Author: Editorial Team
RIYADH — The construction cost index in Saudi Arabia rose by 2.4 percent in April 2026 compared to the same month of the previous year. This increase is primarily attributed to a 2.4 percent rise in construction costs for the residential sector and a 2.7 percent increase in costs for the non-residential sector, according to the report of the General Authority for Statistics (GASTAT). The residential sector index recorded a year-on-year increase of 2.4 percent, largely driven by a 4.7 percent rise in equipment and machinery rental costs. This increase reflects a 6.3 percent rise in rental costs for equipment…
ABU DHABI, 21st May, 2026 (WAM) — Cantor, a premier global investment bank and part of the Cantor Fitzgerald group of companies, today announced that The Financial Services Regulatory Authority (FSRA) of ADGM, the international financial center of Abu Dhabi, has granted the firm approval to conduct regulated financial activities within the ADGM. The approval, confirmed through the issuance of a Financial Services Permission (“FSP”), marks a significant milestone in Cantor’s strategic expansion across the Middle East. The authorization follows the opening of the firm’s Abu Dhabi office. “Establishing our presence in Abu Dhabi reflects Cantor’s long-term commitment to strategically…
Why do writers feel the need to ‘escape’ to write? While I’d been writing for years, I didn’t know much about these glorified getaways and I’d never applied for one. So, I was pleasantly surprised when I answered a phone call asking me if I would be interested to travel to a residency in the US. Unsure what to expect, I attended the International Writers Program at the University of Iowa as one of 32 writers in residence from all over the world. What I discovered was a unique combination of calm and community that inspired me then, and long…
ABU DHABI, 21st May, 2026 (WAM) — The UAE Research Programme for Rain Enhancement Science (UAEREP) convened the 16th session of its Rain Enhancement Hub Webinar Series under the theme “From Scientific Evidence to Operational Readiness: Key Lessons from the WMA Annual Meeting for the Future of Rain Enhancement.” The webinar featured prominent UAEREP awardees, including Dr. Michael Dixon, UAEREP Cycle 6 Awardee and Principal Scientist at Echo Science Works in the United States; Professor Roelof Burger, Co-Principal Investigator from North-West University; Professor Will Cantrell, UAEREP Cycle 5 Awardee and Associate Provost for Graduate Education and Dean of the Graduate…
Mistral AI, a French company, recently entered into a deal to acquire Austrian start-up Emmi AI. This move is part of a larger strategy to expand Mistral’s offering to industrial customers in Europe. Founded in 2024, Emmi AI develops models to improve operations across various sectors including aviation, energy, semiconductors and automotive, using its engineering capabilities to adapt and train AI based on data provided by customers. It raised €15 million in an Austrian funding round in 2025, pumping cash into models dealing with complex areas such as airflow and heat transfer, Reuters reported. In a statement announcing the sale…
RIYADH — Saudi Arabia’s Capital Market Authority has referred 17 suspects linked to Cenomi Retail to the Public Prosecution over suspected violations of the Capital Market Law, Market Conduct Regulations and Companies Law. The suspects include former and current board members, a chief executive officer, several financial managers at the company, and members of the audit team at the company’s former external auditor. The CMA said the Public Prosecution has already filed a penal case against the suspects before the Committee for Resolution of Securities Disputes. According to the authority, the referral followed a decision by the CMA board based…
RIYADH — Saudi Arabia’s Capital Market Authority announced the issuance of a final ruling against 11 former board and audit committee members of Middle East Healthcare Company over violations related to manipulation of the company’s financial statements between 2018 and 2021. The ruling was issued by the Appeal Committee for the Resolution of Securities Disputes and included collective fines totaling nearly SR18 million, along with work bans for several of the convicted individuals. According to the CMA, the violations involved breaching Article 49(a) of the Capital Market Law and Article 7 of the Market Conduct Regulations through inflating the company’s…
[Editor’s Note: Follow the Khaleej Times live blog for the latest regional developments with the US-Israel-Iran ceasefire now in effect.] Top UAE diplomat Anwar Gargash, who serves as Adviser to the UAE President, has laid out his thoughts on the current situation with Iran, expanding on the Islamic Republic’s “attempts to control the Strait of Hormuz.” On Tuesday, May 19, Iran announced the formation of a new body to manage the Strait of Hormuz called the PGSA. While it was not immediately clear how the body would control the strait, the Supreme National Security Council in Iran said at the time, “Navigation…
ABU DHABI, 21st May, 2026 (WAM) — Abdulla bin Touq Al Marri, Minister of Economy and Tourism, said that the UAE continues to consolidate an economic model based on openness, continuity and adaptability to global changes, noting that the national economy has demonstrated its ability to maintain competitiveness and stability despite geopolitical challenges and regional fluctuations. Speaking during the Economy Middle East Summit 2026, he said that the UAE did not build its economy solely for times of prosperity, but rather to be capable of performing under all conditions. He pointed out that, in a world marked by fragmentation and…
Less than 20 minutes after an Air India Express flight took off from Dubai on May 12, panic spread inside the cabin. A 32-year-old passenger collapsed and had become unresponsive. As frightened passengers stood up in confusion, Akilaoviyan Neelakandan, a nurse at RAK Hospital, rushed ahead from the back of the aircraft to help stabilise the man. She used limited medical supplies available onboard, monitoring him continuously for nearly two hours until the flight landed safely in India. Neelakandan was travelling home for her first vacation and was only on her second-ever flight when cabin crew announced that a medical…