MUSCAT, OMAN - Omani banks listed on the Muscat Stock Exchange (MSX) recorded net profits of US$1.17 billion (RO453.5 million) in 2023, up 18.6 percent from US$992 million (RO382.3 million) in 2022. According to the Oman News Agency, the banking sector benefited from several local economic indicators in 2023, including...

Washington, US - US economic growth was stronger than expected in the final months of 2023, government data showed Thursday, offering a boost to President Joe Biden as he starts his reelection campaign. The world's biggest economy expanded at an annual rate of 3.3 percent in the fourth quarter, fueled by...

Dubai, UAE--DMCC has kicked off the ninth edition of its global trade roadshow, Made For Trade Live, in London, seeking to attract a greater amount of foreign direct investment (FDI) from the United Kingdom. DMCC is the world’s flagship free zone and Government of Dubai Authority on commodities trade and...

SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant demand and securing approximately US$84 million (AED310 million) in sales transactions for its residential projects. CEO of Alef Group Issa Ataya said, “ACRES was a good opportunity to connect with...

Doha, Qatar--The Qatar Chamber (QC) discussed ways to enhance cooperation and exchange expertise with Korean companies in agriculture and food security. The issues were discussed in a meeting with a Korean delegation representing from the Hyundai Research Institute (HRI). The meeting was attended by QC board member and Chair of...

Abu Dhabi, UAE -- The UAE recorded the second-highest increase in the number of new foreign investment projects around the world after the US in 2023, a report by the United Nations Conference on Trade and Development (UNCTAD) said. The number of these projects increased by 28 percent compared to...

It will meet growing demand for internet services in the region.

It posted a 31% jump in net profit to US$229.13m in 2023.

Riyadh, Saudi Arabia - Turkish-based Tosyali Holding is making nearly $5 billion investment in a new steel plant in Saudi Arabia, Bloomberg reported. The investment is part of Tosyali Holding's broader expansion strategy, which encompasses ventures in Algeria, Angola, Senegal, and Spain. “Our aim is to make the best quality...

Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) has held discussions with the Arab Authority for Agricultural Investment and Development (AAAID) to support business community and foster trade and investment between the two entities. The discussions took place at the chamber's headquarters, where Abdullah Sultan Al Owais, Chairman of...

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to $182.43 billion at the end of November 2023, marking a significant surge in its financial strength. This impressive growth is revealed in the bank's latest balance sheet report. The report highlights a robust...

Riyadh, Saudi Arabia - Iran wants to elevate the levels of trade and investment exchanges with Saudi Arabia to the highest volume in the region, Iran's ambassador to Saudi Arabia, Alireza Enayati, said during his meeting Sunday with the President of the Federation of Saudi Chambers, Hassan bin Mujab Al-Huwaizi....

Doha, Qatar--Qatar and Czech Republic are looking to ramp up trade and investment cooperation between the two countries. In this regard, Qatar Chamber Acting General Manager Ali Saeed Bu Sherbak Al Mansouri met here on Sunday with CEO of the Czech Trade Promotion Agency (CzechTrade) Radomil Dolezal. The meeting took...

"This is in the service of humanity and in building an interconnected and innovative future in various fields, including public health, sustainability, energy, industry, and the economies of the future. This aligns with the ambitions and national priorities for research, development, and innovation declared by the Kingdom," he adds.

RIYADH, SAUDI ARABIA – The third edition of the Future Minerals Forum (FMF), organized by the Kingdom’s Ministry of Industry and Mineral Resources, has witnessed the signing of several memoranda of understanding (MoUs) between a number of government agencies, companies and institutions. New exploration sites were announced as well as...

Dubai, UAE-- The UAE and Costa Rica have concluded negotiations to sign a comprehensive economic partnership agreement. In this connection, Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Manuel Tovar, Minister of Foreign Trade of Costa Rica, have signed a joint statement to confirm...

"As 2024 unfolds, we anticipate that both private and public enterprises will increase their investments in the infrastructure and services of the crypto ecosystem. This trend bodes well for the growth of the UAE’s crypto sector. There's every reason to believe that institutional investment will continue to gain momentum," she...

These residency products offer several benefits, including the ability to conduct business and invest in Saudi Arabia, own real estate, obtain work permits for themselves and family members and access exclusive perks and services provided by the Premium Residency Center in collaboration with government partners.

Abu Dhabi, UAE--The UAE Ministry of Investment has signed three memorandums of understanding (MoUs) with India, setting out frameworks for the expansion of bilateral investment cooperation in the renewable energy, food processing and healthcare sectors. The agreements were signed by the respective Indian ministries, underscoring the UAE’s strong commitment to...

Brussels, Belgium - The EU, racing to regulate the fast-moving world of artificial intelligence, said on Tuesday it has started a preliminary study of Microsoft's multi-billion-dollar investment in ChatGPT developer OpenAI to see if it could be a disguised merger. The early-level examination is "checking whether Microsoft's investment in OpenAI might...

Global growth is set to slow from an estimated 2.6 percent in 2023 to 2.4 percent this year, 0.75 percentage points below the average of the 2010s, the World Bank said in its latest report on the health of the global economy. If the forecast proves accurate, 2024 would mark...

The developer will expand business in Dubai, Abu Dhabi.

RIYADH, SAUDI ARABIA - The Federation of Saudi Chambers and the National Center for Marketing and Price Study at the Ministry of Foreign Affairs of Belarus signed on Monday a memorandum of understanding to boost investment and trade between the two countries. The memo was signed at the federation's headquarters...

DUBAI, UAE – The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), a part of Dubai Department of Economy and Tourism (DET), has joined forces with Chi-X Digital Assets (CXDA), an AI-based fintech platform. CXDA provides short-term debt products that help generate liquidity, facilitate investment, maximize...

