The news, anew
Christine Lagarde's early decision to step down as head of the European Central Bank (ECB) has put the European Union on a tight schedule. The bloc expects to pick a new ECB chief by the end of December.
Business
As preparations for the upcoming Hajj season commence in Saudi Arabia, the sixth Hajj Conference and Exhibition in Jeddah has gathered representatives from over 520 organizations across 150 countries. The event, spanning more than 67,000 sq. meters, focuses on establishing partnerships and logistics to enhance the pilgrim experience, showcasing advancements in transportation, accommodation, and technology, while facilitating important deal-making opportunities for airlines and hotels.
Business
In the third quarter, Saudi Arabia’s Knowledge Economic City (KEC) and Maaden reported increased revenues, with KEC's net profit soaring 253.5% and Maaden’s revenue rising 11% to $3 billion. KEC attributed its growth to strong contributions from residential projects and a land sale, while Maaden faced mixed results across its divisions, particularly in phosphate, where production costs rose significantly despite recovering output.
Business
Safety emerges as the biggest attraction for investors, while 89% believe Dubai offers better opportunities to build wealth than their home countries.
