The financial landscape of Saudi Arabia and the UAE is undergoing a significant transformation, with most adults in the region experiencing an increase in their wealth.

Hossein Amir-Abdollahian also took the opportunity to reiterate the Islamic republic's support for the Palestinian cause at a time when Riyadh is in discussions with the United States about potentially normalizing ties with Israel.

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 government...

Its shares will begin trading on the bourse later this month.

The division recorded 32% growth in H1 of 2023.

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 Director...

In a separate statement late Tuesday, the commerce ministry announced the total lifting of subsidies on petrol and a partial lifting of subsidies on fuel oil. As a result the price of petrol has risen to 8,000 pounds from 3,000 previously, and fuel oil to 2,000 pounds from 700 previously,...

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 minister,...

In 2022, 45 percent of adults in Saudi Arabia had a net worth of less than $10,000, against 43 percent of adults in the UAE, according to Global Wealth Report 2023.

Train trips in H1 2023 rose 46 percent compared to H1 2022.

Twelve years after conflict broke out when President Bashar al-Assad repressed peaceful pro-democracy protests, Syrians are still trying to escape a war that has killed more than 500,000 people. At least 141 Syrians were among up to 750 migrants thought to have been on a trawler that set off from...

Its cargo revenue recorded a 42% jump in H1 to US$57.9m.

From Cristiano Ronaldo to Neymar, the kingdom is offering eye-watering salaries to international football stars to bring them over from clubs across Europe.

The boat was spotted on Monday almost 200 miles from the island of Sal by a Spanish fishing boat, which alerted Cape Verde authorities, police said. Around 40 survivors and several dead bodies were found on the boat, but sources differed on the exact number. The local morgue said it...

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 that...

Amman, Jordan--Jordan is urging "companies and institutions" to switch to renewable and sustainable energy to reduce operating costs.In this regard, the kingdom's Minister of Energy and Mineral Resources Saleh Kharabsheh said Tuesday opportunities exist for cooperation to cut energy consumption across various sectors through implementing programs similar to those of...

It posted a jump in net profit in Q2 to US$2.92 million.

Seen as a key culprit in the country's dramatic economic crash, former governor Riad Salameh's bank accounts were ordered to be frozen by Lebanon days after the the US, the UK and Canada slapped him with sanctions. The central bank has ordered the lifting of banking secrecy and the freezing...

Muscat, Oman-- Oman LNG has signed an agreement with Securing Energy for Europe (SEFE) to supply 400,000 tonnes of liquefied natural gas a year from 2026.According to Oman News Agency, the agreement with the German company is based on a four-year contract.“The term-sheet signing with SEFE marks another milestone. Going...

Abu Dhabi, UAE-- The banks in the UAE increased their credit facilities for the business and industrial sectors by around $7.73 billion in the first five months of this year.According to the latest statistics from the Central Bank of the UAE, the two sectors witnessed a 4 percent rise in...

Atlanta, United States - Prosecutors investigating Donald Trump's efforts to overturn the 2020 election in the US state of Georgia were expected to begin presenting evidence to a grand jury Monday for what could be a sprawling, multi-defendant indictment.The case would be the fourth brought against Trump this year -- it...

Dubai, UAE--Oil prices declined more than 1% on Monday as concerns about China's faltering economic recovery and a stronger dollar weighed against seven weeks of gains on tightening supply from OPEC+ output cuts.Brent crude futures fell $1.07, or 1.2%, to $85.74 a barrel by 0631 GMT while U.S. West Texas...

Riyadh, Saudi Arabia - The Saudi Ministry of Human Resources and Social Development (MHRSD) is set to introduce a system of fines and penalties targeting employers who breach labor regulations, a report in Saudi Gazette said.The changes encompass a wide array of labor-related violations: The companies will face fines for...

Its net profit jumped to US$77.19m as against US$37.63m.

Riyadh, Saudi Arabia--The Saudi National Debt Management Center (NDMC) has issued new sukuk worth $9.57 billion under the Local Saudi Sukuk Issuance Program, in addition to an early purchase of more than $9.52 billion.In a statement carried by the Saudi Press Agency (SPA), NDMC outlined that such a step is...

Its net profit rose to US$4.14m as against US$3.96m last year.

Abu Dhabi, UAE--The UAE has applauded the UN for the successful unloading of oil from the deteriorating tanker, FSO Safer, situated off Yemen's coast in the Red Sea.The Ministry of Foreign Affairs (MoFA) lauded the collective efforts of the United Nations, its Secretary-General Antonio Guterres, the Coalition to Restore Legitimacy...

RIYADH, SAUDI ARABIA – Prince Abdulaziz bin Salman and Agnes Pannier-Runacher, Minister for Energy Transition of the French Republic met and issued a joint communiqué:The Government of the Kingdom of Saudi Arabia and the Government of the French Republic acknowledge that energy is one of the main pillars of their...

Baghdad, Iraq--Iraq has restored access to the popular messaging app, Telegram, on Sunday after a week-long ban.The ban, which took effect on August 6, was enforced after concerns arose regarding breaches of national security. The government cited the leaking of state-owned private documents and the protection of citizens' personal data...

