Saudi leads MENA in VC funding for H1, surpassing 2024’s full-year total
Riyadh, Saudi Arabia -- Saudi Arabia retained the top spot across the Middle East and North Africa region in terms of...
Business
Dubai Islamic Bank completes $1bn sovereign financing Pakistan
Dubai, UAE -- Dubai Islamic Bank (DIB) has announced the successful completion of a landmark US$1 billion syndicated term-finance facility...
Geostrategy
Arts & Culture
Muslim World League, Columbia University launch International Religions Lab
The lab will be a global platform for research and training in protecting societies from all forms of hatred.
- The lab will be a global platform for research and training in protecting societies from all forms of hatred
- Secretary General of the MWL Dr Al-Issa said it was important to create a world of more understanding, cooperation and peace
Business
DMCC signs agreement with Poland’s KSEZ to boost business ties
Dubai, UAE— Dubai Multi Commodities Centre (DMCC) has signed an agreement with the Katowice Special Economic Zone (KSEZ) to create...
- The agreement will see DMCC and KSEZ work closely together to exchange knowledge and professional expertise, in turn further connecting the two countries’ business communities
- DMCC has played a significant role in enhancing UAE-Poland commercial relations and is currently home to over 40 leading Polish businesses
Business
Strata announces new collaboration with Pilatus
The amended framework agreement with the leading Swiss aircraft manufacturer is set to further cement the collaboration between Pilatus and...
- The amended framework agreement with the leading Swiss aircraft manufacturer is set to further cement the collaboration between Pilatus and Strata
- Strata’s operations for Pilatus will be extended to feature 3 WPs for Pilatus PC-12 and PC-24, crafted with Strata’s signature use of Carbon Fiber
Business
Cameroon has great potential for investment in prospective sectors, says UAE minister Al Zeyoudi
Some companies are already discussing investment opportunities with Cameroon, including DP World that aims to manage some ports in Cameroon...
- The UAE is one of the most significant investors in Africa, especially in sectors such as infrastructure, food security, renewable energies and communications
- The UAE's Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi is leading an Emirati delegation of business and investment leaders in Cameroon
Economy
US economy rose 2.9% in Q3, more than early report
The US economy grew more than initially reported in the third quarter this year, with government data released Wednesday reflecting...
- It has been the first GDP expansion this year, after two quarters of negative growth that deepened fears of a recession in the world's biggest economy
- The pick-up came days before midterm elections in the United States, in welcome news for President Joe Biden, but analysts have cautioned of a less rosy path ahead
Economy
ZATCA extends period of exemption of penalties for Saudi taxpayers
Saudi Arabia's Zakat, Tax and Customs Authority has extended the period of Cancellation of Fines and Exemption of Penalties Initiative...
- Saudi Arabia's Zakat, Tax and Customs Authority has extended the period of Cancellation of Fines and Exemption of Penalties Initiative for taxpayers
- Penalties included in the ZATCA initiative cover exempting taxpayers from late registration in all tax systems, late payment of fines, etc
Business
Two new unconventional nonconventional gas fields discovered in Saudi Arabia
Awtad unconventional nonconventional gas field has been discovered southwest of Ghawar field, 142 km southwest of Al-Hofuf, says Saudi minister
- The Awtad unconventional nonconventional gas field has been discovered southwest of Ghawar field, 142 km southwest of Al-Hofuf, says Saudi minister
- Prince Abdulaziz bin Salman adds that the importance of these discoveries lies in increasing the Kingdom’s natural gas reserves
Business
Aramco completes three transactions with Polish refiner and fuel retailer
As part of the transaction, first announced in January 2022, the company acquired equity stakes of 30% in a 210,000...
- As part of the transaction, first announced in January 2022, the Saudi firm has acquired equity stakes of 30% in a 210,000 barrels-per-day refinery in Gdansk
- The Saudi oil company has also bought 100% stake in an associated wholesale business; and 50% in a plane fuel marketing joint venture with BP Europa SE
Business
AMEA Power completes $1.1bn deal to deploy 1GW of energy projects in Egypt
The landmark 500 MW wind and 500MW solar projects, represent US$1.1bn of investment into the Egyptian economy and takes the...
- The landmark 500 MW wind and 500MW solar projects, represent US$1.1bn of investment into the Egyptian economy and takes the company’s clean energy portfolio to 2GW in the country
- AMEA Power will build, own and operate the 500MW solar PV plant, which will be located in the Aswan governorate of Egypt. The Project is financed by International Finance Corp
Economy
Turkey’s economy to grow 5 percent in 2022: Poll
In 2021, Turkey's economy rebounded from the COVID-19 pandemic to grow 11.4 percent.
- In 2021, Turkey's economy rebounded from the COVID-19 pandemic to grow 11.4 percent
- The Turkish Statistical Institute will announce Q3 GDP growth data at 0700 GMT on Nov 30
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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
Saudi leads MENA in VC funding for H1, surpassing 2024’s full-year total
Riyadh, Saudi Arabia -- Saudi Arabia retained the top spot across the Middle East and North Africa region in terms of...
Business
Company News
HPDC, HDC ink agreement
Business
ENEC, Kazatomprom ink pact
Business
Latest News
Mumtalakat, Investcorp ink pact
Business
Vodafone Qatar 2023 profit up
The 2023 net profit of Vodafone Qatar increased to $148 million.
Business
UAE plans to issue bonds, Sukuk valued at $1.3bn in Q1 2024, says official
HONG KONG - UAE Ministry of Finance Undersecretary Younis Haji Al Khoori announced that the ministry's issuance of bonds and...
Business
Dubai wins right to host 349 business event in 2023
DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city...
Business
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Business
Alef Group announces US$84m sales transaction at ACRES 2024
SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant...
- ACRES Exhibition is a unique global Arab platform which brings together major investors and businessmen.
- This is evident in the success achieved by the ACRES over its successive sessions since its launch in 2008.
Business
Saudi GACA issues air carrier, airport classifications for December 2023
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) issued its monthly classification index for air transport service...
- Flynas had the fewest complaints among airlines, 42 per 100,000 travelers and a complaint resolution rate of 100 percent.
- SAUDIA Airlines came second, with 61 complaints per 100,000 travelers and a resolution rate of 99 percent.
Business
Dubai posts real estate transactions worth $3.5bn in week ending January 19
DUBAI, UAE - The real estate and properties transactions valued at US$3.5 billion (AED13 billion) in total during the week...
- The sum of transactions was 3,697 and 184 plots were sold for US$547 million.
- 2,770 apartments and villas were sold for US$2 billion (AED 7.46 billion).