Central Bank of Bahrain treasury bills oversubscribed by 149 percent
MANAMA, BAHRAIN - This week’s BD 70 million (US$186 issue of Government Treasury Bills has been oversubscribed by 149 percent....
Business
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
Business
UAE ministry signs pact with ADDED and ADNOC to promote Emirati products
The Ministry of Industry and Advanced Technology (MoIAT) and Abu Dhabi’s Department of Economic Development (ADDED) will work on proposing...
- MoU part of a program aimed at redirecting above 42 percent of public-sector and select private-sector expenses towards local suppliers.
- The pact is in line with the objectives of the National Strategy for Industry and Advanced Technology, Operation 300bn.
Business
SIDF and Al Rajhi team up to boost industries growth
The Saudi Industrial Development Fund (SIDF) has teamed up with Al Rajhi Bank to provide a documentary credit service.
- The documentary credit service enables investors to obtain the necessary liquidity to implement projects and to speed up project implementation procedures
- The fund aims at stimulating the growth of national industries through the partnership with the private sector
Geostrategy
Hundreds of migrants try to cross EU border despite easing of crisis
Polish border guards said there were attempted crossings by two groups on what is the eastern border of the European...
- Belarus said Thursday that there were a total of around 7,000 migrants in the ex-Soviet country.
- Hundreds of Iraqis who had failed to cross into the EU from Belarus returned home on Thursday.
Business
ENOC Group and Air Chateau sign pact
Under the agreement, ENOC will fuel up to 30 helicopters of Air Chateau.
- Air Chateau offers charter and transportation services to tourists, high net worth individuals and air ambulances.
- ENOC Aviation's current supply network spans over 200 airports across 21 countries.
Business
Nayifat Finance to trade on Tadawul
Nayifat Finance Company (NFC) will start trading on Tadawul on November 22, according to a Saudi Exchange filing.
- The stock will have +/- 30 percent daily price fluctuation limits and +/- 10 percent static price fluctuation limits
- These fluctuation limits will be applied during the first three days of listing, and from the fourth trading day onwards
Economy
UN warns high shipping cost to spike global inflation by 1.5%
The UN Conference on Trade and Development (UNCTAD) has warned that the rising shipping prices could spike global inflation by...
- The current price to ship a 40-foot container unit from China to the US is now 348 percent higher than the pre-pandemic average
- The UN calculates that a global drive to vaccinate people against coronavirus can go a long way to ameliorate the current shipping crisis
Economy
$1.6bn Saudi initiatives to boost local manufacturing
Saudi Arabia has unveiled two initiatives to help the country boost its production and manufacturing.
- The National Industrial Development and Logistics Program has launched the initiatives along with the Riyad Bank
- The two schemes are called "We finance, you manufacture" and "We invest, you manufacture"
Business
Experts discuss market opportunities at DMCC Dubai Precious Metals Conference
The sector leaders addressed key trends within the global precious metals industry and how to harness current opportunities.
- The sector leaders addressed key trends within the global precious metals industry and how to harness current opportunities
- The session, held under the title ‘Gold versus Bitcoin: competition or coexistence?’, highlighted bitcoin’s growing status as ‘digital gold’
Geostrategy
Saudi Arabia, Bahrain activate e-connection for health passport
The two countries signed a Memorandum of Understanding in this regard in Riyadh on Thursday, November 18.
- The signing of the MoU is expected to enable the integration of the health passport with the Saudi Tawakkalna and BeAware Bahrain apps
- It will therefore facilitate the movement of passengers between the two countries through the King Fahd Causeway
Geostrategy
UAE, Israel sign MoU in educational affairs
The MoU was signed under the framework of the Abraham Accords Peace Agreement signed between the UAE and Israel last...
- The MoU was signed under the framework of the Abraham Accords Peace Agreement signed between the UAE and Israel last year.
- The two sides also addressed their ongoing bilateral ties in the education sector and other areas of cooperation
Central Bank of Bahrain treasury bills oversubscribed by 149 percent
MANAMA, BAHRAIN - This week’s BD 70 million (US$186 issue of Government Treasury Bills has been oversubscribed by 149 percent....
Business
Company News
Latest News
S&P says UAE non-oil economy posts growth in September
S&P Global's latest data reveals that the UAE has recorded a strong growth in business across the non-oil economy even...
Economy
Jordan king discusses trade, regional issues in talks with Oman sultan
The two leaders focused on maintaining coordination and consultation on various issues of mutual concern, especially food security and energy.
Geostrategy
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Economy
DMCC, Fresh Water Norway partner to expand water supply chain
The collaboration could see a staggering one billion litres of natural drinking water flow through Dubai every year, over a...
- The collaboration could see a staggering one billion litres of natural drinking water flow through Dubai every year, over a period of 50 years
- Fresh Water Norway will be able to avail of DMCC’s services, global connections and network across supply chains and its ability to drive trade flows through Dubai
Economy
Saudi Arabia’s non-oil economy is growing: S&P
Although the PMI in August was 57.7, the kingdom has maintained steady growth for the 25th consecutive month.
- Although the PMI in August was 57.7, the kingdom has maintained steady growth for the 25th consecutive month
- Readings above 50 indicate expansion, while readings below 50 indicate contraction, according to S&P Global
Investigation
Exclusive: ‘Cheerleaders’ hired to clap during FIFA Cup
Young Arab boys and girls from countries such as Lebanon are being flown to Qatar and paid $800 to cheer...
- Young Arab boys and girls from countries such as Lebanon are being flown to Qatar and paid $800 to cheer during the upcoming World Cup, TRENDS Investigation reveals
- Whoever had a valid passport and got three doses of Covid-19 vaccination jumped on the ‘clapping’ bandwagon, one of the clappers flying to Qatar tells TRENDS