Ukraine ‘satisfied’ with Saudi-led mediation to end war
Russia, which was not invited to the summit, said that a resolution was possible if Ukraine "stopped the hostilities and...
Geostrategy
Brazilian-Saudi Investment Forum witnesses inking of 25 MoUs
SAO PAULO, BRAZIL - The Ministry of Investment organized here the Brazilian-Saudi Investment Forum, which saw the signing of many...
Business
Business
Al Rajhi Bank’s net profit vaults 44% to $2.86bn
Al Rajhi Bank of Saudi Arabia posted a 44 percent rise in net profit to $2.86 billion for the first...
- The higher net profit for Q3 2021 is spurred by 43 percent year-on-year to SR 3.794 billion, compared to the third quarter of 2020
- The bank attributed the profit increase to the rise in total operating income by 26.4 percent, as a result of higher net financing and investment income
Business
Saudi National Bank posts 20% jump in net profit to $1bn
Saudi National Bank (SNB), the kingdom’s biggest lender, has posted a nearly 20% jump in net profit to $1 billion...
- SNB reported a net profit of 3.8 billion riyals ($1.0 billion) for the quarter that ended on Sept. 30, up from 3.2 billion riyals in the same period a year earlier
- The result was better than the 3.6 billion riyals average analysts' forecast
Business
VPS behind T20 bio-bubble
There will be over 2,200 people in the bio-bubble this time.
- The ICC World Cup T20 bio-bubble will consist of players, supporting staff and their families, and broadcast crew
- There will also be BCCI and International Cricket Council officials, staff at the hotel and stadium, and selected medical personnel
Business
Abu Dhabi launches virtual license for non-resident investors
The virtual license covers 13 economic sectors on top of the strategic sectors targeted by the Abu Dhabi government to...
- The program lets non-resident foreign investors obtain an economic license for doing business in the emirate
- They can now do this without any prior residence procedures and from any location outside the UAE
Economy
Dubai approves Hatta master development plan
The Hatta master development plan is said to be aimed at developing Hatta, an exclave of Dubai, into a tourist...
- The Hatta plan is a part of the Dubai 2040 Urban Master Plan, which aims to create a roadmap for enhancing infrastructure
- The master plan also aims to implement development projects and initiatives across the emirate over the next 20 years
Business
Electrified cars hit almost a fifth of EU Q3 vehicle sales
At least one in five vehicles sold in the European Union (EU) in the third quarter of the current fiscal...
- Battery electric vehicle sales jumped nearly 57 per cent to more than 212,000 units, while plug-in hybrid models rose nearly 43 per cent
- This is a slower pace of growth than in 2020 when sales almost trebled from a low base
Economy
Lebanon needs $1bn for local currency to regain value: Minister
Lebanon’s Information Minister George Kordahi has said that the country needs $1 billion to bring up the value of the...
- The World Bank has described Lebanon’s economic crisis as possibly among the three worst of its kind across the globe
- Since 2019, the Lebanese pound has lost more than 90 percent of its purchasing power, and now more than three out of every four citizens live in poverty
Business
Bavarian & DEWA discuss renewable energy collaboration
They also discussed boosting relations, and interchanging knowledge with German businesses.
- DEWA and Bavarian officials met to discuss partnership in clean energy
- By 2050, Dubai plans to fulfill 75 percent of its energy requirements through renewable sources
Economy
Jordan taps FAO to support rural families with agriculture festivals
The FAO and Jordan’s National Center for Agricultural Research have signed a cooperation agreement in this regard.
- The FAO and Jordan’s National Center for Agricultural Research have signed a cooperation agreement
- As part of the agreement, they are expected to organize festivals for Jordan's agricultural products to empower rural families and farmers
Business
Combat Field: a gamer’s paradise at Riyadh Season
Among many attractions of Riyadh Season is Combat Field for fans of war and combat games. It simulates the reality...
- The total area of the Combat Field area situated in "Janadriyah" northeast of the capital, Riyadh is about 310,000 square meters
- Also, the Combat Field area includes a weapons museum, 5 exhibitions for the sale of ammunition, weapons and accessories, as well as live shows of fighting robots
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Ukraine ‘satisfied’ with Saudi-led mediation to end war
Russia, which was not invited to the summit, said that a resolution was possible if Ukraine "stopped the hostilities and...
Geostrategy
Company News
Latest News
Borouge to pay dividend of $325m
This is the first payment of the total $975m dividend for 2022.
Business
Central Bank of Egypt keeps interest rates unchanged
The Central Bank of Egypt also decided to increase the required reserve ratio to 18 percent from 14 percent
Economy
UAE signs cooperation pact with Ethiopia on extradition, legal assistance
Abu Dhabi, UAE - The UAE signed agreements on extradition and mutual legal assistance in criminal matters with Ethiopia. The...
Geostrategy
Most Read
Business
Saudi-UAE non-oil trade increased by 92.5 percent in past decade
The value of non-oil exports from the UAE to Saudi Arabia over the past ten years was around AED205.5 billion,...
- By end of 2012, the value of non oil trade between the two countries was AED 64.8 billion ($17.65bn)
- The trade exchange between the two countries in the first half of 2022 totaled AED65.7 billion ($17.9bn)
Business
Dana Gas to pay $85m H1 dividend
The dividend of 4.5 fils per share will be paid by 21 Oct.
- The company posted a net profit of $111 million in the first six months of the year, an 82 percent increase compared to an adjusted net profit in H1 2021.
- The company’s profitability in the first half of 2022 was driven by elevated hydrocarbon prices,
Business
Dubai records realty transactions worth $299 million Thursday
Dubai, UAE-- Dubai real estate market recorded realty transactions worth AED1.1 billion ($299 million) on Thursday, Dubai Land Department said....
- The deals included 371 sales transactions worth AED825.36 million, in addition to 81 mortgage deals of AED231.57 million, and 18 gift deals amounting to AED48.1 million.
- The sales included 334 villas and apartments worth AED626.55 million, and 37 land plots worth AED198.81 million.