Mobile data service revenues are expected to reach 60 percent of the total GCC mobile service revenues by 2026.

Many markets in the Middle East and Africa show a larger gap between affluent and non-affluent households in 2019 vs 2022 discretionary spending.

The Frenchman, who has just won the 2022 edition of the Extreme E, has a tough battle in front of him if he is to improve on his three podium finishes and chalk up that first win. Notably, he will need to unseat defending champion Nasser Al-Attiyah (Toyota), a quadruple...

The Saudi and UAE construction sectors contributed the most to their countries' GDPs, with around $45.5 billion and $36.8 billion, respectively, AMF report said.

Luxury segment is set to hit US$ 11bn by 2023 as retailers in the GCC are reporting increased sales due to rising inflation and consumer spending on basics, says a survey.

Khat, or qat, is a leaf which is packed into the cheek and slowly chewed, releasing chemicals similar to amphetamines and resulting in a mild high. It is very popular in Yemen and Horn of Africa countries like Ethiopia and Somalia.

Riyadh, Saudi Arabia--Saudi Arabia has invested some $6.12 billion in more than 6,000 projects in Egypt, according to the Minister of Trade and Industry of Egypt Ahmed Samir.  The trade minister announced the investment figure during his visit to Riyadh on Dec. 25, where he met Saudi ministers and senior...

Riyadh, Saudi Arabia - As many as 15 memorandums of understanding were signed between Saudi Arabia and Japan in several fields at the Saudi-Japanese Investment Forum on Tuesday. Organized by the Saudi Ministry of Investment, the Forum discussed investment opportunities and ways to strengthen the investment partnership between the two...

The deal allows for joint cooperation between the two.

Sustainability remains key focus as the UAE and Saudi Arabia speed up digitalization, which has been the fundamental pillar of the transformative economic goals of the GCC nations.

The firm signed PPA with the National Electric Grid of Uzbekistan.

Seeking to deepen energy ties, Saudi Arabia and Japan have signed two sets of cooperation agreements in the fields of hydrogen, fuel ammonia and carbon recycling. The agreements were the latest in Japan's efforts to develop its large-scale supply chains of hydrogen and fuel ammonia in the Middle East.

The Makkah Chamber of Commerce, Madinah Chamber of Commerce and the Islamic Chamber of Commerce will sign the agreement at the Makkah Chamber Center for Exhibitions and Events next Wednesday in presence of representatives from the 57 member countries of the Organization of Islamic Cooperation and several diplomats.

AL-MAHRA, YEMEN - The second batch of the new Saudi oil derivatives grant of 4,491,000 metric tons of diesel was delivered in Al Mahrah. The grant comes as part of the Kingdom's support for the Yemeni people under the directives of King Salman and the Crown Prince to help Yemen...

Through strategic investments in our vehicles, services, businesses and technologies, we are leading the way toward a cleaner, smarter and safer society, adds West, the Managing Director of OnStar Middle East Operations and Future Mobility General Motors Africa and Middle East.

In order to achieve the Vision 2030 goals, the PIF and its portfolio companies seek to help the kingdom grow its annual non-oil GDP by about seven percent.

SALIC had signed the acquisition pact in March.

High growth rates in the UAE and Saudi Arabia economies are positive indicators for consultancies, says Vijay Valecha, Chief Investment Officer, Century Financial.

Riyadh, Saudi Arabia-- Saudi Arabia's merchandise exports increased by 13.9 percent in October 2022 to SAR 120.7 billion ($32.10 billion), compared to SAR 106.0 billion in October 2021, according to the International Trade Report for October 2022 released today by the General Authority for Statistics (GASTAT).The rise was mainly due...

“E-commerce sales via marketplaces will continue to grow in double-digit percentages in 2023, driven by a higher proportion of cross-border shopping, and ongoing increase in the adoption of credit cards, and logistics services such as Aramex’s Shop & Ship, MyUS and DHL’s Easy Shop,” he adds.

Saudi Hassana will invest $2.4 bn in some of DP World's assets.

Tehran, Iran-- Iran's foreign minister said Wednesday he held a "friendly conversation" with his Saudi counterpart in Jordan, despite Tehran's repeated accusations that Riyadh has fanned months-long protests in the Islamic republic. Jordan hosted the "Baghdad II" conference on Tuesday, bringing together key Middle East and international players -- including rivals...

The high-density polyethylene complements its Trucircle range.

