RIYADH: Saudi Arabia’s inflation eased to 1.6 percent in March, down from 1.8 percent the previous month, driven by changes in the food and beverage sector. The latest report from the General Authority for Statistics indicates that the Kingdom’s Consumer Price Index experienced a marginal decrease of 0.1 percent in March compared to February. The … Read more
RIYADH: Oman’s top five ports saw a 1.5 percent annual increase in cargo handling in 2023, surpassing 93.2 million tonnes, underscoring their growing significance in maritime trade. The terminals of Sultan Qaboos, Salalah Sohar and Khasab as well as Shinas, and A’Suwaiq handled approximately 91.8 million tonnes of general, liquid, and bulk cargo in 2022, … Read more
Ramadan series: Why ‘Al-Hashashin’ is the season’s must-watch cultural and visual spectacle As we embrace the holy month of Ramadan, a time cherished for cultural immersion, the Arabic series “Al-Hashashin” has become the highlight of the season. This historical drama, set against the rich tapestry of the 11th century, delves deep into the mysterious world … Read more
Pakistan Cabinet sworn in, taking control of nation deeply divided with looming economic crisis ISLAMABAD: Prime Minister Shehbaz Sharif’s new Cabinet with 19 members took oath on Monday, tasked with running the South Asian country of 241 million people facing profound economic, political and security challenges. Cash-strapped Pakistan grappled with the Feb. 8 general election … Read more
RIYADH: Saudi Arabia’s real estate market is set for an upswing as high-net-worth Muslim individuals plan to invest $2 billion in Makkah and Madinah properties, a recent survey indicated. The survey was conducted by Knight Frank, a global property consultancy, and published in the firm’s inaugural Destination Saudi report. It found that among the individuals … Read more
RIYADH: Saudi Arabia experienced an 11 percent increase in non-oil revenues, reaching SR457.73 billion ($122.06 billion) in 2023 compared to 2022, official data showed. The growth, primarily driven by increased taxes on income, profits, and capital gains, resulted in a 58 percent surge in these taxes, totaling SR38.64 billion, as reported in the fiscal year … Read more
AI tech is in TV equivalent of monochrome but future is ‘bright’: CEO of OpenAI DUBAI: Artificial intelligence technology is currently in television’s equivalent of “black and white” but the coming decade “will be remarkable,” said Sam Altman, CEO of OpenAI, on Tuesday. Speaking via video on the second day of the World Governments Summit … Read more
World Defense Show sees Saudi officials engage in multitude of meetings, agreements RIYADH: Senior Saudi officials have conducted multiple meetings with high-ranking representatives from various countries on the sidelines of the ongoing World Defense Show in Riyadh. Saudi Defense Minister Prince Khalid bin Salman met with his British counterpart Grant Shapps on Feb. 4 during … Read more
RIYADH: Saudi Arabia is poised for a 105 percent surge in average wealth per person in the next 10 years, jumping from the current $54,000, a new study showed. According to Henley & Partners’ BRICS Wealth Report, the Kingdom presently holds the sixth position within the bloc in terms of high-net-worth individuals. The consulting agency … Read more
FRANKFURT: Hapag-Lloyd and Maersk have signed an agreement for a new long-term collaboration as they strive to transport a combined 3.4 million containers via 290 vessels more reliably and sustainably, the two shipping companies said on Wednesday. As part of the so-called Gemini Cooperation which starts in February 2025, the pair have set an ambitious target of delivering schedule reliability … Read more