Asia stocks track global losses as traders step back after rally
Hong Kong, China - Asian markets fell Wednesday in line with a sell-off across most of the world as traders took...Business
Bahrain’s value of indigenous exports rises 103%
The value of exports of national origin of Bahrain increased to BD386 million ($1.06 billion) in August 2021, compared to...Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD77 million (around $205 million) from Bahrain
The United States was second with BD62 million (around $165 million) and the United Arab Emirates third with BD53 million (around $141 million)
Hedge funds in Middle East post gains, after a full dull year
Hedge funds in Middle East are abuzz with excitement, posting double digit gains in August this year, after a weak...Yields for August alone were at 2.27 percent, higher than the global average.
Year-to-date returns for funds focused on region averaged 17.64%
First commercial flight lands in Kabul after Taliban takeover
An international commercial flight touched down in the Afghan capital on Monday, the first since the Taliban retook power last...‘There was hardly anyone on the plane, around 10 people... maybe more staff than passengers’
Qatar Airways operated several charter flights out of Kabul last week
Saudi mega power plant still seeking takers
The Ras Al Khair plant produces 1.05 million cu m of desalinated water per day and generates 2.65 GW of...Saudi Arabia was planning to sell 60 percent stake in the Ras Al Khair plant and raise $2 billion
However, bidders backed out after considering several factors, including the plant’s age and its waning technology
Adnoc Drilling sets IPO share price
The initial price is set at AED2.30 (around $0.63) per share.The subscription period for the Adnoc Drilling IPO will close on September 23 for UAE retail investors
It will close on September 26 for qualified domestic and international institutional investors
What’s the impact of the Apple app store court ruling?
Apple was forced to loosen the grip it holds on its App Store payment system. The tech giant requires developers...Apple takes a commission of up to 30 percent of app purchases or transactions.
It maintains that 85 percent of the approximately 1.8 million apps at the digital shop pay nothing to the company.
GCC insurance firms battle pandemic woes
It has been a roller coaster ride for insurance companies in the GCC countries and the health care sector since...Experts see up to 40 percent rise in premiums in the next two to three years.
Abu Dhabi-based Daman Insurance looking at new markets such as Kuwait and Bahrain.
DFM to unveil new equity futures contracts
In order to diversify investment opportunities, the Dubai Financial Market (DFM) will roll out new equity futures contracts on individual...Investors can trade DFM equity futures through eight brokerage firms
DFM sees growing investor interest in equity futures
Saudi Sidra Capital buys UK office for $26m
Sidra Capital, the Saudi Arabia-based investment firm, has bought an office building in the United Kingdom for $26 million.The Countryside House HQ in Brentwood is a Grade A commercial property that has been fully let to Countryside PLC, an FTSE 250 company
Property undergoing $11m refurbishment
Shuaa Capital CEO now owns 30 percent of the firm
The CEO of the UAE-based Shuaa Capital has bought 57, 966, 523 shares in the financial firm, taking his personal...Shares were sold by Shine Investments in Commercial Projects
In 2019, Shuaa Capital, which has $14 billion in assets under management, merged with Abu Dhabi Financial Group (ADFG) in 2019
