Dubai Investments net rises to $157m
Real estate sector remains one of the key business verticals.
Business
Economy
Lebanon to soon give medicines for chronic, incurable disease for free
The Lebanese central bank has opened a credit line of $60 million for medicine importers.
- Around three-fourth of Lebanon now lives in poverty because the Lebanese pound has lost more than 90 percent of its value since November 2019
- As a result, there have been massive shortages of commodities like fuel, medicine, and even food
Business
DP World reports container volume growth of nearly 12 percent in Q3
The gross volume growth was mainly driven by Asia Pacific, India, Australia, and the MENA region.
- In Q3, DP World handled 19.8 million TEU, up 8.1 percent year-on-year basis.
- The near-term outlook remains positive, but the company expects growth rates to be moderate in the final quarter, said CEO Ahmad Bin Sulayem.
Business
Saudi-Swiss investment to touch $3.2bn by 2030
The Saudi-Swiss Investment Forum aims to touch $3.2bn of financing by 2030. The body, launched on 25 October in Riyadh,...
- Khalid Al-Falih, minister of investment, said the country’s plan is to make Saudi Arabia the most important export destination for Swiss companies
- He added that kingdom’s investment strategy has several key aims it plans to reach by 2030, including doubling annual domestic investment to 9 percent of gross domestic product
Business
IsDB lists sukuk on Nasdaq Dubai
The $1.7bn listing strengthens its position as the largest Sukuk issuer on the bourse.
- The listing strengthens the IsDB’s position as the largest supranational Sukuk issuer on Nasdaq Dubai with a total value of $18.8 billion
- The bell-ringing ceremony was attended by Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of the Dubai Financial Market (DFM)
Business
16 firms selected for Qatar FinTech Hub’s incubator and accelerator programs
Qatar FinTech Hub was launched by Qatar Development Bank (QDB) with the support of Qatar Central Bank (QCB) to develop...
- The Wave 3 of the program will run until Dec. 2021. QFTH will provide training and mentoring services.
- The six mature FinTechs that have joined the Accelerator program are based in India, Sudan, Malaysia and Indonesia.
Business
UAE credit card applicants to get pre-approved status online
The UAE’s Al Etihad Credit Bureau has joined hands with online financial aggregator Policybazaar UAE to implement real-time eligibility checks...
- The three-digit AECB credit score indicates how likely customers are to fulfill their payment obligations on time based on their past behavior
- Maintaining a good credit history allows customers to avoid higher interest rates and credit refusals
Science
TII of Abu Dhabi partners with top institutes on mesh projects
Technology Innovation Institute (TII) has announced that its Secure Systems Research Centre (SSRC) has partnered with three universities on secure...
- Mesh network is a network topology in which the infrastructure nodes connect directly, dynamically, and non-hierarchically to as many other nodes as possible
- The project is set to strengthen the security of the Mesh network technology that TII is currently developing
Business
Dar Al Arkan to develop $985m residential project in Saudi Arabia
The project will be developed on an area of 1 million sqm while fully respecting and preserving the topography and...
- The project will be developed on an area of 1 million sqm while fully respecting and preserving the topography and unique environmental features of Taif
- It will offer premium residential units ranging from apartments, villas, and townhouses in addition to a variety of commercial facilities and amenities
Geostrategy
Jordan, UAE, Saudi Arabia call for calm in Sudan after coup
In the wake of the military coup in Sudan, many countries of the Middle East have called for peace and...
- General Abdel Fattah Al-Burhan, the head of the military, announced the dissolution, on Monday, of the government and the Sovereign Council
- Burhan said quarrels among political factions prompted the military intervention
Business
Pyypl, Ripple launch on-demand liquidity service in Middle East
ODL uses XRP for instant, low-cost cross-border payments.
- ODL is the process of buying and selling XRP in originating and destination countries
- XRP is the native cryptocurrency of products developed by Ripple’s creator Ripple Labs
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Company News
Sharjah festival to screen films from 43 countries
Arts & Culture
Yahsat H1 revenue $206m
Business
Latest News
ADNOC Drilling H1 profit $379mn
Business
SABIC profit surges to $2.1bn
Business
UAE, UN Women discuss gender equality, empowerment
NEW YORK, US - UAE foreign minister Sheikh Abdullah bin Zayed Al Nahyan discussed enhancing the prospects of women empowerment...
Geostrategy
UAE delegation attends meetings on sidelines of UNGA session
The UAE delegation attended the fifth day of high-level meetings on the sidelines of the 77th Session of the United...
Geostrategy
‘More efforts needed for net zero carbon emissions by 2050’
More efforts are required to make the world reach net zero emissions by mid-century, according to the International Energy Agency's...
Economy
Most Read
Business
Algeria’s export of natural gas to Italy to soar 20% in 2022
Last April, Italy entered into an agreement with Algeria to increase imports through the Trans-Med pipeline.
- Data from Italy’s gas network reveals that the country has bought 20.9 bcm of natural gas from Algeria in 2021
- Since Russia invaded Ukraine, several European countries are looking for alternative energy suppliers
Saudi Arabia celebrates 92nd National Day with military parades, other festivities
Chairman of the Board of Directors of General Entertainment Authority (GEA) on September 17 launched the nine-day celebrations under the...
- Chairman of the Board of Directors of General Entertainment Authority (GEA) on September 17 launched the nine-day celebrations under the slogan, ‘This is our home.'’
- The roads and public spaces in the capital city of Riyadh and other major cities were decorated with national flags and portraits of King Salman and Crown Prince
Business
Salik IPO oversubscribed
The company raised $1.017 billion in IPO on the DFM.
- In comparison to the previously announced 1.5 billion shares, equivalent to 20 percent, the government has sold more than 1.86 billion shares of the company or 24.9 percent
- The Dubai government retains 75.1 percent of Salik’s existing share capital, which will be listed on the Dubai stock exchange on Sept. 29 under “SALIK"