SAMA seeks public feedback on financial governance amendments
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has invited interested parties and specialists concerned with “Key Principles of...Business
UAE insurance sector witnessed expansion in 2022: CBUAE
Abu Dhabi, UAE--The insurance sector in the UAE witnessed growth and expansion across various key indicators during 2022, according to...Business
Six new projects approved for development of Hatta
Tourism and water have been the economic mainstay of Hatta, an inland exclave of Dubai.Hatta residents will be allowed to build 200 holiday homes to support domestic tourism.
504-km-long chairlifts, waterfalls, hotel among other projects.
Meet to discuss Islamic finance’s role in post Covid-19 recovery
The global forum organized by the Islamic Development Bank on Aug. 28 is being held as a side event to...The first panel of the forum will highlight the economic effects of the pandemic and the poverty trends in IsDB member countries.
The second panel will focus on Islamic finance PPP as a tool to mobilize resources to support IsDB member countries’ economic recovery.
New GCC wealth drives private banking
Private banks cater to the complex banking needs of the Ultra High Net Worth Individuals and High Net Worth Individuals...Saudi UHNWI population has grown by 227 percent since 2016, the fastest growth rate globally over this period.
Private banking yields returns up to 30 percent annually, but more typically are in the 7-13 percent.
Megaship that blocked Suez heads back to Asia
The MV Ever Given had "successfully crossed" the canal after unloading its cargo in Britain and was now on its...The vessel was seen sailing in open waters accompanied by Egypt-flagged tugboats
The Ever Given got stuck diagonally across the canal during a sandstorm on March 23
Cryptocurrencies dazzle investors with high returns
Cryptocurrencies seem to be the flavor of the season as increasingly more people around the world are embracing them; sometimes...Though the concept of crypto (as they are informally called) investment seems novel, the first cryptocurrency came into the market more than a decade back
One cryptocurrency, recently launched, is destined to change all that, and is already making waves around the world as people are lapping it up in droves.
Iran’s July oil output rises 28% year on year: OPEC
Iran produced 2.485 million barrels per day or bpd of crude oil in July, according to OPEC’s latest monthly report.The country’s average crude output for the second quarter of 2021 stood at 2.443 million bpd
This indicated a 224,000-bpd increase compared to the figure for the first quarter of the year
Ever Given sails through Suez Canal again
Ever Given, the ship that caused the closure of the Suez Canal for six long days in March, has crossed...The ship, en route from the United Kingdom to China, crossed the canal among a convoy of 26 vessels
A group of SCA senior pilots and two tugboats escorted the Ever Given throughout its journey through the canal
Russia may supply 120kt wheat to Algeria soon
Russia, the largest exporter of wheat in the world, has been looking to enter the market for quite some time.This is expected to mark the first entry of Russian wheat in the Algerian market
Algeria has so far imported wheat mostly from France
Egypt to earmark $2.5bn for 17 desalination plants
Fresh water resources are becoming scarce due to drought in Egypt, which is more than 90% dependent on the Nile...The plants will supply drinking water to people in a country where potable water is often not very readily available
This move is the latest in Egypt’s list of initiatives to improve the supply of drinking water to its people
Abu Dhabi to be out of bounds for unvaxxed
Abu Dhabi will be effectively out of bounds for unvaccinated people from Friday in order to curb the transmission of...The unvaccinated are effectively barred from entering any business in the UAE capital except for supermarkets and pharmacies
People will be required to prove they have been vaccinated before being allowed into venues
