• Saudi Arabia and Bahrain sign road safety, maintenance agreement

    Manama, Bahrain--Saudi Arabia and Bahrain have signed a memorandum of understanding to boost road safety and maintenance in the two kingdoms. The agreement was signed in a meeting between Ibrahim bin Hassan Al Hawaj, Minister of Works, and Saleh bin Nasser Al Jasser, Minister of Transport and Logistics of the...
  • Hamas official speaks of big gaps with Israel in truce talks

    An official from the Palestinian resistance group with knowledge of the talks said that there is a deep divergence in positions in the negotiations between Hamas and Israel. The official said that Israel wanted to reach a temporary ceasefire "so that it can resume its aggression against our people."
  • Reddit to make trading debut on NYSE

    It comes amid a slowdown in the tech sector IPOs.
  • Borse Dubai to sell Nasdaq shares

    The sale is poised to generate $1.59 billion.
  • Bahrain and France sign MoU to boost tourism education

    Lyon, France--Vatel Hotel and Tourism Business School Bahrain signed a memorandum of understanding (MoU) with EKLYA School of Business in France to launch a student exchange programme between Bahrain and France aimed at bolstering academic and cultural ties between the two countries. This initiative affirms the joint commitment to strengthen...
  • China maintains basic balance in international payments in 2023

    Beijing, China--China maintained a basic balance in its international payments last year, with its current account surplus amounting to US$264.2 billion, the country's foreign exchange regulator said on Sunday. According to China Central Television, the State Administration of Foreign Exchange (SAFE) disclosed that the ratio of the current account surplus...
  • Hamas chief to visit Egypt for Gaza ceasefire talks

    According to a source close to the Palestinian Islamist group, Hamas chief Ismail Haniyeh is set to visit Egypt on Wednesday for talks on a ceasefire in Gaza and a prisoner exchange with Israel. Haniyeh will head a Hamas delegation to Egypt, where he is due to hold talks with...
  • ADX and Abu Dhabi Housing Authority sign agreement to boost data exchange

    Abu Dhabi, UAE--The Abu Dhabi Securities Exchange (ADX) and the Abu Dhabi Housing Authority signed a service level agreement to enhance cooperation between the two organizations across different areas, including digital connectivity and data exchange. The primary objective of this collaboration is to elevate service excellence and improve the overall...
  • Realty sector’s success hinges on GDP growth

    The kingdom’s Minister of Housing, Majid Al-Hogail recently said that Gulf country's residential real estate finance is expected to exceed 1.2 million contracts with a value of SR600 billion ($162 billion) by 2030.
  • Jordan’s interconnection projects to serve as hub for energy exchange

    AMMAN, JORDAN -The Kingdom’s Ministry of Energy and Mineral Resources has emphasized the significance of current and upcoming electrical interconnection initiatives to enhance the system and advance the energy sector. This move will ultimately help position Jordan as a hub for regional energy exchange in all its forms. According to...
  • Saudi Arabia’s banks post 9.6% rise in aggregate profits in July to US$1.71bn

    Riyadh, Saudi Arabia-- Banks in Saudi Arabia have reported a 9.6 percent increase in aggregate profit to $1.71 billion in July, according to official data. The Saudi Central Bank, also known as SAMA, said that the aggregate assets of these banks also rose 8.84 percent year on year in July...
  • Egypt and Indonesia to ramp up trade exchange

    Cairo, Egypt--Egypt and Indonesia will ramp up trade exchange as the two countries look to strengthen the overall ties. This came during the seventh round of political talks between Egypt and Indonesia which was held in Jakarta. Middle East News Agency (MENA) quoted the Egyptian Foreign Ministry as saying that...
  • Qatar Chamber signs MoU with Argentina Chamber to boost economic ties

    Doha, Qatar-- Qatar and Argentina are looking to bolster ties and in this regard Qatar Chamber of Commerce and Industry (QC) and Argentina Chamber of Commerce have signed a memorandum of understanding (MoU) to enhance and diversify trade exchanges and economic cooperation between the two countries. This came on the...
  • Ready for prisoner swap with US, says Iran

