Dubai, UAE--Dubai Taxi Corporation (DTC) has launched its strategic plan for digital transformation 2022-2025 designed to improve the quality of the service it provides to customers. The plan seeks to accomplish a host of strategic goals highlighted by digital mobility, excellent operation, financial sustainability, people’s happiness, and shaping the future....

Washington, United States - Russia's withdrawal from the Black Sea Grain Initiative (BSGI) has led to a surge in global food prices by 10-15 percent, impacting everyone, including African nations, said US Secretary of State Antony Blinken during an interview with Al Jazeera.  The initiative was primarily established due to...

Dubai, UAE - The Dubai Chamber of Commerce reported a 43 percent increase in new member companies, reaching a total of 30,146 in the first half of 2023, up from 21,098 in the first half of 2022. The total value of exports and re-exports from member companies also saw a...

Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund, Monday announced the establishment of the Kayanee Company, a unique lifestyle integrated concept designed to inspire and enhance women’s well-being in Saudi Arabia. Kayanee will focus on women’s health and lifestyle of future generations through six offerings,...

Jeddah, Saudi Arabia -- The Saudi Geological Survey (SGS) and the Argentine Mining Geological Service (SEGEMAR) have signed a Memorandum of Understanding (MoU) to foster scientific and geological cooperation. The agreement was signed by SGS CEO Abdullah bin Muftar Al-Shamrani and SEGEMAR Executive Secretary Silvia Chavez, in the presence of...

Doha, Qatar -- Non-energy private sector companies recorded the second highest growth in 2023 so far, according to the latest Purchasing Managers' Index (PMI) data that indicated a positive start for the second half of 2023. Growth rates for output, new orders, employment and purchasing increased, and the 12-month outlook...

Muscat, Oman-- Oman's total domestic production of natural gas shot up 2.3 percent to 26.19 billion cubic meters (CBM) until the end of June 2023, as compared to the same period in 2022, when the total amounted to 25.60 billion cubic meters. Statistics issued by the National Center for Statistics...

Riyadh, Saudi Arabia-- Looking to boost leisure, business and religious travel to the kingdom, Saudi Arabia will grant visitor e-visa to travelers from eight newly-eligible countries: Albania, Azerbaijan, Georgia, Kyrgyzstan, Maldives, South Africa, Tajikistan, and Uzbekistan. Nationals of these countries can apply for a Saudi visitor visa ahead of their...

TEHRAN, IRAN - Iran on Sunday appointed Mohammed Jafar Montazeri, who is under US and British sanctions, to head the Islamic republic's top court. Montazeri was named the supreme court chief after the "opinions of all the court judges" were taken into consideration, the judiciary's Mizan Online website said. The 75-year-old,...

Dubai, UAE -- The United Arab Emirates Sunday launched Ministry of Finance's Strategic Plan 2023-26 aimed at accelerating government performance through financial empowerment, sustainability, innovation and future foresight, financial leadership and sustainable development. Deputy Ruler of Dubai and Minister of Finance Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, who...

Riyadh, Saudi Arabia -- Most of Saudi Arabia's real estate market sectors recorded growth in the second quarter of 2023, with Grade A office rents in the capital Riyadh growing by 12.2 percent and Grade B rents rising by 14.4 percent year-on-year. Average occupancy for both segments in the capital...

Abu Dhabi, UAE - The UAE has unveiled a series of relief measures to support the growth and prosperity of small and medium-sized enterprises (SMEs) since the introduction of corporation tax in the UAE.  "It's important for SMEs to familiarize themselves with the intricacies of corporate tax regulations and integrate...

Riyadh, Saudi Arabia-- Saudi Arabia has signed a $77 million loan agreement with Belize to set up a solar power plant in the Central American country. In this connection, the CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, today signed a loan agreement with the Prime...

Tokyo, Japan--Japan's crude oil imports from the United Arab Emirates amounted to 25.63 million barrels in June 2023, or 37.4 percent of total imports, the Natural Resources and Energy Agency of Japan's Ministry of Economy, Trade and Industry said. During June, Japan's total crude oil imports were 68.5 million barrels,...

El Alamein, Egypt - The UAE President Sheikh Mohamed bin Zayed Al Nahyan held talks with his Egyptian counterpart, President Abdel Fattah El Sisi, during an official visit to Egypt.  The discussions revolved around strengthening the longstanding ties between the two nations. The meeting, held in the Egyptian city of...

BEIRUT, LEBANON - A Lebanese minister on Saturday sought to clarify comments condemned by Kuwait over aid money to rebuild Beirut's grain silos that were destroyed in a devastating port blast three years ago. The oil-rich Gulf state in 2020 said it was ready to rebuild the storehouses, which Lebanon had...

