IPOs in MENA raise US$5.8bn in first nine months of 2023
ABU DHABI, UAE - A recent report revealed that 29 initial public offerings (IPOs) were recorded in the Middle East...
Market Report
Arab ministers meet in Jordan, seek resolution to Gaza conflict
AMMAN, JORDAN – Foreign ministers from key Arab nations – including Saudi Arabia, the United Arab Emirates, Egypt, Qatar, and...
Geostrategy
Geostrategy
Tunisian FM says Kuwait is a key player in Arab world
Tunisian Foreign Minister Othman Jerandi has lauded Kuwait for its role in finding peaceful solutions to crisis plaguing the Arab...
- “The State of Kuwait plays a leading role in using its good offices in finding peaceful solutions to the crisis inside the Arab region and beyond," he affirmed
- Jerandi commended Kuwait's efforts to achieve rapprochement among the Gulf Cooperation Council (GCC) member countries
Business
DEWA to sponsor Dubai Award for Sustainable Transport
Dubai Electricity and Water Authority (DEWA) will be the strategic sponsor of the 12th Dubai Award for Sustainable Transport. The...
- Saeed Mohammed Al Tayer, MD & CEO of DEWA highlighted DEWA’s support for all efforts to enhance sustainable transport in the UAE and abroad
- This consolidates Dubai’s position as a global capital for a green economy and achieves sustainable development to ensure a brighter future
Economy
UNICEF: Lebanese crisis forcing youth out of learning
Lebanon’s crisis is increasingly forcing young people to drop out of learning and engage in ill-paid, irregular and informal work...
- The report – Searching for Hope – says that more than 4 in 10 youth in Lebanon reduced spending on education to buy basic food, medicine and other essential items
- Enrolment in educational institutions dropped from 60 percent in 2020-2021 to 43 percent in the current academic year
Business
Applebees, IHOP in UAE soon
The first location is scheduled to open in Dubai later this year.
- Dine Brands International is set to open multiple Applebee's Neighborhood Grill + Bar and IHOP restaurants in the UAE
- The first location will open in Dubai later this year through an agreement with established IHOP Franchisee
Business
Saudi Arabia looks to increase trade exchange with Iraq
The Saudi Export Development Authority organized a meeting of a group of Iraqi and Saudi businessmen to discuss opportunities for...
- The volume of exports of foodstuffs and construction constitutes about 60% of the total volume of the Saudi exports to Iraq
- Saudi Arabia imports aluminum scrap as well as iron scrap and some foodstuffs such as dates and rice from Iraq
Economy
Tunisia saves more than $40 million since 2011 with solar installations
The total power installed since 2011 has reached 126 megawatts peak (MWp), resulting in a reduction in CO2 emissions by...
- The total power installed since 2011 has reached 126 megawatts peak (MWp), resulting in a reduction in CO2 emissions by 394.5 ktonnes
- In 2021, about 11,395 individual PV installations were set up, compared to 8,370 a year earlier, which is up 36 percent
Economy
Qatar ranks 2nd in Gulf countries on corruption perceptions index
The index draws its data from a number of indicators issued by reputable international organizations, such as the World Competitiveness...
- The index draws its data from a number of indicators issued by reputable international organizations, such as the World Competitiveness Yearbook
- The index uses a scale from zero to 100, with zero being the most corrupt and 100 the most transparent
Business
Morocco: Overall port traffic up 11.6% in 2021
Moroccan ports have recorded a significant evolution of overall port traffic, which has risen from 172.1 million tons in 2020...
- The maritime and port sectors have overall shown great resilience to the Covid-19 pandemic
- The transshipment accounted for 41.9 percent of overall traffic, followed by imports of 33.3 percent
Business
Record real estate deals in 2021 will drive the sector in next 50 years: DLD
The record real estate transactions will contribute to driving the sector in the next 50 years during which the UAE...
- Real estate transactions worth almost AED 300 billion ($81.67 bn) were recorded last year, which is the highest ever in the recorded real estate history of Dubai.
- December 2021, in terms of overall index numbers, was the highest since February 2019 and the highest for index value since August 2018.
Business
Abu Dhabi non-oil trade in 11 months of 2021 totals $51.78 billion
The non-oil trade through Abu Dhabi ports during 11 months in 2021 amounted to AED190.20 billion ($51.78 bn), an increase...
- Imports accounted for AED83.63 billion of the non-oil trade and non-oil exports for AED71.17 billion, an increase of 5.4 percent compared to the same period last year.
- The re-exports were valued at nearly AED35.39 billion, an increase of 10 percent compared to 2020.
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IPOs in MENA raise US$5.8bn in first nine months of 2023
ABU DHABI, UAE - A recent report revealed that 29 initial public offerings (IPOs) were recorded in the Middle East...
Market Report
Company News
Al Sagr, Gulf Union may merge
Business
Latest News
QIB partners with Loop
Business
Qatar and Azerbaijan to enhance trade, energy relations
Doha, Qatar— Qatar and Azerbaijan have decided to enhance relations in the fields of energy and trade and in this...
Business
New industrial policy seeks to diversify Saudi economy
The program, launched by Saudi Crown Prince and Prime Minister Mohammed bin Salman, has identified more than 800 investment opportunities...
Videos
Qatar Digital Incubation Center fostering 25 new startups
The selection was made from among 42 competing startups which presented their projects in front of a specialized judging panel.
Business
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Economy
Egypt to grant ‘golden license’ in order to boost investment
The license will allow investors to buy or rent lands, operate and manage the projects and allocate the necessary facilities...
- Egyptian President Abdel Fattah Al-Sisi has issued a directive during the inauguration of the first International Forum and Exhibition for Industry
- The decision came following Egypt’s agreement with the International Monetary Fund, allowing the country to obtain an extended credit facility of $3 billion
Business
Savola Group posts 36% increase in profit
It recorded $173m profit in the first nine months of 2022.
- The food company said in a bourse filing that it had also posted a 20 percent revenue jump to $5.60 billion
- For the third quarter of 2022, net profit jumped 34 percent to $44 million, from $33 million in the same period last year
Geostrategy
Upcoming climate events to boost UAE-Egypt ties
The bilateral relations between the two countries are based on mutual respect and appreciation. The significant advancement in the bilateral...
- The upcoming events will witness further cooperation between the two countries, especially with Egypt hosting COP27 in Sharm El-Sheikh and the UAE hosting COP28 in 2023
- The UAE is the largest investor in Egypt, with over 1,250 Emirati firms operating in the country. Egypt, meanwhile, was among the first nations to recognize the formation of UAE