MENA Brief | June 19: GCC central banks hold interest rates steady, Diriyah House launched in London
As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington,...
Geostrategy
PIF, Pirelli establish a JV Â
Business
Ghitha Holding Q3 profit of $33m
Business
Bank Albilad posts net profit
Business
From Iran Talks to Dubai Metro: Key Middle East Developments You Need to Know on June 10, 2025
Key developments across the Middle East today highlight regional diplomatic, economic and humanitarian trends
Economy
Economy
TotalEnergies CEO heckled by climate activists at COP27
Sharm el Sheikh, Egypt—French giant TotalEnergies' chief executive was confronted by climate activists Friday at the COP27 summit in Egypt, where...
- The company's Chief Executive Patrick Pouyanne was confronted by a number of activists, forcing him to briefly take cover in the Guinean pavilion
- Global Witness estimates that the number of lobbyists at this year's climate summit has increased by 25 percent compared to last year's gathering in Glasgow
Geostrategy
Bahrainis vote to elect members to Council of Representatives
People are choosing their candidates for the 40-member Council of Representatives, one of the two chambers of the bicameral parliament.
- People are choosing their candidates for the 40-member Council of Representatives, one of the two chambers of the bicameral parliament
- Those living abroad or visiting foreign countries had an advance polling on Tuesday in the 37 voting centers set up in diplomatic missions across the world
Business
PIF to sell Tadawul stake
It will sell 10% of its stake, amounting to 12m shares.
- According to a bourse filing, PIF, which has over $600 billion in assets, is selling 12 million shares in Tadawul Group
- The fund has hired both HSBC Saudi Arabia and Morgan Stanley Saudi Arabia to act as joint global coordinators, as well as Al Rajhi Capital to act as joint book-runner
Business
Gulf Arab’s first casino being opened at Ras Al Khaimah resort
The casino would mark a watershed moment for the Gulf region.
- The casino would mark a watershed moment for the Gulf region
- The region has traditionally imposed stricter Islamic rules than other parts of the Middle East
Economy
UAE launches National Net Zero by 2050 Pathway
The pathway, unveiled at COP27, sets the timeframe and identifies the mechanisms of implementing the UAE Net Zero by 2050...
- The pathway, unveiled at COP27, sets the timeframe and identifies the mechanisms of implementing the UAE Net Zero by 2050 Strategic Initiative, introduced in October 2021
- The UAE will adopt several measures to mitigate climate change such as increasing the share of clean energy in its energy mix and scaling up the use of clean electricity
Geostrategy
Tel Aviv-Doha World Cup flights draws criticism from Qatari activists
While Qatar's Gulf neighbours Bahrain and the United Arab Emirates established relations with Israel through agreements mediated by the United...
- The protest led by Qatar Youth Against Normalization was small but noticeable in a state where citizens very rarely speak out against authorities
- Qatar has stated that normalisation with Israel is contingent to the establishment of a Palestinian state
Economy
Companies have 50 days to achieve Emiratisation targets: Ministry
Dubai, UAE--- UAE's Ministry of Human Resources and Emiratisation (MoHRE) has said it was keen to support and empower private...
- Ministry of Human Resources and Emiratisation has said it was keen to support and empower private sector companies in the country and help them achieve their targets.
- Companies with 50 or more employees are targeted to raise their Emiratisation rate by 2 percent of their overall skilled jobs.
Business
FTX goes bankrupt in US
The Cryptocurrency platform chief executive quits.
- FTX Group announced in a statement that it filed for Chapter 11 bankruptcy proceedings.
- Chapter 11 is a US mechanism allowing a company to restructure its debts under court supervision while continuing to operate.
Business
MoIAT, Burjeel Holdings sign MoU on healthcare facilities
ABU DHABI, UAE -UAE's Ministry of Industry and Advanced Technology (MoIAT) has signed a Memorandum of Understanding (MoU) with Burjeel...
- The MoU is in line with MoIAT's keenness to provide support and specialized healthcare for its employees and their families.
- Burjeel Holdings will offer the ministry employees and their families special discounts on medical services that are not covered by insurance.
Business
ADNOC Distribution 9M net profit up 39%
The company paid a dividend of AED1.285 bn in Oct.
- The company’s dividend policy for the years thereafter sets a dividend equal to at least 75 percent of distributable profits.
- The company’s non-fuel business for the first nine months of 2022 rose by 18 percent, while non-fuel gross profit also increased by 9 percent.
MENA Brief | June 19: GCC central banks hold interest rates steady, Diriyah House launched in London
As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington,...
Geostrategy
Company News
PIF, Pirelli establish a JV Â
Business
Ghitha Holding Q3 profit of $33m
Business
Bank Albilad posts net profit
Business
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Sharjah’s ‘Mleiha’ and ‘Al Dhaid’ added to Islamic World Heritage
Sharjah, UAE - The Islamic World Heritage Committee of the Islamic World Educational, Scientific and Cultural Organization (ISESCO) added the...
Arts & Culture
Bayanat, Yahsat to merge          Â
It will benefit from revenue synergies, economies of scale.
Business
BCI’s subsidiary secures US$100m loan from SIDF
RIYADH, SAUDI ARABIA - Basic Chemical Industries Co.'s (BCI) subsidiary Chemical Marketing and Distribution Co. Ltd. secured a loan from the Saudi...
Business
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Geostrategy
NCSC seeks to regulate Jordan’s cybersecurity market
AMMAN, JORDAN - National Cyber Security Center (NCSC) seeks to regulate the Kingdom's cybersecurity market by outlining and endorsing the...
- One of the NCSC's key measures focuses on issuing Cybersecurity Services Licensing System, its director said.
- This would "effectively" contribute to strengthening and supporting Jordanian companies to enter the cybersecurity market.
Business
Hyundai Motor, Mubadala ink MoU
The two firms will seek to unlock investment opportunities.
- The agreement between the two firms will allow both parties to jointly invest and share expertize.
- Hyundai Motor and Mubadala will seek to unlock potential investment opportunities.
Business
Tabreed gets US$163m Green Revolving Credit Facility
ABU DHABI, UAE - Â Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving...
- This financing agreement, spanning five years, aligns with Tabreed's overarching sustainability strategy.
- The facility will introduce efficient cooling solutions, meeting the regional demand for sustainable innovative technologies.