IMF approves $5bn under flexible credit line for Morocco
Washington, USA - International Monetary Fund (IMF) approved SDR 3.7262 billion ($5 billion) on a two-year arrangement for Morocco under...
Economy
Fewer restrictions, fast vaccination give Dubai edge in events sector
The emirate plans to host one of the biggest gas conferences and an African investor summit this year Dubai aims...
GCC-UK Trade Summit 2021 to boost trade, investment
Virtual event promises to catalyze a new era of economic collaboration Day-long summit will host discussions featuring high-profile investors from ...
Egis names Bob Hope as MD for Saudi Arabia
Hope brings over 15 years of experience in the region to Egis Globally, Egis has around 16,000 professionals generating over...
Blue hydrogen market will only take off after 2030: Aramco tech chief
Aramco tech chief says blue hydrogen production can’t be scaled up before 2030 He believes it works very similar to...
US strikes Iran-backed militia groups in Iraq, Syria
Strikes are authorized by President Joe Biden following ongoing attacks on US interests The strikes come one day after Iraqi...
46% UAE consumers expect effects of pandemic to last another year
Increased vaccinations, protective measures, contactless in-store experience key to rebuilding UAE consumers' confidence 73% of consumers admit to have changed...
Volkswagen to stop sale of combustion engines in EU by 2035
The EU will unveil tougher 2030 CO2 emissions targets and regulatory proposals on July 14 The firm says it will...
Effort to merge paramilitary into army hobbles Sudan’s transition
The Rapid Support Forces (RSF) were formed in 2013 to crush rebels fighting Omar al-Bashir's government The RSF largely drew...
‘Internet Monsters’ to raise awareness on child safety online
The online campaign is based on classic fairytales to which modern cyber twists have been added to portray what occurs...
UAE Egypt’s top trading partner in Middle East with $4.11 billion trade
The UAE is also the largest foreign investor in Egypt, as it contributes to projects with capital exceeding $7bn Egypt’s...
Company News
Savola Foods buys Egybelg
Business
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DGCX licensed brokerage firms can now become DFM derivatives members
Dubai Financial Market (DFM) said Monday that it has obtained the approval of the Securities and Commodities Authority (SCA) to...
Business
Oil prices fall as Aramco signals plan to raise crude production
Oil prices slipped in Asian trade, with both main contracts down around two percent as the stuttering Chinese economic recovery...
Economy
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Economy
Saudi economy, GDP see upswing in H1 2022
Real GDP increased at a growth rate of 11.8% in Q2 2022, driven by the significant increase in oil activities...
- The report says Saudi Arabia's economy and GDP are on an upswing due to several factors
- Even the World Economic Outlook July 2022 projected the Kingdom to record highest GDP growth among G20 countries.
IGCF 2022 to be held on September 28, 29
The forum will analyse the socioeconomic and community trends that will determine the next stage of government communications regionally and...
- The forum will analyse the socioeconomic and community trends that will determine the next stage of government communications regionally and around the world
- It will also spotlight the latest tools and methodologies governments can leverage to communicate with the public during unforeseen or unusual circumstances
Business
Halwani Bros’ profit falls by 65%
The profit fell to $5m in HI due to rising cost of raw materials.
- The food company said the devaluation of the Egyptian currency also weighed on profits from its subsidiary in Egypt
- The rising raw material costs and increased marketing costs due to global inflation were also responsible for weaker financial results