GCC and Sweden look to ramp up cooperation in ‘several areas’
Munich, Germany-- The Gulf Cooperation Council (GCC) and Sweden have discussed ways to ramp up cooperation in several areas, besides...
Geostrategy
Business
MEEZA to offer 50% of its shares
It will be Qatar's first firm to use book building for IPO.
- Offering shares to qualified investors through the book-building process will commence on 15 January 2023 and will end on 26 January 2023
- MEEZA said that the price range of the company's shares has been set between 2.61 QR and 2.81 QR and is composed of a nominal value of one (1) QR per share
Economy
Qatar Credit Bureau hands out more than 33,000 reports in 2022
Doha, Qatar--The Qatar Credit Bureau has disclosed that more than 33,000 credit reports were issued and more than 1,400 complaints...
- The number of new subscribers to the text messaging service reached 11,000 new subscribers
- The center pointed out that the electronic services portal provides direct access to all the center's services around the clock
Economy
Qatar’s foreign reserves post 9.6% rise in December to US$59.31bn
Doha, Qatar--Qatar Central Bank's (QCB) international reserves and foreign currencies liquidity increased last December by 9.6 percent on an annual...
- The figures issued by QBC showed an increase in the bank's official international reserves standing at $44.31 billion by the end of last December
- QCB's official international reserves recorded a growth of 3.6 percent, compared to that of November 2022, which at that time amounted to $42.77 billion
Economy
China’s foreign exchange reserves swell to US$3.127trn
Beijing, China--China's foreign exchange reserves rose to US$3.1277 trillion at the end of December 2022, up 0.33 percent from a...
- The foreign exchange regulator attributed the increase in foreign exchange reserves to the combined impact of currency translation and asset price changes
- Beijing will adopt industry, region and enterprise-specific measures to secure the sound development of key industries and boost coordinated regional development
Economy
Egypt posts 10% jump in exports to US$3.32bn
Cairo, Egypt--The Engineering Export Council (EEC) of Egypt has announced that the sector’s exports increased by 10% to $3.32bn from...
- Exports of the electrical and electronic sectors climbed by 2%, while exports of transportation equipment increased by 14%, metal forming saw an impressive gain of 96%
- Egypt’s economy was hit hard after Russia’s invasion of Ukraine last February unsettled global investors and led them to pull billions out of the North African country
Geostrategy
UAE dispatches generators in aid to power-starved Ukraine
Abu Dhabi, UAE- The UAE has dispatched a second consignment of household generators for the Ukrainian civilians affected by the...
- The UAE announced in December that it's sending 2,500 household generators to civilians affected by the ongoing crisis in Ukraine that has disrupted energy infrastructure
- The support comes within the $100 million humanitarian relief aid allocated by the UAE to the civilians affected by the crisis in Ukraine
Business
Market cap of Arab bourses hits US$4trn at end of 2022
Abu Dhabi, UAE--The market cap of Arab stock exchanges has vaulted to $4 trillion by the end of 2022, according...
- The AMF said the market value of the Saudi Stock Exchange was $2.63 trillion and that of the Qatar Stock Exchange was $167.09 billion
- The market cap of the Boursa Kuwait was $152.7 billion and that of the Muscat Stock Exchange was $61.6 billion
Business
NBF introduces ‘CVVkey’
It will shield customers from fraud and online threats.
- CVVkey will be a key element in NBF's efforts to improve cybersecurity across its operations and protect its customers from fraud and other online threats
- Every few hours, the CVVkey app provides a unique 3-digit dynamic security code for each card enrolled in the service
Economy
Businesses in Qatar post growth in December due to World Cup
Doha, Qatar-- Business activity in Qatar has accelerated in December as the FIFA World Cup went on through the month....
- Wholesale, retail, and service providers in particular registered rapid expansions in activity
- The Qatar Financial Centre PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 450 private sector companies
Geostrategy
UAE President and Jordan’s King discuss ties in Abu Dhabi
The UAE President Sheikh Mohamed bin Zayed has met with Jordan's King Abdullah II in Abu Dhabi and discussed "fraternal...
- Ayman Al Safadi, Deputy Prime Minister and Minister of Foreign Affairs and Expatriates of the Hashemite Kingdom of Jordan was also present
- Upon his arrival, the king was welcomed by the president and a number of Sheikhs
GCC and Sweden look to ramp up cooperation in ‘several areas’
Munich, Germany-- The Gulf Cooperation Council (GCC) and Sweden have discussed ways to ramp up cooperation in several areas, besides...
Geostrategy
Company News
Vitronic signs contracts in MENA
Business
DP World spends US$6bn
Business
Latest News
COP28 huge moment for world and UAE: UK Economic Secretary to Treasury
Dubai, UAE-- Describing the COP28 as a huge moment for the world and the UAE, Andrew Griffith, Economic Secretary to...
Business
UAE and China urge UN Security Council meeting on Gaza
Dubai, UAE-- The United Arab Emirates (UAE) and China have called for a closed-door meeting of the UN Security Council...
Geostrategy
Most Read
Business
Sharjah looks to boost economic, investment ties with Uganda and Kenya
Sharjah, UAE-- The emirate of Sharjah is seeking to boost economic and investment cooperation with Uganda and Kenya. In this...
- In order to boost trade with Uganda and Kenya, the Sharjah Chamber of Commerce and Industry (SCCI) will dispatch a trade mission to the African countries
- The trade mission will explore ways to enhance development and foster stronger ties as part of the chamber's commitment to supporting the local business community
Business
Global assets in spot bitcoin ETFs hit US$4.16 billion
Dubai, UAE--Global assets invested in exchange-traded funds (ETFs) tied to the spot price of bitcoin now total US$4.16 billion, showed...
- Around half of that sum, or $2 billion, is invested in the seven spot bitcoin ETFs that have been launched in Canada since 2021
- Regulators in the United States are currently considering as many as 10 applications to launch similar spot-based ETFs in the U.S
Geostrategy
Public defies world leaders, rallies to back Palestinians
Global outcry mounts as thousands protest in the US, UK, France, and Germany, defying their governments' support for Israeli aggression...
- Condemning US President Joe Biden for his support of Israel, thousands of protesters in the US capital Washington called for a ceasefire in Gaza
- Thousands marched in solidarity with Palestinians in Paris, where slogans were heard calling for a boycott of Israel along with shouts of "Israel terrorist state"