Saudi tourism hits record $36 billion inbound spending in 2023
Riyadh, Saudi Arabia - Saudi Arabia's tourism sector contributed to a record-breaking $36 (SR135 billion) in spending by international visitors. The surge, reported by the Saudi Central Bank (SAMA), represents a substantial 42.8 percent increase from the previous year. The Kingdom's remarkable performance in tourism was further highlighted by its...GCC media outlets think outside the box to stay afloat
Reeling from a calamitous drop in advertisement revenues and public trust, news media organizations are reworking strategies to create "niche" content.GCC media outlets think outside the box to stay afloat
Reeling from a calamitous drop in advertisement revenues and public trust, news media organizations are reworking strategies to create "niche" content.Saudi Arabia lifts restriction on hajj pilgrim numbers
The pilgrimage - one of five pillars of Islam, and which all able-bodied Muslims with the means are required to perform at least once - is scheduled for June. In 2019, about 2.5 million people took part in the rituals. For the next two years numbers were drastically curtailed numbers...Influential Israeli Zionist rabbi Haim Druckman dies at 90
Rabbi Haim Druckman was a student of Zvi Yehuda Kook, whose movement founded settlements after Israel occupied the West Bank in the 1967 Six-Day War. Druckman was considered one of Kook's successors from the 1990s.$858 bn US defense bill scraps military vaccine mandate
The mandate -- under which the Pentagon says more than 8,000 military personnel have been discharged for refusal to comply -- was scrapped over the objections of US President Joe Biden and Defense Secretary Lloyd Austin, in a victory for Republicans who sought to end it. While various other US...UK inflation slows to 10.7% in November
The data was published on the eve of an interest rate decision from the Bank of England, which is widely expected to deliver the ninth hike in a row as policymakers try to tackle rampant prices. It also comes as strikes spread across the economy, with workers protesting over salaries...Ethiopia reels from high inflation and economic slowdown
After a decade of dynamic growth during the 2010s, Africa's second most populous country has suffered multiple shocks, including the Covid-19 pandemic, a record drought, a two-year war in its northernmost region of Tigray and the global impact of the invasion of Ukraine.Dubai airport traffic returns to pre-pandemic levels: statement
Dubai, the world's busiest airport for international passengers before the Covid-19 pandemic, had 18,455,938 visitors in the three months to September, the biggest number since 17.8 million in the first quarter of 2020. "The growth in passenger traffic has been terrific throughout the year and continues to exceed our expectations...Foreign assets of Gulf central banks rise post Covid
Here are the details of how GCC countries gained in past four years in terms of foreign assets held by each of the central banks of the region post-pandemic.Saudi NDF pumped $7.45 billion into Covid relief measures
Riyadh, Saudi Arabia— The National Development Fund (NDF) of Saudi Arabia has since March 2020 financed SAR28 billion ($7.45 billion) to aid the healthcare and education sectors, support citizens and stimulate the local economy that was affected by Covid-19 pandemic. NDF closely monitored the consequences of the pandemic and directed...Starbucks names outgoing Reckitt leader as next CEO
Narasimhan, who was most recently chief executive of Anglo-Dutch multinational Reckitt, will relocate to Seattle from London and join Starbucks on October 1, the company said in a news release. Following a stretch working with longtime Starbucks CEO and interim boss Howard Schultz, Narasimhan will take over the top spot...Oil prices fall on potential Iran deal, as China economy falters
A deal would mean that Iran's crude output of 2.5 million barrels per day would no longer be subject to international sanctions, which would help relieve supply constraints that have been pushing up prices.Deliveroo to exit Netherlands on back of surging losses
A planned exit from the Netherlands towards the end of November follows Deliveroo's departure from Spain last year, although the group on Wednesday said it had gained market share in the UK and Italy.Global chip shortage likely to last through 2023: US official
The global shortage of critical semiconductors is likely to last at least through next year and perhaps longer, US Commerce Secretary Gina Raimondo warned on Tuesday.World economies witness new stagflationary shocks
