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Alibaba Cloud selects KAFD as key launchpad
Since the launch of Vision 2030, Saudi Arabia is undergoing a massive socioeconomic transformation. The Kingdom has swung open its door to foreign investors so that they can take advantage of the opportunities available in all sectors.…
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Capital market institutions post record revenues and net profit, CMA official reveals
Companies authorized by Saudi Arabia’s Capital Market Authority posted record profits in 2022, with a cumulative total of SR60.34 billion ($16.08 billion) – a 39.17 percent increase on the previous year.
Figures released by the CMA’s…
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Egypt eyes joint industrial ties with Turkiye
Egypt and Turkiye are confident of a breakthrough in levels of industrial cooperation following talks between senior ministers.
Ahmed Samir, the Egyptian minister of trade and industry, met with Mehmet Fatih Kacir, the Turkish minister…
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Qatar real estate booms with deals worth $48m recorded in last week of July
Qatar’s real estate sector is witnessing increased business activities with the volume of total sale contracts signed during the last week of July reaching 175.52 million Qatari riyals ($48 million), the latest data from the Real Estate…
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UAE’s non-oil economy remains strong in July as PMI stands at 56
The UAE’s non-oil economy witnessed strong growth at the beginning of the second half of 2023, with companies increasing their hiring and buying activities, despite a softer upturn in sales, an economic tracker revealed.
According to the…
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Saudi Arabia and Kuwait reaffirm exclusive ownership of natural resources in Al-Durra gas field
Saudi Arabia and Kuwait on Wednesday reaffirmed that ownership of the natural resources in the divided submerged area in the Arabian Gulf, including the entire Al-Durra field, is joint ownership between the two countries.
The Kingdom’s…
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Talks continue on free trade deal set to boost UK-GCC commerce by 16%
Commerce between the UK and Gulf Cooperation Council economies is likely to jump 16 percent with the signing of a free trade agreement, according to a British government press release.
The two sides made good progress during the fourth…
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Saudi Arabia, Iraq trade exchange volume hits $243m in H1
The volume of trade exchanged between Saudi Arabia and Iraq over land hit SR913 million ($243 million) during the first six months of 2023, as commercial traffic at the Arar border crossing saw a significant jump over the past two years.…
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Saudi health insurance set to cover 90% of population this year, says industry regulator
The number of Saudis signing up to health insurance schemes hit 11.46 million in the second quarter of 2023, up 5 percent on the same period last year, according to the latest figures.
The Council of Health Insurance’s quarterly bulletin…
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Saudia to acquire 20 Airbus A321neo aircraft by 2026
As part of its drive to meet growing demand, the Kingdom’s national carrier Saudia plans to add 20 fuel-efficient Airbus A321neo aircraft to its fleet by 2026.
The aircraft carry 180 to 220 passengers in a conventional two-class interior…
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