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...
Business
Infographics
UAE remains the most innovative Arab economy
The Global Innovation Index ranks the countries on 81 indicators across seven categories, including Business Sophistication, Infrastructure and Technology Outputs...
- GII 2022 said this edition’s thematic focus on the future of innovation-driven growth provides a perspective on whether stagnation and low productivity growth are here to stay.
- It tracks the most recent global innovation trends against the background of an ongoing COVID-19 pandemic and slowing productivity growth.
Geostrategy
UAE, Oman education ministers discuss cooperation in the sector
MUSCAT, OMAN - UAE Minister of Education Dr. Ahmad Belhoul Al Falasi and Oman Minister of Education Dr. Madiha bint...
- The meeting was held in Muscat and aimed at boosting the coordination and cooperation between the two friendly countries.
- The two sides also discussed the exchange of expertise in the field of curriculum development and international tests
Business
Roadmap for startups on agenda of MENA’s only IPO-focused summit
The summit, which will be held from 23-25 Jan, 2023, ""will shed light on the strong impetus and promising prospects...
- The DFM saw the listing of five government-related and private sector companies--DEWA, Tecom, Salik, Empower and Taaleem--in 2022.
- A total of AED 31 billion ($8.4 billion) were raised by these companies in the IPOs, which were subscribed multiple times over, drawing AED 672 billion.
Videos
Gulf states stare at slower GDP growth in 2023
The world, according to the latest World Bank report, may be edging toward a global recession this year. Here is...
- The world may be edging toward a global recession in 2023 and a string of financial crises in emerging market and developing economies, according to the World Bank.
- The head of the IMF, Kristalina Georgieva, also talked of a tougher 12 months ahead and expects a third of the world to experience a recession.
Arts & Culture
Show goes on at Palestinian theaters despite siege
Freedom Theatre's ability to provide Jenin residents with respite is under growing strain due to repeated raids by Israeli forces.
- Ahead of the opening night of the theatre's latest production, "Metro Gaza", the creatives woke up to find three Palestinians had been killed in an Israeli operation.
- Jerusalem's El-Hakawati has seen its audiences dwindle since Israel began constructing a barrier around the West Bank in the early 2000s.
Geostrategy
Iran executes two more men in connection with protests
PARIS, FRANCE - Iran on Saturday executed two men for killing a paramilitary force member during unprecedented protests sparked by the...
- The latest hangings double the number of executions to four over the nationwide protests.
- Two men were put to death in December, sparking global outrage and new Western sanctions against Iran.
Geostrategy
Jordan imported 3.65m barrels of Iraqi oil from September 2021 to December 2022
AMMAN, JORDAN - Jordan's total imports of Iraqi oil between September 2021 to December 2022 amounted to 3.65 million barrels,...
- The Jordanian Minister said that the Kingdom purchases Iraqi crude oil to meet part of its annual oil needs at a rate of 10,000 barrels per day.
- As per the MoU, the Kingdom provides basin tanks for transporting crude oil from the Kirkuk depot in Iraq to the Jordanian oil refinery in Zarqa.
Business
Qatar records weekly real estate deals worth $612 million
Doha, Qatar-- Real estate sales worth more than 2.25 billion Qatari Riyals ($612 million) were registered at the emirate's Real...
- The weekly bulletin issued by the Real Estate Registration Department stated that the list of real estate traded for sale included vacant lands, residences.
- Most of the deals were concentrated in the municipalities of Doha, Al Rayyan, Al Wakra, Umm Salal, Al Daayen, Al Khor, and Al Thakhira.
Geostrategy
Bayern head to Doha promising to review Qatar Airways deal
Berlin, Germany--Bayern Munich CEO Oliver Kahn said on Friday the side was reviewing whether to renew its sponsorship arrangements with Qatar...
- Bayern have come under criticism for their ties to Doha and the state-owned carrier in relation to alleged human rights issues in Qatar.
- In Qatar, the German national side backtracked on a promise to wear a 'One Love' armband in support of human rights and diversity.
Economy
World food prices hit record high in 2022, rice becoming costlier
Food prices soared to a monthly record high in March after Russia invaded agricultural powerhouse Ukraine, a major supplier of...
- FAO price index, which tracks the monthly change in international prices of a basket of food commodities, fell to 132.4 points in Dec, a 1.9 percent drop from Nov.
- But the index was 14.3 percent higher overall in 2022 compared to the previous year as it reached an all-time high of 143.7 points.
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...
Business
Company News
Latest News
Saudi Arabia’s natural reserve makes it to UNESCO heritage list
Riyadh, Saudi Arabia -- The Uruq Bani Ma'arid Reserve in Saudi Arabia has been inscribed on the UNESCO World Heritage...
Arts & Culture
GCC ministers call upon Iraq to respect Kuwait sovereignty
New York, United States -- At a meeting on the sidelines of the 78th session of the UN General Assembly,...
Geostrategy
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Business
Sharjah Chamber to host two-day Gulf-Iraq Business event
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) said it is likely to host the first Gulf-Iraq...
- The theme of the event is “Partnership for a Promising Economic Future”, and is expected to present multiple investment opportunities.
- The Chamber hopes the event starts new wave of economic, trade, and industrial relations between the GCC countries and Iraq.
Business
stc’s acquisition of Telefonica stake okayed
Spain's Securities Market Regulatory Authority cleared the deal.
- Morgan Stanley, which advises on the deal from the buyer's side, accumulated a little less than 3 percent of Telefonica’s capital during an unspecified period of time.
- Media reports said that stc announced recently it acquired a 9.9 percent stake in Telefonica for SAR 8.5 billion (2.1 billion euros).
Business
ZATCA, Korea Customs Service sign MoU to recognize AEO
Riyadh, Saudi Arabia -- Saudi Arabia's Zakat, Tax and Customs Authority (ZATCA) and Korea Customs Service have signed a memorandum...
- The move will accelerate the clearance of goods at customs points, enhance trade, and support their economies, SPA reported.
- ZATCA also showcased the “Clearance within Two Hours” initiative, which aims to unify the efforts of customs clearance authorities.