It is part of the company's planned US$2bn investment.

Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home territory.

HALEU fuel is needed to power many of the next generation of advanced nuclear reactors, including so-called small modular versions that the UK intends to use. The first plant of the uranium fuel will be in northwest England and is scheduled to be operational by the 2030s, the government said.

Doha, Qatar--Qatar National Bank (QNB) expects the global economic growth to be around 2.9 percent in 2024, roughly the same rate as last year. QNB, in its weekly commentary, said, "There is no doubt that expectations for 2024 were influenced by the experience of investor sentiment from 2023, when negative...

Dubai, UAE - The UAE has issued a law establishing ‘Parkin’, a public joint stock company (PJSC) that will oversee operations related to parking spaces in Dubai. The newly established company will have financial, administrative and legal autonomy to fulfil its responsibilities, WAM reported. Also, the company's duration is set...

Riyadh, Saudi Arabia-- The Saudi Ports Authority also known as Mawani strengthened the maritime and logistics sectors with an investment of US$3.46 billion during 2023, contributing to the kingdom's growth in international indicators and solidifying its position as a global logistics center. In order to enhance the attractiveness of Saudi...

Halliburton has been operating in the UAE for five decades.

The distribution ratio of the NAV stands at 0.10 percent.

In 2023, Saudi Arabia, UAE, Qatar, Bahrain, Oman and Kuwait collectively advanced in technology and sustainable development, achieving global integration.

Muscat, Oman - Oman's achieved a 15.4% year-on-year sector growth, as reported by the National Center for Statistics and Information (NCSI). The growth revolves around a rapidly evolving landscape, propelled by strategic investments and diversification endeavors. Maritime freight was at the forefront, commanding a significant 54.8 percent share of all...

Abu Dhabi, UAE - The United Arab Emirates was named the most economically competitive nation in the Arab world, a report on Arab Economic Competitiveness Index released by the Arab Monetary Fund (AMF). UAE's sustained progress across crucial sectors, including its economy and investment environment are said to be the...

Dubai, UAE – Oman, Qatar, and the United Arab Emirates, particularly Dubai, have secured top positions for residential property investment in 2024, the inaugural "Housearch Investment Index" highlighted in its report. The trend underscores the region's appeal as a stable and reliable investment haven, especially amidst cooling property markets in...

Abu Dhabi, UAE-- Kings Aluminium Industries has begun constructing a state-of-the-art aluminium manufacturing and recycling facility in Khalifa Economic Zones Abu Dhabi (KEZAD Group), the largest operator of integrated and purpose-built economic zones. With a total investment of $204.22 million by Kings Aluminium Industries, the facility in KEZAD will be...

Shenzhen, China - Saudi Ministry of Environment, Water and Agriculture discussed ways to enhance investments between the Kingdom and China in the aquaculture sector with representatives of more than 60 specialized Chinese companies. The National Fisheries Development Program, a delegation of Saudi ministry, participated in the Global Investment Promotion Conference,...

DUBAI, UAE – Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has issued Law No. (25) of 2023 establishing the Dubai Investment Fund as an independent public entity operating on a commercial basis. The law also endows the Fund with the financial and administrative...

Dubai, UAE - Trina Solar, a Chinese renewable energy company, announced on Thursday plans to invest US$5 billion to create an integrated solar power generation chain in the UAE, its CEO Katherine Gao said. The project is expected to create jobs for more than 7,000 people. Gao said Speaking to...

RIYADH, SAUDI ARABIA -  Awaed Alosool Capital announces the launch of the Awaed platform, revolutionizing investment opportunities in public listed companies. Awaed Alosool unveils an innovative platform dedicated to empowering individuals in Saudi Arabia with seamless access to Sharia compliant investment in various financial instruments, including investment funds and stock markets.Awaed...

The approaching 1 Jan deadline has seen investments on headquarters hit $242m in the first nine months of 2023 alone, compared to $214m from 2013-20.

The approaching 1 Jan deadline has seen investments on headquarters hit $242m in the first nine months of 2023 alone, compared to $214m from 2013-20.

Abu Dhabi, UAE--ADQ and Qazaqstan Investment Corporation have established a co-investment platform focused on high-growth sectors such as food and agriculture, mobility, healthcare, energy transformation and clean technology, financial services technology, and education technology. The platform aims to explore and leverage investment opportunities in Kazakhstan as well as other countries...

Istanbul, Turkey - Saudi and Turkish companies, part of the Saudi-Turkish Business Council, signed eight trade agreements to strengthen trade and investment between the two countries. The Federation of Saudi Chambers, Saudi General Authority of Foreign Trade, and Turkish Foreign Economic Relations Board co-organized the meet between the two. It...

The firms have jointly launched a climate investment platform.

Abu Dhabi, UAE - The UAE and Philippines signed an agreement to create a framework for investment in the digital infrastructure sector, with a special focus on data centers. As physical facilities that organizations use to store critical data and run applications, data centers are vital parts of the digital...

The discussions between the UAE president and the Cuban president at Expo City Dubai focused on cooperation in various fields particularly in the economic, investment, developmental, renewable energy, and sustainability sectors, aiming to broaden their scope to fulfil the aspirations of both nations for development and prosperity.

Abu Dhabi, UAE - The UAE and Pakistan recently sealed a significant deal, potentially injecting between $20 to $25 billion into Pakistan's struggling economy, according to media reports. The agreements, covering diverse sectors like energy, ports, food security, and finance, were signed after a meeting between caretaker Prime Minister Anwaarul...

Beijing, China - China's central bank and several government agencies unveiled 25 new measures Monday to support private economy. These initiatives aim to diversify financial avenues for private businesses, marking a continued effort to bolster the sector crucial for the country's economic progress. According to Global Times, these measures represent...