How cyber criminals steal cryptocurrency
Hackers from North Korea have become notorious for their sophisticated and relentless tradecraft, according to Chainalysis. Nearly 60 percent of...
Business
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...
Economy
Business
PIF-backed oil driller ADES International Holding announces IPO
Riyadh, Saudi Arabia -- ADES International Holding, an oil and gas driller backed by Saudi Arabia’s sovereign wealth fund, PIF,...
- The offer will comprise 338.7m shares-- 101.62m by ADES Investment Holding, PIF and Zamil Investment, and 237.10m new shares.
- The price range will be announced September 18 and the final offer price will be announced after a book-building process.
Geostrategy
BRICS to coordinate approaches with new members within UN, G20: Lavrov
The BRICS summit, which held in Johannesburg from Aug 22-24 agreed to admit Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and...
- Lavrov said BRICS leaders deal with real issues while Western politicians and reporters "tend to mostly wag their tongues".
- The expanded BRICS’ positions in the Group of Twenty will strengthen because both Saudi Arabia and Argentina are its members, he said.
Geostrategy
Iran readies to finalize document on wider cooperation with Oman
Tehran, Iran -- Iran has expressed its readiness to finalize the provisions of a strategic document on comprehensive cooperation with...
- Iran's foreign minister Amir Abdollahian also appreciated the efforts by the Sultan of Oman and talked about Iran’s stances on the trend of talks aimed at lifting the sanctions.
- Abdollahian appreciated Qatar for its role in the release of Iranian assets blocked in foreign countries.
Business
Iran world’s eighth largest steel producer in first half of 2023
Tehran, Iran -- Iran became the eighth largest steel supplier in the world in the first half of 2023 as...
- Iran was the world’s seventh largest steel producer in June with an output of 3.2 million mt, up 17.4 percent from June 2022, the report added.
- For years, Iran had been ranked 10th globally in the list of top steel-producing countries.
Business
Market capital in Arab bourses $4.5 trillion, says Arab Monetary Fund
Kuwait City, Kuwait -- The Arab Monetary Fund has said that the market capital in Arab bourses reached US$4.5 trillion...
- The fund's weekly report said the market capital of BouKuwait amounted to US$137.5 billion, that of the Abu Dhabi stock exchange reached approximately US$777 billion.
- The capital market of the Saudi stock exchange reached some US$ 3 trillion and the Qatari bourse US$170 billion.
Business
Gazprom delivers 41.5m cu.m of gas to Europe per day through Ukraine
Moscow, Russia -- The volume of Russian gas supplies to Europe through Ukraine is 41.5 million cubic meters per day,...
- The gas is supplied via Sudzha gas pumping station in an amount approved by Ukraine, a Gazprom spokesman said.
- The transit line through Ukraine remains the only route for Russian gas supplies to western and central European countries.
Business
Dubai records realty deals worth $6.28 bn during week ending 25 Aug
Dubai, UAE -- A total of 3,229 real estate transactions worth over AED 23.1 billion ($6.28 billion) were conducted during...
- The DLD report showed that 183 plots were sold for AED 1.33 billion, while 2,361 apartments and villas were purchased for AED 5.77 billion.
- The top three apartment and villa transfers included three in Palm Jumeirah sold for AED 65 million, AED 57 million, and AED 54 million.
Economy
Lebanon central bank declines to address nation’s deficit through lending
Beirut, Lebanon -- Acting Lebanese Central Bank Governor Wassim Mansouri has said the bank will not be providing government lending...
- Acting Lebanese Central Bank Governor Wassim Mansouri said it will apply to both Lebanese lira and US dollar.
- Mansouri assured that public sector employees would receive their wages for the current month in US dollars, with an exchange rate set at 85,500 liras.
Business
Mawani and Rotterdam Port partner to develop smart ports
Jeddah, Saudi Arabia-- The Saudi Ports Authority (Mawani) has reached a partnership deal with Port of Rotterdam to collaborate in...
- The deal will enhance cooperation between both entities in port corporatization, a widely-adopted business model based on outsourcing terminal operations to the private sector.
- Mawani had earlier inked a deal with Port of Antwerp International (PAI) to bolster mutual cooperation in the domains of port optimization and digital transformation.
Business
Saudi industry ministry and German firms to develop human resources
Berlin, Germany -- A delegation of Saudi Ministry of Industry and Mineral Resources, which visited Germany, discussed enhancing cooperation to...
- The delegation met with officials of the German automobile manufacturer Porsche at the company’s headquarters.
- The delegation discussed cooperation opportunities as well as initiatives and programs for developing human capacities with the German companies Schüller, Festo and KSB.
How cyber criminals steal cryptocurrency
Hackers from North Korea have become notorious for their sophisticated and relentless tradecraft, according to Chainalysis. Nearly 60 percent of...
Business
Company News
ADNOC Gas net income $3.37bn
Business
Latest News
Abha Valley has potential to be a tourist destination
ABHA, SAUDI ARABIA - Extending over 34 kilometers, the Abha Valley Basin enjoys a variety of wildlife aspects, civilizational features...
Business
Egypt jumps to third place in Offshore BPO Confidence Index
Cairo, Egypt -- Egypt's global prominence received a boost as it jumped from 11th to third place in the 2023...
Business
Saudi PIF secures $5 billion financing in collaboration with K-SURE
Riyadh, Saudi Arabia -- The Public Investment Fund (PIF) and Korea Trade Insurance Corporation (K-SURE) have announced the signing of...
Business
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Business
Beltone 9M net profit at $2.7m
In 9M, the firm's restructuring led to a turnaround.
- Operating revenue in 9M 2023 increased to US$30 million, a growth of 271 percent Year-on-Year.
- The NBFIs operating revenue recorded US$15 million in 9M2023, a growth of 680 percent YoY.
Arts & Culture
Villa, Maldini visit Jeddah to promote FIFA Club World Cup 2023
Jeddah, Saudi Arabia -- Football stars David Villa and Paolo Maldini visited Jeddah today to promote the 2023 FIFA Club...
- The two stars met with football fans at the FIFA Club World Cup Saudi Arabia official pre-tournament roadshow on Jeddah Corniche.
- The roadshow aims to boost fan engagement leading up to the tournament through an array of fun activities.
Business
Chinese tourism bookings to Saudi surge 277% after mega promotional campaign
Shanghai, China -- In a bid to attract Chinese tourists, the Saudi Tourism Authority recently concluded its first, and the...
- Saudi Market Festival, a celebration of heritage, culture and nature, held at the iconic Bund Waterfront in Shanghai drew a crowd of over 80,000.
- The impact of the campaign has been substantial, with over 500 million Chinese reached, the Saudi Press Agency reported.