Salini awarded $600m contract for 400 retail units in Diriyah Square
Riyadh, Saudi Arabia -- Diriyah Company has announced the award of a major new $600 million (SAR2.249 billion) contract for...
Business
Iran voices ‘serious doubts’ over Israel’s commitments, including the ceasefire
Iran also writes to the UN chief to recognize the Israeli regime and the United States as the "initiators of...
Geostrategy
Infographics
Will Gulf economies expand despite global woes?
Thanks to a strong rebound in domestic activities and higher oil prices, the latest IMF report suggests the GCC economies...
- Thanks to a strong rebound in domestic activities and higher oil prices, the latest IMF report suggests the GCC economies to expand further than previously expected.
- In 2023, the UAE economy will grow 4.2 percent, outpacing Saudi Arabia (3.7 percent), Bahrain (3 percent), Oman (4.1 percent), Kuwait (2.6 percent), and Qatar (2.4 percent)
Geostrategy
Commemoration Day enhances loyalty to nation, says UAE President
ABU DHABI, UAE - President Sheikh Mohamed bin Zayed Al Nahyan has said that November 30 is a day that...
- In a statement to mark Commemoration Day, Sheikh Mohamed spoke of the UAE's admiration and respect for those who gave their lives.
- Sheikh Khalifa bin Zayed Al Nahyan designated November 30 as a day to salute the precious sacrifices of the nation's martyrs.
Business
DIEZ posts 42% revenue jump
Its earnings grew by 17 percent in H1 of 2022.
- The results, according to the company, confirm that the DIEZ benefited from integrating returns on investment
- The increase in commercial licences and government services amounted to 49 percent
Science
All regions experienced water extremes in 2021, says UN
GENEVA, SWITZERLAND - All regions of the world saw water extremes last year - both floods and droughts - and...
- Large areas of the planet recorded drier than normal conditions in 2021, the UN's World Meteorological Organization said.
- Some 3.6 billion people face inadequate access to freshwater at least one month per year.
Economy
EU spent €15.2bn on imports of green energy products last year
The trading bloc also exported green energy products worth €6.5 billion to countries outside the EU.
- The trading bloc also exported green energy products worth €6.5 billion to countries outside the EU
- The EU imported €11.2 billion worth of solar panels and €3.4 billion worth of liquid biofuels from countries outside the bloc
Economy
GCC banks earned $18.6bn in interest income in Q3: Kamco
During Q3-2022, non-interest income declined to a four-quarter low of $7.4 billion as compared to $7.8 billion during Q2-2022.
- During Q3-2022, non-interest income declined to a four-quarter low of $7.4 billion as compared to $7.8 billion during Q2-2022
- The aggregate GCC gross banking loans reached a new record of $1.93 trillion, increasing by 1.2 percent or $23.5 billion during the quarter
Business
Aldar partners with Nobu to develop luxury hotel on Saadiyat Island
Abu Dhabi, UAE— Aldar Properties has partnered with Nobu Hospitality to launch a new luxury hotel, branded residences, and a...
- The agreement will see Aldar develop the 5-star hotel featuring 165 luxurious guest rooms and suites, including the stunning rooftop Nobu Villa
- The planned development includes the first branded Nobu Residences in the Middle East and the second worldwide, offering high-end, multi-bedroom sea view residences
Economy
Kuwait Central Bank Issues Bonds, Tawarruq worth $792 million
The new securities bear a maturity term of six months and a return rate of 4.25 percent.
- The new securities bear a maturity term of six months and a return rate of 4.25 percent.
- Earlier on November 2, the Central Bank of Kuwait held its policy rate at 3 percent
Business
Americana revises timetable for concurrent dual listing on ADX, Saudi Exchange
The UAE Retail Offer and the KSA Retail Offer were oversubscribed by approximately 48.2x and 2.8x respectively.
- The UAE Retail Offer and the KSA Retail Offer were oversubscribed by approximately 48.2x and 2.8x respectively
- The institutional offer was oversubscribed 65.5x, resulting in an aggregate oversubscription level of 58x
Geostrategy
European Education Area to take EU-UAE learning cooperation to the next level, says top official
It will open opportunities for Emirati youth to study in European Union, further strengthening the existing people-to-people ties, adds Margaritis...
- The European Education Area offers a potential multi-level cooperation between the European Union and the United Arab Emirates, said a top EU official
- It will open opportunities for Emirati youth to study in European Union, adds Margaritis Schinas, adds VP of the European Commission for “Promoting Our European Way of Life”
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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
Salini awarded $600m contract for 400 retail units in Diriyah Square
Riyadh, Saudi Arabia -- Diriyah Company has announced the award of a major new $600 million (SAR2.249 billion) contract for...
Business
Company News
Latest News
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...
Business
Palestinians count cost of Israel’s West Bank raid
Palestinians held funerals and assessed the damage of a days-long Israeli raid in the occupied West Bank, where violence has...
Geostrategy
Qatar real estate trading volume reaches US$91m between January 7-11
DOHA, QATAR - The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
Business
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Business
CBI 2023 net profit at $46.5m
The 2023 annual net profit rose 14 percent from 2022.
- The customer deposits increased from US$3.3 billion in 2022 to US$3.4 billion in 2023.
- The capital adequacy ratio increased from 14.4 percent in 2022 to 15.2 percent in 2023.
Geostrategy
EU worried Red Sea attacks could spark inflation
European Union economy commissioner Paolo Gentiloni warned that violence in the Red Sea sparked by Houthi attacks on shipping could...
- Gentiloni said that "what is happening in the Red Sea... is not for the moment apparently creating consequences on energy prices and inflation".
- Tensions in the Red Sea have soared after the United States and Britain carried out strikes on Houthi rebels in Yemen.
Business
Mammoet, Aertssen sign agreement
The two firms will provide heavy-lifting solutions in Qatar.
- Mammoet said in a statement that the collaboration will "capitalize on the individual strengths and capabilities of both companies".
- The solutions range from small mobile cranes for quick operations to complex engineered heavy lifting and transport projects.