IHC shareholders approve share buyback of up to $1.36 billion
The proposed buyback represents about 0.6% of the company’s total shares. The board of directors has been authorized to take...
Business
WEF flags geoeconomic confrontation as top global risk for 2026
Experts warn economic warfare, misinformation and unchecked AI could amplify global shocks as cooperation weakens across political and trade blocs.
Geostrategy
Economy
China’s new tariffs policy to hasten industrial transformation
Beijing, China -- China's import and export tariff adjustments on some goods took effect on Monday, including implementing provisional import...
- China lowered import tariffs on resources and NEVs, aiming to enhance competitiveness and secure supplies.
- Tariffs on medicines and food for medical purposes were cut, reflecting a focus on health and consumer needs.
Economy
Qatar’s industrial sector PPI down in Nov on lower oil prices
Doha, Qatar -- Qatar's Producer Price Index (PPI) of the industrial sector in the country for November was 118.65 points,...
- Qatar's industrial PPI fell 1.95% in November, driven by oil price drops in mining and some manufacturing sectors.
- Electricity prices defied the trend, showing MoM and YoY increases, while water prices dipped MoM but rose slightly YoY.
Business
MODON launches 10 projects
The projects in 6 industrial cities are valued at $143 million.
- These projects, conducted in collaboration with several national companies, aim to foster opportunities for value chain initiatives and bolster local content.
- Among the agreements, MODON has inked a contract for establishing 80 factories and ready-made products in Al-Ahsa and Taif's industrial cities.
Business
IsDBI begins building digital marketplace for Islamic finance
Jeddah, Saudi Arabia -- The Islamic Development Bank Institute (IsDBI) has kicked off the development of the Islamic Finance Knowledge...
- The Pavilion will provide a digital marketplace of validated solution providers (institutions, consultants, and experts) in Islamic finance and economic development.
- This project aligns with the IsDBI’s objective to provide fintech knowledge solutions to the Islamic finance industry to support sustainable development in member countries.
Business
Makeen, Rolls-Royce forge partnership
They will manufacture, test, sell and service mtu engines in Saudi.
- The deal marks a milestone for the industrial development of the Kingdom’s rapidly growing marine and off-grid power generation sectors, according to the release, Aramco said.
- Makeen aims to deliver state-of-the-art solutions to meet the evolving demands of our valued customers in oil and gas, said Makeen CEO Abdullah Al-Ghamdi.
Business
Qatar’s foreign merchandise trade surplus $4.58 billion in Nov 2023
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...
- Total exports of goods amounted to around QR 26.5bn in Nov 2023, showing a decrease of 28.6 percent compared to Nov 2022, and a decrease of 8.8 percent compared to Oct 2023.
- In Nov 2023, China was at the top of the countries of destination of Qatar's exports with close to QR 5.4 billion, a share of 20.4 percent of total exports.
YEARBOOK 2023
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
- UAE launched ALTÉRRA, the world’s largest private investment climate action vehicle, aimed at raising and mobilizing an additional $250bn for climate action.
- Despite global headwinds, CBUAE projects 3.3 percent year-on-year growth projected for the UAE economy in 2024.
Geostrategy
5 WEF reports shaping your 2024 agenda
From AI to the future of jobs and slow climb to gender parity, WEF reports provide insights into some of...
- Buffeted by a global energy crisis, inflationary pressures and geopolitical instability, the move to clean energy has faced a challenging time.
- This year's top 10 emerging technologies will likely become increasingly familiar in the years ahead as they help tackle some of our biggest challenges.
Business
Saudi AZM gets independent director
Omar bin Fahd Al-Sunaidi's term will extend until Jun 2026.
- The decision was made at the firm’s Fourth Ordinary General Assembly meeting.
- The assembly concluded with the appointment of PricewaterhouseCoopers (PwC) as the auditor for the Company's 2024 fiscal year.
Business
QatarEnergy, Shell sign agreement
QatarEnergy will supply 18m barrels of crude oil per year to Shell.
- QatarEnergy and Shell have a long-standing strategic partnership through several shared investments in the energy industry in Qatar and globally.
- "We look forward to building on our historic relationship and hope we achieve greater success with Shell," said Saad bin Sherida Al Kaabi, CEO QatarEnergy
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IHC shareholders approve share buyback of up to $1.36 billion
The proposed buyback represents about 0.6% of the company’s total shares. The board of directors has been authorized to take...
Business
Company News
Latest News
US-funded Arabic network ends broadcasts after Trump cuts
The network went on air in 2004, when US officials were complaining about coverage of the Iraq war from Qatar-backed...
Geostrategy
‘Diriyah Tan’ unveiled to celebrate Saudi tourism hub’s rich heritage
Riyadh, Saudi Arabia -- Diriyah Company has collaborated with Pantone to produce "Diriyah Tan," a color that embodies the essence...
Most Read
Economy
Iraq signs deal with US firm to produce 24,000 MW of electricity
Prime Minister Mohammed Shia al-Sudani oversaw "the signing of a Memorandum of Understanding as part of a strategic cooperation framework...
- The signing comes at the conclusion of a visit to Iraq by a high-level US delegation comprising of representatives from 60 private firms.
- Despite sitting on large reserves of petrol and natural gas, decades of conflict and instability have ravaged Iraq's energy infrastructure.
Arts & Culture
Qatar’s ‘Hit Show’ wins $12 million Dubai World Cup
Dubai, UAE -- Qatar's 'Hit Show' triumphed in the 2025 Dubai World Cup's main event at Meydan, the pinnacle of...
- Hit Show, owned by Wathnan Racing, ridden by Florent Geroux, prevailed over eight top competitors in 2:03:50 minutes, earning $6.96m with a 0.64-length victory.
- The American horse Mixto, owned by Calumet Farm, came in second place, ridden by jockey Frankie Dettori and trained by Doug O'Neill, and received a cash prize of $2.4m.
Geostrategy
Russia to hold talks with US in Riyadh Monday: Kremlin
Donald Trump spoke to both Russia's Vladimir Putin and Ukraine's Volodymyr Zelensky this week and the US is also due...
- "From the Russian side, they will be attended by Grigory Karasin, chairman of the Senate's committee on international affairs, and Sergei Beseda, advisor to the head of FSB.
- Ushakov said he had confirmed this after talks with US National Security Advisor Mike Waltz. Both agreed to send "expert groups" for the talks, he added.