ABU DHABI, UAE - Key UAE government entities have partnered to boost coordination between advanced technology and space sectors. The collaboration is aimed at harnessing emerging technological innovations and developments to tackle global climate change.   The Ministry of Industry and Advanced Technology (MoIAT), UAE Space Agency, and COP28, through...

NEW YORK, US - Two senior UN humanitarian officials have called for more funding and fewer bureaucratic impediments to support civilians affected by the crisis in Sudan, including roughly 14 million children. Ted Chaiban, Deputy Executive Director for Humanitarian Action and Supply Operations at the UN children’s agency (UNICEF), and...

Ankara, Turkiye - Turkish President Recep Tayyip Erdogan on Friday announced that his Russian counterpart Vladimir Putin would visit Ankara during August, adding that the date has not yet been set. "The date is not clear, but the foreign minister, head of the intelligence organization, they are all holding talks,"...

New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement for India’s foreign and trade policy,” India's Minister of State for External Affairs, Dr. Rajkumar Ranjan Singh, told Lok Sabha, the lower House of India’s Parliament yesterday. He was answering...

Dubai, UAE - The highly anticipated 'Barbie' movie is all set to grace the big screens in the UAE on August 10, two weeks ahead of the originally expected release date.  Local theaters, including VOX Cinemas, Reel Cinemas, and Roxy Cinemas, have already opened pre-orders for eager viewers.  Online bookings...

Manama, Bahrain-- Looking to develop the e-commerce sector in the kingdom, Bahrain's Ministry of Industry and Commerce has published a survey to evaluate consumer satisfaction in the e-commerce sector in response to the growing volume of e-commerce transactions. These efforts come from the Information Systems Directorate and the Consumer Protection...

Makkah, Saudi Arabia - A scientific forum organized by Arab and Islamic universities’ associations has recommended the formation of a working group of scholars and researchers to become envoys for the Muslim World League’s (MWL) initiative, "Building Bridges Between East and West.” The forum, titled “The role of media in...

Abu Dhabi, UAE-- In 2022, Emiratis represented 74% of the Federal Authority for Nuclear Regulation (FANR) 248 employees. FANR continues to attract talented Emiratis to meet its business needs, recruiting an additional 22 Emiratis during the review period, according to FANR 2022 Annual Report. It provides long-term career opportunities for...

Riyadh, Saudi Arabia -- Capital market institutions authorized by Saudi Arabia's Capital Market Authority posted a record 29.8 percent increase in net income to SAR 6.1 billion at the end of 2022, compared to 2021. Bander Sulaiman Alayed, the Deputy of Market Institutions, said the retained profits in capital market...

Cairo, Egypt – In a surprising move, the Central Bank of Egypt (CBE) announced on Thursday that it has raised interest rates by 100 basis points to contain the rising inflationary pressures. The lending rate was increased to 20.25 percent, and the deposit rate to 19.25 percent, while the credit...

Abu Dhabi, UAE - Abu Dhabi International Airport (ADIA) registers an increase of 67 percent in passenger traffic with 10,258,653 passengers passing through the airport between January 1 and June 30, 2023, compared to 6,158,376 passengers during the same period last year.  The airport also recorded 67,835 flights, a rise...

BEIRUT, LEBANON - Lebanon on Thursday handed over to Italian authorities an alleged member of Italy's notorious 'Ndrangheta mafia wanted for involvement in the international drug trade, a judicial official said. Lebanese authorities "handed over Bartolo Bruzzaniti, 48 ... to an Italian security delegation which put him on a private plane...

Cinemas were forced to close in the late 1980s during the first Palestinian uprising, or intifada. They reopened following the establishment of the Palestinian Authority in the 1990s but for years have largely been gathering dust.

RIYADH, SAUDI ARABIA - Saudi Arabia posted a budget deficit of SAR5.3 billion ($1.41 billion) in the second quarter of 2023, the finance ministry said on Thursday. Saudi Arabia, the world's top oil exporter, recorded a budget surplus of almost $30 billion in 2022 as the high prices of the...

Riyadh, Saudi Arabia -- Saudi Arabia will extend the voluntary 1 million barrels per day cut, announced in July, to the month of September, with the possibility of further extension. Saudi Press Agency, quoting an official source from the Kingdom's Ministry of Energy, said the country's production for the month...

Sao Paulo, Brazil - Saudi Arabia's Saline Water Conversion Corporation (SWCC) has signed a memorandum of understanding (MoU) with the Brazilian company WEG - specializing in electrical engineering, energy, and automation - to strengthen strategic cooperation in water desalination and its technologies. The agreement provides opportunities for localization and content...

Dubai, UAE--Trade in goods and services amounted to US$ 31 trillion in 2022, a 13% rise year-on-year. According to the World Trade Statistical Review 2023, issued by the World Trade Organization, while trade in goods exceeded pre-pandemic levels already in 2021, trade in services caught up in 2022. China remained...

