Riyadh, Saudi Arabia–- Investments, launches and announcements valued at more than $9 billion were made at the 2nd edition of the International Technology Conference, LEAP23, which concluded Thursday.A record 300,000 people from more than 100 countries visited the event, making it the largest global gathering for technology and digitization developments...

Riyadh, Saudi Arabia--The Saudi Investment Recycling Company (SIRC) has signed a joint memorandum of understanding with the Abu Dhabi Waste Management Company (Tadweer) to explore potential investment opportunities in the waste management and recycling sector in the kingdom.They will explore joint options for adopting technology and ideal recycling solutions, activating...

Riyadh, Saudi Arabia-- Saudi Arabia's industrial production index (IPI) for December 2022 witnessed a 7.3 percent increase compared to the same period last year.A surge in mining, quarrying, and manufacturing activity helped the growth in IPI, according to a report published by Saudi General Authority for Statistics (GASTAT).The results of...

The two Gulf countries expect new strategy to result in a rapid economic transformation and offer new revenue stream, allowing them to cut down reliance on crude oil income.

Riyadh, Saudi Arabia--Investment and funding programs worth $580 million were announced on the third day of LEAP 23 Tech Conference, which has been organized by the Ministry of Communications and Information Technology (MCIT), in cooperation with the Saudi Federation for Cyber Security and Programming and Tahaluf. The tech global event...

Earlier in the last week of January, Bahrain's crown prince and Qatar's emir spoke by telephone. in a sign that the two Gulf countries are making effort to improve ties.

Saudi Arabia on Tuesday ordered the King Salman Humanitarian Aid and Relief Centre "to provide health, shelter, food and logistical assistance" to Syria and Turkey, the official SPA news agency said. It will also launch a public donation campaign for quake victims in both countries, SPA added. The oil-rich Gulf...

Hong Kong-- Hong Kong is looking to persuade oil giant Aramco and its units to consider a secondary listing in the Asian financial hub.Hong Kong Chief Executive John Lee is embarking on his first official visit to the Middle East, according to the South China Morning Post.Lee is kicking off...

At the moment, the market is solidly Dubai, which is recognised as the world leader in branded residential offerings with all eyes on the city’s upcoming openings. The slower approach of Abu Dhabi will be something to watch as it makes large-scale investments into the luxury sector, he adds.

The two will run wellness centres in Saudi Arabia.

The two biggest economies of the region are leaving no stone unturned to hire the most talented professionals in order to run the ever-expanding companies.

Riyadh, Saudi Arabia---Saudi Arabia's Ministry of Industry and Mineral Resources said Sunday that the number of mining complexes in the kingdom at the end of 2022 reached a total of 377 complexes, covering a total area of 44,365 square kilometers.The complexes were distributed over 13 regions, topped by the Makkah...

More dams are being built in the region to shield the residents against floods, offer a lifeline during drought and work towards food sufficiency by enhancing agriculture output.

Al-Hasa, Saudi Arabia--Cristiano Ronaldo got off the mark for his new Saudi paymasters Al Nassr on Friday with a stoppage-time penalty that rescued a 2-2 away draw against Al Fateh.The Portuguese, who turns 38 on Sunday, buried the spot-kick in the 93rd minute for a point that left the Riyadh club joint...

Over the next decade, the Kingdom's tourism industry is projected to develop at an annual rate of 11 percent, making it the region's fastest-growing tourism market.

The MoU encourages cooperation between the two countries in the fields of electricity, renewable energy, energy efficiency, energy storage, smart grids.

The gaming markets in Saudi Arabia, the UAE and Egypt is expected to be worth $3.14bn by 2025, according to California-based market research and consulting firm Niko Partners.

Baghdad is currently heavily dependent on neighboring Iran for its electricity and gas and has sought to diversify its energy sources.

The Paris gathering is to be attended by representatives from France, the United States, Saudi Arabia, Qatar and Egypt. Lebanon is being run by a caretaker government and is also without a president as lawmakers have repeatedly failed to elect a successor to Michel Aoun, whose mandate expired at the...

Riyadh, Saudi Arabia--The Saudi Authority for Industrial Property and Technology Zones (MODON) signed yesterday a partnership agreement to establish, develop and operate 14 warehouses with flexible spaces in the First Industrial City in Jeddah.Equipped with smart and automated systems, the warehouses are expected to provide fast and temporary logistical solutions...

According to a study, GEA also authorised permits for almost 1,300 entertainment shows until the end of last year.

Speaking at the AFC Congress in Bahrain, Saudi Arabia's Sports Minister Prince Abdulaziz bin Turki Al-Faisal said he didn't see a problem with Russia shifting allegiances to Asia.

Vienna, Austria--A committee of major oil producers recommended Wednesday to maintain the cartel's current reduced output strategy, as the global economic outlook remains uncertain and the war in Ukraine drags on.The 13 members of the Organization of the Petroleum Exporting Countries (OPEC) led by Riyadh and their 10 allies led by...

The pacts were signed on the sidelines of the Saudi-Omani Investment Forum which is held in Riyadh under the theme of "Partnership and Integration".

Hours after the US Federal Reserve upped its target interest rate by a quarter of a percentage point, many central banks in the GCC region followed suit, raising their respective interest rates. Saudi Arabia, the UAE and Bahrain hiked it by 25 basis points while the central bank of Qatar...

There is a rise in the interest of foreign investors in the MENA startup ecosystem as their share increased from 20 percent in 2021 to 47 percent in 2022, reports suggest.

The farms will have a capacity of 1.1m kg of crops per year.

It was signed with Integrated Telecom Company and TAWAL.

In the coming years the Saudis, who watched as neighbors Qatar hosted the World Cup in November and December, will hold the women's Asian Cup, the Olympic-sized Asian Games and even the Asian Winter Games on artificial snow.

Saudi Arabia has won a seat on FIFA’s ruling Council before being set to be confirmed as host of the 2027 Asian Cup. The election win at the Asian Football Confederation’s annual meeting proves growing Saudi influence in global football.

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...