DP World has published a Sustainable Development Impact Disclosure (SDID), making it the first company globally to adopt and disclose on its development impact in countries of focus in accordance with the recently released impact disclosure guidance from the Impact Disclosure Taskforce. DP World invited industry participants and practitioners to share their feedback during a…
RIYADH: Saudi Arabia will host the annual meetings and golden jubilee celebrations of the Islamic Development Bank Group in Riyadh between April 27 and 30, under the patronage of King Salman. This year’s meetings will take place under the theme “Taking Pride in Our Past and Shaping Our Future: Authenticity, Solidarity and Prosperity,” the Saudi…
RIYADH: The World Bank has raised its expectations for Saudi Arabia’s economic growth to 5.9 percent in 2025 from 4.2 percent predicted earlier in January. In its latest report the bank, however, revised its 2024 forecast for the Kingdom’s gross domestic product growth downward to 2.5 percent from an earlier forecast of 4.1 percent. Concurrently,…
Speculators and holiday homeowners who used their Dubai properties just a couple of times in a year are increasingly opting to rent for full-year it out to benefit from the spike in rental returns. “With the increase in rentals, long-term speculators or holiday home owners who come twice a year to Dubai to their holiday…
RIYADH: Payments made through point-of-sale terminals in Saudi Arabia experienced a notable 20 percent annual increase in February, totaling SR53.72 billion ($14.33 billion), the latest data showed. According to data released by the Saudi Central Bank, the largest portion of POS spending in February was allocated to beverages and food, comprising 15.7 percent of the…
ISTANBUL: Turkiye’s flagship carrier, Turkish Airlines, has resumed flights to Libya’s capital, almost 10 years after they were suspended over security concerns in the conflict-torn country.The airline’s chief executive, Bilal Eksi, attended a ceremony at Mitiga International Airport to mark its first flight to Libya since 2015.“We are delighted to start flights again to Libya,…
BERLIN: Germany’s Lufthansa on Wednesday said after careful evaluation it decided to suspend flights to and from Tehran until probably Thursday, April 11, “due to the current situation in the Middle East.”“We are constantly monitoring the situation in the Middle East and are in close contact with the authorities. The safety of our guests and…
Dubai: UAE residents planning a getaway after the Eid Al Fitr holidays can expect fares to major holiday destinations, including European and Indian destinations, to drop by at least 60 to 70 per cent.
Oman’s foreign minister on Sunday called for de-escalation during a visit by his Iranian counterpart who started a regional tour in Muscat where he met a spokesman for Yemen’s Houthi rebels.The visit by Iranian Foreign Minister Hossein Amir-Abdollahian came almost a week after an air strike in Damascus levelled the Iranian embassy’s consular annex and…
Qatar’s business sector will see a series of events kick off this year organised by IFP Qatar that aims to promote trade relations within the Gulf state. The series of events set to be hosted are the Qatar CSR Summit, which will open its doors on April 30, followed by Project Qatar on May 27,…
