Foreign investments boost Saudi financial market
Saudi Arabia's financial market is on an upward trajectory, fueled by substantial foreign investments and strategic economic diversification under Vision...Business
Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...Business Economy Geostrategy Global
Qatar Central Bank’s foreign reserves up 14 percent in June
Doha, Qatar -- International reserves and foreign currency liquidity of Qatar Central Bank (QCB) rose to reach QR 240.742 billion...The official reserves consist of major components, which are foreign bonds and bills, cash balances with foreign banks and gold holdings.
Qatar's gold reserves increased, as of the end of June 2023, by about QR 8.617 billion to reach QR 20.853 billion.
May expat remittances in Saudi Arabia marginally down: SAMA
Dubai, UAE -- Remittances from expatriates in Saudi Arabia saw a slight decline year-on-year (YoY) to SAR 11.3 billion ($3.01...On a month-on-month (MoM) basis, remittances from expats in Saudi Arabia increased 14 percent, or SAR 1.35 billion, Argaam reported.
Remittances by Saudi nationals to other countries also fell 6 percent YoY to SAR 5.84 billion in May.
Verition opens office in DIFC
MENA is an important market for Verition.Verition’s strategic positioning of its Dubai headquarters gives it access to DIFC’s financial and innovation ecosystem
Verition has a broad international footprint with offices in Greenwich, New York, London, Singapore and Hong Kong.
UN report confirms success of UAE investment endeavors: Al Marri
"The UNCTAD report for 2022 reaffirms the remarkable and unprecedented achievements resulting from the cumulative balance of FDIs flows in...UAE received the fourth largest number of greenfield projects (997), behind only India (1008), the UK (1230) and the US (2075), according to the UN Investment Report 2022.
Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade said the report confirmed the UAE’s position as a "compelling destination for global capital".
Taiwan chip giant sees no production hit from China curb on rare metals
Taipei, Taiwan -- Taiwan's chip giant TSMC said Thursday it did not expect any direct effect on production from China's latest...China's Ministry of Commerce and Customs announced Monday that exports of gallium and germanium will require a license from Aug. 1 over security concerns.
TSMC did not elaborate on the long-term indirect impacts but said it would monitor the situation closely.
ADQ acquires stake in Canada’s Sagard
The wealth fund invests in Sagard alongside Bank of Montreal.As part of the transaction, Great-West Lifeco (GWL), an international financial services holding company, will increase its existing minority share in Sagard.
In a statement, the entities said that BMO, ADQ and GWL agreed to invest in Sagard to boost its growth including through mergers and acquisitions.
AD Ports Logistics signs deal with Acino for freight services
Abu Dhabi, UAE-- AD Ports Logistics (ADPL) has signed an agreement with Acino to provide the Swiss company with global...AD Ports Logistics will take advantage of its pharma cold chain capabilities to transport vital medications from Acino's locations to markets in the MENA region
It offers a whole host of healthcare business solutions comprised of freight forwarding, contract logistics, transportation, and distribution solutions
Bahrain, UK sign MoU to preserve biodiversity and curb marine pollution
London, UK--Bahrain and the United Kingdom have signed a memorandum of understanding (MoU) on biodiversity and marine pollution.The MoU aims...The agreement will enable the two countries to explore areas of cooperation in monitoring the environment, marine life, biodiversity and safety from pollution
Both Bahrain and the UK, under the terms of the MoU, will exchange scientific and technical information, visits, training, research and cooperative projects
Iran signs oil contracts worth US$40bn in last 20 months: Javad Owji
Tehran, Iran-- Iran has signed oil contracts worth $40 billion with domestic and foreign companies during the last 20 months.Speaking...The Iranian minister made the remarks at the second ministerial session of the 8th OPEC International Seminar in Austria
He said Iran was producing 3.8mn barrels of crude oil and gas condensates and more than one billion cubic meters of gas a day
Meta launches Twitter rival Threads, 10m sign-ups in first few hours
More than 10 million people have signed up to Threads, Meta's rival to Twitter, within the first few hours of...Threads is the biggest challenger yet to Elon Musk-owned Twitter, which has seen a series of potential competitors emerge but not yet replace it.
Celebrities such as Jennifer Lopez, Shakira and Hugh Jackman, as well as media outlets including The Washington Post, Reuters and The Economist join.
