Doha Bank bond issue oversubscribed four times
Doha, Qatar - Doha Bank has successfully issued $500 million in international bonds, garnering a total order book of $2...Business
Iran and Russia look to expand ties in the energy sector
Tehran, Iran-- Iran is looking to deepen energy ties with Russia as the latter is keen to explore and develop...Russian Deputy Prime Minister Alexander Novak said that projects to develop oil fields in Iran are underway and new projects are being outlined, "where I expect progress soon"
Iranian Oil Minister Javad Owji said that the two sides also discussed the construction of nuclear power plants in Iran and other electrical power generation
Gross banks’ assets vault 2.2 percent to US$1trn in February: CBUAE
Abu Dhabi, UAE--Gross banks’ assets, including bankers’ acceptances, rose by 2.2 percent, from $999 billion at the end of January...According to the central bank, gross credit shot up 1.2 percent from $510 billion at the end of January 2023 to $517 billion at the end of February 2023
It further added that total bank deposits climbed 0.4 percent, from $608 billion at the end of January 2023 to $610.48 billion at the end of February 2023
Sharjah Chambers reviews efforts to bolster UAE’s food security
Sharjah, UAE-- Sharjah Chamber of Commerce and Industry (SCCI) has reviewed the UAE efforts to achieve and maintain the food...The meeting discussed avenues for boosting exports, and explored strategies to monitor international markets in order to support local production
The participants highlighted the country's advantageous position, its advanced logistics infrastructure, and strong international trade relations
Innovating from jewelry to carpets, Egyptian brands rise
In the era of global mass production, Egypt's once expansive pool of skilled artisans has shrunk, with many young people...Experts in the sector say the global appeal of Arab and Islamic designs from other countries shows Egypt could do more to promote its rich, millennia-old artistic heritage
Artists and artisans in Egypt, the Arab world's most populous country, draw from a history that spans ancient Pharaonic times, the Mamluk, Ottoman and modern eras
Saudi Arabia ranks 2nd fastest growing tourism destination in world
The kingdom received about 7.8 million international tourists for all purposes during the first quarter of 2023, representing its highest...The kingdom also became 13th globally, advancing by 12 places, as one of the top countries receiving international tourists in 2022
The number of international tourists who visited the kingdom, for all travel purposes, hit 16.6 million in 2022, WTO reported
Gulf investments fuel Turkey’s economic growth
The GCC is the third largest source of foreign investment in Turkey, with 1,973 Gulf companies currently operating in the...The GCC is the third largest source of foreign investment in Turkey, with 1,973 Gulf companies currently operating in the country
Qatar has emerged as a significant investor in Turkey, with foreign direct investments reaching approximately $10.3bn by 2021 end
UAE ministry hosts discussion on poultry industry, food security
DUBAI, UAE - UAE Ministry of Climate Change and the Environment (MOCCAE) on Tuesday organized the second National Dialogue for...The National Dialogue for Food Security, organized by MOCCAE, aims to discuss topics that contribute to enhance food security for UAE.
The dialogue was also attended by poultry industry experts and representatives of various federal and local government entities.
Al Seer Marine secures ADNOC investment
The cornerstone investment in ADNOC Logistics is valued $70m.The move comes as part of the company’s strategy to diversify its investment portfolio, the company said.
Al Seer Marine was the sixth IHC Group company to list on the ADX in 2021. The company has a portfolio of services including management and training.
CBUAE imposes administrative sanctions on 8 banks
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) imposed administrative sanctions on eight banks operating in the...The administrative sanctions take into account the banks' failures to comply with the CBUAE's instructions
CBUAE works to ensure that all licensed financial institutions abide by the UAE laws, regulations and standards.
US retail sales, industrial production post April gains
Retail sales in the United States returned to growth in April fueled by a rebound in motor vehicle sales, data...Retail sales rose by 0.4 percent in April from a month earlier to $686.1 billion, the US Commerce Department said in a statement.
A separate report released by the Federal Reserve showed that industrial production rose 0.5 percent month-on-month.
