OPEC+ decides to keep oil production levels unchanged
Vienna, Austria--The participants of the 53rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum...
Business
Economic growth in Asia forecast to slow to 4.5 percent, says World Bank
Bangkok, Thailand--Asian economies are not doing as well as they could and growth in the region is forecast to slow...
Economy
Business
ADIB unveils new payment hub
It will help customers to seamlessly process transfers.
- The bank said customers can now seamlessly process transfers, providing a solution that transforms payment processing capabilities
- Its chief digital officer, Fernando Plaza Lopez, said the bank is focused on driving digital-first solutions throughout the bank’s operations
Dubai to host the world’s biggest ‘airport industry show’ in May
Dubai, UAE-- In the month of May scores of airport developers, officials, and suppliers from around the world will troop...
- Some 150 exhibitors from more than 20 countries and 7,500 visitors from over 30 countries will take part in the event
- The aviation market in the Middle East valued at US$60 billion in 2023 has seen a 26% growth in air connectivity in 2022
Economy
China steps up green transition drive to meet carbon-emission goals
Beijing, China--China is moving away from traditionally energy-intensive industrial sectors toward green development across key sectors, in efforts to fulfill...
- According to data, in 2023 a total of 78 steel enterprises completed the full-process ultra-low emission transformation of their production capacity
- Some 5,095 green factories have been established at national level, contributing to over 17% of the total output value of the manufacturing industry
Business
BP to pour US$1.5bn into Egypt oil exploration
It plans to hike investments in the country to US$5 billion.
- Its CEO said the company plans to maximise the benefit from the current facilitation on oil and gas exploration activities in land and sea areas
- The production plans are being stepped up to meet the growing demand of the local market and to support Egypt's endeavours to export the surplus energy
Business
BHP net profit tumbles 86%
Its sales jumped 6% to US$27.2bn in half-year results.
- The company's net profit dropped 86 percent to $927 million as it took a hammering from exceptional items
- The mining giant said last week that it was writing down its Western Australian nickel assets because of a market slide
Economy
China’s Guangdong province now boasts of 75,000 high-tech companies
Shenzen, China--The total number of high-tech enterprises in south China's Guangdong Province has exceeded 75,000, local authorities have said. By...
- The province's estimated annual research and development (R&D) expenditure topped about $64.8 billion by the end of 2023
- The region has seen its gross domestic product surpass $1.80 trillion in 2023, topping the country for 35 consecutive years
Business
Nintendo shares tumble 8.5%
Its next-generation console will be delayed until 2025.
- A news report said the next console would miss the key Christmas holiday shopping period in December
- The gadget is fading with the console now in its seventh year, but the company is tight-lipped about its plans
Economy
China maintains basic balance in international payments in 2023
Beijing, China--China maintained a basic balance in its international payments last year, with its current account surplus amounting to US$264.2...
- China's foreign-exchange regulator said the ratio of the current account surplus to gross domestic product was 1.5 percent last year
- The administration's data shows the surplus under trade in goods came in at $608bn last year, the second highest level in the history
Business
Qatar real-estate trading volume in January stands at US$521m
Doha, Qatar--The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry...
- According to a bulletin issued by the Ministry of Justice, some 362 real estate transactions were recorded during the month
- The value of Doha municipality's transactions came out at $324 million, as per the real estate market index for January 2024
Business
Aamal net profit up 5.7%
Its gross profit jumped 3.1% to US$137.25m in 2023.
- According to a company's statement. Its gross profit shot up 3.1 percent to $137.25 million.
- Its chairman said the performance of their trading and distribution segment was noteworthy
OPEC+ decides to keep oil production levels unchanged
Vienna, Austria--The participants of the 53rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum...
Business
Company News
ADX partners with Eureeca
Business
Latest News
GCC and Turkey begin free trade negotiations to boost ties
Ankara, Turkey-- The Gulf Cooperation Council and Turkey have started off free trade negotiations to deepen their ties further. In...
Economy
COP hosts UAE, Azerbaijan, Brazil pledge stronger climate action
Paris, France--Past and future hosts of the UN climate negotiations the United Arab Emirates, Azerbaijan and Brazil announced Wednesday they would...
Science
Saudi Industrial Production Index climbs up in January 2024
Riyadh, Saudi Arabia--The Saudi Industrial Production Index (IPI) recorded 103.3 points in January 2024, compared to 103 points in December...
Economy
Most Read
Geostrategy
GCC and EU hold talks to boost economic, political ties
Brussels, Belgium-- The Gulf Cooperation Council (GCC) and the European Union have held talks in Brussels in order to enhance...
- Jasem Mohamed Albudaiwi, head of the GCC, held talks with members of the EU Political and Security Committee
- The two sides exchanged views on a group of regional and international issues, including the crisis in the Gaza Strip
Business
ADX partners with Eureeca
The collaboration will bolster accessibility to ADX IPOs.
- The partnership between ADX and Eureeca capitalises on the exchange’s robust e-IPO investor portal, highlighting its commitment to simplifying the IPO process
- The tie up will take advantage of Eureeca’s international investor base, giving regional and international retail and HNWIs the opportunity to participate in ADX IPOs
Business
Bahrain and France sign MoU to boost tourism education
Lyon, France--Vatel Hotel and Tourism Business School Bahrain signed a memorandum of understanding (MoU) with EKLYA School of Business in...
- The MoU will strengthen educational ties, foster mutual understanding, and enhance bilateral relations in the realms of academia, culture, and knowledge exchange
- The curriculum for the EKLYA students will encompass a variety of subjects, including cross-cultural studies, project management, event management, and geopolitics