43% people in Saudi likely to make more cross-border payments in 2023
Riyadh, Saudi Arabia -- Nearly 43 percent of people in Saudi Arabia expect to send cross-border payments more frequently in...
Business
UAE defense conglomerate EDGE signed nearly $2bn in deals
Dubai, UAE -- UAE defense conglomerate EDGE Group has inked deals worth at least $1.8 billion during the Dubai Airshow,...
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UN agencies concerned over looming famine in northern Ethiopia
The Food and Agriculture Organization of the United Nations (FAO), United Nations World Food Programme (WFP) and UNICEF call for...
Non-resident foreigners may finally be allowed to own property in Saudi Arabia
If the Real Estate General Authority pays heed to the Shoura Council, then non-resident foreigners may eventually get the right...
Saudi Arabia to give nod to digital banking in kingdom, service may start soon
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Goldman Sachs projects crude oil to touch $80 this summer
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Food insecurity looms in Middle East, Africa: WFP
WFP data say 41 million people faced hunger in 20201 Half a million food insecurity cases living in conditions akin...
Free online registration opened for 7th Middle East Hospitality Excellence Awards 2021
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Egypt to bank on $500 million Gaza rebuilding aid to shore up its clout
Egypt will use $500 million rebuilding aid for Gaza as a method of reestablishing its ties with countries it shunned...
Dubai’s weeklong real estate transactions valued at $2.9 billion
Dubai Land Department (DLD) records a total of 2,069 real estate and property transactions with a gross value of $2.9billion...
CEOs pledge support to world leaders for net-zero efforts
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Fund launched in Lebanon to boost women’s participation in Beirut port blast recovery
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43% people in Saudi likely to make more cross-border payments in 2023
Riyadh, Saudi Arabia -- Nearly 43 percent of people in Saudi Arabia expect to send cross-border payments more frequently in...
Business
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One fourth of all investors in state securities have left Russia: Minister
Moscow, Russia -- One fourth of all investors in state securities have been forced to leave the Russian market due...
Business
GCC top export market for Dubai Chamber of Commerce members
Dubai, UAE -- The Gulf Cooperation Council countries were the top destinations for exports and re-exports of Dubai Chamber of...
Business
Ajman H1 real estate transactions increase by 15 percent to $1.95bn
Ajman, UAE -- Ajman real estate market grew 15.6 percent year-on-year to AED 7.17 billion ($1.95 billion) in the first...
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Business
DGCX waives fees for Shari’ah compliant Spot Gold Contract
Dubai, UAE -- The Dubai Gold & Commodities Exchange (DGCX) Tuesday said it is waiving trading, clearing and delivery fees...
- DGCX will waive the fee until 31 December 2023. This fee waiver excludes the SCA fee of $0.03.
- The Exchange is also seeking approval from SCA to waive fees for its Gold Futures contract.
Business
Saudi Arabia accedes to United Nations’ CISG convention
Riyadh, Saudi Arabia -- Saudi Arabia has officially acceded to the United Nations Convention on Contracts for the International Sale...
- Saudi Arabia became the 96th State Party to the Convention. The Convention will enter into force for Saudi Arabia, except for its part III, on 1 September 2024.
- The CISG establishes a comprehensive code of legal rules governing the formation of contracts for the international sale of goods and the obligations of the buyer and seller.
Business
Bahrain Central Bank’s $185 million treasury bills oversubscribed
Manama, Bahrain – This week’s BD 70 million ($185 million) issue of Bahrain Government Treasury Bills has been oversubscribed by...
- The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain, on behalf of the Bahrain government .
- The approximate average price for the issue was 98.395 percent with the lowest accepted price being 98.261 percent.