Since the outbreak of the pandemic, the Southeast Asian countries have lagged the performance of advanced economies due to initially low vaccination rates, supply chain constraints and less accommodative monetary and fiscal policies, the weekly report by Qatar National Bank points out.Red Cross chief Mardini on Iran visit talks Afghans’ plight
More than one million Afghans have sought refuge in Iran since the Taliban returned to power in August, according to Iran's state news agency IRNA.China expands mass testing as lockdown fears grow
Under its zero-Covid policy, China has used strict lockdowns, mass testing and severe travel restrictions to stamp out infections. But authorities are increasingly struggling with the impact of these protocols on the economy and business morale, especially when outbreaks appear in the country's most important cities.WTO chief hails Covid vaccines IP compromise
Ngozi Okonjo-Iweala said the compromise was a big step forward in a bid to end the logjam at the global trade body.Fed set to raise interest rates to rein in inflation
The Federal Reserve will have to walk a tightrope to ensure its efforts don't derail the recovery from the Covid-19 pandemic.The price of love: Pandemic fuels romance scam
Cancelled dates over supposedly positive Covid tests and disrupted travel plans due to lockdowns are ruses that feed into the well-worn script of romance scammers, the FTC has warned.Morocco announces $1 bn relief for drought-hit agriculture industry
Morocco said Wednesday it will launch a nearly $1 billion aid program to help its agriculture industry, which has been hit hard by a particularly acute drought in recent years. The emergency plan "aims to mitigate the effects of delay in rainfall, to alleviate the impact on agricultural activity and...Valid PCR requires to travel through King Fahd Causeway
The Police Directorate of Causeway has asked travelers to follow precautionary measures that are mandatory.Toshiba to split into 2 firms
This is a revision of an earlier proposal to divide into three companies.Omicron sub-variant found in 57 countries : WHO
The fast spreading and heavily mutated Omicron variant has rapidly become the dominant variant worldwide since it was first detected in southern Africa 10 weeks ago.‘Necessary evil’: Some artists say can’t quit Spotify
The opportunity for less well-known artists to reach a large audience and potentially get paid for streams of their music means they feel obligated to stick with Spotify.Pfizer seeks US approval of Covid vaccine for children under 5
Pfizer and BioNTech will soon ask US regulators for emergency authorization for a Covid-19 vaccine for children aged five and under, US media reported Tuesday. This is the last age group in the United States that is not yet eligible for coronavirus shots. As early as Tuesday, the companies could...Qatar Financial Center’s systems benefit aircraft leasing firms: CEO
The Center’s proximity to the most important leading airlines in the world and its wide network of destinations make it an ideal destination for aircraft leasing companies, says Yousuf Mohammed Al JaidaLong haul Covid patients find hope in recovery clinics
When Stephanie Hedrick realized she was still suffering from shortness of breath, blurry vision and brain fog months after recovering from Covid-19, she knew she needed more help than her primary care doctor alone could provide. After months of rehabilitative therapy at a specialized clinic in the nearby capital Washington,...Vaccine patents accord possible in weeks, says WTO
Developing countries lagging in vaccinating their populations have been pushing for waivers on the patents on Covid-19 vaccines.Emerging markets: A constructive 2022 in sight
Even in the face of the ongoing COVID-19 pandemic, policy changes, technology disruption and other challenges, positive structural forces remain apparent and are likely to foster fresh investment opportunities across emerging markets. Digitalization and decarbonization will also play key role in pushing up the markets, he adds.Covid-19 pandemic far from over: WHO
The WHO has warned that the sheer numbers of people infected will mean many people are still falling seriously ill and dying.World tourism won’t return to pre-Covid levels until 2024: WTO
In Europe and the Americas, foreign visitor arrivals surged by 19 percent and 17 percent, respectively, last year over 2020. In the Middle East, however, arrivals declined by 24 percent in 2021, while in the Asia-Pacific region they were 65 percent below 2020 levels, and 94 percent down on pre-pandemic...Covid and its effects continue to pose threat to world: WEF risks report
