Bank of Sharjah joint lead manager for $350m Ittihad sukuk
SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million...
Business
ADB plans to invest US$100bn to maximize climate impact
MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB)...
Economy
Digital banks in Saudi Arabia to reduce costs and stimulate competition: SAMA
Saudi Cabinet Okayed issuing licenses for country's first digital banks Digital banks concept broader than financial technology companies Digital banks...
Suspected cases of corporate collusion in Saudi Arabia surge in 2021
The value of the project under investigation $267 million From 15 in 2019, cases rose to 86 in 2021 Cases...
Oman launches investment residency scheme for foreigners
The residency period is for a renewable period of five or 10 years Low oil demand and pandemic have hit...
More blackouts ahead as Lebanon generators starved of fuel
National run power network is prone to blackouts Officials blame the shortages on stockpiling, smuggling The owners of private generators...
Israelis taste the future with lab-grown chicken ‘food revolution’
Scientists claim lab-grown meat environmentally friendly way to feed the people The process involves cultivating cells taken from a fertilized...
Jeddah Economic City: 90% of road, landscaping work done
The megaproject includes the world's tallest tower The city will have 210 towers that will be over 30 floors high...
Egypt-UK trade up 8 percent to $722m in Q1 2021
Britain third-largest investing country in Egypt after UAE, Saudi Arabia Egyptian food exports to UK surged by 76 percent despite...
Egypt arrests former MP for smuggling antiquities
Copper coins from Greek and Roman periods among artifacts recovered The accused was a member of Hosni Mubarak's now-dissolved party...
Egypt signs non-disclosure deal over canal blockage compensation
*Egypt slashed its initial claim for $900m to $550m *Final deal expected by the middle of next week Egypt has...
Bitcoin fund launches on Dubai bourse in Mideast first
Canadian digital asset manager 3iQ Corp seeks to raise around $200m in the offering Bitcoin price slumped recently due to...
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Bank of Sharjah joint lead manager for $350m Ittihad sukuk
SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million...
Business
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Bank Albilad H1 profit up 14%
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Qatar’s trade balance surplus increases by 12.8 percent in July
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...
Business
GCC optimistic about FDI growth despite hiccups
Despite a decline in FDI inflows in the past few years, GCC countries remain optimistic as they expect strong economic...
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Renewables helped save $520bn fuel costs globally in 2022: Report
In non-OECD countries, just the saving over the lifetime of new capacity additions in 2022 will reduce costs by up...
Geostrategy
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Business
AviLease acquires aircraft leasing platform
The $3.6bn deal will see AviLease acquire a portfolio of 100 aircraft.
- The combined platform will own and manage 167 of the latest technology, fuel efficient aircraft, consisting of 145 owned valued at around $6 billion.
- AviLease arranged $2.1 billion of competitive bridge financing commitments from four banks: BNP Paribas, Citibank N.A., HSBC Bank Middle East and MUFG Bank.
Geostrategy
Saudi Arabia and Iran invited to Moscow-led defense bloc’s military drills
Moscow, Russia -- Collective Security Treaty Organization (CSTO) member states have invited observers from Saudi Arabia, Iran, China and Mongolia...
- China and Mongolia are the other two countries invited to monitor the Combat Brotherhood-2023 drills in Belarus, CSTO Joint Staff Chief Colonel General Anatoly Sidorov said.
- Combat Brotherhood, a joint operational and strategic exercise, will be held in Belarus on September 1-6.
Business
SAMI launches radio systems line
PIF-owned SAMI will be partnering with the Ministry of Defense.
- SAMI CEO Waleed Abdulmajeed Abu Khalid underlined the partnership in strengthening relationships with L3Harris, the world's leading defense company.
- In June, SAMI signed an agreement with Safran Helicopter Engines for engine maintenance and repair.