Doha, Qatar--Qatar Central Bank (QCB) has exhorted companies willing to work in providing website services to compare prices of insurance policies to promptly submit applications to receive the required license from the bank.In a statement on Saturday, QCB outlined that this announcement comes in alignment with financial sector and fintech...

Until April 15, when the conflict erupted between the army headed by General Abdel Fattah al-Burhan and Mohamed Hamdan Daglo's paramilitary Rapid Support Forces, Seif had worked at a Khartoum university. Now the engineering lecturer and his family live in Wad Madani, In order to survive, he has started selling...

Taif, Saudi Arabia-- Cristiano Ronaldo led his team to victory as Al-Nassr FC won the 2023 King Salman Club Cup for the first time in its history, defeating Al-Hilal 2-1 on Saturday eveningThe team lifted the title after extra time despite playing for more than an hour with just 10...

Saudi Arabia, which has pioneered the development of smart cities in the region, plans to establish more than 200 smart cities.

Jeddah, Saudi Arabia--Brazilian forward and former Liverpool star Roberto Firmino hit a hat-trick on his Saudi Pro League debut on Friday as Al- Ahli defeated Al-Hazem 3-1.The 31-year-old skipper found the net in the sixth, 10th and 72nd minutes for the promoted team who also fielded fellow new signings Riyad Mahrez,...

The American network will launch the deal with broadcasts of two games on Monday featuring Ronaldo and Karim Benzema. Fox's deal was for 100 matches this season and for both English and Spanish language rights. The matches will feature on Fox Sports 2 and Fox Deportes as well as Fox...

The Kazakh minister said his country hopes to benefit from the UAE's experience in tourism and development sectors as he affirmed Kazakhstan's objective to add more facilities and resorts to its tourist attractions. He noted how Astana, the capital, has become a suitable destination for investment, especially in the tourism,...

It posted gains in one week on the back of company results.

PARIS, FRANCE - The International Energy Agency said Friday it had revised upwards its forecast for global oil demand growth in 2023 as demand is "scaling record highs".World oil demand already hit a record 103 million barrels per day in June and August and "could see yet another peak", the Paris-based...

This performance will be delivered through constant contributions from the non-oil sector, especially from tourism, leisure and real estate. The OPEC Monthly Oil Market report for August said the country's Global Purchasing Managers’ Index (PMI) was almost unchanged in July, standing at 56, following 56.9 in June and compared to...

Alibaba's revenue amounted to 234.1 billion yuan ($32.5 billion).

Disney+ finished the quarter with 146.1 million subscribers, compared with just shy of 158 million in the first three months of this year, the group said. All but a sliver of the loss in Disney+ subscribers took place in India, where the entertainment titan early this year lost rights to...

Dubai, UAE-- More than 15 million people visited Dubai Municipality public parks, neighborhood parks, lakes, and recreational facilities for the first time during the first half of 2023. It marks a 50 percent increase in the same period of 2022, which recorded approximately 10 million visitors.Visitors to parks and facilities...

Riyadh, Saudi Arabia--The Saudi Export Development Authority organized a trade mission to Japan under the theme of "Saudi Made" in Tokyo on Tuesday.The mission comes as part of the Saudi Export Development Authority efforts aimed at developing non-oil Saudi exports, stemming from its role in promoting exporters and their products,...

Its net profit for H1 of 2023 stood at US$11.70 million.

Abu Dhabi, UAE - A record 2.4 million tourists visited the UAE during the first six months of 2023, a report by the Department of Culture and Tourism – Abu Dhabi said.Also, the numbers marked an increase of around 34 percent compared to the same period during last year.The emirate’s...

Tehran, Iran-- In a defiant posture toward the West, Russia has declared that it will continue to enhance military cooperation with Iran, despite what it termed as enemies' opposition to the ties between the two countries.Deputy Foreign Minister of Russian Federation Sergei Alexeyevich Ryabkov said that the military cooperation between...

Muscat, Oman--Looking to address its mounting debt, Oman Air has backed a restructuring program to reduce its losses by 15 percent in the ongoing fiscal year while aiming to reach a break-even point by 2026.  The airline in May made a forecast of reducing its net loss by a further 56...

Sharjah, UAE--The Real Estates Sector Business Group has discussed with the Sharjah FDI Office (Invest in Sharjah) ways to promote lucrative real estate investment projects in Sharjah and invigorate the local real estate sector.The meeting looked into ways to benefit from the Sharjah FDI Office's expertise to promote real estate...

The dollar remained steady with talk of yet another US interest rate hike, while oil prices retreated following disappointing Chinese trade data. Analysts warned that while the US economy remained in rude health after more than a year of rate hikes, fears of recession remained.

The transportation and storage sector was the biggest contributor to overall growth at 48 percent. This was followed by the financial and insurance sector, which accounted for 15 percent, and trade at 10 percent, according to data issued by the Dubai Data and Statistics Establishment of the Dubai Digital Authority.