GCC at the forefront of 2024 sukuk market expansion
This year, emerging markets, led by the UAE, issued record bonds against declining yields and expected rate cuts by major...Business
China remains world’s largest logistics market in terms of demand
BEIJING, CHINA - The logistics sector in the country achieved steady recovery in 2023 and the country remains the world's...Business Economy
Bahrain now ranks among top 20 in foreign investment
Bahrain has attracted three times the amount of greenfield FDI that might be expected given the size of its economy,...The Financial Times Group publication has ranked Bahrain second in the Gulf and third in the Middle East and North Africa
Bahrain obtained 3.23 points, which reflects the relatively large contribution of foreign investments to the economy, the report says.
Aramco Q2 net income $25.5 billion, up by 288 percent
The results driven by higher oil prices and a recovery in worldwide demand, supported by the global easing of COVID-19...H1 net income $47.2 billion, representing a 103 percent increase over the same period in 2020.
The Q1 dividend of $18.8 billion was paid in the second quarter and Q2 dividend of the same amount will be paid in the third quarter.
GIG completes acquisition of AXA
The rebranding of AXA to GIG will happen in the next few months.At $474.75 million, the deal is the largest insurance acquisition in the region.
The transaction expands GIG’s insurance business portfolio, bringing the Group into two new markets in Oman and Qatar.
Dubai property sales hit four-year high in August
The figures indicate that the property market, particularly the residential market, is recovering after hitting a low at the start...A total of 37,537 sales transactions worth 88.12 billion dirhams were made by August end, which is 22.61 percent higher than the value of deals made in 2020.
The entire year of 2020 had 35,401 sales transactions worth 71.87 billion dirhams.
MENA firms: The public-private games go on
Two key Dubai firms — Dubai parks operator DXB Entertainments and Dubai ports operator DP World — have de-listed from...Companies in MENA region, once enticed by the prospect of growth, looked to be listed on global exchanges
However, mandates like following transparency norms are putting them off even further
Adnoc Drilling to offer 7.5% stake in IPO
Adnoc Drilling is the largest national drilling company in the Middle East by rig fleet size.Adnoc retains the right to increase the size of the offering at any time before pricing of the IPO
It will continue to own a majority of Adnoc Drilling’s share capital after the IPO
Emaar Properties and Emaar Malls get nod for merger
The proposed merger of Emaar Properties and Emaar Malls received a boost when the capital market regulator, Securities & Commodities...The proposed merger still requires shareholder approval
As per the proposal, the existing business of Emaar Malls will be reconstituted in a wholly owned subsidiary of Emaar Properties
South Korea mulls reviving FTA talks with GCC
The two sides have not had a mutual FTA for more than 10 years now.South Korea and the GCC agreed to negotiate an FTA in 2007, but talks have been stalled since 2009
Now, Korean Trade Minister Yeo Han-koo will soon meet his UAE counterpart Thani Al-Zeyoudi virtually in this regard
Boursa Kuwait launches ESG reporting guide
Through it, the bourse aims to drive the embrace of Corporate Sustainability in the Kuwaiti capital market.The guide will introduce the ESG universe to companies listed on the stock exchange
It will also highlight the benefits of ESG disclosure and best practices
Zamil Industrial unit wins AC deal
The contract is to supply AC systems to Saudi schools.Zamil Industries unit Zamil Air Conditioners has got the contract from Tatweer Buildings Company
The contract is worth SAR44.1 million ($11.7 million)
