Aramco’s Luberef resumes bitumen exports after 20 years
RIYADH, SAUDI ARABIA - King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk...
Business
ROSHN group opens sale for SEDRA phase 3 units in Riyadh
RIYADH, SAUDI ARABIA - ROSHN Group, one of the Public Investment Fund (PIF) subsidiaries, announced on Sunday the opening of...
Business
Business
Borouge awards EPC contracts
The $6.2 bn contracts are meant for expansion in Ruwais
- With this expansion, Borouge said it will become the world’s largest single-site polyolefin complex.
- Borouge 4 will boost the company’s annual polyolefin production to 6.4 million tons.
Economy
Bahrain to introduce digital currency in the country
The Central Bank of Bahrain will offer the digital Dinar through a digital payments platform that can be accessed round...
- The central bank also intends to gradually raise the share of financing for small- and medium-sized enterprises
- Bahrain plans to list five more companies on its stock exchange next year including Bahrain Airport Services Company
Geostrategy
Austerity, far right: Merkel’s ambivalent legacy
During 16 years in power, she navigated Germany through the 2008 financial turmoil and ensuing eurozone debt crisis, the 2015...
- At the zenith of her popularity, Merkel led the conservatives to a thumping win with 41.5 percent of the vote in 2013.
- Merkel was lauded by human rights activists in 2015 for keeping Germany's borders open to hundreds of thousands of refugees.
Economy
UAE foreign trade in past 50 years rises 473 times to $9.3 trillion
The total value of the UAE’s foreign trade in the past five decades amounted to some AED34.23 trillion ($9.32 trillion),...
- The country’s trade balance from 1971 to 2020 recorded a surplus of nearly $1.3 trillion (AED4.76 trillion).
- UAE's exports increased 380 times, rising from $842 million (AED3.1 billion) in 1971 to $319.3 billion (AED1.17 trillion) by the end 2020.
Videos
This is the safest Arab country for women
When sexual harassment and other forms of violence are an everyday occurrence for women and girls around the world, there...
- Norway, according to the latest Gallup’s Institute “Law and Public Order” Index, is the safest country for women
- There is one Arab country on the index that is considered the safest place for women on earth after Norway
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
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Aramco’s Luberef resumes bitumen exports after 20 years
RIYADH, SAUDI ARABIA - King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk...
Business
Company News
Latest News
Foreign assets of Gulf central banks rise post Covid
Here are the details of how GCC countries gained in past four years in terms of foreign assets held by...
Infographics
DEWA to enhance ties with foreign firms at GITEX Global 2022
MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer received Consul-General of Canada to Dubai...
Business
UAE to launch new integrated ‘EmaraTax’ platform later this year
Dubai, UAE---The UAE Federal Tax Authority (FTA) has announced that the new "EmaraTax" integrated platform will be launched later this...
Economy
Most Read
Economy
Unemployment Insurance Scheme comes into force in UAE
The Ministry of Human Resources and Emiratization (MoHRE) of UAE announced that an 'Unemployment Insurance Scheme' for employees of the...
- The insured will be compensated with cash for a specific period of time if they lost their job until they find another employment
- The compensation will be paid monthly, calculated at 60 percent of the employee’s subscription salary.
Arts & Culture
Forum to discuss state of translation in Arab world at Cairo varsity
Riyadh, Saudi Arabia--The 10th Scientific Forum of translation themed “Time Differences between Composition and Translation in the Arab World” will...
- The forum is being held on the occasion of the awarding ceremony of the King Abdullah bin Abdulaziz International Prize for Translation.
- It aims at highlighting and advancing the effective means in supporting translation projects.
Business
QNB posts 7% rise in profit
Its net profit for the first nine months of the year was $3bn.
- QNB has been subject to hyperinflationary accounting requirements since the second quarter of 2022 for its Turkey operations
- The Doha-based lender’s operating income increased 24 percent year-on-year to $7.03 billion