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…
QatarEnergy seals a $6bn deal with China for the construction of 18 mega LNG vessels, marking the industry’s largest single shipbuilding contract. QatarEnergy and China State Shipbuilding Corporation (CSSC) inked a $6 billion deal on Monday for the construction of 18 QC-Max liquified natural gas vessels, the largest of their kind. The signing took place…
RIYADH: Around 1,000 leaders from 92 countries will convene in Riyadh for the World Economic Forum’s Special Meeting on Global Collaboration, Growth and Energy for Development on Sunday and Monday.Building on the inaugural Growth Summit in Switzerland last year, the Riyadh meeting will, according to the WEF, “promote forward-thinking approaches to interconnected crises, while remaining…
• Dubai ranked 1st in MEASA region and among the world’s top 22 cities in terms of wealthiest population centres in 2023 with over 68,500 HNWIs.• His Excellency Addullah bin Touq Al Marri, Cabinet Member and UAE Minister of Economy, DIFC leadership and leading Family Businesses convene to mark DIFC Family Wealth Centre 1-year anniversary.•…
