Bahrain and Hungary aim to boost trade, investment ties
Budapest, Hungary--Bahrain and Hungary have held discussions to boost economic and trade ties between the two countries. In this regard,...Business
Qatar’s foreign merchandise trade surplus $5.13 billion in Dec 2023
Doha, Qatar - Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...Business
Al Mazaya’s subsidiary to sell Saudi firm stake
First Dubai Real Estate Development Co. board cleared the $51.4m deal.The board also approved to set off its entire accumulated losses by reducing its capital to 74.129 million dinars from 100 million dinars.
In May, Bait Al-Amar Al-Khaleeji General Trading and Contracting has purchased 60.029 million shares of Al Mazaya Holding.
Rush to invest in Saudi mining sector heats up, 4073 applications received
Saudi Arabia has been flooded with license applications from investors at home and abroad to invest in its mining sector....The Kingdom plans to launch a comprehensive geological survey to map the country’s mining potential
According to geological surveys dating back 80 years, the Kingdom has an estimated reserve of untapped mining potential valued at $1.3 trillion
UAE’s Amanat sells stake in Saudi IMC for $118m
The United Arab Emirates-based healthcare and education investment company, Amanat Holdings, has sold its 13.13 percent of minority equity stake...The sale is expected to net a gain of $11mln
Amanat held this stake through its 100 percent holding via subsidiaries in Saudi Healthcare and Education Fund
Panasonic completes acquisition of Blue Yonder for $8.5bn
Panasonic has now purchased the remaining 80 percent of shares of Blue Yonder, adding to the 20 percent which Panasonic...The acquisition has completed antitrust clearance procedures and received approval of regulatory authorities in the US and other countries
The acquisition has completed antitrust clearance procedures and received approval of regulatory authorities in the US and other countries
Qatar First Bank acquires office building in US
Fourteen555 is QFB’s eighth shariah-compliant real estate acquisition in the USA.The building becomes the first multi-tenant office addition to QFB’s now eleven-asset strong portfolio, the bank said.
Major tenants of the building include billion-dollar revenue firms such as Moss Adams and Infor.
UAE and KSA: Competing for a real estate pie
Saudi Arabia and the United Arab Emirates contributed about 70 percent of the total value of the Gulf Cooperation Council's...Saudi Arabia and the UAE contributed about 70 percent of the total value of the GCC's real estate deals in H1 2021
Reports published by KAMCO Research claim Saudi Arabia provided 44% of the value of deals in the MENA region in 2021
Saudi CMA looks to double $213bn funds under its control
The Saudi Capital Market Authority (CMA) intends to double the $213 billion funds under its management.The Capital Market Authority wants to create more jobs in the financial sector by increasing the assets under management
The Fintech accelerator is helping to build the capabilities and talent required by financial technology companies
Al-Nefaie named Seera Group CEO
He was appointed acting CEO of the group in AprilMajed bin Ayed Al-Nefaie succeeds Abdullah Al-Dawood.
He has been the vice-president of the revenue department at Makkah Construction and Development Co.
Kuwait population down 0.9 percent in H1 due to expat exodus
DUBAI: Kuwait’s population decreased by 0.9 percent in the first six months of this year to 4.62 million, as expatriate...More than a third of Kuwait population under 15, likely to put more pressure on the labor market.
Total employment fell by 1.7 percent in H1 due to moderation in hiring activity among Kuwaiti nationals in the private sector and a drop in expat employment.
Saudi Arabia and Greece to set up business council to deepen trade
Saudi Arabia and Greece have decided to set up a business council in order to enhance bilateral trade and investment...The body will aim to open new areas for economic cooperation, facilitate continuous interaction between the Saudi and Greek business sectors
The new council will also exchange information on available markets and investment opportunities, enable commercial and investment partnerships
