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European markets are heading for a sharply higher open amid hopes that a ceasefire can be reached to pause the war in Ukraine.The U.K.’s FTSE 100 index is expected to open 25 points higher at 8,512, Germany’s DAX up 195 points at 22,511, France’s CAC 69 points higher at 7,998 and Italy’s FTSE MIB 354 points higher at 38,003, according to data from IG. Investors in Europe will be keeping an eye on earnings from clothing giants Inditex and Puma, and from carmaker Porsche.Market sentiment in the region was boosted Tuesday as talks between U.S. and Ukrainian officials in Saudi Arabia on…

Reuters/Aladin Abdel Naby Egypt has continued to implement policies to preserve stability despite ongoing regional tensions, said the IMF The International Monetary Fund (IMF) has approved the release of funds to Egypt following the fourth review of an emergency loan progamme but has warned the government that “more decisive implementation of reforms will be critical”. This disbursement of $1.2 billion brings Egypt’s total loan to about $3.2 billion under an extended fund facility (EEF) worth $8bn, the IMF said in a statement. The Fund approved the 46-month EFF in 2022, after Cairo agreed to implement a set of reforms and policies, including…

Diriyah Company launched its Media and Innovation District at MIPIM 2025, marking a key development in Saudi Arabia’s $63.2 billion Diriyah project focused on media, technology, and sustainable living.Diriyah, March 12, 2025 – Diriyah Company has officially unveiled the launch of its groundbreaking Media and Innovation District at MIPIM 2025 in Cannes, marking a significant milestone in the development of the Kingdom’s ambitious Diriyah project. This innovative district is poised to redefine the future of the technology, media, and communications sectors, positioning Diriyah as a dynamic new hub where creativity, collaboration, and technological advancement can flourish. The district will serve…

The Ministry of Islamic Affairs launched Ramadan iftar and date distribution programs in South Korea and Romania, benefiting thousands of Muslims during the holy month.Seoul, March 12, 2025 – The Ministry of Islamic Affairs, Dawah, and Guidance has launched the Custodian of the Two Holy Mosques’ programs for Ramadan iftar and date distribution in South Korea and Romania, reinforcing its ongoing commitment to supporting Muslim communities during the blessed month of Ramadan. The initiative is part of a broader effort to provide humanitarian assistance and strengthen ties with Muslims living abroad, reflecting the Kingdom of Saudi Arabia’s dedication to the…

Jaap Arriens/NurPhoto via Reuters Connect Workers at a construction site near Riyadh. The need for project finance has grown as Gulf governments push ahead with mega-projects Alternative funding model used across GCC Banks paid a premium for higher risk Early refinancing becoming more common Contrasting trends are emerging in Gulf project finance, with deals increasing in duration but also more likely to be refinanced early. Project finance is a funding model often used for infrastructure, in which repayment comes from revenue generated by the completed facility rather than being guaranteed by the owners. “Repayment depends on the project succeeding,” says…

We had the opportunity to connect with renowned artist Steve Aoki at Destination, where we explored his exciting partnership with IQOS. From the ‘Aoki glow’ to sustainable design, Aoki shared how this collaboration reflects his unique vision for the future, emphasizing creativity fused with IQOS’s commitment to progress. Could you tell us about your decision to partner with IQOS, especially as a non-nicotine user? What motivated you to collaborate with them? I decided to collaborate with IQOS because of their commitment to innovation. When I talk about innovation, I mean progress. I care a lot about this. Progress & innovation…

A country once known for its restrictive policies towards women, Saudi Arabia is now witnessing a surge in female entrepreneurship as part of the Kingdom’s ambitious Vision 2030 plan to diversify the economy, and support women’s empowerment initiatives and policies.It is estimated that 45% of SMEs in the country are being led by women, according to a recent report by Monsha’at, Saudi Arabia’s official SME general authority.But this change didn’t happen overnight. It was in the making for nearly a decade as the country implemented various economic and social reforms, supporting women to take the leap to entrepreneurship and drive…

Aster DM Healthcare, a leading integrated healthcare provider in the Gulf, will launch its AI-powered healthcare platform, myAster, in Saudi Arabia during LEAP 2025. The expansion aligns with Saudi Vision 2030’s push for digital transformation in healthcare. “LEAP 2025 is an opportunity to showcase how digital innovation can transform patient care and accessibility,” Alisha Moopen, Managing Director & Group CEO of Aster DM Healthcare, told Destination KSA. “With Saudi Arabia investing in smart healthcare solutions, this is the right time for us to introduce a platform that makes healthcare simpler, smarter, and more connected.” AI-Powered Digital Transformation with Google Collaboration…

Global technology brand HONOR on Monday announced the HONOR ALPHA PLAN, a new corporate strategy to transform HONOR from a smartphone maker to a global leading AI device ecosystem company. The visionary three-step plan details the bold steps HONOR will take to usher in the new intelligent world, and calls on the industry to co-create an open, value-sharing ecosystem that maximizes human potential, ultimately benefiting all mankind.“It is clear that the AI revolution will reshape the paradigm of the device industry – completely transforming our productivity, our society, and even our culture more than ever before,” said James Li, CEO…

Destination KSA, a leading marketing and communications agency, has entered into a strategic partnership with Meister Construction Technologies, a recognized leader in the Saudi Arabian construction chemicals market. The partnership, formalized through a Memorandum of Understanding (MOU), aims to enhance Meister’s brand presence and drive business growth within the Kingdom, with potential expansion into international markets. The MOU, signed on February 12, 2025, outlines the collaboration between the two entities, focusing on a comprehensive suite of marketing and communications services. Destination KSA will support Meister in achieving its business objectives by providing services in market research, marketing strategy development, branding,…