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Category: Economy
Saudi Arabia has called on investors to seize the opportunity presented by its significant mineral wealth in the southwestern region, following geological surveys that have uncovered new deposits in substantial quantities. The authorities have revised the untapped mineral wealth of the Najran province upward by approximately 56 percent. According to Abdullah Al-Ahmari, an assistant to...
The winners of the Sharjah Excellence Leadership Award will be honored during a ceremony on the evening of Wednesday, July 2, at the Al Jawaher Reception and Convention Centre in Sharjah. This event is held under the gracious patronage of His Highness Sheikh Abdullah bin Salem bin Sultan Al Qasimi, the Deputy Ruler of Sharjah...
Abu Dhabi’s Yas Marina Circuit, known for its pivotal moments in Formula One history, recently became the backdrop for an ambitious racing sequence in F1 The Movie. Directed by Joseph Kosinski, famous for Top Gun: Maverick, the film’s finale was shot on location during a live race weekend in the UAE capital, blending the excitement...
The International Monetary Fund (IMF) has increased Saudi Arabia’s growth forecast for 2025 to 3.5%. This adjustment is driven by government initiatives and changes in the country’s oil production strategy. Saudi Arabia is actively pursuing growth through various government-led projects and a strategic easing of OPEC+ oil production cuts. Despite facing challenges such as lower...
The International Monetary Fund (IMF) has disbursed $834 million to Jordan in two tranches to aid the country’s economic initiatives. This funding includes an immediate access of $134 million following the completion of the third review of Jordan’s External Fund Facility (EFF), which supports Amman’s economic program. Additionally, the IMF approved an extra $700 million...
JAGGAER has unveiled its latest innovation, JAI, an intelligent human-guided AI orchestrator designed to revolutionize enterprise procurement. Officially introduced in Dubai, United Arab Emirates, on June 25, 2025, JAI promises to enhance supply chain management by offering advanced guidance and navigation, positioning itself as not just an assistant but a valuable partner for procurement teams....
Tawasul Transport, in partnership with Al Maryah Community Bank (Mbank), has introduced the first digital payment system for taxis in Abu Dhabi, utilizing AE Coin, a stablecoin linked to the UAE dirham. This initiative represents a global first, as it deploys a government-regulated stable digital currency specifically for public transport fares. The launch was executed...
Fitch Ratings has affirmed the United Arab Emirates’ long-term foreign-currency issuer default rating at AA- with a stable outlook. Earlier this week, the agency also confirmed Abu Dhabi’s rating at AA, maintaining a stable outlook for the emirate as well. The AA- rating is reflective of the UAE’s moderate consolidated government debt, strong net external...
The Michelin Guide is officially coming to Saudi Arabia, marking a significant addition to the renowned culinary publication. The inaugural list of recommended restaurants will primarily highlight the cities of Riyadh and Jeddah, although it may also feature dining establishments in other areas of the kingdom, such as Khobar and Alula. The unique aspect of...
Saudi Arabia is making significant strides in the gaming industry, particularly with Steer Studios, a company under the Savvy Games Group investment arm established in 2022. The nation is set to host the Esports World Cup next month, which is the largest gaming tournament globally, boasting an impressive prize pool of $70 million. This event...