The features of the new Standard include standardization of the accounting measurement models for insurance and reinsurance companies around the world.

Around 27-39 companies in the Gulf region are expected to come out with IPOs in the first few months of this year with the Kingdom and UAE leading from the front, reports suggest.

The region remains cautious as it takes a strategic approach to invest in the technology by focusing on experimentation and finding suitable business use cases, says an expert.

Saudi Arabia plans to invest more than US$266 billion to produce cleaner electricity and expand its power grid, the kingdom's energy minister said. Speaking at a forum organized by Saudi oil giant Aramco, Prince Abdulaziz bin Salman said the world's biggest crude exporter was also looking to become a global...

Riyadh, Saudi Arabia--Aramco has signed more than 100 agreements and Memorandums of Understanding valued at around $7.2 billion to help advance an industrial ecosystem at the seventh edition of the In-Kingdom Total Value Add (iktva) Forum and Exhibition.The agreements were signed with Zoom, Taulia Inc, DHL, Ministry of Investment of...

The net profit was up 16 percent from $3.92 billion in 2021.

The Kingdom is studying the feasibility of investing in the futuistic UK project, which if materialized may play an important role in combating climate change.

RIYADH, SAUDI ARABIA - The Gulf Cooperation Council (GCC) Standardization Organization (GSO) has announced its training plan for 2023 in the field of standards and metrology through the GCC Standardization Training Center affiliated with GSO.The GSO President, Saud bin Nasser Al-Khusaibi, said in a statement Sunday that the 2023 training...

Riyadh, Saudi Arabia--The Saudi Ministry of Investment has signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology at Riyadh Global Medical Biotechnology Summit 2023, the Saudi Press Agency reported Friday.The MoUs were signed in the presence...

Shored up by healthcare, financial services, banking sector, and raw material companies, the Saudi equities posted gains throughout the weeks.

The revenue of Saudi cinemas increased by 9.47% to approximately US$240 million until December 25, 2022, compared to 2021's revenue of US$232 million, a report points out.

Riyadh, Saudi Arabia---Saudi Arabia's National Housing Company signed 22 MoUs worth nearly 4 billion riyals ($1.06 billion) on the sidelines of the launch of the materials platform, Mawadat, at the Future of Real Estate Forum.The platform aims to connect contractors and real estate developers with the factory or supplier approved...

The American Glazer family, United's owners, began looking for new investment with British billionaire Jim Ratcliffe's company INEOS entering the bidding process.

The Tesla chief returned to the witness stand to answer questions from lawyers for angry investors who accuse him of costing them millions of dollars with a pair of allegedly false tweets about having the funding secured to buy them out. A lawyer for the plaintiffs focused on Musk's buyout...

Agile brands, especially luxury ones with sizeable marketing budgets, have readily tapped into the metaverse, creating exclusive NFTs and new revenue streams, says an expert.

The Minister of Municipal and Rural Affairs and Housing Majid bin Abdullah Al-Hogail, who inaugurated the second edition of the Forum, said the event coincides with the coming into force of the real estate brokerage system, which enables the development and governance of the real estate sector and the digitization...

RIYADH, SAUDI ARABIA - Saudi Arabia's Communications, Space & Technology Commission (CST) has announced the formation of a Space Entrepreneurship Alliance to achieve growth and sustainability in the sector and develop a solid foundation to support entrepreneurs in the Kingdom's space industry.The alliance was announced during the Commission's participation in...

Ronaldo's league debut had an anticlimactic feel in front of 22,862 fans after he scored twice in this week's lively 5-4 exhibition defeat to Lionel Messi's Paris Saint-Germain. "He's one of the best players in the history of football, so it's very important for us to do everything possible to...

Robust monetary policies curtail the impact of geopolitical tensions, energy crisis, worsening inflation rates and market volatility on the region during 2022, a report highlights.

The snub underlines Arab divisions over the Tripoli-based government, whose legitimacy is contested by a rival administration in the war-torn country's east. Regional heavyweights Egypt, Saudi Arabia and the United Arab Emirates were not represented at all at the gathering -- a preparatory session ahead of a foreign ministers' meeting in...

Secretary-General of the GCC Dr. Naif Falah Mubarak Al-Hajraf has warned that the act would inflame and provoke Muslims around the world. He said the GCC stood for the importance of spreading the values of tolerance and rejecting extremism.

BAGHDAD, IRAQ - The Civil Aviation Authority announced the work to conclude new air agreements with the Gulf states. A spokesman for the Civil Aviation Authority, Jihad Al-Diwan, told local media agency: "We have agreements with all Gulf countries and all Gulf national carriers that land in Iraqi airports, except for...

In a statement, Palestinian foreign ministry acknowledged the full Saudi support for the right of the Palestinian people in determining their own destiny.

Overall, the two Gulf countries will continue to be major beneficiaries of the inflow of funds this year, says Nazar Musa, CEO of PRO Partner Group.

The comments by Prince Faisal bin Farhan Al Saud on the sidelines of the World Economic Forum in Davos came as Israeli Prime Minister Benjamin Netanyahu discussed normalization with Saudi Arabia in talks with White House National Security Advisor Jake Sullivan in Jerusalem on Thursday.

