Reason for the GCC’s prosperity is that it is willing to take risks: Tadeu Baldani Caravieri
The Gulf economies face disruptions but embrace risk to grow, says Tadeu Baldani Caravieri, founder of Prototypes for Humanity, on...
Economy
Saudi Arabia’s merchandise imports rise 8 percent to $19.34bn in Jan
Riyadh, Saudi Arabia -- Saudi Arabia’s merchandise imports increased 8 percent year-on-year (YoY) to SAR 72.6 billion ($19.34 billion) in...
Business
PureHealth offer price $0.89 per share
The IPO witnesses demand of over AED 265bn ($72.15bn).
- The offering will generate gross proceeds of AED 3.62 billion for the company. On listing, the company’s market capitalization is expected to reach AED 36.2 billion.
- Listing and trading commencement of PureHealth’s shares on ADX are expected to take place on 20 December 2023.
Geostrategy
Arab meet calls for more investments in renewable energy
Speaking at the 12th Arab Energy Conference organized by the Organization of Arab Petroleum Exporting Countries (OAPEC), Qatar's Energy Minister...
- OAPEC Secretary General Eng. Jamal Issa Al Loughani emphasized the conference's focus on international energy market developments and their local and global implications.
- He called for a careful balance between emission reduction, energy availability and affordability, while underscoring challenges in building sustainable energy systems.
Economy
Oman’s revenues drop by 17 percent in nine months of 2023
Muscat, Oman -- Oman's revenues for the nine-month period of 2023 declined 17 percent to 9.8 billion riyals ($25.45 billion),...
- During the nine-month period, the budget recorded a financial surplus of about RO 830 million, compared to a surplus of RO 208 million in the same period of 2022.
- Net gas revenues until the end of last October decreased by 43 per cent to reach RO 734 million compared to RO 3 billion and 51 million.
Business
NDMC secures syndicated international loan worth $11bn
Riyadh, Saudi Arabia -- The National Debt Management Center (NDMC) completed the arrangement of a syndicated international loan worth $11...
- A total of 14 international financial institutions from Asia, the Middle East, Europe, and the US participated in the 10-year loan.
- The success of this loan arrangement proves the Kingdom’s proactive trends to provide financing resources that achieve economic growth and diversification, NDMC said.
Business
NEOM launches ‘Topian’ to ensure climate-proof agriculture in Saudi
NEOM, Saudi Arabia: NEOM, a mega-city project in Saudi Arabia characterized by futuristic urban planning and advanced technologies, Sunday announced the...
- Topian has been launched with the support of the Saudi Ministry of Environment, Water and Agriculture (MEWA).
- Topian has signed numerous local and international strategic partnership agreements with organizations that share Topian’s commitment to reshaping the future of food.
Business
Over-confidence leaves UAE consumers prone to online frauds: Visa study
Dubai, United Arab Emirates – Over-confidence is leaving consumers in UAE open to becoming victims of fraud, according to Visa’s...
- Ninety-percent respondents likely to disregard the warning signs that suggest online criminal activity even though 61% claim to be savvy enough to sidestep scams.
- Just over one in two people (54 percent) in the UAE has been a victim of a scam at least once compared to the global average of 52 percent.
Business
Saudi Crown Prince launches urban plan of Qiddiya city
Riyadh, Saudi Arabia -- Crown Prince Mohammad bin Salman, Prime Minister and Chairman of the board of directors of the...
- Qiddiya city will become, in the near future, the foremost global destination in the fields of entertainment, sports, and culture, Argaam reported.
- Work on the project has already begun by pumping about SAR 10 billion into the construction projects. The first assets are expected to be inaugurated in the next two years.
Geostrategy
North-South Corridor, Palestine key agenda of Raisi-Putin talks in Moscow
Dubai, UAE – Iranian President Ebrahim Raisi, ahead of his visit to Moscow, has emphasized the importance of the North-South...
- Speaking at Tehran’s Mehrabad airport before departing for Russia, Raisi indicated that both Iran and Russia are eager to accelerate the construction of this transport project.
- The Kremlin press service confirmed that the discussions between Putin and Raisi will cover various subjects, including trade and economic cooperation
Business
ROSHN, Retal sign $99m deal
363 single-family villas will be constructed in Riyadh.
- SEDRA, spanning eight phases over 35 million square meters, integrates nature and local heritage, creating a unique living experience.
- The latest agreement with Retal underscores the commitment to delivering a modern, upscale, and sustainable urban community, ROSHN said.
Real estate deals in Bahrain decline marginally in third quarter: CBRE
Manama, Bahrain - Real estate transactions in Bahrain recorded a marginal 2.5 percent decline in Q3 2023, totaling 5,145 compared to the...
- Quoted apartment sales experienced a slight decrease of 1.7 percent, while apartment rents rose by 3.2 percent.
- Villa rents and sales, on the other hand, saw significant increases of 4.3 percent and 1.2 percent, respectively
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Reason for the GCC’s prosperity is that it is willing to take risks: Tadeu Baldani Caravieri
The Gulf economies face disruptions but embrace risk to grow, says Tadeu Baldani Caravieri, founder of Prototypes for Humanity, on...
Economy
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Business
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Geostrategy
China’s new tariffs policy to hasten industrial transformation
Beijing, China -- China's import and export tariff adjustments on some goods took effect on Monday, including implementing provisional import...
Economy
Qatar’s industrial sector PPI down in Nov on lower oil prices
Doha, Qatar -- Qatar's Producer Price Index (PPI) of the industrial sector in the country for November was 118.65 points,...
Economy
Most Read
Business
Makeen, Rolls-Royce forge partnership
They will manufacture, test, sell and service mtu engines in Saudi.
- The deal marks a milestone for the industrial development of the Kingdom’s rapidly growing marine and off-grid power generation sectors, according to the release, Aramco said.
- Makeen aims to deliver state-of-the-art solutions to meet the evolving demands of our valued customers in oil and gas, said Makeen CEO Abdullah Al-Ghamdi.
Business
Qatar’s foreign merchandise trade surplus $4.58 billion in Nov 2023
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...
- Total exports of goods amounted to around QR 26.5bn in Nov 2023, showing a decrease of 28.6 percent compared to Nov 2022, and a decrease of 8.8 percent compared to Oct 2023.
- In Nov 2023, China was at the top of the countries of destination of Qatar's exports with close to QR 5.4 billion, a share of 20.4 percent of total exports.
YEARBOOK 2023
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
- UAE launched ALTÉRRA, the world’s largest private investment climate action vehicle, aimed at raising and mobilizing an additional $250bn for climate action.
- Despite global headwinds, CBUAE projects 3.3 percent year-on-year growth projected for the UAE economy in 2024.