The 2022 Mercer CFA Institute Global Pension Index compares 44 retirement income systems against more than 50 indicators and benchmarks.

The company also announced the winning products of the Co-Innovation Award, the launch of the first Local Technology Guide in the Middle East and North Africa.

Since June 2022, when the first Liv Golf tournament funded by Public Investment Fund was played, nine golfers in the top 40 ranking have joined Liv Golf.

Saudi Crown Prince, Prime Minister and Chairman of the Council for Economic and Development Affairs Prince Mohammed bin Salman bin Abdulaziz announced the launch of the Global Supply Chain Resilience Initiative. GSCRI aims to make Saudi Arabia a location of choice for leading global industrial companies looking to improve business...

The visit is expected to last a few hours on Nov 14, and the Saudi Crown Prince and the Indian PM Narendra Modi are expected to depart for Bali to attend the G-20 summit, The Hindu reported and added that India’s foreign minister S Jaishankar had conveyed Modi’s invitation to...

The Future Investment Initiative (FII) was launched in 2017 as an economic coming-out party for the world's largest crude exporter, which is trying to diversify away from oil.

Riyadh, Saudi Arabia— Saudi Media Minister Majid Al-Qasabi has called for developing a trust-based road map with clear mechanisms to advance joint Islamic action. The minister was speaking at the 12th session of the Islamic Conference of Information Ministers of the Organization of Islamic Cooperation in Istanbul on Saturday. He...

Riyadh, Saudi Arabia—The GCC has unveiled the Gulf Center for Disease Prevention and Control in Riyadh to enable the prevention of diseases, mitigate public health emergencies, and promote healthy communities across the Gulf. The GCC health ministers and GCC Secretary-General Dr. Nayef Al-Hajraf were present at the event. The ministers...

Traditionally, GCC trade was focused on the West. However, now it is moving to the East. This eastward shift is not too surprising given the continuing travails of many developed Western economies. With the sluggish recovery from the financial crisis in the EU and the US, Gulf economies have had...

The fear of the global organizations such as International Energy Agency that the OPEC+ decision would increase energy security risks worldwide, leading to higher prices and volatility, and potentially ending up being the tipping point for a global economy was proved wrong, he adds.

The conflict erupted in 2014 when the Huthis seized the capital Sanaa, prompting the Saudi-led coalition to intervene the following year to prop up the internationally recognised government. Hundreds of thousands of people have died as a direct or indirect result of the conflict, according to the United Nations, which...

The total revenue in Q3 ended Sept reached AED156.11 million

Riyadh, Saudi Arabia--Aramco said on Thursday it has launched Taleed program to accelerate the growth of Small and Medium Enterprises (SMEs) in Saudi Arabia, boost their contribution to economic development and support job creation. In a statement, Aramco said the program targets sustainable SME growth across multiple sectors through a...

Riyadh, Saudi Arabia---Saudi Arabia’s National Center for Debt Management announced Wednesday that it has invited investors for the first partial repurchase of US dollar-denominated bonds due in the years 2023, 2025 and 2026. The Center said the process is part of the kingdom’s plan in the effective management of the...

The strategy aims to diversify the kingdom's economy and increase GDP and non-oil exports by promoting industry and attracting investment.

Beyond oil and gas, Gulf companies have made some strategic investments in sectors with strong potential for growth, including fintech, e-commerce and logistics. For example, in 2020, Saudi fintech startup Tamara established operations in Vietnam, and the UAE's B2B e-commerce provider Distichain set up a base in Singapore.

Nearly 32 percent of respondents to a TRENDS poll saw metaverse as a good investment for GCC businesses, as two biggest economies in the region invest heavily in this sector.

The yards will more than triple Saudi offshore fabrication capacity.

The announcement comes after the IMF affirmed that the Kingdom's economic prospects are positive in the short and medium term.

Rallying behind Saudi Arabia, several Arab states have voiced their support for Saudi Arabia in the face of harsh criticism from the US over the kingdom’s decision to cut oil output. From the UAE to Oman, Algeria to Bahrain, the governments have condemned what they termed as the politicizing of...

The organizer said he did not want the gathering "to become a political platform". The decision not to invite American officials, a departure from previous years, comes as tensions rise between longtime partners Washington and Riyadh over the Saudi-led OPEC+ cartel's recent vote to cut oil production.

Riyadh, Saudi Arabia---Saudi Arabia will target 11 new decisions for Emiratisation program in project management, procurement, food and drug sectors before the end of 2022, said Ahmed bin Sulaiman Al-Rajhi, the Minister of Human Resources and Social Development. During his meeting with businessmen and women at the Chamber of Commerce...

The forum targets GCC entrepreneurs and business incubators and accelerators and financing institutions in GCC.

