Author: Steven Sahiounie

RIYADH: Saudi Arabia is working to launch a national strategy for space and a space company that will allow for comprehensive government investment and private sector contribution to the field, said the minister of communications and information technology. Speaking at a press conference on the sidelines of LEAP, Abdullah Al-Swaha said the Kingdom is making significant strides in the fields of space exploration and women’s empowerment. He said after sending the first Arab Muslim woman to the international space station, the Kingdom is now looking to the next phase of its development in this sector. There are two main phases that…

RIYADH: Saudi Arabia’s Tadawul All Share Index concluded its Wednesday trading at 12,561.90 points, marking an increase of 91.75 points or 0.74 percent. 

RIYADH: The UAE’s non-oil private sector expanded in February as it delivered the strongest output growth since June 2019, according to S&P Global’s purchasing managers’ index report.

RIYADH: Investors in Saudi Arabia will benefit from a new license aimed at reducing the bureaucracy involved in getting construction projects off the ground.

PARIS: TotalEnergies and Qatar’s oil company on Wednesday said they would buy a stake in a license to seek oil and gas off South Africa as part of their plans to develop the Orange Basin area in neighboring Namibia. 

RIYADH: Saudi Arabia’s global logistics services are set to improve following the launch of a new system by the Kingdom’s maritime body, which aims to provide over 250 e-services at its ports.

 CAIRO: Egypt secured an additional $5 billion in loans from the International Monetary Fund on Wednesday after the central bank raised interest rates and allowed the pound to plunge in value by nearly 40 percent.

CAIRO: Egypt’s central bank said on Wednesday that it had hiked interest rates by 600 basis points at an unscheduled meeting and that it would allow the exchange rate to be set by market forces as it shifted to an inflation targeting regime.

RIYADH: Qatar’s trade balance showed a surplus of $14.9 billion in the fourth quarter of 2023, marking an annual 31.5 percent decrease, according to official data.

RIYADH: Saudi Arabia and the UAE now represent over 90 percent of the green bond market across the Arab region, according to a leading finance official.