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Iran is the seventh largest oil producer in the world
Markets rocked as US says Israel has struck Iran
LONDON — Global oil and gold prices jumped and shares fell after US officials said an Israeli missile had struck Iran.After initial sharp moves in Asia on Friday, the market reaction eased with Brent crude oil trading around 1.7% higher, to sit above $88 a barrel, while gold was close to $2,400 an ounce.Benchmark stock indexes in Japan, Hong Kong and South Korea also lost ground after the news.Investors have been closely watching Israel’s reaction to Iran's drone and missile attack on the country last weekend.They are concerned that a worsening conflict in the Middle East could disrupt oil supplies.In stock markets, the Nikkei 225 index in Tokyo was trading about 2.5% lower, while Hong Kong's Hang Seng was around 1.2% lower and the Kospi in South Korea fell by about 1.7%.Oil...
April 19, 2024

Markets rocked as US says Israel has struck Iran

A worker at a texile factory in Nantong, in eastern China's Jiangsu province on September 14, 2023
China’s economy expands by a surprisingly strong pace in the first quarter of 2024
HONG KONG — China’s economy grew stronger than expected at the start of this year, mainly thanks to robust growth in high-tech manufacturing.Gross domestic product grew by 5.3% in the first quarter from a year ago, according to the National Bureau of Statistics on Tuesday. That beat the estimate of 4.6% growth from a Reuters poll of economists. It also marked an acceleration from the 5.2% growth in the previous three months.“The Chinese economy got off to a good start in the first quarter ... laying a good foundation for achieving the goals for the whole year,” said Sheng Laiyun, a spokesperson for the NBS, at a press conference in Beijing accompanying the data release.But he acknowledged that “the foundation for economic stability and improvement is not yet solid.”Industrial...
April 16, 2024

China’s economy expands by a surprisingly strong pace in the first quarter of 2024

Iran is the seventh largest oil producer in the world
Oil prices lower after Iran attack on Israel
LONDON — Oil prices fell in early Asian trade after Iran's reprisal attack on Israel over the weekend.Brent crude — a key benchmark for oil prices internationally — was lower but still trading close to $90 a barrel on Monday morning.Prices had already risen in expectation of action by Iran, with Brent crude nearing a six-month high last week.Israeli Defence Minister Yoav Gallant has said the confrontation with Iran is "not over yet".Energy analyst Vandana Hari said: "Clearly, the oil market does not see the need to factor in any additional supply threat at this point."Brent crude may well fall below the $90 mark, but a sizeable pullback is unlikely as traders remain focused on the risks associated with the conflicts in Gaza and Ukraine, she added.Analysts also...
April 15, 2024

Oil prices lower after Iran attack on Israel

JAECOO J7/J8 PHEV set to debut at Beijing International Automotive Exhibition
On April 25, the globally anticipated 2024 Beijing International Automotive Exhibition will grandly commence. Amidst the accelerating transformation of the new energy landscape, JAECOO, with the theme "New Energy, New Eco, New Era," will make its appearance in Beijing, marking its debut with the J7 PHEV and J8 PHEV (plug-in Hybrid Electric Vehicle) from its new energy family. This debut represents a powerful statement of JAECOO's entrance into the new energy era with "new products, new technologies, and a new ecosystem."Launching in Saudi Arabia in the month of May 2024In the Middle East region, KSA will be the first country where Chery International has officially opened its international head office. Now, the most anticipated launch in Saudi Arabia for this year...
April 07, 2024

JAECOO J7/J8 PHEV set to debut at Beijing International Automotive Exhibition

Discovering cultural diversity of the GCC through the eyes of TikTok’s creators during Ramadan
by Kinda Ibrahim Regional General Manager of Operations, TikTok Middle East, Turkey, Africa, Pakistan, and South AsiaRamadan stands out in the region’s yearly calendar. It's a month for reflection, spirituality, giving back to the community, gatherings with loved ones, and heartwarming family traditions. Yet, it is more than just a period for personal reflection; it’s an opportunity to showcase one’s rich cultural heritage to the world. With content platforms breaking down geographical barriers, today’s generation are embracing content platforms like TikTok to proudly exhibit their timeless customs, offering others a glimpse into the diverse and meaningful moments that make the Holy Month so special.Over the years, platforms like TikTok have grown into invaluable repositories...
April 05, 2024

Discovering cultural diversity of the GCC through the eyes of TikTok’s creators during Ramadan

