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
Police hold boss of troubled developer China Evergrande: report
Xu Jiayin, who is known as Hui Ka Yan in Cantonese, was taken away by authorities earlier this month, according...Evergrande stocks in Hong Kong fell precipitously on Wednesday afternoon following a moderate rise in morning trading, closing the day 19 percent down
Chinese property developer Evergrande's enormous debt has contributed to the country's deepening property sector crisis, raising fears of a global spillover
ChatGPT maker value rockets in funding talks: report
The estimated worth for the company behind generative artificial intelligence platform ChatGPT is nearly triple that of just a year...OpenAI this week said it is adding voice and image capabilities to the platform, which was previously limited to written prompts
Voice and image capabilities are being rolled out to ChatGPT Plus and Enterprise users over the course of the coming weeks
Morocco looks to become key player in green hydrogen
According to the country's economy minister, around 1.5 million acres of public land -- nearly the size of Kuwait --...It hopes to harness green hydrogen -- the kind made without burning fossil fuels -- for its sizeable fertilizer sector
Hydrogen is seen as a clean energy source that can help the world reduce atmospheric carbon emissions
Iran to sign long-term contract with India on Chabahar Port
Tehran, Iran-- Iran will sign a long-term contract with India to develop Chabahar Port, according to the Islamic republic's minister...The Iranian minister said that a long-term contract to operationalize Chabahar Port will be signed with India in the near future
He said that in order to develop the country's transit, it is important to develop north-south corridors with a rail connection
DP World spends US$6bn
It invested the money to be a big supply chain player.DP World's CEO, Sultan Ahmed bin Sulayem, made the remarks during the 21st Arab Media Forum in Dubai, at a session titled ‘Trade in a Changing World’
He said the company made the switch from operating ports to becoming a global leader in smart end-to-end supply chain logistics, facilitating worldwide trade flows
China grants Approved Destination Status to Saudi Arabia
RIYADH, SAUDI ARABIA – China on Tuesday granted Approved Destination Status (ADS) to the Gulf Kingdom.The bilateral agreement, signed on...The bilateral pact allows Chinese citizens to travel to Saudi Arabia in group tours in addition to facilitating greater ease of access.
ADS will drive greater connectivity between Saudi Arabia and China and unlock new opportunities across the tourism ecosystem.
Alibaba plans to list subsidiary in IPO
It did not give a timetable for the move or how much it hoped to raise.Alibaba announced in March it was dividing itself into six entities, with the goal of listing them separately, along with the replacement of CEO Daniel Zhang.
Zhang, who was initially supposed to take charge of the firm's new cloud computing branch in September after stepping down, left just as he was supposed to take up his new post.
UAE explores partnership with China in labor and human resources
Dubai, UAE - UAE and China explored opportunities for the two countries to cooperate and exchange experiences in areas related...They also discussed the role that joint efforts play in promoting growth and encouraging entrepreneurship.
The two sides presented their respective plans for developing priority business sectors.
QatarEnergy inks pact with Marubeni
QatarEnergy will supply naphtha to Marubeni for 10 years.This pact builds on the five-year Naphtha sales agreement signed in 2018 between QatarEnergy and Marubeni Corporation.
Japan-based Marubeni Corporation is the largest petrochemical feedstock trading entity and aggregator in Asia.
Iraq’s oil revenues hit nearly $9bn in Aug: Ministry of Oil
Baghdad, Iraq -- Iraq's oil revenues in August hit nearly $9 billion, according to the data issued by the Iraqi...The $8.99 billion revenue came from crude oil exports of more than 106 million barrels, the country's Ministry of Oil said in a statement, according to the Iraqi News Agency.
The total quantities of crude oil exported for August from the oil fields in central and southern Iraq amounted to 105.236 million barrels.
