ADIB lists $500m green sukuk on LSE
The bank marked the issuance of its $500 million green sukuk.
Business
Saudi delegation takes part in Riyadh Expo 2030 symposium in Paris
PARIS, FRANCE - A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the...
Business
Business
Kamco Invest net profit $34m
Total revenue nearly doubles to reach $99.5m in 2021.
- Revenues from fees and commissions increased by 34.3 percent compared to 2020 to reach KWD20.2m.
- The company said it raised over $1.1 billion for several products and transactions, distributed around $235mn to clients.
Business
HMG records 30% spike in profit to $367m
Dr. Sulaiman Al Habib Group, a private health service provider in Saudi Arabia, has posted a 30 percent increase in...
- The company's sales soared to SR7.25 billion, jumping 23 percent year-on-year in response to a growth in the hospital segment and higher patient occupancy
- its board recommended the distribution of SR245 million in cash dividends to 350 million eligible shares at SR0.7 per share for the fourth quarter of the fiscal year 2021
Business
Arriyadh Development of KSA posts 40% jump in net profit
Arriyadh Development Co. posts a forty percent jump in net profit to $85 million for 2021.
- Results were derived from the associate company's business, as well as the increase in operating and rental revenues
- The company will distribute cash dividends of SR88.8 million to the shareholders for the second half of 2021
Business
The board of Al Rajhi Bank favors capital hike to $10.7bn
Al Rajhi Bank has recommended a sixty percent increase in the bank’s capital to $10.7 billion.
- The capital will be increased by granting SR15 billion in bonus shares to the bank’s shareholders
- The eligibility to get bonus shares will be given to shareholders owning the stocks by the end of the trading day of the bank’s Extraordinary General Assembly meeting date
Geostrategy
Bahrain government launches scheme to extend health services to citizens
Bahrain government has launched a health scheme, “Medic in Every Home”, aimed at extending health services and reaching out to...
- The project aims to enhance Bahrain’s rating on the third and fourth Sustainable Development Goals and increase the survival rate of the injured.
- Medic in Every Home was one of the three innovative ideas which were declared winners of the third edition of the Government Innovation Competition (Fikra).
Economy
Lebanon government clarifies on claims of overspending on dams
The Ministry of Energy and Water has said the two dams have so far cost $90 million, and not the...
- The expenditure on the Msailha Dam amounted to $69.13 million, according to official figures
- The same figures from the government say the amount spent on the Balaa Dam was $24 million
Economy
UAE inks deal to make medications more affordable
The initiative will provide affordable medicines to uninsured and low-income expat patients or those whose insurance does not cover the...
- The MoU was signed by the Ministry of Health and Prevention of the United Arab Emirates (UAE)
- It was inked with Janssen Pharmaceutical Companies of Johnson & Johnson, and healthcare consulting firm Axios
Geostrategy
SFD launches $135m infra projects
The projects have been inaugurated in Djibouti.
- The projects include two new development initiatives in the water and housing sector
- The fund has also laid the foundation stone for a project in the transportation sector
Economy
Golden Visa to boost Bahrain business attractiveness: Expert
The Bahrain Golden Visa was recently announced during a Cabinet meeting chaired by Crown Prince and Prime Minister Salman bin...
- To qualify for the Golden Residency Visa, existing residents must have stayed in Bahrain continuously for at least five years
- They must also have earned an average basic salary of no less than BHD 2,000 ($5,305) per month throughout the duration
Science
UAE sees climate action as catalyst of economic prosperity
UAE’s Minister of Industry and Advanced Technology, and UAE Special Envoy for Climate, Sultan Ahmed Al Jaber has said that...
- The minister noted the need to increase investments in agri-tech and leverage best practices that safeguard vulnerable nations' food and water security
- He was speaking at the Munich Security Conference titled "Scaling Up Climate Action" where he reiterated the UAE's support for robust climate finance
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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
ADIB lists $500m green sukuk on LSE
The bank marked the issuance of its $500 million green sukuk.
Business
Company News
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Middle East’s sports path to boosting tourism
The Arabian Gulf countries have hosted some of the biggest sporting events during the past decade. The World Cup is...
Videos
SCC approves proposals on Council’s establishment law
SHARJAH, UAE - The Sharjah Consultative Council (SCC) approved several proposals submitted by the council's members on the Consultative Council...
Geostrategy
‘UAE to reveal implementation map of Net Zero 2050 at COP27’
Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said the UAE’s participation in the 27th session of...
Science
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Geostrategy
‘Five including four police officers killed in Iran’
Four Iranian police officers and one "terrorist" have been killed in separate incidents in the strife-torn country, state media and...
- Iran has been rocked by over seven weeks of nationwide protests over the death of 22-year-old Kurdish Iranian woman Mahsa Amini.
- Amid the wider unrest, clashes have rocked Sistan-Baluchistan province, which borders Pakistan and Afghanistan.
Business
World Cup: Saudia to operate 780 flights to ferry fans to Doha
Riyadh, Saudi Arabia---Saudi Arabian Airlines (SAUDIA) has announced it will allocate 780 scheduled, additional and shuttle flights connecting Riyadh, Jeddah,...
- To cash in on the expected rush of fans, both UAE and Saudi Arabia have announced multiple-entry visas for fans.
- Qatar has also reopened the mothballed Doha International Airport to cater to the additional flights.
Geostrategy
COP27 summit opens as world races against climate clock
Just in the past few months, climate-induced catastrophes have killed thousands, displaced millions and cost billions in damages across the...
- The COP27 summit will focus like never before on money. Developing nations have "high expectations" for the creation of a dedicated funding facility to cover "loss and damage"
- The most conspicuous no-show will be China's Xi Jinping, whose leadership was renewed last month at a Communist Party Congress.