Honda and Nissan expected to begin merger talks
Honda and Nissan were poised Monday to announce the start of talks on a merger to help the Japanese giants...Business Uncategorized
Saudi Arabia partners with World Bank to launch global knowledge hub in Riyadh
According to World Bank Group President Ajay Banga, “The new Knowledge Hub being created by the World Bank Group and...Business
Growing IT outlays intensify MENA’s transformation
The region's IT spending is set to rise by 4% to $183.8 billion in 2024, with software and IT services...The region's IT spending is projected to rise by 4% to $183.8 billion in 2024, with software and IT services witnessing double-digit growth
This surge aligns with the MENA region's push for digital transformation, enhanced cybersecurity, and a focus on generative AI initiatives
European Union okays lighter pact on curbing car emissions
Brussels, Belgium - EU member countries on Monday adopted a watered-down deal on curbing car emissions, after auto manufacturers complained stricter...Led by France and Italy, the 27 nations voted for a less ambitious plan than the one put forward by the European Commission in November 2022
The European Automobile Manufacturers' Association (ACEA), the sector's main EU lobby group, cautiously welcomed the decision
ADX inks pact with Expo Center Sharjah to boost financial services
Abu Dhabi, UAE - The Abu Dhabi Securities Exchange (ADX) signed an agreement with the Expo Center Sharjah to enhance...The MoU between ADX and Expo Centre Sharjah aims to enhance services provided to the investor community in Sharjah
ADX and Sharjah Expo will be able to provide their respective customers with a more comprehensive range of services and offerings
Central Bank of Bahrain treasury bills oversubscribed by 149 percent
MANAMA, BAHRAIN - This week’s BD 70 million (US$186 issue of Government Treasury Bills has been oversubscribed by 149 percent.The...The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of the Kingdom of Bahrain.
The issue date of these bills is September 27 2023 and the maturity date is December 27 2023.
IsDBI, BIBF join hands to enhance global Islamic finance expertise
MANAMA, BAHRAIN - The Bahrain Institute of Banking and Finance (BIBF) and the Islamic Development Bank Institute (IsDBI) have decided...The programs cater to professionals from financial institutions, regulatory bodies, supervisory authorities and legal experts.
This partnership between IsDBI, BIBF focuses on elevating the industry, forging international connections, and nurturing talent on a global scale.
NEOM inks deal with Marriott International
Under the deal, two luxury hotels will be built in Trojena.The agreement includes Saudi Arabia’s first W Hotel, and a JW Marriott chain-branded hotel, NEOM said in a statement.
Trojena, a flagship development within NEOM, is being crafted and positioned as a year-round adventure sports haven.
Arab countries account for 60 percent of global Islamic financial industry, says AMF
ABU DHABI, UAE – Director-General and Chairman of the Board of Directors of the Arab Monetary Fund Dr Abdul Rahman...Setting accounting standards for Islamic finance institutions helps support the growth of the industry.
Maintaining the Islamic financial industry's achievements requires focusing on capacity building.
Qatar launches ‘Istamer’ platform to employ retirees in private sector
DOHA, QATAR - The Ministry of Labor (MoL) launched the "Istamer" digital platform, which deals with employing Qatari retirees wishing...The platform’s purpose is to aid retired persons keen on re-entering the workforce find jobs in private institutions aligned with their expertize.
The platform streamlines the entire recruitment process, from application submission to interviews and final job offers, which is all conducted online.
ADNOC, TAQA complete financial closing on sustainable water supply project
ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...A consortium comprising Orascom Construction and Metito (the Consortium) will construct a centralized world-class seawater treatment facility.
ADNOC and TAQA own a joint 51 percent majority stake (25.5 percent each), the Consortium owning the remaining 49 percent stake in the project company.
Al Akaria signs $610m infra contracts
The Public Investment Fund is a related party to the contracts.The contracts pertain to development of the main infrastructure networks and bridges for the Qiddiya project.
The contracts also include the design, construction, testing and commissioning of a sewage treatment plant.