    Iran said it was hoping indirect talks with the United States could lead to a "positive" outcome for a prisoner swap. Iran announced earlier this month that it was engaged in Oman-mediated talks with its arch-nemesis the United States over its nuclear deal and a possible prisoner exchange.
  • Arada’s US$500m Sukuk lists in Nasdaq Dubai

    DUBAI, UAE -  Arada's US$500 million Sukuk was listed in Nasdaq Dubai. The Sukuk is the first issuance by Arada on the region’s international financial exchange, further solidifying Dubai’s position as one of the largest Sukuk listing venues globally, with a total value of US$77 billion. To celebrate the successful...
  • UAE’s foreign trade records 17% jump to US$607bn in 2022

    The boost in foreign trade comes on the back of the signing of the comprehensive economic partnership agreements that the UAE has inked so far. As the agreements take effect, a new phase of trade exchange commences that promises a substantial boost in quality and quantity, expanding the global trade...
  • UAE, Morocco speakers of parliament discuss ways to enhance cooperation

    MARRAKESH, MOROCCO - Speaker of the UAE Federal National Council (FNC) Saqr Ghobash met with Morocco Speaker of the House of Representatives Rachid Talbi El Alami on the sidelines of the Parliamentary Conference on Interfaith Dialogue here. Ghobash also met with Naam Miyara, President of the Chamber of Councillors of...
  • Iraq-UK economic ties strengthen on back of uptick in trade

    London, UK--Volume of trade exchanges between the UK and Iraq has exceeded one billion dollars and imports and exports between the two nations have been significantly growing, a senior British official said on Friday. Lord Tariq Ahmad, the British Minister of State for the Middle East, North Africa and South...
  • Qatar and Iran look to boost monetary, banking ties to propel trade

    Tehran, Iran--Qatar and Iran are looking to boost monetary and banking cooperation that would propel all-round development of trade between the two countries. In this connection, the governors of the central banks of the Islamic Republic of Iran and Qatar held talks in Doha. Iranian central bank governor Mohammad Reza...
  • Crypto exchange Binance halts US dollar deposits after action

    WASHINGTON, US -  The world's largest cryptocurrency exchange Binance said it was halting US dollar deposits and encouraged clients to withdraw their dollars by early next week, following charges leveled by the government. The US Securities and Exchange Commission on Monday charged the crypto giant with securities law violations that it...
  • US SEC sues cryptocurrency platform Coinbase

    NEW YORK, US -  US securities regulators sued Coinbase on Tuesday, alleging that the cryptocurrency platform's failure to register as a securities exchange venue exposed investors to risk. The complaint comes on the heels of Securities and Exchange Commission (SEC) charges filed on Monday against cryptocurrency exchange Binance and founder Changpeng Zhao...
  • Jordan, Iraq to boost trade through Karama border crossing

    Amman, Jordan-- Jordan and Iraq have discussed ways to boost bilateral cooperation in order to develop trade through Karama border crossing. The discussions were held in a meeting between Jordanian and Iraq ministers in Baghdad, which also focused on ways to combat terrorism, extremism, enhancing border security, countering smuggling and...
  • After five days of deadly fighting, Gaza ceasefire takes effect

    The Egypt-brokered ceasefire began in and around the Gaza Strip on Saturday after five days of violence that has killed at least 34 Palestinians. But just before it came into effect, many rockets were fired from Gaza toward Israel, prompting renewed air strikes. Taking advantage of the ceasefire, hundreds came...
  • UAE and Jordan sign MoU to boost tourism, cultural exchange

    Abu Dhabi, UAE--Looking to boost tourism and cultural exchange between the two countries, the Department of Culture and Tourism Abu Dhabi (DCT Abu Dhabi) and the Jordan Tourism Board have signed a Memorandum of Understanding (MoU) on the sidelines of the Arabian Travel Market 2023. The MoU will unlock the...
  • Jordan-US trade soars to US$745mn in first two months of 2023