Brussels, Belgium - Europe's liquefied natural gas (LNG) imports fell to the lowest level since the start of the Russian military operations in Ukraine after a drop in prices reduced the regions appeal. LNG deliveries fell 7% in July from a year earlier to 8.6 million tons, the least since...

LONDON —Strategically important power and water projects controlled by GCC governments or government-related entities (GRE), are benefitting from the support and lower risks, according to the latest report by Fitch Ratings. GCC governments typically play multiple roles in power and water desalination projects, often controlling project companies with minority stakes...

Kuwait City, Kuwait -- As the blazing summer sun beats down on Kuwait, shoppers stroll down a promenade lined with palm trees and European-style boutiques, all without breaking a sweat. In one of the world's hottest desert countries, it's all made possible by architecture and technology: the entire street is located...

Abu Dhabi, UAE - ADQ and IHC Capital Holding are joining forces to bring together ADQ's ownership of Abu Dhabi National Exhibitions Company (ADNEC) and its stake in Modon Properties, along with IHC Capital's share in Modon to form a new entity called Q Holding.  The proposed transaction would create...

Dubai, UAE - Vox Cinemas, the prominent Middle East exhibitor partnering with Warner Bros. for distribution, has decided to postpone the Middle East release of the popular Greta Gerwig film to August 31.  Initially slated for a July 19 release – just two days before its US debut – the...

Amman, Jordan-- Jordan and Cyprus are looking to boost cooperation in energy, trade, industry and tourism sectors in order to deepen the overall partnership between the two countries. In this regard, King Abdullah and Cyprus President Nikos Christodoulides met on Tuesday at Al Husseiniya Palace, and discussed enhancing cooperation in...

Abu Dhabi, UAE - ADNOC and Occidental on Tuesday signed a strategic collaboration agreement (SCA) to evaluate potential investment opportunities in carbon dioxide (CO2) capture and storage (CCS) hubs in the United Arab Emirates (UAE) and United States (US), with a view to developing a carbon management platform to accelerate...

SAO PAULO, BRAZIL - The Ministry of Investment organized here the Brazilian-Saudi Investment Forum, which saw the signing of many memoranda of understanding (MoUs) in various fields. The 25 MoUs covered petrochemicals, healthcare, defense, food, real estate, tourism, water desalination and treatment, and agriculture. Attending the Forum on Monday were...

SARAJEVO, BOSNIA AND HERZEGOVINA - Saudi Fund for Development (SFD) Board of Directors Chairman Ahmed Al-Khateeb, laid the foundation stone for the construction of a new library in the University of Sarajevo here. The funding for construction and equipping of the library has been through a generous US$22 million grant...

Dubai, UAE -- Nesma & Partners, a contracting company funded by Saudi sovereign wealth fund, the Public Invesment Fund, has signed an agreement to acquire Kent, a global energy services provider. The acquisition is expected to close by the end of the calendar year, subject to regulatory approvals and satisfaction...

DUBAI, UAE – UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei launched the National Program for Infrastructure Development (Salamah 365). This is a transformational project under the performance agreements signed by federal authorities in 2022 in the presence of Sheikh Mohammed bin Rashid Al Maktoum, Vice President,...

Al-Khobar, Saudi Arabia – Arabian Drilling Company, one of the largest national onshore and offshore drilling contractor in Saudi Arabia, announced on Tuesday that it secured multiple contracts from Aramco for ten) additional Land Rigs worth SAR 3 billion ($0.80 billion).  The ten contracts are for additional land rigs assigned...

Jeddah, Saudi Arabia - SAUDIA, the national flag carrier of Saudi Arabia, announced the expansion of its fleet with the addition of new aircraft type, Airbus A321neo under the slogan “A neo-way of flying.” The airline aims to add 20 more A321neo aircrafts to its fleet by 2026. The A321neo...

Dubai, UAE--The UAE's real estate market has recorded a strong performance across all sectors in the first half of the year as non-oil economy witnesses strong growth in spite of global macroeconomic headwinds. According to a market report by CBRE, rental performance in Abu Dhabi’s occupier market showed substantial improvement...

Dubai, UAE - The International Data Corporation (IDC) has forecasted that the Middle East will spend $3 billion on AI in 2023, with this figure expected to more than double to $6.4 billion by 2026. CEOs in the region are recognizing the significance of AI for their businesses, with over...

New York, US - Wall Street stocks edged higher early Monday ahead of major economic reports and earnings releases later in the week, including from Apple and Amazon. After a strong first half of 2023, US equities have continued to trend higher in July behind hopes that the Federal Reserve will...

Washington, US - A Federal Reserve official left open the possibility on Monday of pausing or stopping interest rate hikes at the central bank's next policy meeting in September, saying "there's nothing off the table." "Thus far we're on the golden path and we've got to walk that line," Chicago Fed...