14 financial giants confirm expansion into Abu Dhabi: ADGM
Abu Dhabi, UAE -- Abu Dhabi Global Market (ADGM), a leading international financial center of the UAE’s capital, Thursday announced...
Business
Egypt jumps to third place in Offshore BPO Confidence Index
Cairo, Egypt -- Egypt's global prominence received a boost as it jumped from 11th to third place in the 2023...
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Saudi Arabia plans new national airline
New carrier would push SA into the 5th rank globally in terms of air transit traffic The move is part...
Palestinian Authority silencing dissent: Activist
Rights activist Nizar Banat's death sparked days of protests in the West Bank In 2018, HRW charged that the PA...
Lebanon raises fuel prices to shore up forex reserves
Price 20 litres of 95-octane petrol shot up from $10.6 to $40.6 Lebanese officials blame smuggling to Syria, stockpiling for...
Lapid opens Israeli embassy in UAE, first in Gulf
Lapid's trip comes after the nations moved to normalise ties Israel, UAE have signed a raft of deals ranging from...
China’s 70-year effort makes it malaria-free
China becomes the 40th territory certified malaria-free by WHO For four consecutive years, no case was reported GENEVA: China was...
Amazon targets net-zero carbon in new Mena projects
Amazon's Climate Pledge aims to achieve net-zero across its businesses by 2040 The projects are expected to come up Saudi...
Raayi: Online customer reviews can make or break a business
 Make customer ratings part of company's revenue-generation strategy  A negative review could cost a firm as many as 30 customers...
US Secretary of State says Guantanamo prison should close
US Secretary of State says he doesn’t know when it can happen Former president Obama had failed in his bid...
Turkey launches $15b project to ease Bosphorus Strait traffic
The project expected to be on the outskirts Istanbul's European side 43,000 ships pass through the strait every year Turkish...
Mosul bombing victims battle ‘opaque compensation system’
The coalition admits more than 1,000 civilians killed in seven years HRW: The compensation system is opaque even for those...
14 financial giants confirm expansion into Abu Dhabi: ADGM
Abu Dhabi, UAE -- Abu Dhabi Global Market (ADGM), a leading international financial center of the UAE’s capital, Thursday announced...
Business
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QGIRC net profit down
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ESG H1 net profit $162m
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SAB H1 profit up 59%
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Saudi first quarter travel balance of payments surplus $6 billion
Riyadh, Saudi Arabia -- Saudi Arabia achieved a surplus of SAR 22.8 billion ($6.07 billion) in the balance of payments...
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SABIC-Sinopec China plant opens
The plant is located in their jointly owned petrochemical firm.
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Saudi Arabia’s consumer spending hits $27bn in July: Central Bank
Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia increased 2 percent to SAR 104.6 billion ($27.88 billion) in July 2023, from...
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Global construction industry projected to reach $12.9 trillion by 2028
Dubai, UAE -- The global construction industry is projected to reach a staggering $12.9 trillion by 2028, with a robust...
- The study says residential construction will continue to dominate, driven by rising per capita income and disposable income.
- The Asia Pacific region is poised to retain its leadership position, attributed to increasing urbanization and robust infrastructural development.
Business
ADGM’s Registration Authority fines KPMG Lower Gulf $30,000
Abu Dhabi, UAE -- The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has fined ADGM-registered audit firm, KPMG...
- ADGM audit regulatory framework requires audit reports to be issued and signed by ADGM Registered Audit Principals on behalf of an ADGM Registered Auditor.
- Prior to imposing the penalty, the RA had engaged in ongoing communication with KPMG over a period of several months, ADGM said.
Business
Viacom18 nets Indian cricket broadcast rights for $721 million
Media rights are a huge earner for the Board of Control for Cricket in India (BCCI), one of the richest...
- The agreement priced the average match nearly 13 percent higher than the $944 million rights deal for 2018-23 signed by Star, Disney's local subsidiary.
- Star had held the rights to broadcast international matches since 2012 and was also a bidder in Thursday's auction, along with Sony Sports.