ADDED launches program to improve SMEs’ access to financial services
Abu Dhabi, UAE -- The Abu Dhabi Department of Economic Development (ADDED) has launched a program to improve the access...
Business
Jeddah Program named cultural destination of FIFA Club World Cup
Riyadh, Saudi Arabia -- The Historic Jeddah Program has secured sponsorship rights as the official cultural destination and main supporter...
Arts & Culture
Saudi AI authority, King Abdullah University sign MoU for research and innovation
The worldwide market for AI is expected to generate revenues to the tune of $554 billion by 2024
Insect pest eats into Lebanon’s ‘white gold’ pine nut trade
Western conifer seed bug is believed to have reached Turkey from Europe in 2010 before entering Lebanon
UAE submits draft of political declaration on corruption to UN
Law enforcement, criminalization, international cooperation, assets recovery focus of draft
UAE supports international efforts to combat corruption
The UAE in 2020 ranked 21 out of 180 countries across the world in Transparency International’s Corruption Perceptions Index, which...
UAE unveils three initiatives to mark World Environment Day
UAE’s Ministry of Climate Change and Environment has signed an MoU with idea innovator company Ideanco to collaborate in promoting...
Turkey’s central banker tries to calm market jitters
Turkish economy expanded by 7 percent between Jan and March but inflation more than triple the government's target of 5...
Berain Water of Saudi Arabia ropes in Samba for IPO
The offering could be as much as 30 percent of stake in the company Riyadh-based Berain is one of Saudi...
STV takes part in 30 percent of all Saudi start-up funding rounds
The company also took part in 20 percent startup funding in the Middle East
Expats in Saudi Arabia remit $3.54 billion in April
Expat workers make up three quarters of workers in the Kingdom, with most coming from countries such as Syria, India,...
Oil rises to $72 for the first time in 2 years as demand soars
Also boosting oil this week was a slowdown in talks between the United States and Iran over Tehran’s nuclear program,...
ADDED launches program to improve SMEs’ access to financial services
Abu Dhabi, UAE -- The Abu Dhabi Department of Economic Development (ADDED) has launched a program to improve the access...
Business
Company News
Invictus plans $272m expansion
Business
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Arada H1 sales $1.15bn
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...
Business
Generative AI likely to supplement than destroy jobs: ILO
Geneva, Switzerland -- Generative Artificial Intelligence (AI) is more likely to augment than destroy jobs by automating some tasks rather...
Business
Iran not holding direct talks with US on sidelines of UN meet
"Reports that a meeting between Iranian and American officials will be held on the sidelines of the UN General Assembly...
Business
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Business
SAB sees $26m negotiated deal
The deal does not directly impact the last deal price.
- A negotiated deal involves a stock purchase based on a bargain between buyers and sellers, apart from the market price, Argaam reported.
- Saudi Awwal Bank reported a net profit of SAR 3.314 billion ($883 million) for the first half of 2023.
Business
NDF helps in financing of US$2.2bn renewable energy project
RIYADH, SAUDI ARABIA - The National Development Fund (NDF) on Sunday said it will contribute US$453 million (SAR1.7 billion) to...
- This is one of the world’s largest renewable energy projects, developed through joint venture by Saudi Aramco, Badeel and ACWA Power.
- NDF's US$453 million financing commitment has attracted local and global banking groups in the Kingdom’s high-growth infrastructure market.
Business
Iran-European Union trade reaches $2.5 billion in first half of 2023
Tehran, Iran -- Trade between Iran and the European Union member states reached 2.3 billion euros ($2.5 billion) in the...
- Iran-EU trade exchanges declined by 10 percent compared to the last year’s corresponding period.
- Germany, Italy and the Netherlands accounted for most of the export of products to Iran from January to June 2023.