QatarEnergy, Shell sign agreement
QatarEnergy will supply 18m barrels of crude oil per year to Shell.
Business
SAMA seeks public feedback on financial governance amendments
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has invited interested parties and specialists concerned with “Key Principles of...
Business
Geostrategy
Hungarian companies want to expand work in Russia, says PM Orban
BUDAPEST, HUNGARY – Hungarian Prime Minister Viktor Orban said that companies from his country plan to expand their activities in...
- Hungarian Prime Minister Viktor Orban made the statement at a meeting with the head of Russia’s Tatarstan region Rustam Minnikhanov in Budapest.
- The head of Tatarstan came to Budapest at the invitation of Orban in connection with the Hungarian national holiday, St. Stephen's Day.
Geostrategy
EU well-prepared for winter as gas reserves hit 90% ahead of target
The speedy filling of storage facilities means the bloc is "in a much more stable position than it was this...
- The crisis sparked by Russia's war led to the European Union adopting a law requiring the 90-percent gas storage by November 1 each year.
- Before Moscow launched its invasion in February 2022, Russia accounted for nearly half of the EU's natural gas imports.
Business
Dubai records $2.83bn billion in weekly real estate transactions
Dubai, UAE -- Real estate transactions valued at more than AED 10.4 billion ($2.83 billion) were recorded in Dubai during...
- Of the total 3,571 transactions,120 plots were that sold for AED1.2 billion and 2,782 apartments and villas were that went for AED6.86 billion.
- A total of 109 properties were granted between first-degree relatives worth AED438 million.
Geostrategy
Iran first Islamic country to have modern observatory, says official
TEHRAN, IRAN – Iran is the first Islamic country to possess a very modern observatory, the head of the Institute...
- The head of the Institute for Research in Fundamental Sciences said that Iran lacked the resources to build an observatory.
- He added that an observatory is like a living entity, and continuous work and progress are necessary for proper functioning.
Business
India cricket board earns nearly $300 million from 2022 IPL
New Delhi, India -- India's cricket board banked nearly $300 million from last year's iteration of its Indian Premier League,...
- The Board of Control for Cricket in India (BCCI) is one of the richest governing bodies in global sport, owing largely to the runaway success of the flagship Twenty20 tournament.
- The IPL has made millionaires of its top players and generated billions from media rights since its inception in 2008.
Geostrategy
Turkish officials discuss scenarios around stalled Russia grain deal
Turkey’s top diplomat Hakan Fidan is planning to discuss the results of these discussions with Russian Foreign Minister Sergey Lavrov...
- Under another scenario, unilateral actions will be taken to set up alternative routes based on bilateral agreements, particularly for Ukrainian agricultural supplies via the Danube
- The third, an only 'viable option', envisages a revival of the grain deal "as soon as certain Russian concerns are removed".
Business
Etihad Cargo flight lands in Hubei
Hubei's Ezhou Huahu Airport is world's fourth professional cargo airport.
- Etihad Cargo's Boeing 777-200 freighter arrived in Ezhou on Friday, making the carrier the first international airline to operate flights to the airport.
- Equipped with a 23,000sqm cargo terminal and a 700,000sqm freight transit center, the airport serves as a gateway for air trade between China and the rest of the world.
Business
Dubai real estate market records deals worth $653 million
Dubai, UAE -- Dubai's real estate market recorded deals worth AED 2.4 billion ($653 million) on Thursday, according to Dubai...
- The deals included 591 sales transactions worth AED1.76 billion on Thursday, in addition to 125 mortgage deals totaling AED613.72 million.
- The sales included 561 villas and apartments worth AED1.42 billion, and 30 land plots worth AED336.26 million.
Arts & Culture
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...
- The previous edition witnessed the purchase of the most expensive falcon in ADIHEX’s history, as the American falcon (Pure Gear - Ultra White) was sold for more $250,000.
- The 2023 auction will witness new features, including the falcon daily raffle draws offered by Umm Jeniba Farm to the auction’s audience and raffle draws to the participants.
Business
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...
- The department executed a total of 2,783 transactions, including 684 sales transactions across 96 areas in various regions of the emirate.
- The number of mortgage transactions were 447, constituting 16.1 percent of the total number of transactions with a value of AED420.1 million.
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QatarEnergy, Shell sign agreement
QatarEnergy will supply 18m barrels of crude oil per year to Shell.
Business
Company News
MIS net profit $7.1m in 9M 2023
Business
Dana Gas 9M net profit $126m
Business
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Amlak Q3 net profit AED $73m
Business
Rabigh 9M net loss $879m
Business
IHC 9M net profit $4.13bn
Business
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 owns 40% of aircraft fleet in Arab region, says ACAO official
Dubai, UAE -- The United Arab Emirates (UAE) holds nearly 40 percent of the aircraft fleet in the Arab region,...
Business
Gaza health situation a ‘perfect storm for tragedy’: UN
Around 160 children are killed every day in Gaza and UNICEF has warned that the number could skyrocket. More than...
Business
Most Read
Business
MBC Group IPO plea okayed
The conglomerate intends to sell 33.25 million shares.
- The number of shares represent 10 percent of the capital of the Saudi media conglomerate.
- The company's prospectus will be published ahead of the planned share sale, the market regulator said in a statement.
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,...
- A $1.1 billion deal with UAE Ministry of Defense for aircraft munitions was the biggest of the deals.
- The EDGE Group is only four years old, but now consists of more than 25 subsidiaries.
Business
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...
- he agreement is part of the financial cooperation between the two central banks, which works to strengthen collaborations based on mutual interests.
- Currency swaps are agreements between two parties to exchange a certain amount of one currency for another and then reverse the exchange at a later date.