Two falcons sell for $81,300 at Saudi Falcons Club Auction
Riyadh, Saudi Arabia - Two falcons were sold for a combined total of $81,300 (SAR305,000 ) on the tenth night...
Arts & Culture
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,...
Geostrategy
Business
IHC buys 54% stake in Emircom
Firm buys stake for $68 million via its subsidiary IHC Digital
- Emircom is the Middle East’s leading information and communications technology (ICT) provider.
- This $68 million purchase comes as part of IHC’s strategy to grow its digital assets portfolio and expand into new growth areas.
Business
ADNOC Distribution to pay $349m
This is the first payment of a full-year AED2.57 billion dividend.
- The second and final dividend for 2022 expected to be paid in April 2023, subject to the Board of Directors’ recommendation and shareholders’ approval.
- The 2022 full-year dividend would offer a 4.9 percent annual dividend yield (based on a share price of AED4.21 as of 27th September 2022).
Business
ADC sets price for IPO
Its share will be available in the price range of $24-$27.
- the process for institutional investors, which will end on Oct. 5, will be led by HSBC Saudi Arabia, Goldman Sachs Saudi Arabia, and SNB Capital
- ADC is offering 30 percent of its capital, representing 26.7 million, and will list on Nomu
Business
ADQ and OIA discuss opportunities to boost Oman-UAE cooperation
Abu Dhabi, UAE--ADQ, an Abu Dhabi-based investment and holding company, discussed a range of investment opportunities with Oman Investment Authority...
- The meeting was held on the sidelines of President Sheikh Mohamed Zayed Al Nahyan's visit to Oman.
- ADQ and OIA recently entered into an AED10 billion ($2.72 billion) partnership agreement to facilitate investments between the UAE and Oman in sectors of mutual priority.
Geostrategy
UAE president, Oman sultan discuss ties, collaboration
Sheikh Mohamed discussed opportunities for building upon the growing economic ties between the UAE and Oman.
- Sheikh Mohamed discussed opportunities for building upon the growing economic ties between the UAE and Oman
- Their talks centred around the shared vision for a secure and stable region that promotes sustainable development and supports a thriving economy
Geostrategy
UAE Foreign Minister makes phone call to Israeli PM
Sheikh Abdullah bin Zayed thanked Prime Minister Lapid for the warm reception during his recent visit at the head of...
- Sheikh Abdullah bin Zayed thanked Prime Minister Lapid for the warm reception during his recent visit at the head of an official delegation to Israel
- UAE Foreign Minister commended the statement of Lapid before the UN General Assembly calling for a two-state solution to resolve Israeli-Palestinian conflict
Business
Saudi Arabia urges cooperation in tourism for sustainable future
Riyadh, Saudi Arabia - Saudi Minister of Tourism Ahmed bin Aqeel Al-Khatib said more cooperation is a must for sustainable...
- Saudi Minister of Tourism Ahmed bin Aqeel Al-Khatib said the cooperation includes facing the issues spawned by Covid pandemic.
- Al-Khatib said the tourism sector is “more capable of providing wealth and opportunities in places where they are most needed.”
Business
MENA’s first NFT marketplace NIFTY Souq secures $1.5m investment
The UAE-based NIFTY Souq, the MENA region’s first NFT marketplace which launched in 2021, has announced they’ve secured $1.5 million...
- Confirmed investors include Palm Ventures, Falak Investment Hub and Fitzy Fund alongside angel investors from the UAE, KSA and the US.
- The seed-fund investment will be used on tech updates and the platform's expansion, says Talal Afghani, NIFTY Souq’s Co-founder.
Economy
Saudi Arabia ranks first in G20 visitors flow rating: report
According to the report, the number of foreign tourists visiting the kingdom has surged 121 percent from January to July...
- According to the report, the number of foreign tourists visiting the kingdom has surged 121 percent from January to July 2022
- Saudi tourism sector is currently recovering from the fallout of the pandemic following preventive measures taken by the government
Business
Tabby, Paymob announce partnership
They will create a Buy Now Pay Later solution for retailers.
- Tabby’s BNPL payment solution will be available to over 120,000 Paymob merchants.
- Tabby is a payments and shopping app, and Paymob, an omni-channel payments facilitator in MENAP.
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Two falcons sell for $81,300 at Saudi Falcons Club Auction
Riyadh, Saudi Arabia - Two falcons were sold for a combined total of $81,300 (SAR305,000 ) on the tenth night...
Arts & Culture
Company News
Dubai Police ink deal with UAE Hockey Federation
Arts & Culture
Latest News
ROSHN group opens sale for SEDRA phase 3 units in Riyadh
RIYADH, SAUDI ARABIA - ROSHN Group, one of the Public Investment Fund (PIF) subsidiaries, announced on Sunday the opening of...
Business
ADB capital reforms unlock $100bn to support Asia and the Pacific region
MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...
Economy
Saudi Arabia launches program to document football clubs’ chants
Riyadh, Saudi Arabia - The Saudi Commission launched Wednesday "Saudi Football Trouq", a unique initiative that is dedicated to the...
Arts & Culture
Most Read
Business
Central Bank of Bahrain treasury bills oversubscribed by 149 percent
MANAMA, BAHRAIN - This week’s BD 70 million (US$186 issue of Government Treasury Bills has been oversubscribed by 149 percent....
- The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of the Kingdom of Bahrain.
- The issue date of these bills is September 27 2023 and the maturity date is December 27 2023.
Business
IsDBI, BIBF join hands to enhance global Islamic finance expertise
MANAMA, BAHRAIN - The Bahrain Institute of Banking and Finance (BIBF) and the Islamic Development Bank Institute (IsDBI) have decided...
- The programs cater to professionals from financial institutions, regulatory bodies, supervisory authorities and legal experts.
- This partnership between IsDBI, BIBF focuses on elevating the industry, forging international connections, and nurturing talent on a global scale.
Business
Arab countries account for 60 percent of global Islamic financial industry, says AMF
ABU DHABI, UAE – Director-General and Chairman of the Board of Directors of the Arab Monetary Fund Dr Abdul Rahman...
- Setting accounting standards for Islamic finance institutions helps support the growth of the industry.
- Maintaining the Islamic financial industry's achievements requires focusing on capacity building.