K Raveendran The UAE and Saudi Arabia, the Middle East’s two powerhouses, are engaged in a no-holds barred competition to claim the coveted title of the region’s business and financial capital. Until some time back, the UAE had virtual monopoly in this regard, with Dubai remaining unchallenged as a magnet for foreign investments. But things have changed of late as Saudi Arabia has embarked on a new […]
SINGAPORE – Media OutReach Newswire – 12 March 2024 – Poddster, a pioneering network of video podcast production studios that empower the podcasting community, has established its Asian headquarters in Singapore as the company embarks on its international expansion. The Poddster location at Frontech Center in Bukit Merah is the company’s first to open outside of Dubai. The state-of-the-art 4,000 square-foot venue includes four large professional studios […]
Arabian Post Special The news of Saudi Aramco and Abu Dhabi National Oil Company (Adnoc) exploring investments in the US liquefied natural gas (LNG) sector signifies a potential power shift with significant ramifications for established players in the business and future market dynamics. This foray into US LNG comes at a time when American banks are increasingly hesitant to finance domestic LNG producers due to environmental concerns. […]
RIYADH, SAUDI ARABIA – Media OutReach Newswire – 7 March 2024 – Sahm Capital Financial Company, a leading brokerage firm licensed by the Saudi Capital Market Authority (No: 22251-25), showcased its all-in-one comprehensive trading solutions at booth H1A.C100 in LEAP 2024, a global technology event taking place in Riyadh. Throughout the four-day event, Sahm Capital also unveiled its latest AI-generated solutions, featuring an AI presenter named ‘Aliyah’, […]
In a move to solidify its presence in the UAE’s agricultural sector, Ghitha Holding, a subsidiary of the massive Abu Dhabi-based conglomerate International Holding Company (IHC), has acquired an additional 12% stake in Al Ain Farms for Livestock Production. The deal, valued at AED 61 million (roughly $16.6 million), was announced on Friday through a filing on the Abu Dhabi Securities Exchange (ADX). This acquisition is being […]
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Arabian Post Special Dubai, long a haven for international finance with its tax-friendly policies, has shaken things up with a new law imposing a 20% annual tax on foreign banks operating within the emirate. This move marks a significant shift and has far-reaching implications for both Dubai’s financial landscape and the strategies of foreign banks in the region. One key aspect of the law is its targeted […]
James M Dorsey The Gaza war has turned Palestine into a lightning rod for mounting frustration and discontent in Arab autocracies such as Egypt, Jordan, Tunisia, Algeria, and Morocco. Concerned that the war could mobilise segments of civil society, Saudi Arabia and the United Arab Emirates where any form of public protest is banned, have cracked down on expressions of solidarity with Gaza, including the sporting of […]
Microsoft has announced the establishment of a Center of Excellence in Saudi Arabia, aiming to equip the nation’s workforce with the latest digital skills and empower them to contribute to the country’s ambitious digital transformation goals. This initiative aligns with Saudi Arabia’s Vision 2030, a strategic framework that emphasizes economic diversification and technological advancement. Turki Badhris, President of Microsoft Arabia, emphasized the company’s commitment to empowering Saudi […]
New Funds to help BRKZ establish as a One-Stop-Shop for the construction sector and expand its footprint across Saudi Arabia and the MENA region Riyadh, Saudi Arabia – March 6, 2024 /MarketersMEDIA/ — BRKZ, a trailblazing construction tech startup, has successfully secured $8 million in Series A funding to revolutionize the building materials sector across Saudi Arabia and the broader Middle East and North Africa (MENA) region. […]
Saudi Tourism Authority reinforcing its presence in Malaysia with its recent inaugural in-person trade roadshow, engaging with key partners across the country KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 6 March 2024 – Saudi Tourism Authority (STA) unveiled a series of initiatives during its trade roadshow held at the Westin Kuala Lumpur on the 4th of March with 18 Saudi stakeholders including DMCs, hotels, transportation partners […]
HONG KONG SAR – Media OutReach Newswire – 5 March 2024 – Hong Kong Science and Technology Parks Corporation (HKSTP) has kicked off the first leg of a landmark delegation with the Innovation, Technology and Industry Bureau (ITIB) and Hong Kong Cyberport (Cyberport) to the Middle East. Together with eight Park companies and first stopping at LEAP 2024 in Riyadh, Saudi Arabia, HKSTP is on a mission […]
Saudi Arabia’s Public Investment Fund (PIF), the kingdom’s sovereign wealth fund, announced a strengthened partnership with Mumtalakat, the sovereign wealth fund of Bahrain, on Tuesday. This move signifies a commitment to fostering economic cooperation and exploring new investment opportunities within the island nation. The agreement, formalized through a memorandum of understanding (MoU), outlines a framework for collaboration across various sectors. This includes identifying and pursuing promising investment […]
