Saudi Arabia’s domestic tourism remains strong despite return of international travel

  • RIYADH: Despite the full resumption of international travel, domestic tourism continues to remain strong in Saudi Arabia, according to Almosafer, the Kingdom’s leading company in the sector. The firm’s CEO made the comments to Arab News following the signing of a deal between the Saudi Touris...
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Saudi privatization program now seeing investments topping $50bn, finance minister reveals

  • RIYADH: The pace of Saudi Arabia’s privatization program is accelerating with investments now exceeding $50 billion, the Minister of Finance and Chairman of the National Center for Privatization Projects Muhammad Al-Jadaan has revealed. During his participation in the roundtable discussions w...
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Magnom Properties and Forbes announce partnership to build environmentally responsive tower in Egypt

  • DAVOS: Magnom Properties and Forbes announced at the World Economic Forum in Davos, Switzerland, joint plans to build an innovative, environmentally responsive tower in the heart of the New Administrative Capital in Cairo, Egypt. The Forbes International Tower, proposed by Adrian Smith + Gord...
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Egypt, UAE among WEF initiative partners to raise $3tn a year for climate efforts

  • DAVOS: Egypt and the UAE are among over 45 partners supporting the World Economic Forum’s initiative to unlock the $3 trillion of financing needed each year to reach net zero, reverse nature loss and restore biodiversity by 2050. The Giving to Amplify Earth Action initiative, launched Tuesday...
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Time running out to tackle climate change: US envoy

  • DAVOS: US climate envoy John Kerry on Tuesday said that time was running out for the world to tackle climate change. And the special presidential ambassador was not convinced that a low-carbon global economy would be achieved in time to avoid the worst impact for some of the most vulnerable p...
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Saudi Arabia shines as global investment darling at BMG Economic Forum

  • LONDON: Investors and experts from across Saudi Arabia, the UK and Europe gathered at the BMG Economic Forum’s annual meeting at the London Stock Exchange on Tuesday to highlight key investment and cooperation opportunities with the Kingdom. The conference, part of BMG’s Annual Summer Retreat...
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Libya’s Bashagha says oil blockade tied to budget release

  • SIRTE, Libya: Libya’s oil blockade would likely end if the central bank supplies the funds for the budget that parliament approved this week, the parliament-appointed prime minister, Fathi Bashagha, told Reuters. Bashagha was sworn in by the eastern-based parliament in March but Abdulhamid Al-...
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Israeli-based stem cell startup wins grand prize at inaugural Aviram awards in Dubai

  • LONDON: A startup that pioneered the use of stem cell generated blood cells to treat seriously ill patients has won a $500,000 grand prize at the inaugural Aviram awards in Dubai in recognition of the firm’s contribution to one of society’s most pressing challenges. The prize was accepted by ...
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British PM’s visit to Saudi Arabia to pave way for free trade deal, stronger business ties

  • RIYADH: British Prime Minister Boris Johnson met Wednesday with Saudi Crown Prince Mohammed bin Salman to bolster economic and business ties between the two nations. The Kingdom and other GCC nations are working on a free trade agreement that may see the light faster after this visit.  ...
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Here’s what you need to know as TASI wraps up the trading week

  • RIYADH: Saudi stocks rose on Wednesday following five straight days of losses, boosted by news of growth in the Kingdom's gross domestic product. Saudi GDP rose by the highest annual rate since 2015 of 3.2 percent in 2021, with a growth of 6.7 percent in the fourth quarter, acc...
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