Saudi Arabia has achieved a significant milestone in its tourism sector, with inbound tourist spending surpassing $37 billion (SAR 135 billion) in 2023. This marks a record-high in the Kingdom’s history, reflecting a 42.8% increase compared to the previou...

Saudi Arabia is set to expand its logistics infrastructure with a new agreement between the Saudi Ports Authority (Mawani) and Aljeri, a leading logistics company. This $42 million deal will facilitate the construction of two advanced logistics zones with...

Apple is set to open its iPhone’s NFC payment chip to third-party developers, marking a significant shift in how the company handles contactless payments. Starting with the release of iOS 18.1 later this year, third-party developers will be able to integr...

The Gulf states have long been perceived as part of a volatile region often characterized by conflict and instability. However, a closer look reveals a much different narrative, one where economic growth and strategic diplomacy have enabled these nations...

Saudi Arabia is set to inject $1 trillion into its economy by 2030, aiming to transform the nation’s economic landscape. This ambitious investment is part of Crown Prince Mohammed bin Salman’s Vision 2030, a strategic framework designed to reduce the coun...

Salalah Port, a key logistics hub in Oman, is bracing for a significant decline in container volumes as the Red Sea crisis continues to disrupt global maritime trade. The port is expected to see a 25% drop in container throughput for the remainder of 2024...

Islamic insurers in Saudi Arabia and the UAE are poised for a wave of mergers and acquisitions, driven by regulatory changes and market conditions that favor consolidation. The Saudi Arabian Monetary Authority (SAMA) and the Insurance Authority in the UAE...

AD Ports Group has completed its acquisition of a majority stake in the Tbilisi Dry Port, further expanding its global logistics network. This strategic move solidifies the company’s presence in the Caucasus region and marks a significant step in its ongo...

Singapore’s DBS Bank is taking a significant step to enhance its presence in the Middle East by expanding its operations in Dubai. As part of a strategic five-year plan, the bank aims to double its team of private bankers in Dubai and boost its revenue by...

Gaza ceasefire negotiations resumed in Doha, with key stakeholders converging to discuss a truce between Israel and Hamas. These talks come at a time of heightened tensions, particularly as Iran closely monitors the developments, with potential implicatio...

Arada, the UAE-based real estate developer, is set to make its mark in Australia with an ambitious project in Sydney, marking its first international venture. The move comes as Australia faces a housing crisis, with demand outstripping supply, particularl...

Abu Dhabi’s initiative to broaden the scope of its freelancer licence has introduced 30 additional activities, aiming to enhance opportunities for skilled professionals across various fields. The Abu Dhabi Business Centre (ADBC) made the announcement, whi...

Negotiations to address the ongoing conflict between Israel and Gaza are gaining momentum as high-level talks are scheduled to commence in Doha. The planned discussions, involving representatives from the United Nations, the United States, and Qatar, aim...

Iran’s new Oil Minister, Javad Owji, is confronting a complex landscape of regional conflicts and international sanctions that threaten to hinder the nation’s energy sector. Appointed to the role in August, Owji faces a dual challenge: revitalizing Iran’s...

RIYADH: King Abdulaziz Port in Dammam is strengthening its global trade position with a newly introduced shipping service that links Saudi Arabia more efficiently with major ports in India and China. The General Authority for Ports, known as Mawani, has u...