$5.8bn worth deals signed in first four days of Dubai Airshow 2023
DUBAI, UAE – Tawazun Council signed 16 deals, worth US$1.3 billion (AED 4.87 billion), with local and international companies on...
Business
Mawani, CMA CGM Group lay foundation for logistics park at Jeddah Islamic Port
RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) and CMA CGM launched on Wednesday a new logistics park at...
Business
Geostrategy
UAE wants political solution to Ukraine crisis: Anwar Gargash
Anwar Gargash, UAE Minister of State for Foreign Affairs and adviser to President Khalifa Bin Zayed Al-Nahyan, made these comments...
- The world is facing a difficult test and severe polarization imposed by the Ukrainian crisis, which threatens the foundation of international community, Gargash said.
- Ministry of Foreign Affairs and International Cooperation (MoFAIC) had expressed particular alarm at the consequences for civilians present in Ukraine.
Business
Shares of Ma’aden shoot up 6% on the back of record earnings
Shares of Ma’aden, the Saudi mining company, vaulted six percent in trading on Sunday when news broke of its record...
- Amid a jump in commodity prices, the miner turned into a profit of SR5.2 billion in 2021, after making losses of SR280 million a year ago, according to a filing
- Despite solid results, the company said it won't pay any dividends to shareholders for 2021 “based on the company’s need to continue funding its current and future projects”
Business
Saudi stocks post gains in early trading as oil prices decline
Saudi stocks posted gains in the early hours of trading on Sunday due to a dip in the prices of...
- Arabian Mining Co, known as Ma'aden, gained 6.92 percent to top the gainers in early trading after posting a profit of SR5.23 billion ($1.4 billion) in 2021
- Aramco, the largest player in the Saudi oil market, gained 0.97 percent.
Economy
Bahrain provides unemployment benefits to 31,099 people in 2021
Bahrain government has provided unemployment benefits to 31,099 citizens in 2021, according to the country’s Labor Minister Jameel bin Mohammed...
- Unemployment benefit has not been discontinued for any beneficiary who meets the eligibility conditions, said the country's Labour minister Jameel bin Mohammed Ali Humaidan.
- Amendments have been made to the Unemployment Insurance Law to keep pace with the economic requirements of Bahraini jobseekers, he said.
Economy
Saudi Arabia has stable food stocks, says agriculture minister
Saudi Arabia has taken steps to maintain the stability of domestic supply in accordance with the food security strategy.
- Abdul Rahman Al-Fadli said Saudi Arabia’s food commodity markets had not experienced any supply shortages
- The country has been ranked one of the world’s best in terms of food abundance, added the agriculture minister
Business
The Blockchain Opportunity
Are regional governments ready to adopt blockchain technology to boost business payments, transactions, interbank payments and corporate dealings?
- Adopting blockchain is likely to boost financial transactions, interbank payments and corporate dealings in the region
- From banking to healthcare, blockchain business applications are transforming the way data is stored, and accessed
Economy
Bahrain’s Growth Dynamics
Bahrain has a $90 per barrel breakeven oil price, so the country is moving forward with serious economic diversification plans...
- Bahrain has a $90 per barrel breakeven oil price, so the country is moving forward with serious economic diversification plans
- The economy of Bahrain has particular strength in the financial services and technology sectors and related industries
Why are you cutting costs and how?
While restructuring should be a regular part of economic and business cycles, what’s happening in the GCC region is just...
- Global slowdown has led to volatile oil prices, businesses, geopolitical tensions and a pullback in government spending
- Key industries in the GCC from construction and retail to logistics and energy are feeling the strain of lower-than-expected growth rates
Business
Humanity vs Technology
Artificial intelligence and machine learning are stirring as much of a concern about job security as they are steering efficient...
- Artificial intelligence and machine learning are stirring as much of a concern about job security as they are steering efficient outcome strategies.
- About 84 percent of investors will rather depend on the human touchpoint of financial advisors than rely on automated investment technologies, says a survey
Business
Do structural reforms attract FDI?
As regional bourses aim to compete with developed markets, questions are also being raised over the state of reforms, the...
- Most countries in the GCC have embarked upon a tremendous raft of regulatory improvements
- A key factor of reform and regulation and attracting FDI into the region is investor confidence
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$5.8bn worth deals signed in first four days of Dubai Airshow 2023
DUBAI, UAE – Tawazun Council signed 16 deals, worth US$1.3 billion (AED 4.87 billion), with local and international companies on...
Business
Company News
Tadawul market cap vaults
Business
Latest News
SAFEEN, Amaan Baghdad sign MoU
Business
UAE, Russia discuss ways to bolster medical collaboration
DUBAI, UAE - UAE's Ministry of Health and Prevention (MoHAP) discussed with the Russian Ministry of Industry and Trade ways...
Geostrategy
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Business
Yahsat reports double digit revenue
The company posted an EBITDA of $189 million.
- The company also announced a normalised net income of $76 million, up 39 percent year-on-year
- It also posted an adjusted EBITDA of AED694 million ($189 million), up 10 percent year-on-year
Business
BinDawood’s profit falls by 74%
Its net profit tumbled to $16m in first nine months.
- The company attributed the weak figures to lower gross profit and higher operating expenses combined
- For the third quarter of the year, BinDawood accrued losses of $12.80 million from profits of $18.66 million in the same period of last year
Business
Al-Othaim’s profit up by 436%
Its profit rose to $235m in the first nine months of 2022.
- The company’s share price went up 1.57 percent to SR116.80, after releasing its earnings report on Monday
- Thanks to a 13 percent increase in revenue to $1.86 billion, the retailer’s profit surged 486 percent from $40 million in the same period last year