Retail investors on Tadawul rise to 6.05 million in third quarter 2023
Riyadh, Saudi Arabia -- The number of individual investors on the Saudi Exchange (Tadawul) reached 6.05 million by the end...Business
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
Facebook to offer business loans in India
Facebook has announced that it will join hands with an online Indian lending firm to help provide loans to small...The social media giant is joining hands with Indifi to help provide loans ranging from 500,000 rupees to 5,000,000 rupees ($6,719-$67,191) at annual interest rates of up to 20%
Facebook said it would pay off to bolster the small business economy in India as these companies will use its apps including Instagram and WhatsApp to boost their growth
Emirates to increase salaries of employees
Emirates has announced that from October 1 it will undo all changes to employee pay structure that it undertook to...The new changes will take effect from October 1
""We will better recognize our internal talent by increasing the salary increment opportunity on promotion for core grades"
Saudi Arabia to improve labor quality
Saudi Arabia will start giving out professional licenses from next year in order to improve the quality of its domestic...The Ministry of Municipal and Rural Affairs and Housing for regulating city operators will start the first phase of issuing professional licenses for 16 professions
The major professions for which the ministry is seeking to introduce mandatory professional license in a phased manner consist of technicians, construction workers
Saudi Arabia takes offense at EU duties
Saudi Arabia has filed a World Trade Organization complaint over EU anti-dumping duties on imports of a chemical compound used...In the complaint, dated Aug. 17 but circulated to WTO members on Thursday, Saudi Arabia charges that the EU unfairly imposed provisional anti-dumping duties
The chemical compound is used in a variety of industrial processes, including to produce polyester fibers and components for manufacturing plastic bottles
Abu Dhabi updates Covid-19 travel list of ‘green’ countries
Travelers from these countries need not quarantine on arrival in Abu Dhabi.Travelers from these countries need not quarantine on arrival in Abu Dhabi.
The list is effective from 12am (UAE time) Friday and subject to change based on global Covid-19 developments.
EGA obtains $5.5 billion loan to refinance debt
The term loan facility reduces by $1 billion the size of EGA’s existing seven-year $6.5 billion loan facility signed in...Middle East’s largest aluminum maker expects loan to enable optimal dividend policy for shareholders.
The company could be listed if shareholders wish, says CFO.
19,000 kg banned drugs among Saudi customs H1 seizures
The customs authority has foiled more than 1,000 attempts to smuggle prohibited items into Saudi Arabia.Zakat, Tax and Customs Authority processes $80 bn worth of inbound and $34 bn outgoing goods.
About153,000 inspections carried out in the kingdom detect more than 20,000 zakat and tax violations.