The Global Risks Report 2022 released by the World Economic Forum said vaccine inequality and a resultant uneven economic recovery risk compounding social fractures and geopolitical tensions. The global economy was expected to be 2.3 percent smaller by 2024 than it would have been without the pandemic.Omicron variant spread due to mix of factors
Omicron transmitted very efficiently between people due to a number of reason including make-up of the Covid-19 variant and increased social mixing and not adhering to measures such as physical distancing.World Bank okays $90m in pandemic aid for Iran
World Bank support for Iran's Covid-19 response is expected to help the country mitigate the ongoing humanitarian crisis within its borders, with the development lender having already called the nation the epicenter of Covid-19 infections in the region.Omicron surge may lead to newer, more dangerous variants: WHO
A top WHO official has sounded an ominous note of caution, that the soaring infection rates could have the opposite effect. According to him, the Omicron variant of coronavirus could pose a greater threat because of the sheer number of cases.WHO says Omicron risk ‘very high’ after Covid cases rise by 11 percent
Omicron is behind rapid virus spikes in several countries, including those where it has already overtaken the previously-dominant Delta variant, the WHO said in its Covid-19 weekly epidemiological update.UAE suspends entry for travelers from Kenya, Tanzania, Ethiopia, Nigeria
UAE citizens are barred from traveling to the four African countries except for the country's emergency treatment cases, official delegations, and scholarships. In addition, the country has introduced new travel requirements for those coming on direct flights from Uganda and Ghana. These include having a negative COVID-19 test obtained within...AfCon to be held as planned despite Omicron surge
The Confederation of African Football President Patrice Motsepe has confirmed that AFCON 2021 will go ahead as planned in January 2022.Saudi exempts Iran Yemen envoy from air blockade for Covid treatment
Iran's ambassador flew out of the rebel-held Yemeni capital to receive Covid treatment Saturday in a rare exemption from an air blockade enforced by a Saudi-led coalition, Saudi and Iranian officials said. "The ambassador left on an Iraqi aircraft and is probably now in Baghdad," a senior Saudi official familiar...Iran sees possibility of exporting Covid-19 vaccines in a few months
Iran has said exporting vaccines manufactured by domestic producers was possible in a few months. Iran's deputy health minister for research and technical affairs Younes Panahi told Iranian media that some local producers made good progress and mass production of the vaccines will happen in the future. He said the...Only united front can eradicate global sports corruption: Frattini
The 64-year-old Italian, who now chairs SIGA, said organised crime was highly interested in sport because it was “a very profitable field” for them.Growing health costs push over half a billion into extreme poverty: WHO-WB
UN Secretary-General António Guterres in his message marking the International Universal Health Coverage Day said that with the third year of the pandemic fast approaching, "we must urgently strengthen our health systems to ensure they are equitable, resilient and capable of meeting everyone’s needs, including for their mental health.''UAE University patents virus-killing ‘electrical mask’
The backing material of the device is made of suitable flexible plastics or polymer material, which can conform to the shape of the user's face when the facemask is secured.WHO says no Omicron deaths yet, as variant spreads worldwide
There had been a spike in the number of children under five admitted to hospital since Omicron emerged.Toyota lifts annual profit forecast despite production cuts
The world's top-selling automaker has recovered quicker than its competitors from some of the impact from Covid.UAE’s ADNOC reinstates full oil supplies in Dec
It will be the first time since the oil price crash in the second quarter of last year when the COVID-19 pandemic devastated demand that ADNOC has not implemented any supply cuts.Covid may have killed over 180000 health care workers: WHO
A WHO paper estimated that out of the planet's 135 million health staff, "between 80,000 to 180,000 health and care workers could have died from Covid-19 in the period between January 2020 to May 2021".



















































