Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
Business
Saudi Arabia’s Purchasing Manager’s Index rises to 57.2 points in Feb
RIYADH, SAUDI ARABIA - The seasonally adjusted Riyadh Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
Economy
QSE-listed companies hit $7bn net profit
This amounts to an increase of 29% over last year.
- All of Qatar Stock Exchange listed companies have disclosed their financial results for the six month period ended June 30, 2022
- The QSE is a full member of the World Federation of Exchanges and was recently upgraded by the MSCI and the S&P Dow Jones Indices
Business
BHP posts 40% jump in profit
The gains were due to high demand for coal and copper.
- The company recorded US$23.8 billion in underlying attributable profit after a busy year in which it completed a merger with petroleum giant Woodside
- BHP chief executive Mike Henry said that the strong results were achieved due to safe and reliable operations, project delivery and capital discipline
Business
Saudi Helicopter Co to buy six Airbus choppers for its fleet
The new ACH160 is one of the world’s most technologically advanced helicopters with a new rotor blade design that results...
- The new helicopter comes in line with the firm’s aims to deliver an improved environmental footprint and lower fuel consumption
- The PIF had established THC as part of its strategy to activate new sectors in Saudi Arabia and generate long-term commercial returns
Geostrategy
Russian President pitches ‘combat-tested’ weapons to allies
While the Ukraine war rages on, Russian President Vladimir Putin has pitched weapons to allies around the world, lauding them...
- The President boasted weapons are valued by military professionals for their "reliability, quality and most importantly -- high efficiency"
- According to the Stockholm International Peace Research Institute (SPIRI), Russia is the second largest arms exporter in the world after the United States
Economy
Dar Al Ber spends over $57m on charitable projects in UAE, worldwide
The number of projects inside the UAE and in several regions around the world has reached 22,517.
- The number of projects inside the UAE and in several regions around the world has reached 22,517
- Dar Al Ber also implemented seasonal projects in 37 countries in Asia, Africa and Europe
Economy
Saudi agriculture sector grows 7.8% to value at $19.23bn
The agriculture output in 2017 was estimated at $17.41 billion, around $17.48 billion in 2018, and $17.65 billion in 2019,...
- The positive growth in the sector has been attributed to the strategies implemented by the kingdom's government corresponding with Vision 2030
- The sector’s contribution to the gross domestic product in general amounted to 2.3 percent last year, while the contribution of agricultural output to non-oil GDP was 3.6 percent
Economy
Bahrain posts a budget surplus of $88m for first half of 2022
Bahrain has posted a budget surplus of $88 million in the first half of 2022, from a deficit of $1.38...
- Actual revenues collected increased by 52 percent compared to the same period in 2021.The kingdom had reported a deficit of $1.38 billion a year earlier.
- Actual expenses amounted to $4.4 billion, an increase at a rate of only 2 percent compared to the same period in 2021.
Geostrategy
Bahrain, Saudi to cooperate in job localization, labor market regulation
Bahrain and Saudi Arabia have discussed ways to enhance technical cooperation in the areas of job localization programs and labor...
- They reviewed their plans in the field of training citizens and applied professional standards.
- Saudi minister praises Bahrain’s position and leadership in regulating the labor market, noting its experience in enhancing social protection for workers through the unemployment.
Business
Agthia 2021 acquisitions worth $630m
The Group is planning a new acquisition in Egypt.
- Agthia aims to expand geographically in markets such as Egypt and Pakistan, noting its 60 percent acquisition of Abu Auf Group in Egypt.
- The group's products are currently available in more than 45 markets in North America, Europe, Asia, North Africa and the Middle East.
Economy
Saudi Arabia’s inflation surges to 2.7 percent in July: GASTAT
Saudi Arabia’s inflation rose to 2.7 percent in July 2022 compared to June, according to the General Authority for Statistics...
- Cost-of-living index for July rose to 107.20 points, according to base year 2018, compared to 104.41 points in July.
- The Increase in consumer price index (CPI) was driven by a 3.9 percent year-on-year rise in the food and beverage prices.
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Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
Business
Company News
Latest News
KEZAD, Al Eskan Al Jamae merge
Business
Dubai Police ink deal with UAE Hockey Federation
DUBAI, UAE - The Athletes Council at Dubai Police and the UAE Hockey Federation signed an agreement (MoU) to enhance...
Arts & Culture
UAE to implement support scheme for low-income farm owners
DUBAI, UAE - The Ministry of Community Development and Etihad Water & Electricity have announced the implementation mechanism of the...
Geostrategy
UAE discusses clean energy partnerships with Germany, Netherlands
ABU DHABI, UAE - A senior UAE official of the Ministry of Energy and Infrastructure (MoEI) visited Germany and the...
Geostrategy
Most Read
Business
UAE bank investments at all-time-high of $147 bn in February
Abu Dhabi, UAE - Bank investments in the UAE hit $147 billion by the end of February, the highest level...
- Held-to-maturity securities accounted for 42.5 percent of the total investments, reaching $52.4 billion
- The bank stock investments reached $3.3 billion in February, a rise of approximately 1.7 percent
Business
UAE ministry hosts discussion on poultry industry, food security
DUBAI, UAE - UAE Ministry of Climate Change and the Environment (MOCCAE) on Tuesday organized the second National Dialogue for...
- The National Dialogue for Food Security, organized by MOCCAE, aims to discuss topics that contribute to enhance food security for UAE.
- The dialogue was also attended by poultry industry experts and representatives of various federal and local government entities.
Business
Alcoa, EGA ink supply pact
Alcoa is now EGA's largest third-party supplier of alumina.
- The agreement, spanning eight years starting in 2024, includes options that enable EGA to procure up to 15.6 million metric tonnes of alumina.
- The pact is the largest alumina supply contract ever signed between the two firms and is one of the largest in the industry, said Alcoa CEO Roy Harvey.