Dubai records $2.74 billion in weeklong real estate transactions
Dubai, UAE -- The real estate and properties transactions valued at 10.1 billion ($2.74 billion) in total during the week...Business
DEWA records 12.5 million digital transactions in 2023
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in...Business Energy
UCAC gets nod to amend insurance practice
The company had sought Saudi Central Bank's approval for the amendment.After approval, the UCAC would be limited to the practice of insurance activity only.
In a bourse filing on Sunday, the company said it will reduced accumulated losses to SAR 113.6 million.
Apple fix for Pegasus breach
Researchers found the problem while analysing a Saudi activist's phoneResearchers found the problem while analysing a Saudi activist's phone
Hours after releasing the fix, Apple said it had "rapidly" developed the update
$250bn GCC rail project on track after hiccups
The project linking the six GCC countries is expected to boost exports, diversify mode of transportation and reduce carbon emissions...Once the project is completed in the GCC, the developers plan to link the railway line with the ones in Jordan, Syria and Turkey and connect to Europe from thereon.
GCC Railway project not only benefits the six countries economically but attracts investments, both local and foreign
Space tourism: What’s on offer for those who can pay?
The era of space tourism comes with many options: a few minutes of weightlessness, or a few days or a...SpaceX's INSPIRATION4 set this week is the first orbital mission involving four non-professional astronauts.
A trip in a module of Space Perspective, hoisted by a space balloon the size of a football stadium costs $125,000.
UAE to tighten the screws on money laundering
Taking a strong stance against money laundering, the Central Bank of the UAE (CBUAE) has issued a new guidance on...The guidance serves as a key point of reference for licensed financial institutions to ensure their compliance with anti-money laundering
The guidance, which comes into effect today, requires LFIs to demonstrate compliance with CBUAE’s requirements within one month
Boursa Kuwait suspends 10 companies from trading
The reasons behind the penalty included not declaring quarterly financials, and not paying their annual subscription fees.Boursa Kuwait listed seven reasons why the companies had been suspended from trading
Some companies have been penalized for multiple reasons
Apicorp to allot $1bn for green energy
The bank will make the investment over the next two years.Currently, green assets comprise more than 13 percent of the bank’s overall portfolio
This is equal to around $550 million in loans and direct investments
Sohar Int’l raises Tier 1 capital by $130m
The Omani bank's new rights issue has been fully subscribed.Issuance fully subscribed, drew interest from HNWIs, retail investors, corporates
“Such overwhelming participation demonstrates the robust capabilities of Sohar International in terms of attracting capital to advance its strategic agenda"
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%