LEAP 2024, the world’s most-attended tech event, is gearing up to gather industry leaders, tech enthusiasts, and aspiring entrepreneurs for its four-day extravaganza. With over 1,800 leading tech companies, 600+ startups, and 1,100+ renowned speakers on board, LEAP promises an unparalleled experience for attendees seeking to explore the latest advancements, forge valuable connections, and gain insights into the future of technology. Learning and Inspiration: LEAP serves as […]
Saudi Arabia’s domestic mergers and acquisitions (M&A) market has witnessed a significant boom in recent years, according to a report by Preqin, a global alternative assets data provider. The report highlights a staggering sixfold increase in the number of domestic deals between 2018 and 2023. This surge reflects growing investor confidence and a maturing domestic business environment in the Kingdom. The report attributes this upsurge to several […]
Saudi Arabia’s newest airline, Riyadh Air, has partnered with software giant Adobe to personalize the travel experience for its global customers. This strategic collaboration aims to leverage Adobe’s Experience Cloud platform, specifically the Real-Time Customer Data Platform (CDP) and Sensei GenAI capabilities, to cater to individual traveler preferences across the entire travel journey. Through this partnership, Riyadh Air seeks to offer a seamless travel experience, encompassing both […]
Arabian Post Special The reported decision by OPEC+, the alliance of oil-producing countries led by Saudi Arabia and Russia, to extend production cuts until the end of the second quarter, while seemingly straightforward, carries significant implications for both producers and consumers, and its long-term impact remains to be seen. The decision serves to bolster oil prices by limiting supply at a time of growing global demand. The […]
Saudi Arabia’s National Centre of Meteorology (NCM) is urging a revision of the country’s educational materials on climate, highlighting the need for more accurate and nuanced information reflecting the kingdom’s diverse weather patterns and changing climate. Hussain Al Qahtani, the NCM spokesperson, emphasized the outdated nature of the current descriptions characterizing Saudi Arabia’s climate as simply “hot in summer and cold in winter.” He stated that this […]
Saudi Aramco, the world’s largest oil producer, announced on Friday the successful completion of its acquisition of a 100% stake in Esmax Distribución, a leading Chilean fuels and lubricants retailer. This move marks Aramco’s first foray into the downstream retail market in South America, signaling its ambitions for regional expansion and diversification. Esmax boasts a well-established network across Chile, encompassing retail fuel stations, airport operations, fuel distribution […]
James M Dorsey A proposed temporary Gaza ceasefire and prisoner exchange appears designed to buy war-battered Gazans relief while enabling Israel and Hamas to claim a success. However, whether Israel or Hamas emerges as the ultimate victor will be determined by whether the truce becomes permanent and the war ends. Negotiated by Qatar, Egypt, the United States, Israel, and Hamas, the deal would be whittled down to […]
Arabian Post Special For decades, the Middle East’s tourism landscape has been dominated by a few key players, with the United Arab Emirates (UAE) reigning supreme. However, a seismic shift is underway, as Saudi Arabia, long known primarily for religious pilgrimage, emerges as a major contender, rewriting the region’s tourism narrative. This transformation, driven by the ambitious Vision 2030 plan, has significant implications for both the Kingdom […]
The United Arab Emirates, Saudi Arabia, and Qatar have risen through the ranks of the most influential soft power nations faster than any other countries in the world, according to the new iteration of the Global Soft Power Index by Brand Finance, the world’s leading brand evaluation consultancy. The three Gulf nations have recorded remarkable improvements in the ranking over the past five iterations of the Global Soft Power […]
The Saudi Heritage Commission (SHC) has announced significant discoveries at the Jerash archaeological site in the Asir region. These findings, made during the 15th excavation season in 2023, shed new light on the site’s historical significance and offer a glimpse into the lives of its past inhabitants. Unearthed at Jerash were the remains of dwellings constructed from stone and mud, showcasing unique architectural features. These structures, along […]
In a statement marking a potential shift in Saudi Arabia’s cultural landscape, the kingdom’s Assistant Minister of Culture, Rakan Altouq, declared that “culture is not unipolar, nor should it be.” This comment, made following the first AlUla Future Culture Summit, suggests a move away from a singular cultural perspective and towards embracing a more diverse and interconnected global cultural scene. The AlUla summit, held in February 2024, […]
Merger and acquisition (M&A) activity in the Middle East and North Africa (MENA) region is facing headwinds due to rising global tensions, according to a recent report by Bain & Company. While the region experienced a 4% increase in M&A deals in 2023 compared to the previous year, with a total value of $86 billion, experts warn that this momentum could be short-lived. The report highlights the […]