US National Security Advisor Jake Sullivan told CNN on Sunday that Biden would "act methodically, strategically" in re-evaluating US-Saudi relations, adding that the US leader had "no plans" to meet the crown prince at a November G20 summit in Indonesia. Russell Lucas, a Middle East expert at Michigan State University,...

The stock rose after the transfer of its subsidiary to the PIF.

Stormy US-Saudi relations have seen new strain over Riyadh's recent support for oil production cuts, with Biden warning of unspecified "consequences." The move last week by OPEC+ -- composed of the Riyadh-led OPEC cartel and a group of 10 exporters headed by Russia -- would reduce global output by up...

Riyadh, Saudi Arabia-- Saudi Arabia's Deputy Minister of Industry and Mineral Resources for Mining Affairs Khalid bin Saleh Al-Mudaifer said Sunday that the kingdom aims to establish a world-class business system in cooperation with South Africa, which he said was the most suited partner for achieving these goals. In his...

The agreement would result in partnership in encouraging direct investment, communications and information technology, exploring the establishment of a joint investment fund between the two nations.

Chemical companies in the Gulf region are likely to cope relatively well with the current stresses of rising rates and higher energy costs, says a recent report.

Riyadh, Saudi Arabia—Saudi Arabia’s Ministry of Industry and Mineral Resources has issued 52 new mining licenses in August 2022, according to a statement. Out of the total, 18 were to build material quarries, 21 were exploration licenses, three exploitation licenses, and five survey licenses, according to the Ministry’s National Industries...

The Saudi developer will offer 20% of its shares on Nomu.

Continuing with the kingdom's role to support "everything that will contribute to de-escalation," Saudi Arabia has announced $400 million in aid for Ukraine. Saudi Crown Prince Mohammed bin Salman spoke to President Volodymyr Zelensky by phone, conveying the kingdom's eagerness to support mediation.

Saudi Aramco, one of the world's richest companies, will sponsor the International Cricket Council's upcoming men's and women's T20 World Cups and next year's one-day World Cup in India under a partnership deal. The partnership to run until the end of next year "will connect Aramco with a global cricket...

Close to 200 years after the business hub of New York City was named as downtown, the word has entered the lexicon of business and commerce in the Middle East, with many areas being referred to by it.

Riyadh, Saudi Arabia---The Saudi Arabia's Camel Club and Riyadh Chamber of Commerce have signed an MoU to develop and create investment opportunities in the camel sector. The MoU, which was signed in presence of Executive Director of the Camel Club, Engineer Bandar Al-Qahtani and Vice Chairman of the Board of...

The company is raising capital to support the ongoing expansion in the UAE and Oman, and pending entry into Saudi Arabia, Dr Parambath said.

A few days after US President Joe Biden said that there would be consequences for Saudi Arabia on its decision to cut oil production target, the kingdom today said that the OPEC+ decision was unanimous and took into account the balance of supply and demand. The kingdom rebuffed statements criticizing...

The 13-nation OPEC cartel and its 10 allies headed by Moscow angered the White House last week with its decision to cut production by two million barrels a day from November, raising fears that oil prices could soar.

Most of the respondents in the poll feel that GCC will weather the gathering economic storm and come out unscathed, a view corroborated by the IMF and the World Bank.

About 42.6 percent of jobs in the region will be automated by 2030, ahead of the global average of 32 percent, predicts a McKinsey report.

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.

Luxury goods business in the MENA region is seeing a reorganization, surprising market experts, as homegrown brands challenge the hegemony of high-end Western labels.

Riyadh, Saudi Arabia-- Saudi Arabia's Industrial Production Index in August 2022 increased by 6.8 percent compared to August 2021. The IPI continued to show a positive growth rates due to the high production in mining and quarrying, manufacturing activity, and electricity and gas supply, SPA reported. In August 2022, mining...

A Saudi Arabian delegation led by Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha is on a visit to Oman.

The Saudi firm's net profit rose 10% to $372m.

Riyadh, Saudi Arabia - Remittances from expatriates in Saudi Arabia saw a 13 percent year-on-year (YoY) decline to SAR 11.92 billion ($3.15bn) in August, according to recent data released by the Saudi Central Bank (SAMA). On a month-on-month (MoM) basis, remittances from expats in Saudi Arabia rose 3 percent %,...

High oil prices drove equities up on both the Abu Dhabi Stock Exchange and the Dubai Financial Market, but Saudi equities did not follow the trend, remaining subdued toward the close of the week.

Seeking to debunk the impression that it was somehow behind the rise in oil prices in the US, Saudi Arabia has said that it did not politicize oil or oil decisions and that it looked at oil as a commodity important to the global economy in which the kingdom had...

From Formula One racing to the football World Cup, the top-notch global sporting events are coming to Middle East, bringing with it billions of dollars in sports tourism.

While Saudi Arabia has said it does not use oil as a political tool, US experts see this as a direct rebuff to the Biden administration.