    Amman, Jordan--The volume of trade exchange between Jordan and the US shot up in January and February 2023 to $745 million compared to $561 million for the same period in 2022. Foreign trade data issued by the Department of Statistics (DoS) showed that the value of Jordanian exports to the...
  • Yemen’s opposing sides to hold talks in Geneva over prisoner swap

    Negotiations overseen in Switzerland by the UN and the International Committee of the Red Cross will see Yemen's warring parties holding talks in Geneva starting Saturday to discuss a prisoner exchange, according to rebels and government officials. Hostilities have largely stopped since a UN-brokered ceasefire took effect in April last...
  • Al Ansari to sell 7.5m shares in Dubai’s first IPO for 2023

    Dubai, UAE -- Al Ansari Financial Services, a remittance and foreign exchange services provider in the UAE, will be offering 7.5 million shares (each valued AED0.01) in its IPO, which will be Dubai's first in 2023. The company said in a statement that the offering represents 10 percent of its...
  • China’s international trade in services stands at US$67.6bn in January

    Beijing, China--China's international trade in services stood at 459.5 billion yuan, or US$ 67.6 billion, in January, official data showed on Friday, Xinhua News Agency reported. Services exports totalled $25.44 billion last month, and services imports were at $40.50 billion, resulting in a trade deficit of $15.50 billion , according...
  • Egypt looks to raise US$1.5bn with sukuk at 11% yield

    Cairo, Egypt--Egypt has set an initial yield of 11.625 percent for the sale of its three-year, dollar-denominated sukuk on Tuesday as part of the country’s measures to defuse its foreign exchange crisis. The sukuk will be of benchmark size or in the range of $500 million. Egypt’s finance minister Mohamed...
  • UAE and Azerbaijan sign MoU to boost financial, banking ties

    Abu Dhabi, UAE--UAE Banks Federation (UBF) has signed a memorandum of understanding (MoU) with the Azerbaijan Banks Association to enhance cooperation and and promote the growth of the financial and banking sectors in both countries. The scope of the MoU includes organising various activities in the finance and banking sector...
  • Milaha’s profit up by 40%

    The company's net profit in 2022 jumped to $278 million.
  • Lebanese pound drops to new low against dollar

    With Lebanon's political and economic crisis showing no signs of abating, its currency on Wednesday hit a record low against the dollar on the black market. The pound has lost more than 95 percent of its value against the greenback since the beginning of the economic crisis in 2019.
  • Istanbul exchange to shut for five days, first time in 24 years

    Istanbul, Turkey---The Istanbul stock exchange announced on Wednesday that it would close for five days in response to this week's deadly earthquake, the first such shutdown since 1999. Monday's 7.8-magnitude tremor ravaged swathes of southeastern Turkey and Syria, killing at least 11,700 people and leaving thousands more homeless in the winter...
  • Muscat Stock Exchange joins Tabadul network of ADX and BHB

    Abu Dhabi, UAE--The Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) announced today that Muscat Stock Exchange (MSX) has now joined the "Tabadul" platform, the region’s first digital exchange hub, established on the mutual market access model that provides a trading network between stock exchanges regionally. As a result,...
  • Abu Dhabi stock exchange expects boom in listings in 2023

    Abu Dhabi, UAE-- The Chairman of the Abu Dhabi Securities Exchange Hisham Khalid Malak expects an increase in listings on the stock exchange in 2023. "We have a healthy pipeline of IPOs and listings with aspirations to surpass 2022. There will always be challenges, but also opportunities," he told media....
  • Qatar and EU discuss ways to enhance economic and trade ties

    Doha, Qatar-- Qatar and European Union have discussed means to enhance economic and commercial relations in a meeting between Qatar Chamber First Vice-Chairman Mohamed bin Twar Al Kuwari and Thomas Jurgensen, Minister Counselor and the new head of Trade and Economic Affairs Section at the European Union During their meeting...
  • Woqod posts 10% profit rise

    The firm's profit jumped to $294 million at the end of last year.
  • UAE Ministry of Finance, Dubai Free Zones Council sign MoU on sharing of information

