Saudi GACA issues air carrier, airport classifications for December 2023
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) issued its monthly classification index for air transport service...
Business
Economy
Jordan’s oil expenditure up by nearly 50 percent in Q1 2022
Jordan's oil bill went up by 49.1 percent in Q1 2022, compared to the same period in 2021, the Department...
- The value of the oil bill in Q1 2022 increased to JD761 million compared to JD510 million in the same period of 2021.
- Jordan’s crude oil import amounted to JD126 million, followed by gasoline with JD142 million and kerosene with JD9 million.
Business
Jordan, UAE review cooperation in improving quality higher education
Jordan and the United Arab Emirates (UAE) have discussed exchanging expertise between them, especially in the field of accreditation and...
- A meeting was held between the education ministers of both the countries for exchanging expertise in higher education.
- The mechanism of quality assurance procedures at the institution and program level was also discussed in the meeting.
Economy
Germany inflation highest in 50 years as energy, foodstuff prices rise
Germany hit the highest level of inflation in 50 years due to a rise in the cost of living, energy,...
- The data provided by the Federal Statistical Office of Germany indicate that levels of inflation reached 7.9 percent in May 2022.
- The Federal Statistical Office of Germany blamed the war in Ukraine and the rise in oil prices for hitting this record high inflation.
Business
ADX lists GFH Financial Group
The listing is set to expand GFH’s investor base and boost its share liquidity.
- This is GFH’s fourth regional listing with its shares already listed and actively traded on the Bahrain Bourse, Boursa Kuwait and the Dubai Financial Market
- The listing of GFH Financial Group on Abu Dhabi Securities Exchange brings the number of dual listings on the exchange to four
Business
Saudi Arabia, Seychelles to expand cooperation in tourism sector
Saudi Arabia and Seychelles will form a partnership to boost cooperation and exchange expertize in tourism sector which includes planning,...
- Saudi’s tourism ministry signed an MoU with the Ministry of Foreign Affairs and Tourism of Seychelles.
- The MoU aims at supporting the efforts of tourism institutions and associations via holding conferences.
Business
ADNOC’s Borouge IPO its largest ever, oversubscribed 42 times
ADNOC and its partner Borealis AG have announced the completion of bookbuild and public subscription for the IPO of Borouge,...
- The book was covered within less than one hour of the start of the public subscription process.
- Borouge is the fourth company that ADNOC has brought to market since 2017 and follows the successful IPOs of ADNOC Distribution, ADNOC Drilling and Fertiglobe.
Business
ICD net profit $2.74 bn
The Group's revenue was AED 169.4 bn, up 24.5 percent.
- The rise in revenue was attributed to rallying commodities prices in oil and gas, higher levels of activity in transportation.
- The Group's share of equity decreased by 1 percent to AED190.6 billion.
Business
French companies show interest in Saudi entertainment market
Major French companies have expressed their interest in accessing the Saudi market and investing in the tourism and entertainment market...
- These companies can inaugurate headquarters in Riyadh to maximize benefits from these opportunities, said Laurent Germain, president of Saudi-French Business Council.
- Germain said that Saudi Arabia has amazed the world with the entertainment industry within a short period of time.
Geostrategy
Iraq seeks to enhance global trade relations: official
Iraq seeks to enhance economic and commercial relations with the international community, said Hamid Al-Ghazi, the Iraqi Secretary-General of the...
- Iraq seeks to enhance economic and commercial relations with the international community, said Hamid Al-Ghazi, the Iraqi Secretary-General of the Council of Ministers
- Spanish ambassador Pedro Martinez said his government will support Iraq in all fields, especially in climate change
Economy
Israel signs free trade deal with UAE; its first in GCC, third in Middle East
The UAE has signed a Comprehensive Economic Partnership Agreement (CEPA) with Israel. Dr Thani bin Ahmed Al Zeyoudi, UAE Minister...
- The agreement builds on the strong foundations laid by the Abraham Accords, says UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi
- Talks for a free trade agreement began in November and concluded after four rounds of negotiations
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Saudi GACA issues air carrier, airport classifications for December 2023
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) issued its monthly classification index for air transport service...
Business
Company News
Dana Gas net profit up 64%
Business
Latest News
Al Arabia’s profit up 43%
Business
Innovation key to fairer world for people of determination, says UN chief António Guterres
Innovation and technology can be powerful tools for inclusion, enhancing access to information, education, and lifelong learning, opening new avenues...
Arts & Culture
German government to stop unjustified energy price increases
BERLIN, GERMANY - The German government aims to put a stop to energy price hikes it sees as unjustified with...
Business
UN report warns global food crises likely to increase
ROME, ITALY - The world's ability to nourish its burgeoning population is under threat and without broader socioeconomic and environmental...
Geostrategy
Most Read
Business
Fans without tickets can attend World Cup matches after group stage ends
Doha, Qatar---World Cup fans without tickets can travel to Qatar and watch the rest of the matches after the group...
- Qatari authorities said Early December feature, which allows fans without tickets to apply for a Hayya Card, will be valid after midnight on Dec. 2.
- Fans will need to show proof of accommodation and pay an entry fee of QAR 500 ($137) to obtain the Hayya Card and enter Qatar. Children under 12 will not be charged.
Geostrategy
Ukraine welcomes Russian oil price cap agreed by EU, G7
Ukraine welcomed a US$60 price cap on Russian oil agreed by the EU, G7 and Australia, saying it would "destroy"...
- Poland had refused to back the price cap plan over concerns the ceiling was too high.
- The embargo will prevent shipments of Russian crude by tanker vessel to the EU, which account for two thirds of imports.
Business
US unveils high-tech B-21 stealth bomber
PALMDALE, UNITED STATES - The United States on Friday unveiled the B-21 Raider, a high-tech stealth bomber that can carry...
- Many specifics of the aircraft are being kept under wraps.
- The plane will offer significant advances over existing bombers in the US fleet.