SAMA, Central Bank of China sign $7bn currency swap agreement
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has signed a three-year currency swap agreement with the Central Bank...
Business
FMs from Palestinian Authority, Muslim nations to visit China
Officials will include the foreign ministers of the Palestinian Authority in the West Bank, Saudi Arabia, Jordan, Egypt and Indonesia,...
Geostrategy
Philippines wants close cooperation with UAE to achieve food security: Minister
Philippines minister Ramon Lopez said UAE investors are encouraged to explore agribusiness and agriculture in his country Filipinos constitute the...
Bee’ah, Chinook Sciences announce region’s first waste-to-hydrogen project
The project will include a green hydrogen generation plant and a hydrogen vehicle fueling station The fueling station will use...
Turkey and Greece to take steps to improve economic ties
Tensions between the two flared last year over a maritime jurisdiction in the Mediterranean
Sharjah concludes campaign to update landowners’ data
Landowners yet to update their property data can approach Real Estate Registration Department
Passengers are back on flights as Dubai International Airport is named busiest in May
The airport kicked out London Heathrow from the top spot
Creator economy lights up business world, but not enough to outshine brand sponsorships
68.1 percent of US adult influencers identified brand collaborations as generating the most income for their business
Abu Dhabi Book Fair to digitize Arabic prose in audiobooks
One of the notable works covered by the series includes the Muqaddimah of Ibn Khaldun
Omani Sultan offers jobs to pacify protests
Sultan Haitham ordered the creation of 32000 job opportunities, 12000 of them in the government sector
Netherlands drinks the most coffee in the world
The Netherlands is followed closely by Nordic countries Finland, Sweden and Norway
UN extends South Sudan arms embargo for another year
The draft resolution was adopted by 13 votes in favor on the 15-member panel. India and Kenya abstained
Most Read
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
SAMA, Central Bank of China sign $7bn currency swap agreement
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has signed a three-year currency swap agreement with the Central Bank...
Business
Company News
Latest News
Subscription opens to Alinma EMF
Business
Saudi Catering, RSG ink pacts
Business
Falconers meet in Abu Dhabi for special auction from Sept 2-8
Abu Dhabi, UAE -- Following the success of the Falcon Auction in the last edition of Abu Dhabi International Hunting...
Arts & Culture
Sharjah records real estate deals worth $517 million in July
Sharjah, UAE -- Sharjah has recorded real estate transactions worth AED1.9 billion ($517 million) during July 2023, according to the monthly...
Business
Most Read
Business
AD Ports Group Q2 net profit $84m
The Group posted 66% year-on-year revenue growth.
- Maritime, Digital, and Ports Clusters were the key growth drivers with 208 per cent, 26 per cent, and 22 per cent year-on-year, respectively.
- AD Ports Group Q2 2023 EBITDA rose by 29 per cent year-on-year to AED686 million, mainly driven by maritime, digital, and ports clusters as well as acquisitions.
Economy
Saudis, Emiratis gain wealth, but disparity remains
In 2022, 45 percent of adults in Saudi Arabia had a net worth of less than $10,000, against 43 percent...
- The net worth per adult in Saudi Arabia surged by an impressive 8.6 percent in 2021, followed by a 6.6 percent increase in 2022, both measured in US dollars.
- The Gini coefficient for wealth inequality in 2022 was 86.7 in Saudi Arabia and 86.9 in the UAE, placing both nations among the highest in global wealth inequality rankings.
Business
Riyad Capital okays 2.5% cash dividend
The SAR 0.25 per unit dividend will be paid to Riyad REIT Fund's unitholders.
- The distribution represents 2.19 percent of net asset value (NAV) as of June 30, 2023.
- Riyad REIT is a closed-ended Shariah-compliant real estate investment traded fund.