts to approximately US$13.69 billion (a year-on-year increase of 15.3 percent), constituting nearly...

Turkey’s top diplomat Hakan Fidan is planning to discuss the results of these discussions with Russian Foreign Minister Sergey Lavrov and his Ukrainian counterpart Dmitry Kuleba, Turkish media reported. Officials say a stalemate could lead to an escalation of food crisis and possible military tensions.

Moscow, Russia - Russian President Vladimir Putin discussed Thursday, in a phone call with his Iranian counterpart Ebrahim Raisi, the possibility of Iran joining the BRICS group in the future and issues of expanding cooperation in international and regional affairs. The talks also included Iran's participation as a full member...

Riyadh, Saudi Arabia - After being banned in several Arab countries, blockbuster film Barbie in Saudi Arabia is drawing huge crowds. The unexpected success of the film Barbie in Saudi Arabia has become a symbol of the dramatic societal changes taking place in the Middle East. Despite calls for its...

Tunis, Tunisia - Tunisian authorities have arrested the head of the national bakery owners' union, accusing him of a "monopoly" as the country faces a weeks-long shortage of subsidized bread, local media reported Thursday. The government in August banned some 1,500 privately-owned bakeries that produce European-style breads and pastries from purchasing...

Dubai, UAE -- Dubai's real estate market recorded deals worth AED 2.4 billion ($653 million) on Thursday, according to Dubai Land Department. The deals included 591 sales transactions worth AED1.76 billion on Thursday, in addition to 125 mortgage deals totaling AED613.72 million, and 36 gift deals amounting to AED98.44 million....

Abu Dhabi, UAE -- Following the success of the Falcon Auction in the last edition of Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX) in 2022, the Emirates Falconers' Club is preparing a special auction this year from 2-8 Sept. 2023. The previous edition witnessed the purchase of the most...

Doha, Qatar - Ooredoo Group has announced new partnerships with Tech Mahindra and Google Cloud that will see the company accelerate its digital transformation in six operating companies across its global footprint. Powered by Google Clouds API Management Platform (Apigee), with Tech Mahindra as implementation partner, Ooredoo's IT operations will...

Abu Dhabi, UAE - ADNOC Gas, an integrated gas processing company, on Thursday announced a five-year liquefied natural gas (LNG) supply agreement with Japan Petroleum Exploration Company (JAPEX), a Japan-based energy company. The agreement, valued between $450 million (AED1.65 billion) and $550 million (AED2 billion), builds on the long-standing bilateral...

Aden, Yemen--Yemeni Prime Minister Maeen Abdulmalik affirmed that the economic support Saudi Arabia provides to Yemen represents a vital factor for achieving progress in various service and development sectors. During a cabinet meeting today in Aden, Abdulmalik pointed out that the kingdom's economic support backs the efforts of the Yemeni...

Beijing, China - Saudi Arabian and Chinese companies and banks on Wednesday signed 12 agreements involving an investment exceeding $1.33 billion (SAR 5 billion). The agreements covered infrastructure development, financing, with five of them related to housing projects. The agreements were signed at the Saudi-Chinese Business Forum being held in...

Dubai, UAE-- The UAE's General Sports Authority (GSA) and the International Skating Union (ISU) and International Ice Hockey Federation (IIHF) have discussed opportunities for cooperation and partnership to boost winter sports, such as skating and ice hockey in the UAE. In this regard, Sheikh Suhail bin Butti Al Maktoum, Executive...

Dubai, UAE -- Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), reported 9.6 percent growth in its US equity holdings to US$38.9 billion in Q2, with electric vehicle manufacturer Lucid contributing just 16 percent of the increase despite representing 24 percent of the portfolio. Lucid continued to drag down the fund’s US public holdings with...

MOSCOW, RUSSIA - The 11th Moscow Conference on International Security, held at the Patriot Congress and Exhibition Center here, saw high-level discussions between Russian Deputy Defense Minister Alexander Fomin and military representatives from Saudi Arabia and Iran. In a meeting with Talal Abdullah Al-Otaibi, military adviser to the Saudi defense...

Manama, Bahrain - Tamkeen, a semi-autonomous government agency, tasked with developing Bahrain's private sector has decided to support the Bahrain-based business-to-business (B2B) tendering platform, Procural, as part of its effort to create new jobs for Bahrainis. The support will enable Procural to enhance its ability to use cloud-based technology and...

Riyadh, Saudi Arabia - Saudi Arabia boasts the world's largest Islamic finance market, with combined Islamic assets across various sectors surpassing $826.6 billion (SAR 3.1 trillion), Ayman Al-Sayari, the Governor of the Saudi Central Bank (SAMA) and Chairman of the IFSB's Council said in his opening address at the 20th...

Zurich, Switzerland – The latest Global Wealth Report predicts global wealth to reach $629 trillion by 2027, despite 2022 being the first year of wealth decline since 2008, the fourteenth edition of the Global Wealth Report jointly launched on Tuesday by Credit Suisse and UBS revealed. According to the report’s...

Jerusalem--The European Union has disbursed $24 million for the payment of social allowances to 71,162 vulnerable Palestinian families through the National Cash Transfer Program. The European Union for the past 17 years has been a steadfast supporter of the Palestinian Authority's (PA) Ministry of Social Development (MoSD), collaborating to ensure...

The number of new industrial Rowad permits issued in Abu Dhabi increased from 204 to 238 from July 2022 to June 2023, a 16.6 percent rise. 116 new Rowad industrial licenses were issued during H1 2023 alone, an increase of 63.3 percent from the number issued in H1 2022. $15.36...

Paris, France - Brazil forward Neymar has signed for Saudi Arabia's Al-Hilal from Paris Saint-Germain, the clubs announced on Tuesday, joining Cristiano Ronaldo and Karim Benzema as the latest big name lured to the Kingdom. "I am here in Saudi Arabia, I am Hilali," Neymar said in a video posted to...

Amman -- Jordan's Minister of Health, Firas Hawari, met with the head and members of the Committee on Combating Drugs and Psychotropic Substances in the Iraqi Parliament on Tuesday to discuss prospects for cooperation in training health staff on the treatment of drug addiction. During the meeting at the ministry,...

Riyadh, Saudi Arabia -- The Saudi Ports Authority (Mawani) has added 20 cargo services to the ports of Jeddah, Dammam, and Jubail during the first half of 2023, a development that inspired the Kingdom’s latest score of 76.16 points in the Q2 2023 update of the UNCTAD’s Liner Shipping Connectivity...