PARIS — Saudi Minister of Economy and Planning Faisal Al-Ibrahim attended the Ministerial Council Meeting (MCM) of the Organization for Economic Cooperation and Development (OECD) in Paris on Wednesday. The meeting was held under the theme “Getting industrial policies right for open markets, growth and prosperity.” Addressing a session titled “Balancing the goals and impacts of industrial policy,” the minister outlined the Kingdom’s experience in bolstering economic diversification and achieving sustainable growth under Saudi Vision 2030. Al-Ibrahim highlighted Saudi Arabia’s approach to industrial policy, which focuses on supporting long-term competitiveness, enhancing economic resilience, and fostering an enabling environment for innovation,…
Author: Editorial Team
MADRID — Spain recorded its highest number of heat-related deaths ever for the month of May, with 101 fatalities linked to high temperatures, according to estimates published Wednesday by the Health Ministry. The figure is the highest recorded for May since tracking began in 2015 and is 3.6 times higher than the average number of heat-related deaths registered during the month over the past decade, the ministry said. A late-May heatwave brought record temperatures to 23 provinces across Spain, according to the national meteorological agency AEMET. The agency also reported that parts of the Mediterranean and Cantabrian seas experienced their…
ABU DHABI, 3rd June May, 2026 (WAM) — Emirates Water and Electricity Company (EWEC) has announced the award of the Taweelah C Independent Power Producer (IPP) project, in Abu Dhabi. The project, which comprises a 2.6 gigawatt (GW) Combined Cycle Gas Turbine (CCGT) plant designed to enable the possible utilisation of carbon capture technologies in the future, has been awarded to Abu Dhabi National Energy Company PJSC (TAQA), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, alongside an international consortium comprising Aljomaih Energy and Water Company and Sembcorp Industries. Following the award, EWEC…
The Abu Dhabi Government has said its temporary rent freeze was introduced after demand continued to exceed supply over the past few years, pushing occupancy rates to record highs and driving up new lease prices across the emirate. In a press statement, the government said new lease prices had risen 15 per cent across Abu Dhabi and 23 per cent in investment zones compared to last year, impacting housing continuity for many residents. The statement came after Abu Dhabi announced a temporary update to the emirate’s annual rental increase cap, reducing it from 5 per cent to 0 per cent…
The UAE has expressed its solidarity with India following a fire at a hotel in Malviya Nagar, New Delhi, which resulted in a number of deaths and injuries. In a statement, the Ministry of Foreign Affairs (Mofa) expressed its sincere condolences and sympathy to the families of the victims, and to the government and people of India over this tragedy, as well as its wishes for a speedy recovery for the injured. The fire, which ripped through the hotel, killed at least 21 people, many of them foreign nationals, according to police and local media. Indian television channels showed flames…
RIYADH — Saudi Minister of Energy Prince Abdulaziz bin Salman and Minister of Foreign Affairs Prince Faisal bin Farhan held separate meetings with the International Atomic Energy Agency (IAEA) Director General Rafael Grossi in Riyadh on Wednesday. During the meeting, Prince Abdulaziz bin Salman and Grossi discussed technical cooperation, nuclear safety and security standards, developments in Saudi Arabia’s national atomic energy program, as well as issues of mutual interest. The meeting was part of the ongoing cooperation between Saudi Arabia and the IAEA, including expertise exchange, capacity building and nuclear infrastructure development to support Saudi Arabia’s plans to diversify its…
TOULOUSE — Saudia has taken delivery of its first Airbus A321XLR, becoming the first airline in the Middle East and Africa to operate the extra long-range narrow-body aircraft. The delivery marks a major milestone in Saudia’s fleet expansion strategy and reflects the airline’s continued investment in advanced aircraft aimed at improving operational efficiency, passenger experience and sustainability performance. With a range of up to 8,700 kilometers and the ability to operate flights lasting up to nine hours, the A321XLR will allow Saudia to serve longer international routes more efficiently using a narrow-body aircraft platform. The airline said the aircraft supports…
DUBAI, 3rd June May, 2026 (WAM) — Bayut and dubizzle, part of homegrown unicorn Dubizzle Group, have launched “Proud of the UAE,” an industry-wide campaign bringing together some of the country’s leading real estate voices, including prominent brokerage leaders and long-standing top clients of the platforms, to express appreciation for the UAE’s leadership, vision and continued commitment to safety, stability and progress. The campaign features a series of short messages from prominent real estate brokerage entrepreneurs and CEOs, many of whom represent some of Bayut and dubizzle’s most valued and high-performing partners. Each participant shares a message of gratitude for…
More than 4,100 players won prizes in Wednesday night’s UAE Lottery draw, with three participants taking home Dh50,000 each through the Lucky Chance raffle. The winning numbers for Draw No. 260603 are 7, 16, 19, 20, 26 and 30, for the Days section, while the Lucky Month Number is 10. A total of 4,178 winners secured prizes across various categories. Thirty-three players won Dh1,000 each in the fourth prize tier, while 4,142 participants received Dh100 prizes. Stay up to date with the latest news. Follow KT on WhatsApp Channels The Lucky Chance winners, who each walked away with Dh50,000, held…
RIYADH — Saudi Arabia’s non-oil private sector activity posted growth at its fastest pace in three months during May, signaling a strong recovery from the slowdown recorded in March. Companies attributed this rebound to the restoration of normal business conditions following earlier disruptions linked to the regional conflict, the resumption of previously suspended work contracts, and stronger domestic demand. The Riyad Bank Saudi Arabia’s Purchasing Managers’ Index (PMI) rose to 52.8 points in May 2026, representing a 2.5 percent increase and reflecting a notable improvement in the business environment. The non-oil private sector recorded stronger performance in May, with the…