Search Site

Trends banner

Aramco, unit and Sinopec ink $4bn deal

The two companies will establish a joint venture company.

Etihad unveils new A321LR aircraft

A321LR features First Suite - a private, enclosed space with a sliding door.

stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Qatar’s Industrial Production Index up 3.9% in Dec 2023

Doha, Qatar -- Qatar's Industrial Production index (IPI) in December 2023 reached 95.3 points, an increase of 3.9 percent compared...
  • IPI reflects the growth of details of the growth of the various industrial economic sectors, with different relative weights, such mining and quarrying (82.46 percent).
  • The index of mining sector showed an increase by 5 percent compared to the previous month, due to increase in the quantities of crude oil petroleum and natural gas.

Oil may rise to $100, gold to hit $3,000 by 2025, says Citi

ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...
  • Analysts say gold is currently trading at $2,016 and could surge by about 50 percent if central banks dramatically increase purchases.
  • Another factor that could drive gold prices is the global economy's deep recession, which could prompt the Federal Reserve to cut rates rapidly.

Saudi National Bank launches US dollar-denominated sukuk

RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle.The sukuk are offered to qualified investors...
  • The sukuk are offered to qualified investors inside and outside Saudi Arabia.
  • The amount and sukuk’s terms of offer will be subject to market conditions.

‘Israeli army tortures and rapes Palestinian girls’

The experts have expressed concern that an unknown number of Palestinian women and children, including girls, have reportedly gone missing...
  • Palestinian women and girls have reportedly been arbitrarily executed in Gaza, often together with family members, including their children, a UN press statement said
  • Experts have called for an independent, impartial, prompt, thorough, and effective investigation into the allegations and for Israel to cooperate with such investigations.

stc 2023 revenues is $19.28bn

Gross profit for 2023 rose 1.1 percent compared to 2022.
  • The growth was mainly attributed to the increase in commercial unit revenues by 5.1 percent
  • It was also due to rise in carriers and wholesale unit revenues by 1.4 percent in stc KSA,.

Construction in China-Saudi Arabia ethylene project begins

FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...
  • The project is being built in the Gulei petrochemicals base in Zhangzhou city, in eastern China’s Fujian Province.
  • The project entails a total investment of $6.3 billion from SABIC and Fujian Energy Petrochemical Group Co. Ltd.

Iran-EU trade surpasses US$5bn in 2023, says Eurostat

TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...
  • Trade between Iran and member states of the EU recorded a decrease of 9 percent from January to December 2023.
  • During that period, the exchange of products between Iran and the EU member states was valued at US$5 billion.

KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility

ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...
  • The 30,000 square meters advanced manufacturing facility for APT in KEZAD will be located adjacent to Emirates Global Aluminum.
  • The facility will be one of the largest manufacturers of aluminum in the world and will be operational by early 2025.

Emirates Flight acquires Bustanica

Bustanica is the world's largest indoor vertical farm.
  • Bustanica’s 330,000sqft facility has the capacity to grow more than 1 million kilograms of leafy greens a year.
  • Its produce is available across all major retailers in the UAE such as Spinney's, Waitrose, Carrefour, and Choithrams.

SCC committee discusses issues related to Sharjah’s economy and tourism

SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...
  • The committee addressed the outcomes of its recent visit to Sharjah Commerce and Tourism Development Authority.
  • The committee was briefed about the authority’s efforts to stimulate tourism by conducting events throughout the year.

ADNOC Gas to pay $3.41bn dividend

It includes $1.7 billion scheduled for distribution in Q2 2025.

Latest News

OPEC lowers 2024 oil demand forecast, citing robust non-OECD activity

According to the organization's October report, the total world oil demand is anticipated to reach 105.6 mb/d in 4Q-24, to...

Sub-Saharan Africa: Nigeria takes #2 spot in global crypto adoption

Sub-Saharan Africa accounts for the global cryptocurrency economy’s smallest share, representing 2.7% of transaction volume worldwide between July 2023 and...

North Korea shows first photos of banned uranium enrichment site

North Korea for the first time showed images of the centrifuges that produce fuel for its nuclear bombs on Friday,...

Most Read

Central & Southern Asia and Oceania region leads the world in cryptocurrency adoption

The fifth annual Chainalysis Global Crypto Adoption Index looks at both on- and off-chain data to determine which countries are...
  • This year, crypto activity increased across countries of all income brackets
  • Central & Southern Asia and Oceania accounted for over $750 billion in crypto asset inflows

UAE banking sector assets exceed $1.16 trillion by the end of June

Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) revealed that total banking assets, including bank acceptance certificates,...
  • The assents registered a month-on-month increase of 0.5 percent, compared to AED 4.28 trillion in May 2024.
  • The total foreign assets of the Central Bank of the UAE exceeded the AED 770 billion barrier at the end of June, for the first time in its history.

How Pakistan is becoming a top tech hub in the GCC

Pakistan's IT sector is thriving, with growing exports and recognition as a tech hub, driven by government support, skilled talent,...
  • While Pakistan has been declared the "Tech Destination of the Year" at GITEX GLOBAL 2024, one of the key players driving this growth is the Pakistan Software Houses Association
  • Across the GCC, Pakistani companies provide cybersecurity and AI driven solutions across various sectors, including banking and fintech industries