In all economic spheres from financial to commodities, credibility is a key ingredient to building the trust and confidence that lead to the stability of markets. Without credibility, markets become more volatile and less attractive for all types of participants, adds Prince Abdulaziz bin Salman.

Businesses in the region are working closely with their governments to get cloud security solutions implemented to reduce the success rates of phishing attempts.

The agreements included the establishment of the Saudi-Azerbaijan Joint Business Council.

The region was ranked the riskiest by the Global Risk Report Quarterly Update. But the GCC region stood out, offering some of the best supporting environments for investors.

During the tournament, Qatar was awarded the 2025 world table tennis championships and the opening race of the world endurance championship in 2024, adding to its packed sports calendar.

They will explore refining and petrochemical projects in China.

Saudi and the UAE equities beat sluggishness of the past few weeks, recording gains across many sectors, with Abu Dhabi index posting gains not seen since last October.

The regional panel, during its fourth meeting in Riyadh, reviews the implementation of the strategic plan to improve educational institutions in the bloc and their needs.

.Riyadh, Saudi Arabia---Saudi Arabia’s General Authority of Civil Aviation issued its monthly report on the performance of the kingdom’s international and domestic airports for the month of November 2022. The performance is based on 14 basic criteria such as waiting time at customs, baggage and passport control. In the category...

Dubai, UAE--– The central banks of Saudi Arabia, Bahrain, and Qatar increased their interest rates following the US Federal Reserve Board’s announcement today to raise the Interest on Reserve Balances (IORB) by 50 basis points. The Saudi Central Bank, known as Sama, the Central Bank of Bahrain and Qatar Central...

Housing rents rose by 5.4 percent, bringing the overall housing, water, electric, gas, and other fuels increase to 4.7 percent.

The deal is expected to boost capital markets in the region.

ALTAWKILAT is one of the largest automotive distributors in Saudi, with over 75 years of experience.

The Palestinian govt has no money to support would-be entrepreneurs, environment for foreign investors is too risky and the Israeli occupation makes condition worse, say experts.

Riyadh, Saudi Arabia---Saudi Arabia’s Real Estate Development Fund has launched a program to provide short and medium term financial facilities to real estate finance companies, which will in turn facilitate the kingdom’s initiative to provide affordable housing to its residents. The kingdom aims to raise the percentage of home ownership...

The plan reaffirms the UK’s enduring commitment to working with Saudi Arabia on promoting regional security and stability.

The confirmation of an increased participation of women in workplace comes months after the TOP CEO Conference held in May 2022 had highlighted its economic justifications.

Saudi Arabia's GDP witnesses 9.3 percent increase in the third quarter of this year as the rally in oil prices has fuelled economic growth across the Gulf region.

Dubai---Saudi Arabia's sovereign wealth fund, the Public Investment Fund, had acquired a 9.5 percent stake in Skyborn Renewables, an offshore wind developer and operator. In a statement, PIF said it is investing in Skyborn alongside Global Infrastructure Partners, a US-based infrastructure investment fund. The investment will allow PIF to participate...

Earlier on Monday, Jordanian-Saudi ministerial meetings were held to discuss bilateral cooperation in various fields.

Amman, Jordan— Jordan and Saudi Arabia held discussions on enhancing bilateral cooperation in various fields and boosting strategic ties between the two countries. The ministerial meetings were held as part of Prime Minister Bisher Khasawneh's working visit with a ministerial delegation, where he will meet with Saudi senior officials. Also...

The $1.5bn deal will herald a new energy transition phase.

Riyadh, Saudi Arabia—Saudi Arabia has signed a memorandum of understanding (MoU) with Kuwait on Sunday to develop Al-Durra gas field shared between the two countries. President and CEO of Saudi Arabian Oil Company Eng. Ali Bin Saleh Al Ajmi signed the MoU for the Saudi side, while CEO Kuwait Gulf...

The Gulf countries have highlighted the importance of coordinating and unifying the stances of the regional bloc in all international environmental forums.

Riyadh, Saudi Arabia---Saudi Arabia’s real gross domestic product grew by 8.8 percent in the third quarter of 2022 compared to the same period last year, driven by an increase in oil activities, according to a report released by the kingdom's General Authority for Statistics (GASTAT). GASTAT noted that the real...

The program aims to strengthen the strategic partnership between the two countries and contribute to ensuring the quality and safety of goods.

China has established comprehensive strategic partnership relations with 12 Arab countries separately, says Xi Jinping during Arab-China Summit in Riyadh.