Bahrain’s central bank treasury bills oversubscribed by 226%
Manama, Bahrain--Central Bank of Bahrain (CBB) announces that the $93 million monthly issue of Government Treasury Bills has been oversubscribed...
Economy
Business
SRC, Alrajhi sign refinance deal
SRC is looking to expand its refinancing portfolio.
- SRC said that the agreement is the latest in a series of similar deals to support mortgage financiers and originators
- It will provide liquidity, capital management, and balance sheet de-risking solutions to enhance real estate financiers’ capacity
Economy
Jordan’s ‘Tashgheel’ fetches 20,000 jobs for its citizens in private sector
Amman, Jordan--A government-sponsored program in Jordan has helped place 20,000 people into private sector jobs since its launch in April...
- The government program aims to provide 60,000 job opportunities in accordance with the private sector's demand
- More than 50,000 job seekers registered for the program, 26,258 of whom were female and 26,885 of whom were male
Business
SIRC buys 60% of Masab Plastic
The PIF-owned firm looks to deepen investment in recycling.
- According to Saudi Press Agency, the deal is intended to support the company's plan to establish partnership with the private sector
- The agreement between the two groups was signed on the sidelines of the Private Sector Forum, which was held from March 14 to March 15
Economy
Saudi Arabia, Turkey sign deals during ‘Turk Expo 2023’ in Riyadh
Riyadh, Saudi Arabia--Saudi Arabia and Turkey have signed three agreements in the industrial sector during the Turkish Export Products Trade...
- The trade fair is designed to introduce the Turkish products and services to the Saudi market
- Trade exchange between Saudi Arabia and Turkey in 2022 amounted to about $5.86 billion
Business
Qatar-France trade grows to US$4.5bn, in sign of warming ties
Doha, Qatar--In a sign of growing business ties between Qatar and France, trade between the two countries has increased by...
- Qatar Chamber took part in the Arab French Economic Summit 2023 in Paris run under the theme "a partnership that must be forged in a world in crisis"
- Khalifa bin Jassim Al-Thani, Chairman of Qatar Chamber, affirmed his keenness to enhance cooperation between the Qatari and French private sectors
Business
Qatar releases blockchain ‘blueprint’ to foster climate for entrepreneurship
Doha, Qatar-- Qatar’s Communications Regulatory Authority (CRA) released the National Blockchain Blueprint prepared in partnership with Hamad Bin Khalifa University...
- The initiative is designed to build a legislative basis for blockchain, establishing a strong foundation for the government’s strategy in this sector
- The blueprint outlines critical blockchain prerequisites and offers suggestions for attaining the intended goals
Business
Tadawul market cap vaults 477% to US$2.6trn over last 5 years: CMA
Riyadh, Saudi Arabia-- The market capitalization of Tadawul, the Saudi stock exchange, has shot up 477 percent to $2.6 trillion...
- Yazid Al-Dumaiji disclosed that there are almost 80 applications under review for initial public offering (IPOs)
- He said Tadawul witnessed a rise of 388% in foreign investments to reach a historical level of US$93 billion in 2022
Geostrategy
India looks to broaden partnership with GCC countries
New Delhi, India--India has stepped up multi-faceted consultations with GCC states ahead of the Group of Twenty (G20) Summit to...
- According to India's External Affairs ministry, the two countries reviewed bilateral ties in different domains and identified new areas of cooperation
- Oman is taking part in G20 as a special invitee with India inviting nine countries under the category
Business
Emaar Properties to pay dividend
It will dole out cash dividends to the tune of US$601m.
- The company, in a disclosure to Dubai Financial market, said the proposed profits represent 25 percent of the capital, at 25 fils per share
- Its net profit almost doubled in 2022 as sales hit a record of $9.5 billion on the back of strong demand from real estate buyers
Economy
UAE consumer spending vaults 19% in 2022: Majid Al Futtaim
Dubai, UAE-- Consumer spending in the UAE has shot up 19 percent in 2022 as against the previous year, according...
- The country recorded its strongest annual GDP growth since 2006, jumping to 7.9 percent, from 3.9 percent in 2021
- Non-oil economy posted strong growth at 6.6 percent, lifted by government initiatives to lure investments and boost its tourism sector
Bahrain’s central bank treasury bills oversubscribed by 226%
Manama, Bahrain--Central Bank of Bahrain (CBB) announces that the $93 million monthly issue of Government Treasury Bills has been oversubscribed...
Economy
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ACWA Power signs deals
Business
Bahrain and EU hold discussions to ramp up ties in energy sector
Manama, Bahrain-- Bahrain and the European Union (EU) have held discussions to boost cooperation in various domains, including the energy...
Economy
Oil industry faces moment of truth as clean energy transitions advance: IEA
Paris, France--Oil and gas producers face pivotal choices about their role in the global energy system amid a worsening climate...
Economy
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Economy
Dubai to host corporate governance experts at ICGN-Hawkamah Conference
Dubai, UAE--Dubai will host a gathering of international corporate governance experts at the upcoming ICGN-Hawkamah Conference, themed 'Capital, Companies, and...
- Experts will hold discussions on topics such as national visions towards sustainable economies in the MENA region, the role of corporate boards in the governance of sustainability
- Against the backdrop of COP28, the event aims to explore how corporations can align their strategies with climate goals while fulfilling their corporate governance responsibility
Business
Bahrain’s BIBF partners with UpGradelle to boost digital transformation
Manama, UAE--The Bahrain Institute of Banking and Finance (BIBF) has partnered with UpGradelle, a leading French-based consultancy firm, to develop...
- The BIBF intends to equip the country's financial and business sectors with skilled leaders that can "catalyse the change in business operations"
- CEO of the BIBF said the collaboration will strengthen their position as a leader in delivering state-of-the-art training and development solutions
Business
Masdar and Emirates Steel Arkan partner to build green project to cut emissions
Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) has signed an agreement with Emirates Steel Arkan to develop a pioneering...
- The project, the first of its kind in the MENA region, is under construction within the facilities of Emirates Steel Arkan in Abu Dhabi's industrial city
- It will generate green iron, a highly sought-after product by international steel companies striving to achieve net-zero emission target across the world