Standard & Poor’s affirms Saudi Arabia’s ‘A/A-1’ credit rating
Riyadh, Saudi Arabia – Standard & Poor's (S&P) affirmed the Kingdom's credit rating in local and foreign currency at "A/A-1"...
Economy
Dubai real estate sales hit record $13.6bn in July, growth eases
Dubai, UAE - Dubai's real estate market reached a new peak in July, with sales hitting an all-time high of...
Business
Geostrategy
Saudi Arabia, France ink MoU on energy cooperation
The MoU encourages cooperation between the two countries in the fields of electricity, renewable energy, energy efficiency, energy storage, smart...
- The MoU encourages cooperation between the two countries in the fields of electricity, renewable energy, energy efficiency, energy storage, smart grids
- It also promotes cooperation in digital transformation, localization of materials, products and services in the energy supply chain
Business
QAMCO’s profit surges by 10%
Earnings per share amounted to QR 0.165 in 2022.
- The company, which was established in December 2018, added in a statement on the Qatar Stock Exchange website that the earnings per share (EPS) amounted to QR 0.165 in 2022
- The board of directors recommended distributing cash dividends to shareholders for the year 2022 at QR0.09 per share, a nine percent of the share's nominal value
Economy
Number of visitors to Petra surges by 147 percent
Suliman Farajat, chairman of the PDTRA, stated that tourism in the red-rose city swiftly rebounded from the Covid pandemic impact...
- In January 2019, a total of 56,559 people visited Petra, while in January 2022, the lost city welcomed 30,287 visitors
- Suliman Farajat, chairman of the PDTRA, stated that tourism in the red-rose city swiftly rebounded from the Covid pandemic impact in 2022
Geostrategy
In Morocco, Spain PM reinforces ties after crisis
The visit comes less than a year after the Spanish leader drew a line under a year-long diplomatic crisis by...
- Around 20 deals were signed on Thursday to bolster Spanish investments in areas including renewable energy to education
- Both countries said they were progressing in preparations to open customs offices in Ceuta and Melilla, Spain's two North African enclaves
Business
DHA, DIEZ ink MoU to support healthcare sector
DUBAI, UAE - Dubai Health Authority (DHA) has signed a Memorandum of Understanding (MoU) with Dubai Integrated Economic Zones Authority...
- The MoU aims to enhance the private health sector’s investments in Dubai and consolidate the sector’s role in the ongoing development of health facilities.
- DHA, DIEZ will develop a special framework to pinpoint innovation standards of healthcare start-ups in Dubai.
Business
Saudi entertainment authority issues licenses for more than 24 theme parks
According to a study, GEA also authorised permits for almost 1,300 entertainment shows until the end of last year.
- According to a study, GEA also authorised permits for almost 1,300 entertainment shows until the end of last year
- The authority has provided above 630 permits in the field of art and entertainment talent management, the report added
Economy
Judicial reform plans won’t harm economy: Israel’s economy minister
High-tech workers organised their second protest against the measures on Tuesday in central Tel Aviv.
- High-tech workers organised their second protest against the measures on Tuesday in central Tel Aviv
- Leading Israeli economists have warned that the proposed reforms will do "long-term harm" to the Israeli economy
Economy
Saudi Arabia, Oman sign 13 MoUs to promote investment
The pacts were signed on the sidelines of the Saudi-Omani Investment Forum which is held in Riyadh under the theme...
- The pacts were signed on the sidelines of the Saudi-Omani Investment Forum which is held in Riyadh under the theme of "Partnership and Integration"
- The four-day forum aims to build sustainable partnerships in key sectors and contribute to enhancing mutual interests between the two sides
Economy
Saudi insurance sector adopts International Financial Reporting Standard
The features of the new Standard include standardization of the accounting measurement models for insurance and reinsurance companies around the...
- The features of the new Standard include standardization of the accounting measurement models for insurance and reinsurance companies around the world
- SAMA had committed to a seamless adoption of the IFRS 17 in Saudi Arabia, as a member of the G20, rolling out a transition plan in four phases in 2018
Economy
Jordan ranks fourth in combating corruption says anti-corruption watchdog
The index shows that Jordan scored 47 points and is ahead of 119 countries in combating corruption, including Malaysia, China,...
- The index shows that Jordan scored 47 points and is ahead of 119 countries in combating corruption, including Malaysia, China, Bahrain, Kuwait, Turkey and Egypt
- Transparency International said that the anti-corruption index showed that little progress had been made in combating corruption with an increase in violence around the world
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Standard & Poor’s affirms Saudi Arabia’s ‘A/A-1’ credit rating
Riyadh, Saudi Arabia – Standard & Poor's (S&P) affirmed the Kingdom's credit rating in local and foreign currency at "A/A-1"...
Economy
Company News
Latest News
UAE ranks first in Middle East, 4th globally as remote work destination
Dubai, UAE -- The UAE has ranked first in the Middle East and fourth globally as a leading destination for...
Economy
UAE, Turkey explore ways to enhance bilateral relations
Abu Dhabi, UAE - UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed bilateral ties with Recep Tayyip Erdogan, President...
Geostrategy
Red Sea Global, VAARST join hands for marine ecosystem mapping
TABUK, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the regenerative tourism destinations, is piloting SubSLAM, an...
Business
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Business
KIPCO sells its stake in GIG
The deal is valued at 256 million Kuwaiti Dinars ($832 million).
- The purchase price was set at KD two per share, with an adjustment of 54 fils per share to account for the cash distributions GIG made in 2022
- The sale of KIPCO's stake in GIG is seen as a testament to the company's effective strategy of acquiring, expanding, and then timely exiting companies
Economy
UAE to strengthen digital infrastructure in Azerbaijan
Abu Dhabi, UAE – The UAE and Azerbaijan have signed a Memorandum of Understanding (MoU) aimed at strengthening the digital...
- Data centers are crucial to a country’s digital infrastructure as they provide a secure space for storing critical data and running applications.
- Azerbaijan has taken steps towards advancing the digital economy, among else through the centralization of e-services and the digitization of public services
Business
ADNOC to buy stake in Fertiglobe
ADNOC to buy OCI’s entire shareholding in Fertiglobe.
- Fertiglobe is listed on the ADX and is the world’s largest seaborne exporter of urea and ammonia combined.
- It is also an early mover in sustainable ammonia, with production facilities in Egypt, Algeria and the UAE.