NBM’s board approves increasing Murabaha sukuk issue to $133m
RIYADH, SAUDI ARABIA - National Building and Marketing Co’s (NBM) board of directors approved an increase of Murabaha SAR-denominated sukuk...
Business
Saudi Arabia, CARICOM countries hold first summit for strategic partnership
RIYADH, SAUDI ARABIA - Since its foundation, the Kingdom has been keen to build bridges of communication with all the...
Geostrategy
Business
DP World volume growth 9.4 percent
All DP World regions delivered volume growth, especially India.
- 2021 gross volume growth was broad-based with India, Asia Pacific, Middle East & Africa, Europe, Australia and Americas regions being the key growth drivers.
- Chief Executive Officer Sultan Ahmed Bin Sulayem said the performance was due to the company's continued investment in high-quality assets in the right locations.
Business
EGA to build an aluminum recycling facility in UAE
Emirates Global Aluminum is looking to set up an aluminum recycling facility with a capacity to churn out 150,000 tonnes...
- EGA intends to market recycled aluminum under the product name "EternAL," the company announced on Wednesday in a statement
- Feasibility studies for the project are underway. Production ramp-up could begin as early as 2024, the company revealed
Economy
UAE climbs to 3rd globally in Agility Emerging Markets Logistics Index
The UAE is the most competitive emerging market in GCC and the third most competitive on a global scale after...
- The UAE out-performed all 50 countries in business fundamentals, an area where Gulf and MENA countries are clear leaders
- The 2022 Agility Emerging Markets Logistics Index is the company’s 13th annual ranking of the world’s 50 leading emerging markets
Arts & Culture
Jordan announces program of jurisprudence lessons in the Kingdom’s mosques
The initiative is about enlightening people on the matters of their religious jurisprudence and compliance with the hadith of the...
- The initiative is about enlightening people on the matters of their religious jurisprudence and compliance with the hadith of the Prophet
- The initiative also aims to introduce scholars, mosque pioneers and students of knowledge to jurisprudence and its meanings in Qur’an and Hadith
Business
E-commerce in F&B sector in Gulf is projected to reach $71.62 bn by 2028
E-commerce in the F&B industry is booming with recent research forecasting it to reach USD71.62 billion by 2028, registering a...
- These trends have led to an urgent need for the industry to dig deeper into its e-commerce offerings to level up the ecosystem
- Trends, trials, and solutions to truly unlock the e-commerce potential will be explored in great depth for the first time at Gulfood 2022
Geostrategy
Israel says Syria fired anti-aircraft missile during reported Israeli strike
Syrian state television reported an Israeli strike around Damascus.
- Syrian state television reported an Israeli strike around Damascus
- Israel has not confirmed it carried out any missile strike against Syria
Business
Qatar Industrial Co. posts net profit of $38m in 2021
Qatar Industrial Manufacturing Co. has reported a net profit of $38m for 2021 in comparison to net profit of $23m...
- The company disclosed the interim financial statement for the 12-month period ending Dec. 31, 2021
- Qatar Industrial Manufacturing Co. was established in 1990 with a capital of QR 475.2 million
Geostrategy
New guidelines for Umrah pilgrims announced by Saudi ministry
The Ministry of Hajj and Umrah announced an update in the procedures for entering Saudi Arabia for Umrah, which is...
- This is done to ensure the health and safety of the Umrah Performers and visitors
- These new requirements will go into effect starting at 1:00 am Wednesday, February 9, 2022
Science
UAE to train 10,000 female students in various fields
The UAE has launched the "building future talents" to build 10,000 UAE public school female students’ skills in the fields...
- The initiative is based on introducing an interactive smart application that includes more than 450 activities on 21st century skills
- The smart application presents three innovative reward categories for students participating in the initiative, based on the points they accumulate for every step they complete
Business
First edition of leading global event on defense to kick off in Saudi
The World Defense Exhibition (WDE) declared that its first edition will be held in Riyadh, Saudi Arabia, from March 6-9,...
- More than 450 companies from around 37 countries will participate in showcasing the latest defense and security industry technologies.
- A day before the start of the show the International Institute for Strategic Studies (IISS) will organize the “Riyadh Defense Forum”.
NBM’s board approves increasing Murabaha sukuk issue to $133m
RIYADH, SAUDI ARABIA - National Building and Marketing Co’s (NBM) board of directors approved an increase of Murabaha SAR-denominated sukuk...
Business
Company News
Latest News
Jordan’s King meets Russian minister, urges stability in southern Syria
AMMAN, JORDAN - Jordan's King Abdullah received Russian Foreign Minister Sergey Lavrov in Amman on Thursday and stressed the importance...
Geostrategy
Abu Dhabi Ship Building signs MoU
The deal was signed with Indonesia's state-owned shipbuilder PT Pal.
Business
Arab nations to hold economic development summit every four years
Dubbed the 'Arab Development Summit', it may be hosted by the Cairo-based Arab League.
Geostrategy
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Interview
UAE a safe global oil, energy supply source: OPEC chief
Since joining the OPEC, the role of the UAE has remained clear: to increase production, maintain economic growth, achieve diversification...
- Since joining the OPEC, the role of the UAE has remained clear: to increase production, maintain economic growth, achieve diversification through other sources, and reduce costs
- The UAE, one of the largest OPEC producers, has attained a significant stature in global energy and oil markets in terms of production, refinery, storage, transport and shipping
Business
Fertiglobe Q3 revenues up $1.32bn
Adjusted EBITDA grew 64 percent to US$606 million.
- Free cash flow increased to US$189 million from US$56 million in Q3 2021
- The company will pay US$700 million, equivalent to AED0.31 per share, to shareholders in April 2023
Geostrategy
UAE-China trade $64 bn in first eight months of 2022: Ambassador
Dubai, UAE---China-UAE bilateral trade has exceeded US$64 billion during the first eight months of 2022, which marked a 27.93 percent...
- China has become the UAE’s largest non-oil trading partner in the world, said Zhang Yiming, Ambassador Extraordinary and Plenipotentiary.
- UAE remained China’s second-largest trading partner and the largest export market in the Arab region, he said.