Iraq holds its first census in nearly 40 years
The Iraqi census is scheduled for Wednesday and Thursday, and will provide sorely needed up-to-date demographic data for the country...Business
AI-Driven technologies drive operational excellence, helping meet sustainability goals
Industrial AI and digital technologies are revolutionizing energy infrastructure, helping companies across asset-intensive sectors achieve operational excellenceBusiness
TAQA’s $1.5bn dual-tranche bonds listed on Abu Dhabi Exchange
Abu Dhabi, UAE -- Abu Dhabi National Energy Company (TAQA's) dual-tranche $1.5 billion bonds were listed on Abu Dhabi Securities...The five-year $500 million notes, maturing in 2029, were issued as conventional bonds with a 4.3 percent coupon.
The 10-year $1 billion tranche, maturing in 2033, was priced with a 4.6 percent coupon – with coupon payments being made to bondholders on a semi-annual basis.
EIH acquires stake in 9Yards Comm
The acquisition aims to broaden EIH's investment portfolio.EIH has cultivated a diversified, innovative and sustainable investment portfolio comprising over 40 successful companies across various sectors.
9Yards Communications has a broad client portfolio encompassing government entities and private organizations both domestically and internationally.
Tencent claims new AI chat bot skills comparable to ChatGPT
Tencent on Thursday gave a live demonstration of Hunyuan Aide's capabilities, with the bot introducing itself in response to questions...Tencent's "Hunyuan Aide", which it released to the public on Thursday, follows the similar ERNIE Bot rolled out by fellow Chinese company Baidu last month
Hunyuan Aide has "powerful Chinese language writing ability, the ability to make logical inferences in complicated linguistic contexts, Tencent said in a statement
ADNOC Gas signs US$450-550m Chinese supply deal
Abu Dhabi, UAE--ADNOC Gas today announced an agreement valued between $450 million and $550 million to supply Liquefied Natural Gas...ADNOC Gas CEO Ahmed Mohamed Alebri said that China continues to be a key market for the firm, and the deal reinforces "our role as a major LNG supplier"
Elary this year, the firm -- 90 percent-owned by state oil giant ADNOC -- also signed a three-year supply agreement with France's TotalEnergies Gas and Power
Saudi non-oil activities push Q2 economic growth to 1.2%
Riyadh, Saudi Arabia -- Saudi Arabia’s real GDP grew by 1.2 percent in the second quarter of 2023, compared to...A GASTAT report showed a 6.1% increase in non-oil activities over 2022, a 2.3% increase in government activities over 2022, and a 4.3% decrease in oil activities.
According to the report, seasonally adjusted real GDP decreased by 0.2 percent in Q2 of 2023 compared to the Q1 of 2023.
Bank of China opens in Riyadh
It is expected to speed up the use of yuan in trade.China's ambassador to Saudi Arabia said that it is the fruit of the continuous development of friendly relations between the two countries
With the launch of the Riyadh branch, the BOC now operates and provides financial services across 64 countries and regions worldwide
Saudi Arabia’s economy and fiscal position strong due to Vision 2030: IMF
Riyadh, Saudi Arabia-- Saudi Arabia's economy is in a state of prosperity and growth, and that the kingdom's fiscal position...According to an IMF statement, Saudi Arabia is the fastest-growing economy among G20 countries, recording an overall growth rate of 8.7 percent
The kingdom's non-oil GDP witnessed a growth of 4.8 percent in 2022 driven by robust private consumption and investments in various sectors
Rani R Raad is new CEO of IMI
International Media Investments owns and operates a portfolio of media outlets.The company said Raad "has been brought in to steer IMI and its operating assets to their next stage of development
IMI owns and operates a portfolio of media outlets, including The National, CNN Business Arabic, Al Ain News
Global trade finance gap grew to record US$2.5trn in 2022: ADB
The Asian Development Bank survey found that rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity...With data collected from 137 banks, the survey is the world's leading barometer of trade finance health
The Russian invasion of Ukraine was seen impacting trade finance portfolios by some 60 percent banks
Saudi Arabia leads as MENA region sees gaming boom
The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's...The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's market may hit $1bn mark this year and triple by 2030
Spearheaded by Saudi Arabia, the region's gaming renaissance reshapes the global landscape, with Gamers8 festival showcasing the region's growing influence in the sector
