Business - TRENDS MENA

Dubai, UAE – The Middle East’s tourism sector is poised for unprecedented expansion, with a new report predicting a 50...

PIF ranked seventh with a score of 92 (on the GSR score of 100), followed by Mubadala (88), among the...
Global SWF said it observed a very significant increase in the overall score across funds from 59 percent in 2022 to 63 percent this year.
PIF, Abu Dhabi’s Mubadala and ADQ, Qatar’s QIA, and Bahrain’s Mumtalakat have embraced the rating tool and taken the opportunity to improve practices.
ABU DHABI, UAE - UAE Ministry of Finance (MoF) released its annual report for the year 2022 highlighting performance, initiatives,...
The Ministry of Finance harnesses all capabilities to support the UAE's competitiveness, aligning with the government visions and directions.
The ministry has been keen on becoming a model and global reference for best practices and international standards in government financial work.
The cut which first took effect for July will continue in August and "can be extended", the Saudi Press Agency...
The move leaves daily production by the world's biggest oil exporter at approximately nine million barrels per day.
Alexander Novak, the Russian deputy prime minister responsible for energy policy said Russia will voluntarily reduce its oil supply in the month of Aug by half a million bpd.
The contracts were awarded to Petrofac Emirates and a consortium.
This expansion project, known as the sales gas pipeline network enhancement (ESTIDAMA) program, aims to extend ADNOC Gas' existing pipeline network.
The ESTIDAMA program comprises multiple packages, with the first package awarded in 2021 for early modification works on existing pipelines, which were completed in 2023.
From April to June, the Texas-based electric vehicle giant produced 479,700 cars -- an 85 percent increase compared to the...
The nearly half million deliveries represent an 83 percent increase over the same period last year, and a 10 percent rise from the previous quarter
In the US, Tesla has also benefited from its expanded eligibility in the government's $7,500 tax credit program for electric car buyers
The shareholders approved to distribute an 8.3% dividend.
The shareholders also endorsed the buyback of two million shares, to be earmarked for the employee stock incentive program
From the date of the EGM approval, the repurchased shares will be kept no longer than seven years and then allocated to employees
The shareholders elected a new board of directors as well.
The new chairman has a wide experience in the energy sector and is at present chairman of the board of trustees of the Doha University of Science and Technology
He has served as Qatar's minister for energy and industry, apart from holding the chairmainship of the Board of Qatar Petroleum, now called QatarEnergy
Baghdad, Iraq - Saudi Arabia and the UAE have allocated $6 billion to support their operations in Iraq, the Federation...
The FICC's president Abdul al-Razzaq al-Zuhairi emphasized the need for adhering to World Bank standards in the management of import and export of goods
Al-Zuhairi further elaborated on the role of the federation in establishing business councils and finalizing agreements, such as the one reached with Saudi Arabia and the UAE
Abu Dhabi, UAE - AD Ports Group on Sunday announced that it has acquired Noatum, a global integrated logistics services...
The acquisition has received approvals from all regulatory bodies, including from Spanish Authorities, after it attained clearance from the European Commission earlier this year
The Spain-headquartered company generated revenue and EBITDA of AED 6.4 billion ($1.74 billion)) and AED 448 million ($122 million) in the last twelve months
While the global economy reels from high inflation and the war in Ukraine, the UAE looks poised for positive economic...
The economy is expected to sustain its growth on the back of a rise in the purchasing managers' index to its highest level in five months in May this year
The robust increase in new business, according to the S&P Global, underlined growing confidence across surveyed firms about economic prospects