LuLu opens 59th Saudi store in Unayzah
LuLu Saudi Hypermarket took forward its promise of marching in step with the progress of the Kingdom of Saudi Arabia with the inauguration of its 59th store in Unayzah Governorate in Al Qassim Province, Saudi Arabia on Wednesday.The grand opening was presided over by Abdul Rahman Ibrahim Al-Salim, the Governor of Unayzah, who was the Chief Guest. He was welcomed by the senior LuLu Management led by LuLu Saudi Director, Shehim Mohammed. Also present at the opening was Hatim MC, Regional Director, LuLu Hypermarket, Central Province.Yusuff Ali M.A, Chairman and Managing Director of the LuLu Group said that the new store opening comes in line with the LuLu Group’s commitment to the Saudi leadership’s vision and energy for a bright future. He continued that the continuing expansion of the...
April 04, 2024

LuLu opens 59th Saudi store in Unayzah

stc pay becomes STC Bank with Saudi Central Bank approval
Saudi Gazette reportRIYADH — stc pay has received formal approval from the Saudi Central Bank (SAMA) to progress into STC Bank. This beta launch, initially available to a select group of customers, sets the stage for a broader public rollout planned for later in the year.This advancement underscores SAMA's dedication to facilitating digital transformation and empowerment, aligning with the Vision 2030 objectives of fostering a cashless society by enhancing the digital financial transaction share. The beta phase allows chosen customers to transition their stc pay digital wallet into a full-fledged STC Bank account, complete with an International Bank Account Number (IBAN) and an expanded suite of banking services.STC Bank is committed to offering Sharia-compliant banking solutions,...
April 04, 2024

stc pay becomes STC Bank with Saudi Central Bank approval

Amazon said the cuts will be at its operations around the world
Amazon: Tech giant cuts hundreds of jobs in cloud computing unit
WASHINGTON — Technology giant Amazon has announced job cuts affecting hundreds of staff at its cloud computing business.Amazon Web Services (AWS) has been growing and now represents 14% of Amazon's total revenue, according to its latest financial report.The company has been shifting its strategy with physical stores, Amazon Fresh, which were launched in 2020.On Tuesday, it said it would remove its self-checkout system called Just Walk Out from all the stores.The firm said the latest job cuts impact several hundred roles in sales, marketing and global services and a few hundred roles in its physical stores technology team."These decisions are difficult but necessary as we continue to invest, hire, and optimize resources to deliver innovation for our customers", an AWS...
April 04, 2024

Amazon: Tech giant cuts hundreds of jobs in cloud computing unit

Gexpo: Fueling fashion innovation at Tashkeela exhibition with over 100 Saudi brands
Gexpo for Events and Conferences, renowned for its unparalleled quality, experience, and professional prowess, recently played a pivotal role in the successful launch of the inaugural “Tashkeela” Exhibition. This significant event, prominently featuring over 100 Saudi brands, unfolded meticulously over four days at the Riyadh Front Exhibition Center, organized in collaboration with the Fashion Commission. The company achieved great success by catering to the satisfaction of over 190 participants, including Saudi fashion designers from the “Saudi 100 Brands Mentoring Program,” alongside other designers from Arab and international backgrounds. With attendance surpassing 30,000 visitors, the exhibition opened wide horizons for participants, allowing them to delve into diverse...
April 03, 2024

Gexpo: Fueling fashion innovation at Tashkeela exhibition with over 100 Saudi brands

Retailer LULU GROUP to come up with Hypermarket projects in Makkah & Madinah
In a bid to further expand its retail portfolio in Saudi Arabia, UAE based Lulu Group has finalized two new projects in the Holy cities of Makkah and Madinah. This was announced by Yusuff Ali MA, Chairman of Lulu Group on the sideline of signing ceremony which took place in the Holy city of Makkah.The agreement was signed by Badr Nadershah - COO of Jabal Omar Development Company, Eng. Waleed Ahmed Al Ahmadi - CEO, Al Manakha Urban Project Development Company (Dallah Group) and Shehim Mohammed- Director, Lulu Group KSA, in the presence of Yusuff Ali MA, in the Holy city of Makkah.The first lulu project at Jabal Omar 3 in Makkah is a mixed-use project which envisages the establishment of Lulu store in Souq Al Khalil, will be developed by Jabal Omar Development Company. The new store will be...
April 02, 2024

Retailer LULU GROUP to come up with Hypermarket projects in Makkah & Madinah

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