    DUBAI, UAE - UAE Ministry of Finance (MoF) Tuesday signed a Memorandum of Understanding (MoU) with the Dubai Free Zones Council (DFZC) on the exchange of information for tax purposes. This comes in line with the ministry’s continuous efforts to ensure that  commitment of various government entities in the UAE...
  • China’s foreign exchange reserves swell to US$3.127trn

    Beijing, China--China's foreign exchange reserves rose to US$3.1277 trillion at the end of December 2022, up 0.33 percent from a month earlier, data from the State Administration of Foreign Exchange showed Saturday. The foreign exchange regulator attributed the increase in foreign exchange reserves to the combined impact of currency translation...
  • Market cap of Arab bourses hits US$4trn at end of 2022

    Abu Dhabi, UAE--The market cap of Arab stock exchanges has vaulted to $4 trillion by the end of 2022, according to the Arab Monetary Fund (AMF). The AMF said in a statement that the market value of the Abu Dhabi Securities Exchange reached $714.6 billion in the reference year, while...
  • Jordanian-Bahraini business forum explores investment opportunities

    AMMAN, JORDAN - The Jordan Chamber of Industry (JCI) organized the Jordanian-Bahraini Business Forum in Bahrain's capital, Manama, to increase the volume of trade exchange, discuss means of enhancing cooperation, and showcase investment opportunities in the two countries.JCI President Fathi Jaghbir underlined the need to set in motion a new...
  • Pro-Haftar pilot released in Libya prisoner swap

    Tripoli, Libya--Libya's unity government has carried out a prisoner exchange with rival eastern forces, releasing a pilot captured during strongman Khalifa Haftar's 2019 assault on Tripoli, local media reported Monday. According to the reports and images on social media, pilot Amer al-Orfi al-Gajam was exchanged for 15 prisoners held by Haftar's...
  • UAE and Morocco to shore up cooperation to combat terrorism

    Rabat, Morocco-- The UAE and Morocco are looking at ways to bolster cooperation and exchange experiences in order to combat terrorism. In this regard, a delegation from the Executive Office for Control and Non-Proliferation (EOCN), headed by Rashid Al Mannai, Director of the Targeted Financial Sanctions Department, met with members...
  • UAE, Saudi equities rebound, record gains

    Saudi and the UAE equities beat sluggishness of the past few weeks, recording gains across many sectors, with Abu Dhabi index posting gains not seen since last October.
  • Boursa Kuwait, Tadawul sign pact

    The deal is expected to boost capital markets in the region.
  • Dubai races ahead to be global epicenter for crypto

    While the crypto ecosystem still reels from the collapse of FTX, and investor apprehension about the future of the digital asset, Dubai's regulatory mechanism to oversee cryptocurrency entices big players to the city.
  • FTX founder Sam Bankman-Fried arrested in the Bahamas

    Nearly a month after the downfall of FTX, its founder Sam Bankman-Fried was arrested in the Bahamas at the request of the US. He is scheduled to appear before a US Congress hearing in which he is to testify under oath about the crypto exchange's sudden fall.
  • Abu Dhabi inks MoU with African Union in public health

    ABU DHABI, UAE - Abu Dhabi Public Health Center (ADPHC) has signed an agreement with the Africa Centers for Disease Control and Prevention (Africa CDC) to advance research and knowledge exchange and facilitate collaboration across key public health areas. The agreement was signed by Director-General of the ADPHC Matar Saeed...
  • Abu Dhabi, Kyrgyzistan’s Bishkek City sign twinning agreement

    Abu Dhabi, represented by Abu Dhabi's Department of Municipalities and Transport, and Bishkek City have signed a twinning agreement to strengthen cooperation between the two cities and further enhance relations between the UAE and the Kyrgyz Republic.
  • UAE equities vault on the back of high oil prices

    High oil prices drove equities up on both the Abu Dhabi Stock Exchange and the Dubai Financial Market, but Saudi equities did not follow the trend, remaining subdued toward the close of the week.
  • Tadawul market cap vaults

    Its value is $2.8trn in the first nine months of the year.