Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
Business
Saudi Arabia’s Purchasing Manager’s Index rises to 57.2 points in Feb
RIYADH, SAUDI ARABIA - The seasonally adjusted Riyadh Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
Economy
Business
Kazakhstan eyes energy takeovers after blackouts, ‘mismanagement’
ALMATY, KAZAKHSTAN - Kazakhstan warned Monday it could nationalize struggling energy companies in the oil-rich Central Asian country after the...
- Kazakhstan is a net exporter of energy, but high gas prices this year fueled historic and bloody protests.
- Last month, Kazakh authorities said 65 percent of regional electricity networks needed repair.
Business
ADIB enables digital solutions to support UAE IPOs’ push
ABU DHABI, UAE - Abu Dhabi Islamic Bank (ADIB) announced that its retail customers were able to conveniently participate in...
- ADIB said that 80 percent of clients subscribed to IPOs that were issued in 2022 through ADIB Mobile app.
- ADIB is providing a quick and easy end-to-end process for IPOs subscriptions through mobile app.
Business
Third Saudi Cruise Season begins as MSC Splendida arrives in Yanbu Port
Riyadh, Saudi Arabia--- Yanbu Commercial Port has officially kickstarted the third edition of the Saudi cruise season by berthing MSC...
- MSC Splendida, which arrived from Jeddah Islamic Port, marked the maiden cruise call for the current season that will run until May 2023.
- Cruise Saudi, a PIF-owned business that oversees the development of the local cruise ecosystem, is trying to position the Kingdom as a premier global cruise destination.
Business
Abu Dhabi Airports announces 4.7m passenger traffic in Q3 2022
ABU DHABI, UAE - Abu Dhabi Airports Monday said that in Q3 2022 passenger traffic totaled 4.7 million passengers, a...
- Abu Dhabi International Airport handled 144,083 tonnes of air freight in Q3 2022.
- Third-quarter statistics confirm that 49,046 Air Traffic Movements (ATMs) were recorded across the five airports.
Arts & Culture
‘Dai Gallery’ for Arab artists kicks off in Cairo with Qatari participation
The month-long exhibition includes works by 142 Arab artists in photography, painting, sculpture, and graphics.
- The month-long exhibition includes works by 142 Arab artists in photography, painting, sculpture, and graphics
- A symposium on Arab plastic art will take place on the sidelines of the exhibition, with the participation of a group of artists and critics
Economy
Qatar’s records trade balance surplus of $6.8 billion in Oct 2022
Doha, Qatar---Qatar's merchandise trade balance recorded a surplus of QR 25.1 billion ($6.8 billion) in October this year, an increase...
- The trade balance, which is the difference between total exports and imports, however, decreased by 6 billion riyals, or 19.2 percent, compared to September 2022.
- Merchandise imports increased to about QR 12.9 billion, an increase of 45 percent compared to October 2021, and an increase of 14.3 percent compared to September.
Geostrategy
Tehran protests after US football body posts modified Iran flag
Iran has seen more than two months of demonstrations sparked by the death in custody of 22-year-old Kurdish-Iranian woman Mahsa...
- Iran will face the United States in their final Group B game on Tuesday, when a win would put them through to the last 16
- Iran's supreme leader Ayatollah Ali Khamenei said Saturday that negotiating with the United States would not put an end to the "troubles"
Geostrategy
Turkish, Egyptian ministers to meet to build ties: Erdogan
Erdogan and Egypt's President Abdel Fattah al-Sisi shook hands last week in Qatar, signalling a fresh beginning in their ties.
- Erdogan and Egypt's President Abdel Fattah al-Sisi shook hands last week in Qatar, signalling a fresh beginning in their ties
- Relations between Ankara and Cairo have been strained ever since Mohamed Mursi of the Muslim Brotherhood, who was firmly backed by Erdogan
Economy
Jordan makes two big seizures of captagon pills on Syrian border
Amman, Jordan— Jordan has seized a big haul of drugs being smuggled into the kingdom from Syria in two different...
- Border guards at the Jaber border crossing, Jordan’s main border crossing with Syria, on Sunday seized 10,000 Captagon pills and 1 kg of crystal meth hidden inside a truck
- A day earlier the Eastern Military Zone in Jordan seized 564 palm-sized sheets of hashish, 20,000 Captagon pills, a Kalashnikov rifle and ammunition
Economy
AMF signs US$1bn agreement to shore up Yemeni government reforms
Riyadh, Saudi Arabia—The Arab Monetary Fund has signed a $1 billion agreement with the Yemeni government to shore up the...
- The program seeks to contribute to backing efforts made to implement reforms to strengthen the financial status of the Yemeni government,
- It seeks to promote comprehensive and sustainable economic growth, create job opportunities and push sustainability of Yemen's economy
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
Business
Company News
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Earth to warm up to 2.9C even with current climate pledges, says UN
PARIS, FRANCE - Countries' greenhouse gas-cutting pledges put Earth on track for warming far beyond key limits, potentially up to a...
Geostrategy
ACWA Power starts commercial ops at phase 2 of Dubai’s Noor Energy
RIYADH, SAUDI ARABIA – ACWA Power Co said it received the initial commercial operation certificate from the Dubai Electricity & Water Authority...
Business
48,616 firms register with Dubai Chamber of Commerce in January-September 2023
DUBAI, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has...
Business
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Economy
Dubai Customs logs 13% growth in transactions in first nine months of 2023
DUBAI, UAE – Dubai Customs has experienced a robust 13 percent increase with 21.6 million transactions during the first nine...
- The upswing aligns with the targets of Dubai’s economic agenda D33, which seeks to double foreign trade.
- By the end of the third quarter of 2023, Dubai Customs had processed approximately 18.8 million customs declarations.
Geostrategy
Israel police claim Hamas was not aware of a music festival on October 7
DUBAI - An investigation carried out by Israeli police has concluded that Hamas, involved in the October 7 attack, had...
- The police probe revealed that an Israeli military helicopter arrived at the scene and opened heavy fire.
- The development comes as Israel revised the official death toll of the October 7 attacks, lowering the figure to around 1,200 people.
Business
NBM’s board approves increasing Murabaha sukuk issue to $133m
RIYADH, SAUDI ARABIA - National Building and Marketing Co’s (NBM) board of directors approved an increase of Murabaha SAR-denominated sukuk...
- The move aims to boost the company's capital expansions and working capital, the company said in a statement.
- The sukuk issue was amended from a private placement to a public offering, the company said.