BEIJING, CHINA – Chinese regulators will ban the chairman of property giant Evergrande from the securities market for life on grounds of financial fraud, a subsidiary of the company said on Monday. Heavily indebted Evergrande has become a potent symbol of the years-long crisis in China's property market, a crucial pillar...

Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of more than 3% during 2025-2028, according to a report released by GlobalData, a data analytics and consulting company, headquartered in London. The growth is attributed to the increase in investments...

Abu Dhabi, UAE--Ireland wants to become a gateway for the UAE and other Gulf states to the European Union (EU) market, Simon Coveney, Ireland’s Minister for Enterprise, Trade and Employment, told the Emirates News Agency (WAM). As evidence of thriving relations, he highlighted the growing Irish diaspora in Gulf Cooperation...

Dubai, UAE - The UAE’s foodservice market is poised to reach $19.98 billion in 2024, with further projections indicating a substantial growth trajectory, a whitepaper released by real estate services firm JLL has revealed.  The whitepaper highlights the unprecedented growth opportunities within the UAE's Food and Beverage (F&B) industry.  The report...

ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce within the next 12 to 18 months, subject to three potential catalysts, CNBC reported, citing Citi analysts. Aakash Doshi, Citi’s North America head of commodities research, told CNBC that gold...

DUBAI, UAE - The total M&A market dropped 15 percent, to US$3.2 trillion, the lowest level in a decade, as dealmakers grappling with high interest rates, regulatory scrutiny and mixed macroeconomic signals had to be more selective about which deals to pursue in 2023. But the biggest obstacle was the...

New York, United States - Wall Street stocks rose early Thursday, rebounding from the prior session's pullback as markets awaited more big tech earnings later in the day. Major indices had tumbled on Wednesday after Federal Reserve Chair Jerome Powell dampened expectations for an imminent cut in interest rates. Adam Sarhan...

Geneva, Switzerland-- Air cargo demand rebounded in 2023 with a particularly strong fourth quarter performance despite economic uncertainties, according to new data for global air-freight market released by the International Air Transport Association (IATA). As per the new data full-year demand reached a level just slightly below 2022 and 2019....

The firm said the new brand will replace MiCCO Logistics.

Europe's main stock markets shot higher, with Paris closing at a record high as shares in LVMH surged on record annual profits at the French luxury group. Wall Street's main indices pushed further into record territory as inflation dipped according to the US Federal Reserve's preferred gauge.

The US Federal Reserve's favored measure of inflation ticked higher last month, according to government data published. The latest announcement will likely ensure the US central bank keeps interest rates on hold at its next decision announcement on Wednesday, as policymakers continue talks on when to start cuts.

Hong Kong-- The global Islamic finance market would touch US$4.9 trillion by 2025, according to Yazrin Syakhairi, Malaysian Trade Commissioner at the Consulate General of Malaysia in Hong Kong. Speaking on the sidelines of the Asian Financial Forum (AFF) in Hong Kong, Syakhairi told the Emirates News Agency (WAM) that...

New Delhi, UAE--India's stock market has edged out Hong Kong to become the world's fourth-largest, a milestone that underscores growing global investor optimism about New Delhi's economic prospects, Bloomberg said Tuesday. The total value of shares listed on Indian exchanges hit $4.3 trillion on Monday, slightly higher than Hong Kong's...

Kwon, who co-founded Terraform in 2018, was arrested last year in Montenegro and is awaiting extradition to the United States or South Korea. The collapse of the Singapore-based firm's TerraUSD and Luna wiped out around $40bn in investments and caused wider losses in the global crypto market estimated at more...

BEIJING, CHINA - The logistics sector in the country achieved steady recovery in 2023 and the country remains the world's largest logistics market in terms of demand, China Federation of Logistics and Purchasing said. According to a report from CCTV, He Liming, the chairman of the China Federation of Logistics...

The tech giant's market value has surged by over $1 trillion.

DUBAI, UAE - Nasdaq Dubai has welcomed the listing of a US$600 million green bond by China Construction Bank (DIFC Branch). The green bond issuance targets combating climate change, represents China Construction Bank's significant commitment to sustainable financing and highlights the growing synergy in green financing between China and UAE....

DUBAI, UAE - Worldwide PC shipments totaled 63.3 million units in the fourth quarter of 2023, a 0.3 percent increase from the fourth quarter of 2022, according to preliminary results by Gartner, Inc. This marks the first time that quarterly shipments have increased after eight straight quarters of decline, a...

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

Dubai, UAE--Brokerage firms at the Dubai Financial Market (DFM) opened 57,054 new investor accounts in 2023, marking a significant increase of 12.5% over the previous year, according to data released by the DFM. The growth was driven by a number of factors, including the strong momentum in the market since...

MUSCAT, OMAN - Maisarah Islamic Banking Services, Islamic window of BankDhofar, acted as an Issue Manager for the Sovereign Sukuk Series 7 issuance on behalf of the government. The Sukuk-Al-Ijara structure has a seven-year maturity and was conducted through private placement to sophisticated investors in Oman. The issuance has been...

ABU DHABI, UAE - The prices of petrol and diesel are set to decrease in the country in January following fluctuations in the global oil market. This change reflects a continuous trend observed in the fuel prices over the past few months, with September and October witnessing increases and November...

Abu Dhabi, UAE--The insurance sector in the UAE witnessed growth and expansion across various key indicators during 2022, according to a report by the Central Bank of the UAE, reflecting a strong, dynamic, and active market driven by increasing demand and effective risk management. According to the apex bank's annual...

