GCC equity markets ended 2024 in positive territory
Five of seven GCC equity market indices under coverage ended 2024 on the rise, according to an in-depth report on GCC equity...
Arts & Culture
Forum to discuss state of translation in Arab world at Cairo varsity
Riyadh, Saudi Arabia--The 10th Scientific Forum of translation themed “Time Differences between Composition and Translation in the Arab World” will...
- The forum is being held on the occasion of the awarding ceremony of the King Abdullah bin Abdulaziz International Prize for Translation.
- It aims at highlighting and advancing the effective means in supporting translation projects.
Business
QNB posts 7% rise in profit
Its net profit for the first nine months of the year was $3bn.
- QNB has been subject to hyperinflationary accounting requirements since the second quarter of 2022 for its Turkey operations
- The Doha-based lender’s operating income increased 24 percent year-on-year to $7.03 billion
Business
Saudi Arabia announces bidders for gypsum ore exploration
Riyadh, Saudi Arabia— Saudi National Gypsum Co. and El-Khayyat Gypsum are among the eight qualified bidders to compete for an...
- The site, with an area of 600,00 sq.m, is located south of the Nabat Center in Al Madinah Al Munawwarah region
- Saudi Arabia is expecting its mineral wealth to exceed earlier estimates of $1.3 trillion as it triples spending on the exploration of metals over the next three years
Business
MEmob+, GeoDB partner to launch a Digital Wallet, Blockchain Protocol
The investment reinforces both companies’ shared vision of democratizing data, changing how data is shared and monetized by the users...
- The investment reinforces both companies’ shared vision of democratizing data, changing how data is shared and monetized by the users and brands
- The decentralized wallet will empower people to earn rewards for the data they share and gain control of the data they generate
Economy
China’s Central Bank, European Central Bank renew currency swap deal
The PBOC said the renewal would help deepen bilateral financial cooperation, facilitate trade and investment, and maintain the stability of...
- The PBOC said the renewal would help deepen bilateral financial cooperation, facilitate trade and investment, and maintain the stability of the financial market
- A currency swap sees two parties agree to exchange a certain amount of foreign currency at a pre-determined rate, protecting against fluctuations
Geostrategy
UAE, Serbian presidents discuss bilateral relations
They also discussed opportunities to extend their cooperation within the framework of their comprehensive strategic partnership.
- They also discussed opportunities to extend their cooperation within the framework of their comprehensive strategic partnership
- They also reviewed various aspects of economic, commercial and political cooperation
Business
Dubai records over US$435m in realty transactions Monday
Dubai real estate market recorded 445 sales transactions worth US$321 million, in addition to 68 mortgage deals of $121 million...
- Dubai real estate market recorded 445 sales transactions worth $321 million.
- The market witnessed 68 mortgage deals of $121 million and 37 gifts deals amounting to $16 million.
Economy
Saudi Arabia’s Industrial Production Index in August up by 6.8 percent
Riyadh, Saudi Arabia-- Saudi Arabia's Industrial Production Index in August 2022 increased by 6.8 percent compared to August 2021. The...
- In August 2022, mining and quarrying grew by 15.5 percent compared to August 2021.
- The manufacturing activity increased by 22 percent compared to the same month of the previous year. The electricity and gas supplies increased by 11.3 percent.
Geostrategy
Saudi Arabian delegation visits Oman, to enhance bilateral ties
A Saudi Arabian delegation led by Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha is on a...
- A Saudi Arabian delegation led by Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha is on a visit to Oman.
- The Saudi delegation met with Oman's Minister of Transport, Communications and Information Technology Saeed Al-Mawali and Minister of Economy Saeed As-Saqri.
Business
Burjeel begins trading on ADX
Shares closed the debut session up 15 percent ($0.62).
- The company raised AED1.1 billion ($299.49 million) after offering a 11 percent stake in an IPO.
- It was oversubscribed 29 times to over AED32 billion after seeing a significant demand from UAE and outside investors.
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Company News
Vodafone, Microsoft ink pact
Business
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ADNOC L&S gets new VLCC
Business
Total of 52 MoUs signed in Saudi-Korean Investment Forum
RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here....
Business
Nearly 5,000 member companies join Sharjah Chamber in 2023
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has logged an impressive surge in new memberships this...
Business
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Business
EasyLease Q3 revenue $57.66m
It's net profit was AED 26.5 million ($7.21m) in Q3 2023.
- it's net profit was AED 26.5 million ($7.21m) in Q3 2023, compared to AED 32.73 million ($8.91m) YoY over Q3 2022.
- Cost-effectiveness, exceptional maneuverability and expedited travel, are driving the popularity of two-wheelers in the UAE.
Business
Mawani, SGP ink US$266m pact
The aim is to establish multiple logistics zones in the Kingdom.
- The objective is to establish logistics zones that will enhance efficiency of the sector, improve service quality and generate additional job opportunities.
- This initiative is expected to strengthen the role of the logistics sector in supporting the national economy.
Geostrategy
Ground operation likely in Gaza Strip, says Israeli envoy to Russia
MOSCOW, RUSSIA - The probability that the Israel Defense Forces (IDF) will launch a ground operation against Palestinian group Hamas...
- Israel announced a total blockade of the Gaza Strip.
- Israeli forces have been bombarding the area.