Najran extends MoU with Ayan for Commerce & Industry
Jeddah, Saudi Arabia - Saudi Arabia's Najran Cement Company has announced the extension of its non-binding memorandum of understanding (MoU)...Business
Saudi insurance sector shows 14.6 percent growth in Q3 of 2023
RIYADH, SAUDI ARABIA- The Insurance Authority (IA) has issued its first report on the performance of the sector in the...Business Banking & Finance
SEDCO Capital, Lombard Odier launch Shariah-compliant fund
The Fund's composition reflects a convergence of SEDCO Capital's Prudent Ethical Investment (PEI) approach with Lombard Odier's investment expertiseThe Fund's composition reflects a convergence of SEDCO Capital's Prudent Ethical Investment (PEI) approach with Lombard Odier's investment expertise
The Fund aims to deliver capital growth through an active asset allocation strategy with the goal of outperforming the Dow Jones Islamic Market World Developed Total Return Index
ACWA Power final IPO price nearly $15 per share, targets raising $1bn
The company expects to raise more than $1 billion from the public offering, valuing the company at about $10 billion.Retail offering started on Wednesday and will run until Oct. 1
ACWA is considering issuing green bonds in 2022 and beyond to raise funds for some renewable energy projects.
Elon Musk wants US regulators to let cryptocurrency ‘fly’
Los Angeles: Tesla chief executive Elon Musk thinks US regulators should take cryptocurrency out of their crosshairs, leaving it free...China's central bank last week said all financial transactions involving cryptocurrencies are illegal.
Tesla early this year announced it had bought $1.5 billion worth of Bitcoin.
Tariq Al Samahiji CEO of GFH Group’s UK ops
Al Samahiji is the non-executive chairman and co-founder of Orpheus Partners.He served as CEO of BNP Paribas Najmah and Global Head of BNP Paribas Islamic Finance and Investments.
GFH said it currently has assets of over $12 billion globally and looks to build its international portfolio through organic and inorganic growth.
DEWA partners with Global Manufacturing and Industrialisation Summit
DEWA has implemented Fourth Industrial Revolution technologies, such as Artificial Intelligence, Cloud Computing and the Internet of Things to drive...DEWA and GMIS will collaborate to promote the use of advanced energy-saving innovations
The collaboration will enable greater synergy between utility providers and industrial enterprises to eliminate energy wastage
OPEC sees oil demand growing over next two decades
The cartel's world oil outlook goes against the vision of the International Energy Agency, which warned in May that demand...Developing countries will fuel demand while it will begin to fall in wealthier nations from 2023, said OPEC.
The OPEC report comes as Brent crude oil prices jumped above $80 per barrel for the first time in almost three years.
Saudi Arabia digitizes 50m realty papers under National Transformation Program
Saudi Arabia has managed to digitize some 50 million real estate documents under the Real Estate Title Digitization Initiative. It...The central digitization labs work around the clock and are the largest of their kind in the MENA region
The digitization process goes through several steps: listing and collection of documents, entry and revision, transfer to digitization labs, sterilization and restoration
Meetings with Syria should translate into projects: Jordan PM
He said the projects should benefit the two countries and cement a historical brotherhood bonding them.A Syrian delegation in Jordan has held a series of meetings with its Jordanian counterparts over the course of two days
It reviewed the outcome of discussions with the Jordanian ministers in the areas of transport, intra-trade, water, agriculture and energy
Ukraine looks to bolster investment cooperation with GCC, especially Kuwait
Ukraine is looking to bolster investment cooperation with the Gulf Cooperation Council (GCC) countries, especially Kuwait.Ukrainian Deputy Foreign Minister Dmytro Kuleba said that the Ukrainian government has recently enacted many pieces of legislation targeting holistic economic reforms
The Ukrainian official hoped that Kuwaiti companies would join the execution of these strategically significant projects in Ukraine
Kuwait, China keen on institutional framework
The Consul General of Kuwait in Shanghai, Mishal Al-Shamali, during a meeting with Shanghai Deputy Mayor Zhong Ming, said that...The framework is needed to start implementing the agreements concluded between the two countries
This will help develop and strengthen bilateral ties between Kuwait and China in the upcoming years
