ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.Company News Business
Heathrow to resume some flights after power station fire
London's Heathrow Airport said it would resume "some flights" later Friday after a fire at a power station grounded planes...Business
Stocks slide as investors worry over Middle East crisis
London, United Kingdom - European and US stock markets fell Thursday as investors worried over rising US Treasury yields and the...Wall Street opened higher after falling the previous day, but slid into loss during morning trading, while Europe's main stock markets extended losses
Risk aversion among traders was increased by concerns the Federal Reserve would hike interest rates again, or at least keep them elevated for an extended period
EU okays takeover of Seagen
Pfizer announced in March its deal with Seagen.The European Commission, the bloc's powerful anti-trust authority, said it had "unconditionally approved" the transaction after a market investigation
The firm came to major drugmakers' attention with its work on antibody-drug conjugates that are "designed to preferentially kill cancer cells"
PIF announces pricing of inaugural $3.5bn global sukuk issue
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) on Thursday successfully priced its first dollar-denominated Shariah-compliant trust certificates (sukuk).The...The issuance will be listed on the London Stock Exchange’s International Securities Market (ISM).
The sukuk issuance was more than seven times oversubscribed, with orders exceeding $25 billion,
Renault shares fall as sales disappoint
The company's strategy is to sell fewer cars but at higher prices.Sales grew 7.6 percent to 10.5 billion euros ($11 billion) as a drop in volume was offset by price increases for its vehicle lineup
But investors were not impressed as company shares fell more than seven percent in morning trading in the Paris stock exchange
EU launches enquiry on Meta and TikTok over disinformation
The European Union has built a powerful armory to challenge the power of big tech with its landmark Digital Services Act...The European Commission said it had sent formal requests for information to Meta and TikTok in what is a first procedure launched under the EU's new law on digital content.
Meta and TikTok have until October 25 to respond, with a deadline of November 8 for less urgent aspects of the demand for information.
Kadi Pay okayed for BNPL solutions
The company was approved by the Saudi Central Bank.With Kadi Pay, six authorized companies are now offering BNPL solutions in Saudi Arabia, bringing the total number of licensed/ permitted finance companies to 56.
The BNPL solutions provide finance to customers wishing to buy products and services without incurring financing costs.
Israel-Gaza conflict won’t impact Riyadh FII summit outcome: CEO
Riyadh, Saudi Arabia -- The tragic developments in Gaza won't have a huge impact on the overall outcome of the...Richard Attias. brushed aside the fears of slowdown in investment in the region due to the ongoing Israel-Palestinian conflict.
He said that most investors take a long-term view, so the ongoing war won't have big impact on the overall investment climate.
Women break barriers for gender equality in finance
This culture should recognize and value the contributions of women and prioritize their growth and development. By highlighting successful women...In the financial sector, diverse teams enhance decision-making and performance, yet women occupy just 10% of CEO roles in Fortune 500 companies
Emirati women constitute 31% of the UAE's finance sector workforce, underscoring the crucial role of mentorship and role models in advancing their careers.
Saudi Metrology Organization, Enterprise Singapore ink MoU on standardization
RIYADH, SAUDI ARABIA – The Saudi Standards, Metrology and Quality Organization (SASO) and Enterprise Singapore signed an MoU here, focusing...The pact encompasses cooperation and the exchange of best practices and experiences in metrology, calibration and safety of consumer products.
The MoU includes provisions for training, capacity building and collaboration in the development of infrastructure for standards and quality.
Turkey’s Atis Yapi opens Dubai office
This is the real estate giant's first office in the UAE.This follows signing of agreements and MoUs worth $50.7 billion between UAE President Sheikh Mohammed bin Zayed Al Nahyan and his Turkish counterpart Recep Tayyip Erdoğan in July.
Atış Yapı said it is set to develop a modern and competitive portfolio of residential and commercial projects in the UAE.
