Oil prices slump but stock markets mostly higher
Wall Street indices enjoyed solid gains, including the Dow, which mustered a 0.6 percent advance in spite of an eight...Business Energy
Markets drop as US jobs deal fresh blow to early rate cut hopes
Hong Kong, China - Asian markets stumbled out of the gates Monday, extending last week's grim start to the year, after...Business Markets
Saudi mining law may pave way for ‘incredible’ investment in $1.3trn sector
Saudi Arabia is confident that its new mining law will lure private investment from the kingdom as well as abroad...In January, the Kingdom moved to capitalize on the vast wealth hidden below ground in Saudi Arabia with the establishment of a mining fund
The Saudi Industrial Development Fund is also offering 60 percent loans to investors in a bid to attract global players into the Kingdom
$6bn merger for Ooredoo arm
The merged company will be called PT Indosat Ooredoo Hutchison.PT Indosat, the Indonesian arm of Qatari telecom firm Ooredoo, will be merged with and PT Hutchison 3 Indonesia
H3I is a telecom company owned by Hong Kong-based CK Hutchison Holdings
Adnoc eyes 2GW hydrogen growth
Adnoc has inked deals with British Petroleum and Masdar for this.Under the terms of the agreements, Adnoc, BP, and Masdar will on UK and UAE clean hydrogen hub development
This development will be at an initial scale of 1GW in the UAE and 1GW in the UK
MENA startups raise $1.2 bn in H1
A Dubai-based think-tank has said that as many as 254 start-ups, mostly from the UAE, Saudi Arabia, and Egypt, have...Dubai-based think-tank MAGNiTT said that as many as 254 start-ups, mostly from the UAE, Saudi Arabia and Egypt, have attracted record breaking funding this year
Dubai SME offers funding options and support for including advisory and incubatory services to small and medium enterprises (SMEs), start-ups and established businesses
Messi, Neymar’s club PSG to play in Riyadh Season Cup
PSG boasts a stellar line-up, with the likes of Lionel Messi, Neymar, Kylian Mbappé, and Sergio Ramos taking to the...The tournament will be played in January next year as part of the second edition of Riyadh Season
The event, which celebrates the city, will be held from October 2021 to March 2022
Cloud adoption picks up pace in GCC region
The strong demand for cloud computing in the Gulf region is driven by efforts of the member states to diversify...The UAE leads the region in terms of cloud computing adoption and annual spending.
The MENA region will be worth around $5 billion to cloud suppliers by 2022.
Gulf aviation sector maintains regional lead
Several airports in the region have announced plans to expand their airports to meet the expected growth in travel demand.Experts see up to 40 percent rise in premiums in the next two to three years.
The total number of passengers traveling through DXB in the first five months of 2021 was around 9.9 million.
Aramco bags one-year contract to market Guyana’s crude oil
Aramco has bagged a one-year contract from Guyana to market the crude oil produced in the South American country.Guyana became the world's newest energy hotspot when a consortium led by Exxon Mobil Corp began producing crude off the country's coast in late 2019
It is now producing around 120,000 barrels per day
Saudi Arabia to regulate foreign investment
Looking to protect many sectors of its economy from the competition that the foreign companies will present, Saudi Arabia has...Chaired by the investment minister, the new committee will also set the limit for foreign ownership in local companies
The committee comes as more foreign entities take an interest in entering the Saudi market as part of the government’s push to modernize its economy
Saudi developer taps BMG for $266m IPO on Nomu
Bunyan United Company, the Saudi Arabia-based real estate firm, has tapped BMG Financial Group as its advisor for its upcoming...The Jeddah-based developer has real estate projects in several industries, including entertainment, medicine, and hospitality
Bunyan United Company, the Saudi Arabia-based real estate firm, has tapped BMG Financial Group as its advisor for its upcoming listing on Nomu, a parallel market in the Saudi stock