It would sell China-developed EVs all over the world.

AMMAN, JORDAN - National Cyber Security Center (NCSC) seeks to regulate the Kingdom's cybersecurity market by outlining and endorsing the related legislation.In a statement to "Petra," NCSC head, Bassam Maharmeh, said one of the center's key measures focuses on issuing Cybersecurity Services Licensing System, which would "effectively" contribute to strengthening...

The EU's internal market commissioner, Thierry Breton. called the deal as historic, regulating artificial intelligence models such as ChatGPT. Negotiators in Brussels nailed down curbs on how AI can be used in Europe, which they said would not hurt innovation in the sector nor the prospects for future European AI...

DUBAI, UAE — The supply of under construction warehouse stock in Dubai’s industrial market stands at 1.56 million square feet according to Knight Frank's latest report: Dubai & Abu Dhabi Industrial Markets Review, Q3, 2023. According to Knight Frank, demand is outstripping supply and occupiers are faced with the prospect of...

Abu Dhabi, UAE-- The world's top heads of multinational companies, policy-makers, and investors will gather in Abu Dhabi today to take part in the three-day long "the Fortune Global Forum" to discuss major challenges faced by the global economy. Organised by the Abu Dhabi Department of Economic Development (ADDED), the...

RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of investments, Abdulrahman Altawil, the Kingdom’s Deputy Minister, Developmental Housing, Municipal and Rural Affairs and Housing said here. This reflects their confidence in the Egyptian market, he said. In a speech...

Texas, US--Oil prices hardly moved during Asian trade on Wednesday as the market awaited potentially mixed news on the supply front, with the OPEC+ producers group expected to discuss output cuts and U.S. crude stocks forecast to show a big build-up. Brent crude futures fell 3 cents, or 0.04%, to...

Dubai, UAE--The Dubai Financial Market (DFM), Nasdaq Dubai, and Shanghai Stock Exchange (SSE) have signed a memorandum of understanding (MoU) to further strengthen the ties between the capital markets of Dubai and China. This partnership marks a significant milestone in cross-border collaboration. It will not only facilitate the exchange of...

DUBAI, UAE – The Dubai Land Department (DLD) is committed to providing property owners with easily accessible resources to reinforce transparency within the real estate market and promote adherence to relevant laws and regulations. The official list of accredited companies and valuation offices is available on DLD’s official website (dubailand.gov.ae)...

Riyadh, Saudi Arabia -- More than 70,000 transactions worth SAR 56 billion ($14.92 billion) have been conducted on Saudi Arabia's Real Estate Market since its launch about two months ago. The traded real estate areas amounted to about 550 million square meters (sqm), Argaam reported. Real Estate Market provides its...

Dubai, UAE-- Describing the COP28 as a huge moment for the world and the UAE, Andrew Griffith, Economic Secretary to the UK Treasury, said the whole world's eyes "will be here." Speaking to the media in Dubai, he said that sustainable finance will be central to the global event. He...

DOHA, QATAR - Qatar has agreed to supply Sinopec with natural gas for 27 years, the Gulf emirate's state-owned energy company said on Saturday, its second such deal with the Chinese firm.   Doha will supply three million tonnes of gas a year under the deal, QatarEnergy said, announcing another agreement granting...

The UAE's central bank has kept its Base Rate for the Overnight Deposit Facility (ODF) unchanged at 5.40 percent. It is closely tied to the US Federal Reserve's Interest on Reserve Balances (IORB), reflecting the general stance of the CBUAE's monetary policy. Qatar Central Bank too has maintained its current...

Its revenue rose to US$4.72bn in the first 9 months of 2023.

AJMAN, UAE – Real estate transactions in August achieved a growth of 61.5 percent compared to the same period in 2022, totalling over US$408 million  while trading volume reached US$181 million, Department of Land and Real Estate Regulation in Ajman said. Director-General of the Department of Land and Real Estate...

Doha, Qatar -- Qatar real estate market recorded deals worth QR1.011 billion ($277 million) in the month of August 2023, the emirate's Real Estate Registration Department data showed. The data said that a total of 297 real estate transactions were recorded during the month. Doha, Al Rayyan, and Al Wakrak...

GCC countries employ close to 20 million foreign workers, who are subject to vastly different conditions and wags compared to the nationals.

The global firm will provide investment banking services.

Kuwait City, Kuwait -- The Arab Monetary Fund has said that the market capital in Arab bourses reached US$4.5 trillion at the end of last week's trade, climbing by 1.2 percent.The fund's weekly report said the market capital of BouKuwait amounted to US$137.5 billion, that of the Abu Dhabi stock...

Its shares will begin trading on the bourse later this month.

Tencent last year posted its first decline in quarterly sales since its listing.

Its cargo revenue recorded a 42% jump in H1 to US$57.9m.

It posted gains in one week on the back of company results.

The investment giant was hit by a drop in the share prices of major holdings.

Dubai, UAE -- Dubai's real estate market recorded real estate deals worth more than AED 2 billion ($544 million) on Tuesday, Dubai Land Department said. The deals include 433 sales transactions worth AED1.7 billion, in addition to 90 mortgage deals totaling AED270.28 million, and 37 gift deals amounting to AED69.36...

Dubai, UAE--The UAE's real estate market has recorded a strong performance across all sectors in the first half of the year as non-oil economy witnesses strong growth in spite of global macroeconomic headwinds. According to a market report by CBRE, rental performance in Abu Dhabi’s occupier market showed substantial improvement...

It fell to US$25.6 million in H1 of 2023, a 21.4 percent drop.