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Oil prices edged up on Wednesday, supported by a weaker dollar, but gains were capped by mounting fears of a US economic slowdown and the impact of tariffs on global economic growth. Brent futures rose 37 cents, or 0.53%, to $69.93 a barrel at 0951 GMT, while US West Texas Intermediate crude futures gained 37 cents, or 0.53%, to $66.62 a barrel. Crude has been supported in recent days by a weaker US dollar and the Energy Information Administration (EIA) moving away from earlier calls of strongly oversupplied oil markets this year, UBS analyst Giovanni Staunovo. The dollar index, which…

It is true what they say, there is only one Diriyah. In the heart of Riyadh, an ancient city is experiencing a Phoenix-esque metamorphication. Diriyah, the birthplace of the Kingdom, is undergoing a transformation unlike anything the world has seen before. At the helm of this grand vision is Jerry Inzerillo, Group CEO of Diriyah Company and United Nations Tourism Ambassador. With a hospitality career spanning the world’s most prestigious brands, Inzerillo is leading the charge in shaping the ancient city into a global cultural and tourism icon. A vision inspired by leadership (Credit: Supplied) It all began in 2018,…

Reuters Secretary of state Marco Rubio suggests Iran is in US sights but other Gulf economies may fare better The optimism is welcome – but it may be misplaced. This week the Riyad Bank Purchasing Managers’ Index in Saudi Arabia hit its highest level in more than 10 years – a significant vote of confidence in the Arab world’s largest economy. There was positive news too on jobs in the kingdom. Employment rose “solidly” last year, the survey found. Elsewhere, the local advisory house Jadwa Investment reported that consumer spending in Saudi Arabia rose by 7.5 percent last year – implying that ordinary people…

Rooted in tradition, Riyadh is also establishing itself as a global hub for contemporary and digital art. Artists like Turki AlQahtani are at the forefront of this cultural renaissance, pushing the boundaries of artistic expression by blending heritage with cutting-edge technology. “Patterns have long been central to Arab culture as a visual language of identity, history, and meaning,” says Turki AlQahtani, a media artist and filmmaker whose work explores Arab motifs through a digital lens. His journey began with a handheld camera, capturing everyday life, but soon evolved into a more intentional practice of constructing patterns, often using himself as…

Saudi Arabia’s private sector buyers are expected to spend $1.22 billion on residential real estate in 2025, with the NEOM megaproject emerging as the most attractive destination for home purchases, according to global real estate consultancy Knight Frank. NEOM, a centerpiece of Saudi Vision 2030, is projected to house 9 million people and plays a crucial role in the Kingdom’s economic diversification strategy, reducing reliance on oil. A Knight Frank report released on Tuesday, surveyed 1,037 households, including 100 expatriate families living in Saudi Arabia. The study found that both Saudi citizens and residents plan to spend $489 million on…

Here are five key things investors need to know to start the trading day:1. Back and forth2. Man of steelFILE PHOTO: A worker welds a steel tube at HCC, a company that uses parts to make combines, at the factory in Mendota, Illinois, U.S., February 21, 2025. Vincent Alban | ReutersPresident Donald Trump’s 25% tariffs on steel and aluminum imports take effect Wednesday — and Europe was quick to respond. The European Union said it would impose tariffs on more than $28 billion worth of U.S. goods, effective in April, as a countermeasure to what the European Commission called “unjustified trade…

Chef Roaya Saleh is a culinary trailblazer who swapped the fast-paced world of investment banking for the sizzling kitchens of her true passion—food. What started as a cozy extension of her own home kitchen in Bahrain has blossomed into Villa Mamas, a beloved dining destination across the GCC and Europe. Inspired by her childhood adventures through the Middle East and India, Villa Mamas’ menu is a love letter to bold flavors and comforting nostalgia. From aromatic biryanis to velvety hummus, every dish invites you on a journey without ever leaving your seat. Often called a grander version of Chef Roaya…

KSrelief distributed 1,000 food baskets in Zabre, Burkina Faso, benefiting 6,000 individuals as part of the “Etaam” Ramadan food assistance project.Ouagadougou, March 12, 2025 – The King Salman Humanitarian Aid and Relief Center (KSrelief) has distributed 1,000 food baskets to the most vulnerable families in Zabre, Burkina Faso, benefiting 6,000 individuals, as part of the “Etaam” Ramadan food basket distribution project for the year 1446 AH. This distribution is a key element of the Kingdom of Saudi Arabia’s ongoing humanitarian and relief efforts aimed at alleviating the suffering of the needy around the world during the holy month of Ramadan.…

The dollar struggled on Wednesday to lift off a five-month low against major peers, as worries about the US economy simmered, in view of President Donald Trump’s unpredictable trade policies.The euro hovered around a five-month peak on increased optimism for an end to the war in Ukraine.The Canadian dollar was steady after a volatile session on Tuesday, when Trump pledged to double tariffs on steel and aluminium to 50%, only to reverse course just hours later.The Bank of Canada decides policy later on Wednesday, with traders expecting another quarter-point interest rate cut.”Trade uncertainty persists and therefore so does market volatility,”…

Aleksei Gorodenkov/Alamy via Reuters Connect International investors are increasingly interested in Gulf companies with expansion plans Surge of international interest Supported by strong local markets Valuations lower than US and Europe Global investors are increasingly vying for stakes in later-stage Gulf startups, betting on the region’s economic expansion and stronger exit opportunities, as the regional IPO markets gain momentum. The region, long overlooked for growth-stage capital – minority investments in established companies aimed at accelerating expansion – is witnessing a surge of interest from giants such as General Atlantic, General Catalyst and others. “In all the investment opportunities we’ve looked…