Dubai leads way as GCC markets show mixed results
Amid market volatility influenced by geopolitical tensions and fluctuating oil prices, pharma, insurance, and healthcare indices led with substantial gains...Business Markets
Saudi Ports Authority invests US$3.46bn in maritime and logistics sectors
Riyadh, Saudi Arabia-- The Saudi Ports Authority also known as Mawani strengthened the maritime and logistics sectors with an investment...Business
Apple’s iPhone 13 set to capture 5G potential
Apple Inc today revealed iPhone 13, Series 7 smart watch, and an iPad Mini with 5G connectivity. The iPhones will...iPhone 13 will have custom 5G antennas and radio components
The Series 7 smart watch will feature a larger display and will start at $399
ACWA Power of Saudi Arabia aims to raise $1.2bn through IPO
ACWA Power of Saudi Arabia intends to raise nearly $1.2 billion through Initial Public Offering (IPO), and in this regard...The listing will value ACWA at up to $11 billion – making it the biggest offering in Riyadh since Saudi Aramco’s listi
The firm has 64 projects in 13 countries, representing a value of $248 billion
GII of Dubai to pick stake in Saudi healthcare firm for $600m
Gulf Islamic Investments (GII) of Dubai is looking to pick up a stake in a Saudi healthcare company for $600...The UAE-based financial services firm plans $1bln expansion in the Kingdom
'We have a lot of faith in Saudi,' says the company’s co-founder Mohammed Alhassan
Kuwait partners with World Bank for development
The memorandum is said to be in line with Kuwait Vision 2035 and the national development plan 2021-2025.For Kuwait, Finance Minister and Minister of State for Economic and Investment Affairs Khalifa Hamadah signed the memorandum
World Bank’s Regional Director for Saudi Arabia and the Arab Gulf Countries, Esam Abo-Sulaiman was the co-signatory
Oman discusses investments, economic ties with Austria
The meeting was held on Monday at the premises of the OCCI in Muscat.The Oman Chamber of Commerce and Industry has had a meeting with a visiting Austrian delegation
They discussed ways of upgrading economic cooperation and establishing joint investments
Shipping industry evades gloom, makes big money
The pandemic might have battered other sectors of the world economy, but the shipping industry has raked in revenues not...Jump in earnings has been caused due to a 333% hike in shipping cost
The hike in cargo charges, however, has raised the specter of inflation around the globe
Halliburton builds $100m worth chemical plant in Saudi Arabia
Halliburton, the US oil field service giant, is in the final stages of building the first reactor plant for the...Halliburton is close to completing the construction of the first reactor plant for the manufacture of chemicals in King Salman Energy City "Spark" in Jubail
Three of Halliburton's senior executives on Monday held a workshop in the Eastern Province to introduce Saudi investors to the factory's activity
Riyadh, Dubai compete for business of news
Prominent media houses that have announced plans to move their base from Dubai to Riyadh include the state-owned Al Arabiya...The proposed media city is coming up on an area of 60,000 sq m at Al Safarat (Diplomatic Quarter) in Riyadh
The MBC Group, the largest media company in the Middle East, was established in Britain in 1991 and moved to Dubai in 2002
Saudi insurance sector Q2 results: premiums up, net income down
DUBAI: Saudi Arabian insurance sector showed overall positive developments during Q2 as gross written premiums (GWPs) grew by 8.1 percent...Fall of net income by 59 percent attributed to the claims returning to pre-pandemic normal levels.
Energy and property claims grew by 98 percent and eight percent respectively.
UAQ Free Trade Zone to ease banking operations for SMEs, others
DUBAI: A Memorandum of Understanding signed between the National Bank of Umm Al Quwain (NBQ) and Umm Al Quwain Free...Companies registered in the zone can avail of priority banking.
Services that include transactions, payments, savings and credit from NBQ will help businesses build their credibility, NBQ said.
