UAE minister calls for climate action by promoting nature-based solutions
NEW YORK, US – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri called upon the global...
Geostrategy
$15m paid in compensation to passengers in 2021-22 in Saudi Arabia, says GACA
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) said that national airlines in the Kingdom have issued...
Geostrategy
Economy
Egypt’s private sector non-oil activity shrinks in Nov as input costs rise
Egypt's non-oil activity in the private sector shrank for a 12th month in November as inflation expectations rose, causing new...
- IHS Markit's Purchasing Managers' Index (PMI) came in at 48.7, below the 50.0 threshold that separates growth from contraction.
- Higher fuel and shipping costs often led to increased prices, including for raw items such as foodstuff and paper, said IHS Markit.
Business
Multiply Group starts trading on ADX
The IHC subsidiary starts trading under the ticker MULTIPLY.
- Multiply Group will become the eighth IHC subsidiary to list on the ADX in less than a year.
- The group has assets of AED8.16 billion ($2.2 billion) and 3,240 employees.
Economy
Saudi non-oil private sector records growth in November
The non-oil private sector of Saudi Arabia continued to grow in November on the back of strong demand and modest...
- The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers' Index (PMI) fell to 56.9 in November from 57.7 in October
- The headline figure was down to a three-month low as growth in new orders declined for the second month in a row from September's seven-year high
Economy
QNB sees global economy recovering, despite bottlenecks
The bank said it was confident that the global bottlenecks would continue to improve over the coming year. ‘We expect...
- QNB has said the global economy has made a remarkable recovery from the peak impact of the Covid-19 pandemic last year
- It attributed the revival to ‘unprecedented fiscal and monetary stimulus,’ particularly in the US
Arts & Culture
Al Dhafra Festival camel beauty pageant from December 14
The festival aims to, among other things, make Abu Dhabi the preferred place for camel fairs regionally as well as...
- The Al Dhafra festival began in 2018 to preserve some camel breeds
- It also aims to to generate domestic and Gulf tourism to boost the economy
Economy
UAE signs deal with France for food security
The signing of the MoU reportedly coincided with the visit of the French President Emmanuel Macron to the UAE.
- Under the terms of the MoU, the two countries are expected to collaborate to facilitate trade in agricultural and food products
- They will also work for the development of sustainable agricultural production with a focus on innovation
Business
Jordanian exporters association seeks to bridge trade imbalance with Turkey
According to official data, Jordanian exports to Turkey in the first 8 months of the current year dropped by 10...
- According to official data, Jordanian exports to Turkey in the first 8 months of the current year dropped by 10 percent to JD29 million
- Turkish imports to the Kingdom in the same period surged by 25 percent to a total of JD303 million
Geostrategy
Saudi Crown Prince Mohammed bin Salman to visit Oman Monday
The visit will explore diverse areas that serve the interests of the two countries.
- The visit will explore diverse areas that serve the interests of the two countries
- It will be the culmination of the visit of Oman Sultan Haitham Bin Tarik to the KSA in July 2021
Business
SAMI of KSA and a French firm set up a joint venture
The Saudi Arabian Military Industries, a subsidiary of the Public Investment Fund, launched a joint venture with French company Figeac...
- The company said that the joint venture’s revenue would reach $200 million by 2030 and the ownership would be divided among the two countries
- SAMI also signed an agreement with Airbus to form a joint project specialized in military aviation services and maintenance
Business
Egypt to boost cotton gins capacity to 4.4m kantars
Egypt will increase cotton gins capacity to 4.4 million kantars annually up from 1.5 million kantars, according to a government...
- A kantar is the official Egyptian weight unit for measuring cotton
- It is equal to either 157 kg of seed cotton or 50 kg of lint cotton
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UAE minister calls for climate action by promoting nature-based solutions
NEW YORK, US – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri called upon the global...
Geostrategy
Company News
Raydan posts loss of $6m in H1
Business
KHC’s profit vaults by 1,162%
Business
Latest News
Saudi Arabia’s Industrial Production Index in August up by 6.8 percent
Riyadh, Saudi Arabia-- Saudi Arabia's Industrial Production Index in August 2022 increased by 6.8 percent compared to August 2021. The...
Economy
Saudi Arabian delegation visits Oman, to enhance bilateral ties
A Saudi Arabian delegation led by Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha is on a...
Geostrategy
Most Read
Business
Al Sagr to cut capital
It has sought shareholders' nod for 65% capital reduction.
- According to a bourse filing, the Saudi insurer aims to reduce its capital from $106 million to $37.33 million.
- The company is restructuring its capital in order to write off accumulated losses of $69.33 million
Business
Almarai posts profit in Q3
The Saudi firm's net profit rose 10% to $372m.
- However, the company's stock took a dip, falling 4.15 percent to end the session at SR53.10
- The company said positive revenue growth was also witnessed across all categories after the removal of COVID-19 movement restrictions and the re-opening of educational institutions
Economy
Jordan fixes bread prices until 2023 amid global grain price hike
According to the cabinet decision, the price of large-sized white pitta bread will remain at 320 fils, while small-sized white...
- According to the cabinet decision, the price of large-sized white pitta bread will remain at 320 fils, while small-sized white pitta bread will remain at 400 fils
- The decision also included continuing to provide $6 in cash support to non-mechanical bakeries, specifically those that use one tonne or less of flour daily