Saudi Arabia Records 16.6% Increase in Non-Oil Exports: Saudi Arabia recorded a 16.6% increase in its non-oil exports for August. The numbers were recently released, with total non-oil revenue peaking at over $7 billion. This is coming after Saudi Arabia recorded a 31% increase in its non-oil
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Bahrain Signs Ground-breaking Agricultural Agreement with Israel : Over the past year, Bahrain has successfully turned global attention to its territory. The Middle Eastern country attracted an FDI of $921 million in the first nine months of this year and recorded a whopping $88 million revenue surplus in the first half of this year. Bahrain […]
Saudi Arabia is Set to Allocate $266 Million to Supply Chain Investors: The Kingdom of Saudi Arabia has made another significant move to up its economic game by introducing the Supply Chain Initiative. This move aims to place the country on a new level of financial and commercial development, reinforcing its place as one of […]
Saudi Arabia Begins Extensive Work on its Vertical City – The Line Saudi Arabia has topped its efforts to birth a sustainable planet Earth by beginning the construction of its vertical city – the Line. The city is one of the many projects the kingdom has initiated in its climate action endeavours to achieve its […]
The UAE recently declared a cancellation of all business license fines where such licenses have been delayed or terminated. Small and Middle Enterprises can now rest assured that upon late renewal or expiration of their business licenses, they will not have to pay a fee for their oversight. The same applies to companies within the […]
Saudi Arabia recently announced its intent to provide $400 in humanitarian aid to Ukraine to mitigate the effects of the ongoing war. This support follows significant accusations in Saudi Arabia for politicizing oil production after the proposed reduction by OPEC+ members. Why Did Saudi Arabia See the Need to Provide Humanitarian Support in Ukraine The […]
In a bid to advance respective national development, the UAE and Russia have initiated bilateral cooperation to boost the tourism sector, trade volume, and economic development. This move comes at a time when both countries are working eagerly to ensure regional security and stability. All You Need To Know About The Bilateral Development Sheikh Mohammed […]
Following the OPEC+Â announcement for countries to reduce oil production to two million barrels daily, Saudi Arabia has moved to cut down its oil production. This move comes a little after the President of America, Joe Biden, visited the country to request for oil production increase. What are the Specifics of the Oil Cut In a […]
A physical Bitcoin (BTC) ETP is set for debut in Dubai. This unprecedented move aims to attract investors and further boost the Middle East’s keenness and receptiveness of cryptocurrency and other related products. What are the Details of the Listing? Cryptocurrencies are traditionally known for their digitalized and intangible nature, hence their widespread appeal.
Dubai recently announced that the General Directorate of Residency and Foreigners Affairs (GDRFA) would provide all its services through online platforms, specifically biometric authentication. As soon as all things necessary are put in place, residents can steer clear of physical verification processes when going in and out of the country. Why has Dubai Implemented a
Why Tech Companies in the Middle East Are Making Esgs a Priority Today : Environmental, Social and Governance (ESG) investments have gained momentum across companies. The principles offered by ESGs have helped investors and CEOs maintain a conscientious approach to running their companies. These principles are achieved by presenting a form of investment that prioritizes
The Public Investment Fund (PIF) of Saudi Arabia has officially executed its first green bond issuance. The sovereign wealth fund announced that it raised about $3 billion from the issuance, and the proceeds will be used to fund sustainable projects. The PIF sold 100-year green bonds at a yield of about 6.7%. However, two other […]
The Arabian Gulf region is expected to play a lead role in enabling Milestone Systems to more than double its global revenue in the next 5 years as the region quickly embraces and deploys smart video technology on an immense scale. In an exclusive interview with MENews247 at the Milestone Partner Summit (MIPS 2022) held […]
Days ago, the Saudi Arabian and Qatari governments reviewed a joint business strategy targeted at the private sector. Khalid Al-Falih, Saudi Arabia’s Minister of Investment, engaged members of the Saudi-Qatari Business Council on the progress made regarding establishing strong private-sector ties in both countries. The meeting was held in the headquarters of the
Remittance is the sending of money by a migrant to his home country via electronic transfer, cheques, or drafts. In 2019, about 800 million people in the world received remittances. However, even though many people are recipients of international remittances, the industry is still fraught with issues that do not make international remittances as beneficial as […]
Bahrain Attracts $921 Million FDI in the First Nine Months of 2022 : Bahrain recently announced that it attracted $921 million in Foreign Direct Investment over the first nine months of this year. The Bahraini Economic Development Board (EDB) made a detailed announcement last week. This development comes after Bahrain recorded an $88 million revenue surplus in the […]
Saudi Arabia’s futuristic megacity, Neom, has announced its $1 billion ($3 billion) investment in the metaverse. The megacity’s subsidiary, Neom Tech & Digital (which has now rebranded to Tonomus), executed the investment. According to the company’s CEO, Joseph Bradley, a significant proportion of Neom would be dominated by robots and elements of the
Saudi Arabia has announced plans to invest heavily in the gaming industry. The investment will reportedly be funded through the Savvy Games Group, a company wholly owned by the Saudi Arabian Public Investment Fund (PIF). Earlier this year, the Saudi Arabian government launched the Savvy Games company as a strategy to boost the country’s presence in the […]
The UAE’s Ministry of Economy recently announced the launch of its third address after its Dubai and Abu Dhabi branches. However, this launch is particularly interesting because, unlike the other two addresses, the most recent one is a virtual branch based in the Metaverse. The Ministry announced this development at the recently concluded Dubai Metaverse Assembly.
Acronis, a global leader in integrated data protection and cyber security, is banking on its all-new Cyber Protect Cloud platform to safeguard the GCC region from growing ransomware attacks – which proved to be the number-one threat to large and medium businesses, including government, healthcare and other critical organisations – in H1 2022. Acronis Cyber […]
