Central Bank of Bahrain Sukuk Al Ijara oversubscribed by 186 percent
Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al...Business
Gross written premium rises by 12.7% in Q4 2023 to US$14bn, says CBUAE
ABU DHABI, UAE - The UAE insurance sector continued to grow in Q4 2023, as reflected by the increase in...Business Economy Tech & Media
UAE approves Dubai Metro Blue Line project
DUBAI, UAE - Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved the...Sheikh Mohammed underscored that investments in infrastructure projects align with Dubai's strategy for comprehensive city development.
This is a new 30 kilometer metro route that will strategically link key areas in the emirate through 14 stations,
Saudi minister says 6,225 industrial firms from Kingdom invest US$30bn in Egypt
RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of...At least 518 Egyptian companies are operating in the Saudi market, the minister said.
He said that over 285 Egyptian brands are spread out across the Kingdom.
Qatar posts trade balance surplus of US$16.7bn in Q3 2023
DOHA, QATAR - The merchandise trade balance of Qatar (difference between total exports and imports) recorded a surplus of US$6.7...In Q3 2023, Asia was the principal destination of Qatar’s exports and imports, representing 74.9 percent and 36.3 percent respectively.
In Q3 2023, the European Union, accounting for 10.4 percent and 27.5 percent of Qatar's exports and imports respectively.
Dubai records weeklong real estate deals worth $2.45 billion
Dubai, UAE -- A total of1,852 real estate transactions valued at more than AED 9 billion ($2.45 billion) were conducted...The DLD weekly report said that 384 plots were sold for AED 2.54 billion, 1,468 apartments and villas were sold for AED 3.38 billion.
A total of 139 properties were granted between first-degree relatives worth AED507 million.
Jeddah Program named cultural destination of FIFA Club World Cup
Riyadh, Saudi Arabia -- The Historic Jeddah Program has secured sponsorship rights as the official cultural destination and main supporter...This prestigious tournament will be hosted in Jeddah from December 12 to 22, 2023, marking the first time it will be held in the Kingdom.
The program's sponsorship of this tournament is part of its efforts to showcase the historic Jeddah region, a UNESCO World Heritage Site.
8 pacts on trade, investment inked in Saudi-Algerian Business Forum
RIYADH, SAUDI ARABIA - The Saudi-Algerian Business Forum concluded its activities with the two countries signing eight agreements aiming at...The agreements cover trade, investment, information technology, business incubators and accelerators, tourism services, elevators, and spare parts.
The pacts were signed by the Federation of Saudi Chambers, the Council for Algerian Economic Renewal and several Saudi and Algerian firms.
Nissan invests in new electric cars
Japanese auto giant Nissan will invest up to £1.12 billion.Nissan will plough the cash into electric versions of its Juke and Qashqai models in Sunderland, which is its largest factory in Europe and employs around 6,000 people
The news will spark further investment in infrastructure projects and the broader supply chain which could bring the total investment up to £2 billion
$9.9bn transport investments boost Qatar’s logistics efficiency
Dubai, UAE -- Qatar Chamber has underscored Qatar's significant strides in the transport sector, positioning the nation as a formidable...With over 2 billion people residing within 3000 kilometers range of Qatar, the country boasts easy access to Hamad International Airport and the globally acclaimed Hamad Port
Hamad Port, with over 15 direct shipping lines connecting to 40 ports across three continents, has an annual capacity of 7 million tons.
Saudi oil and non-oil exports fall by above 17 percent in Sept
Dubai, UAE -- Saudi Arabia’s oil exports fell by 17.1 percent (SAR 17.2 billion or $4.58 billion) in September, mainly...The share of oil exports in total exports increased from 80 percent in September 2022 to 80.1 percent in September 2023.
Imports also decreased compared to August 2023 by SAR 9.6 billion or 13.7 percent, according to data by GASTAT.
EDGE signs MoU with MBRSC
The pact sets up a framework for knowledge, data sharingThe agreement exemplifies the strength of local partnerships in the UAE.
It underlines EDGE's commitment to expand its expertise into the space sector.
