RIYADH: An ambitious roadmap setting out how Saudi Arabia will grow its aviation sector tenfold into a $2 billion industry will be unveiled at a special event in May. The plans cover the business jet segment, including charter, private, and corporate aircrafts, and will support Saudi Arabia’s development as a global high-value enterprise and tourist…
Liam Findlay, CEO of Miral Destinations, a subsidiary of Miral and the operational partner for Yas Island and Saadiyat in Abu Dhabi, affirmed that Yas and Saadiyat Islands are enhancing Abu Dhabi’s leading position on the world’s best tourist destinations list. Findlay stated to the Emirates News Agency (WAM) on the sidelines of the Arabian…
DP World this morning welcomed A.P. Moller – Maersk’s (Maersk) first large vessel that can run on green methanol for the very first time at Jebel Ali Port. Ane Maersk underscores Maersk’s ambition to achieve net zero greenhouse gas emissions by 2040. Serving the AE7 string, which connects Asia and Europe, Ane Maersk arrived in the…
Gold prices were steady in the UAE on Wednesday morning after losing half a dirham per gram on Tuesday. As of 9am, UAE time, the 24K variant of the precious metal was trading at Dh280.75 per gram in Dubai while 22K, 21K and 18K were trading at Dh260, Dh251.75, and Dh215.75 per gram, respectively. Terence…
RIYADH: Hong Kong and Chinese companies are gearing up for substantial investments in the Saudi market, marking a significant step toward strengthening economic ties, a top official said. A delegation of 30 business leaders from Hong Kong and mainland China is set to explore diverse sectors in the Kingdom, propelled by the ambitious Vision 2030…
RIYADH: Saudi Arabia’s non-oil private sector continued its growth momentum in April, driven by strong demand conditions across domestic markets, as indicated by an economic tracker. The Kingdom’s Purchasing Managers’ Index in April remained unchanged at 57 compared to March, signifying a flourishing non-oil economy in the country, according to the Riyad Bank Saudi Arabia…
The Ministry of Investment of the UAE and the Ministry of Digital Technologies of the Republic of Uzbekistan have signed an investment memorandum, establishing a framework for investment cooperation in digital infrastructure with a focus on data centre and artificial intelligence projects in Uzbekistan.The memorandum was signed by Mohamed Hassan Alsuwaidi, Minister of Investment, and…
RIYADH: US electric vehicle manufacturer Lucid Group and Saudi Arabia’s King Abdulaziz City for Science and Technology have inked a pact to boost EV technology development within the Kingdom. As part of the deal, the California-based firm, in which Saudi Arabia’s Public Investment Fund holds a significant stake, will collaborate with KACST on joint research, utilizing the institute’s services,…
Saudi Arabia’s real gross domestic product saw a 1.3 percent rise in the first three months of this year compared to the previous quarter, official data showed. According to the General Authority for Statistics, this rise in real GDP was propelled by oil and non-oil activities which increased by 2.4 percent and 0.5 percent during the period, respectively. …
A Syrian man and an aid organization have accused Russia of violating international law by deliberately bombing a hospital in northern Syria in 2019, in a new complaint filed at the United Nations Human Rights Committee this week. Russia, which intervened militarily in Syria’s conflict in 2015 to bolster the forces of its ally President…