Hundreds of millions of euros worth of footballers were on view for the exhibition game in the Saudi capital, which comes just weeks after neighbouring Qatar spent lavishly on the first World Cup on Arab soil, won by Messi's Argentina. Among the packed crowd at the 69,000-seat King Fahd Stadium...

More than 50% of the countries with voting rights have pledged public support for the Saudi city’s bid, Fahd Al-Rasheed, the CEO of the Royal Commission of Riyadh City, tells TRENDS.

Netanyahu, who returned to office last month with the formation of a new government, was at the helm in 2020 when Israel established ties with the United Arab Emirates, Bahrain, Morocco as part of the Abraham Accords. He has repeatedly expressed his desire to see Saudi join the list.

Riyadh, Saudi Arabia--Saudi Arabia's Capital Market Authority's has approved the Implementing Regulations of the New Companies Law for listed joint stock companies to be effective from 19 Jan 2023.The approval is based on the authority the Law granted to the CMA to regulate the matters and subjects stipulated in the...

The mode of communication, known as Alheda'a, was inscribed last month on UNESCO's list of intangible cultural heritage.

Princess Reema bint Bandar, Saudi Arabia’s Ambassador to the United States of America, underlined the importance of the Saudi-US relationship.

There is a need to find a route to ending the Russia-Ukraine conflict, otherwise global uncertainty would continue. "This is complex question, but we will have to talk about how we find a pathway to ending the conflict," adds Prince Faisal bin Farhan Al Saud in Davos.

The sector gains meteoric traction, largely due to structural shift in consumer interests and partly because of the pandemic-induced accelerated digitalization, says an expert.

Despite its goal of achieving net zero carbon emissions by 2060, the country remains hugely dependent on crude oil exports that have powered its growth for decades, raising doubts about its potential for an economic makeover any time soon. Riyadh has dispatched eight top-ranking officials to the gathering of business...

Both Gulf countries reported an increase in non-essential spending from 2021 to 2022, with the expectation that this trend will continue into 2023, says an expert.

A real estate businessman from Saudi Arabia has won a ticket to see Cristiano Ronaldo and Lionel Messi face off in a friendly after bidding $2.6 million at an auction. The game in Riyadh will pit Messi's Paris Saint-Germain against players from Ronaldo's new club Al Nassr and their Saudi...

Mohammed Al-Jadaan also warned of risks if the central bank digital currency was introduced as it will require citizens to provide large amounts of data.

Large infrastructure projects -- mainly supported by the Public Investment Fund and National Development Fund -- are expected to boost the Kingdom's economy further.

The move aims at supporting Kingdom's infrastructure development, boosting logistics and providing unique business environment in transport sector, air traffic and ports.

Jeddah, Saudi Arabia--Jeddah will host the first Islamic arts event from 23rd January to 23rd April 23, 2023, which will feature 17 exhibits from Uzbekistan.The event is organized by the Diriyah Biennale Foundation in cooperation with the Ministry of Culture of Saudi Arabia.The event aims at “connecting the past, present...

The Camel Club will be participating in all events organized by the ICO in the kingdom as a local and international strategic partner.

Nearly six years after the breakup of diplomatic ties between the two countries, Iran's Foreign Minister Hossein Amir-Abdollahian has expressed hope that ties between Tehran and Riyadh could be restored through dialogue between the two regional arch-rivals. Saudi Arabia broke up ties with Iran in 2016, after protestors attacked its...

The UAE pledged to roll over $2 billion in debt due over the next two months, with an additional $1 billion pledged during Prime Minister Shehbaz Sharif's ongoing visit to the emirates.

Nearly 60 percent of organizations in the region had increased their cybersecurity spending in 2022, Abhay Pandey, Founder and CEO at MAST Consulting Group, tells TRENDS.

Paris, France--A Saudi film fund announced Thursday that it is investing in Johnny Depp's new movie, a French period drama in which he plays King Louis XV.The Red Sea Film Foundation said in a statement that it was backing the new film, "Jeanne du Barry", directed by France's Maiwenn, who...

Riyadh, Saudi Arabia---Saudi Arabia and Bulgaria have discussed ways to boost bilateral cooperation and develop the economic sectors between the two countries.The two discussed these issues during a meeting between Minister of Economy and Planning Faisal bin Fadel Al-Ibrahim and the Bulgarian Minister of Economy and Industry Nikola Stoyanov and...

The signing ceremony also witnessed the handing over of the two exploration licenses for Khnaiguiyah and Umm Al-Damar sites to the companies that won their licenses.

Seeking to reduce its dependence on crude, the world's biggest oil exporter, Saudi Arabia, has said that the kingdom intends to use its own uranium resources to develop its civilian nuclear program, according to its energy minister, The project is expected to cost the country some $80 billion.

It aims to enhance global cooperation and design joint solutions to today’s geopolitical, social, economic, and human development challenges. Saudi’s delegation will discuss how it addressed challenges posed by the pandemic and share insights into the solutions that helped maintain a robust performance in the face of rising global pressures.

Face and iris recognition technology vary by country in the region, and expecting it to be implemented in many airports around the world in a short time is unrealistic, says an expert.