UAE delegation explores investment opportunities in US
“The United States is a long-standing trade and investment partner for the UAE – and an important ally in the...
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Sukuk worth $174.6 billion issued globally in 2020
Sukuk has remained an attractive instrument and the positive growth trajectory has continued during the first half of 2021
- The report said that as of December 2020, over 90 percent of the $648 billion Sukuk outstanding globally were issued from markets like Malaysia, UAE and the others
- Sukuk has remained an attractive instrument and the positive growth trajectory has continued during the first half of 2021
Iraq looks up to IMF for $4bn loan
Iraq is confident about securing a $4 billion dollar loan from the International Monetary Fund (IMF) after it restarted talks...
- International Monetary Fund and Baghdad opened talks last year amid the pandemic as demand shock sent oil prices tumbling
- Iraq also expected to sign agreement with French oil and gas company before current government’s term ends
Saudi Arabia gets a pat on the back from US
Saudi Arabia has received warm praise about its improved rankings on a number of global lists from the US State...
- It highlights the great progress made by the kingdom in its ‘investment and business climate’ over the past two years
- Efforts to provide more jobs for Saudis and diversify the economy raised some concerns in the annual Investment Climate Statements
Israeli foreign minister to visit Morocco
Morocco was one of four Arab states to agree last year to normalize ties with Israel, along with the United...
- Lapid’s visit comes after the first direct commercial flights between Israel and Morocco were launched in July
- Morocco was one of four Arab states to agree last year to normalize ties with Israel, along with the United Arab Emirates, Bahrain and Sudan
G7 blames Iran in deadly tanker attack, US releases ‘evidence’
The UN Security Council also agreed to discuss the incident off the coast of Oman on Monday
- The UN Security Council also agreed to discuss the incident off the coast of Oman on Monday
- Iran has strongly denied having any link to the attack on the M/T Mercer Street
Burj Khalifa advertises upcoming Netflix series Navarasa
The world’s tallest building has over the years been used to promote quite a few films and film stars from...
OIC panel urges cooperation in post-Covid affairs
Member states urged to work alongside regional and international stakeholders to devise people-centered policies.
- Member states urged to work alongside regional and international stakeholders to devise people-centered policies.
- Stress laid on cooperation with political, religious, and community leaders to foster universal human rights values.
Egypt to have covid vaccine galore
Egypt will have Covid vaccines galore as it is set to receive shipments of AstraZeneca’s and J&J’s vaccines next week....
- Johnson & Johnson vaccine is being provided in cooperation with the African Union
- As part of the health ministry's plan to expand the provision of vaccines, it is scheduled to receive the Pfizer vaccine later this month
SABIC’s net profit shoots up to 2.04bn
Saudi Basic Industries Corp. (SABIC) has reported a big jump in second-quarter profit as it sold more chemicals at higher...
- Net profit jumped 57 percent to $2.04 billion in Q2
- Selling prices increased 10 percent, sales volumes rose 3 percent
Business
Airlines suffer $126.4bn loss amidst Covid-19
Airlines across the world took a heavy beating from the Covid pandemic lockdown, posting on the whole net losses to...
- IATA said passenger numbers were down 60 percent year-on-year
- The Middle East was the worst impacted, with a 67.6 percent fall in passenger numbers compared to Asia-Pacific, the least impacted with a decrease of 53.4 percent
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Palms Sports wins its biggest contract
The 30-month UAE government contract is worth $83.31m.
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Real estate deals worth $381 million recorded in Dubai Tuesday
Dubai real estate market recorded deals worth AED1.4 billion ($381 million) on Tuesday, including 387 sales transactions worth AED1.15 billion....
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Seera sees 43% slide in loss
The Saudi travel group saw its loss fall to $35m in H1.
- The travel agency's gross booking value climbed up 105 percent on the year to $1.09 billion, and revenue was up 125 percent to $282 million
- Almosafer, its travel business, bounced back with increased demand in the second quarter along with a gross booking value of $453 million
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BinDawood’s H1 profit tumbles
Largest Saudi retailer posts a 31% dip in H1 profit to $28.80m.
- The company's board proposed a half-year cash dividend payout of $27 million at SR0.9 per share
- Its sales and revenues surpassed $640 million during the first half of the current year
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Al Akaria posts profit in H1
The developer's profit rose to $4.3m, after last year's loss.
- Shored up by a 152 percent jump in revenues, the company's stock price climbed up as it returned to profitability,
- The developer also incurred less expenses during the six-month period, thanks to a drop in selling and marketing costs by $320,000