Pre-tax net profit of Dubai Financial Market rises 74% to $53m in H1 2024
Dubai, Saudi Arabia - Dubai Financial Market (DFM) today announced its consolidated financial results for the period ended June 30,...
Economy
Saudi Arabia’s tourist spending reaches $40bn: minister
Saudi Arabia’s Minister of Tourism Ahmed Al-Khateeb highlights the upcoming launch of a tourist visa aimed at drawing more international...
Business
Business
QIB profits grow by 12.7% in 2022
The return on the share amounted to QR 1.62.
- The return on the basic share amounted to QR 1.62 for the past fiscal year, compared to QR 1.42 in 2021
- The total assets for 2022 amounted to QR 184 billion, while financing assets accounted for QR 119.3 billion
Economy
Qatar’s private sector exports surge 25% to $10bn in 2022
The total value of private sector exports during the fourth quarter of 2022 amounted to $2 billion.
- The total value of private sector exports during the fourth quarter of 2022 amounted to $2 billion
- The number of countries receiving Qatari exports in Q4-2022 reached 95 in the year
Economy
DFSA releases 2023-24 plan to support Dubai’s growth as financial hub
DUBAI, UAE - The Chairman of the Dubai Financial Services Authority (DFSA), Fadel Al Ali Monday announced the publication of...
- The two-year plan outlines an ambitious roadmap to meet the DFSA’s statutory objectives for the Dubai International Financial Center.
- The DFSA will be pursuing several key projects that cut across multiple strategic themes.
Economy
RAKTDA simplifies procedure for getting permits for Rak Holiday Homes system
RAS AL KHAIMAH, UAE- Ras Al Khaimah Tourism Development Authority (RAKTDA) has announced updates to its holiday homes system. RAKTDA...
- The updates are part of the Emirate’s efforts to continue diversifying and strengthening its existing accommodation portfolio of four- and five-star hotels and resorts.
- These measures will help in driving a sustained tourism economy that benefits not only investors but also its communities.
Economy
Oil prices fall, but hovers near 2023 highs
Brent fell 36 cents, or 0.4 percent, to $84.92 a barrel, while US West Texas Intermediate crude fell 21 cents,...
- Brent fell 36 cents, or 0.4 percent, to $84.92 a barrel, while US West Texas Intermediate crude fell 21 cents, or 0.3 percent
- Last week, oil prices booked their largest weekly increase since October 2022, bouncing back from a significant crash at the start of the year
Business
Infracorp, Equitix partner join hands
Collaboration to boost Infracorp’s Infrastructure footprint.
- Aurora serves a blue chip international industrial client base which has invested more than €4.5 billion combined in the Company’s two sites (AKO and ATO) since 2005
- Equitix has over $11.7 billion of assets under management and is the infrastructure investment division of Tetragon, the global asset management group
Business
Mawani, MARASI ink pact to establish Seafarers Club in Saudi ports
Mawani has been working to strengthen the position of Saudi ports as a part of the Kingdom’s National Transport and...
- Mawani has been working to strengthen the position of Saudi ports as a part of the Kingdom’s National Transport and Logistics Strategy
- The Seafarers Club will have various amenities including a hotel, call centers, cafes, entertainment halls, multiple restaurants, a food commodity store
Science
WEF’s Open Forum from Jan 16-20 to focus on global environment
DAVOS-KLOSTERS, SWITZERLAND – As part of the World Economic Forum Annual Meeting 2023, this year’s Open Forum Davos from January...
- Leaders from all walks of life will explore opportunities and solutions for the many environmental crises that the world is facing.
- The meet will discuss the lessons the world has learned, and the biggest challenges the people face in the fight to stabilize the climate.
Geostrategy
Baghdad-Amman oil pipeline will soon be functional, says Iraqi Parliamentary Speaker
BAGHDAD, IRAQ - Iraqi Parliamentary Speaker Mohammed al-Halbousi said that an oil pipeline from Basra port to the Jordanian port...
- Iraq and Jordan will form joint parliamentary committees to overcome legislative impediments to projects.
- The Jordanian delegation held a series of meetings with Iraqi officials.
Geostrategy
UAE energy minister, Romanian counterpart discuss cooperation
ABU DHABI, UAE - UAE Minister of Energy and Infrastructure and Romanian Minister of Energy discussed ways to enhance cooperation...
- The UAE and Romanian ministers discussed importance of international cooperation to address climate change.
- The ministers discussed ways and means to develop cooperation between the two countries
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Pre-tax net profit of Dubai Financial Market rises 74% to $53m in H1 2024
Dubai, Saudi Arabia - Dubai Financial Market (DFM) today announced its consolidated financial results for the period ended June 30,...
Economy
Company News
Latest News
Iran foreign minister, Hamas chief discuss Gaza developments
Tehran, Iran - Iranian Foreign Minister Hossein Amir-Abdollahian held a phone conversation with Hamas chief Ismail Haniyeh on Friday night...
Geostrategy
Nasdaq faces $4m penalty for alleged Iran sanctions violations
New York, United States - Nasdaq Inc., headquartered in New York, has agreed to pay a $4 million settlement to...
Business
Iran, Oman call for using national currencies in mutual trade
Tehran, Iran – Iran and Oman have signed two memoranda of understanding to boost bilateral cooperation and using their national...
Economy
Most Read
2 crew members killed as Saudi fighter jet crashes
An investigation into the cause of the recent accident has been initiated, with Maliki informing the Saudi Press Agency (SPA)...
- The incident occurred at King Abdulaziz Air Base in Dhahran, where the aircraft, belonging to the kingdom's fleet of F-15SAs, was engaged in its training maneuvers
- The event follows a similar occurrence five months prior when another F-15SA crashed in the training area of an air base in Khamis Mushait city, resulting in the loss of two lives
Business
Dubai Municipality, DEWA ink pact to generate electricity from landfill biogas
DUBAI, UAE - Dubai Municipality and Dubai Electricity and Water Authority (DEWA) have signed an agreement on the sides of...
- The signing supports Dubai’s leading sustainability practices and the realition of the UAE Net Zero Strategy 2050.
- Dubai Municipality is building align with its aspiration to build a more sustainable, pioneering and liveable city.
Business
99 percent of world live in areas with air pollution levels above WHO guideline limits
DUBAI, UAE - According to World Health Organization data, 99 percent of the world’s population lives in places where air...
- Leading businesses recognize that they have an important role in reducing air pollution alongside greenhouse gas emissions.
- Business activity contributes significantly to air pollution globally but air pollution is not prioritized nor integrated into climate action.