RIYADH: Japan’s Mitsubishi Power is committed to supporting Saudi Arabia’s growing demand for energy to help it achieve the prosperity outlined in Vision 2030, according to a top official. Adel Al-Juraid, CEO of Mitsubishi Power in Saudi Arabia, shared profound insights into the company’s transformative journey in an interview with Arab News, offering a comprehensive overview … Read more
MAKKAH: Makkah’s museums attract Muslims from across the world and enrich the pilgrimage experience. They also offer revealing insights into the Kingdom’s history and its dedication to Hajj and Umrah performers. Dr. Fahd Al-Maliki, vice chairman of the Saudi Historical Society and professor of graduate studies at Umm Al-Qura University, told Arab News that the … Read more
RIYADH: The UAE central bank’s foreign assets surged to 695.04 billion dirhams ($189.2 billion) in January, showing a 38.8 percent yearly increase, according to official data. The financial sector’s total reserves also grew, hitting 4.1 trillion dirhams in January – a 0.8 percent monthly increase, according to official data. Additionally, total bank credit at the end of January … Read more
RIYADH: Saudi Arabia continued to record robust business activity in March with the authorities approving 18 requests for economic concentration, official data showed. Last month, as many as 17 concentration requests were submitted to the General Authority for Competition. The authority also oversaw a notable influx of cross-border deals, encompassing 10 acquisitions, five joint ventures, … Read more
RIYADH: Financial openness and tackling inflation played a significant role in the short-term financial development of Arab countries, a new study suggests. A recent analysis released by the Arab Monetary Fund examined the impact of economic freedom on the development of the financial sectors of eight countries from 1980 to 2020: Algeria, Egypt, Jordan, Lebanon, … Read more
RIYADH: Local and global advances and public agencies’ performance were in focus during a virtual meeting held by Saudi Arabia’s Council of Economic and Development Affairs. Operating under the council of ministers, CEDA aims at establishing the overall governance, the mechanisms and measures necessary to achieve Saudi Vision 2030. The body addresses issues spanning all domestic … Read more
RIYADH: More than 1 million employees joined Saudi Arabia’s private sector in 2023, marking an 11.5 percent increase compared to 2022, according to new data. The National Labor Observatory said that 1.06 million workers joined the business sphere in 2023, with women constituting 37 percent of the total, representing a 2 percent increase from 2022, as reported … Read more
PARIS: World leaders denounced a deadly attack by gunmen on a Moscow concert hall that killed more than 130 people and wounded dozens more.Four gunmen stormed the Crocus City venue before the start of a rock concert on Friday, opened fire on the audience and set fire to the building, in an assault claimed by … Read more
RIYADH: Ten out of the 11 airports in Saudi Arabia that received passengers’ complaints in February resolved them on time, according to the General Authority of Civil Aviation. In its monthly classification for air transport service providers, GACA highlighted the performance of airlines and related transport hubs based on traveler complaints filed during the second month … Read more
Saudi Haramain High Speed Railway gears up to transport 1.3m Umrah pilgrims during Ramadan RIYADH: The Haramain High Speed Railway has announced plans to operate more than 2,700 trips while providing seating capacity exceeding 1.3 million passengers to meet the increasing demand for transportation between Makkah and Madinah during Ramadan. Saudi Arabia Railways, in coordination … Read more