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...
Riyad Bank Saudi PMI down to 57.5 points in November
Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Manager's Index (PMI), formerly S&P Global Saudi Arabia PMI,...
Business
Business
Boubyan Bank 2022 net profit $189m
The bank will pay 6 fils in cash and 6% in bonus shares.
- The total consolidated assets of Boubyan Bank Group increased to KD 7.9 billion at a growth rate of 7 percent.
- The bank said the total of customers’ deposits grew by 6 percent to reach KD 6 billion, while the financing portfolio grew by 7 percent to reach KD 5.9 billion.
Videos
Resilient UAE health sector attracts job seekers
At G20's first Health Working Group meeting in India, UAE affirmed its commitment to play an active role in addressing...
- One of the prominent successes of Nafis program has been the inclusion of local students in health sector cadre development.
- A UAE delegation attended G20's first health working group session held in India from January 18 -20.
Business
Qatar joins consortium to explore Lebanon’s offshore gas
The deal will see the state-run QatarEnergy receive a minority 30 percent stake in two blocks of Lebanon's exclusive economic...
- The pact greenlights Lebanon's exploration of its southern Sidon reservoir following the signing of the landmark deal last Oct demarcating its maritime borders with Israel.
- Under a United States-brokered accord, Lebanon and Israel, which are officially still at war, delimited their maritime borders in October 2022.
Business
Qatar’s planning authority, Microsoft to push emirate’s digital goals
Doha, Qatar-- Qatar's Planning and Statistics Authority (PSA) and Microsoft have signed an MoU to support the digital transformation in...
- The MoU will enable the Authority to implement projects, disseminate data and statistics, and support sustainability in line with Qatar National Vision 2030.
- Microsoft will provide PSA with full support, full access to global industry specialists, as well as support in artificial intelligence activities.
Business
Abu Dhabi customs to clear goods for non-residents, outside firms
Abu Dhabi, UAE– The General Administration of Abu Dhabi Customs has announced the provision for the possibility of clearing goods...
- This move aims to facilitate customer experience, reduce effort and time, and provide digital customs services in accordance with international best practices.
- The new feature allows non-resident individuals to clear their personal goods by creating a UAE Pass account through their passports.
Geostrategy
Anger among Palestinians spreads after Israel raid that killed nine
The operation, which Israel said targeted Palestinian fighters planning an attack, killed nine people and for Palestinians recalled the bloodshed...
- Analysts have warned of more violence to come, after the deadliest year in the West Bank since the UN started tracking the death toll in the occupied territory in 2005.
- The PA announced late Thursday that it was severing security coordination with Israel for the first time since 2020.
Business
SAL Saudi Arabia, Menzies sign MoU
The MoU is aimed at improving services at kingdom's airports.
- Menzies will provide all studies to SAL Saudi Arabia on the transfer of best practices globally to improve the level of passenger services and baggage management.
- It also involves smooth passenger services, from issuing a boarding pass to take-off.
Business
Saudi Arabia, Italy sign MoU to set up reinsurance framework
Rome, Italy-- The Saudi Export-Import Bank has signed a memorandum of understanding with the Italian Export Credit Agency (SACE) which...
- The MoU was signed by EXIM Bank CEO Eng. Saad bin Abdul Aziz Alkhalb and Italian Credit Export Agency CEO Alessandra Ricci at her agency’s headquarters in Rome.
- The MoU is expected to boost cooperation in the areas of professional development, transfer of knowledge of best practices in export credit,
Business
Emirates NBD’s 2022 net profit $3.53 bn
The rise was driven by strong regional economic growth.
- The bank's Q4 profit was particularly strong, at AED 3.9 billion, up 94 percent year-on-year.
- The bank also proposed a 20 percent increase in the cash dividend to 60 fils per share.
Business
Emirates Islamic 2022 net profit $337m
The profit was driven by funded and non-funded income.
- The bank also reported a 36 percent increase in operating profit and a 15 percent increase in total assets to AED 75 billion.
- The bank's total income went up 33 percent year-on-year driven by higher funded income and non-funded income.
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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...
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UAE most competitive MENA economy
The 2023 IMD World Competitiveness Ranking placed the UAE among the world's 10 most competitive economies.
Infographics
Future100 secures 25 new partnerships to support emerging firms
Dubai, UAE -- Future100, a collaborative initiative between the Ministry of Economy and the Government Development and the Future Office,...
Business
UAE foreign minister participates in high-level meetings of UNGA 78
New York, United States -- Sheikh Abdullah bin Zayed Al Nahyan, UAE's Minister of Foreign Affairs, hosted a reception at...
Geostrategy
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Geostrategy
Iraqi PM planning to visit Moscow in coming weeks: Foreign Minister
Baghdad, Iraq -- Iraq is working to complete the necessary preparations for the visit of Prime Minister Muhammad Shiaa Al-Sudani...
- Foreign Minister Fuad Hussein met with his Russian counterpart Sergey Lavrov on the sidelines of UN General Assembly.
- "The two sides discussed prospects for joint cooperation and developing bilateral relations between the two countries," Iraqi foreign ministry said.
Business
Qatar records real estate sales contracts worth $60 million
Doha, Qatar -- The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
- Total sales contracts for residential units in the Real Estate Bulletin for the period from 10 Sept. to 14 Sept. 2023, is QR 88.73 million.
- The volume of real estate trading in sales contracts between Sept. 3 and Sept. 7 reached more than QR 308 million.
Business
Qatar Central Bank issues treasury bills worth $137 million for a week
Doha, Qatar -- Qatar Central Bank (QCB) issued treasury bills worth QR 500 million ($137 million) for a one-week term,...
- Earlier this month, QCB issued treasury bills for one week that amounted to QR 1 billion.
- Treasury bills are a short-term debt instrument issued by the government for the purpose of borrowing and providing cash liquidity in short terms.