Salik revenue soars to US$574m
Toll usage revenue rose 11.7% YoY to US$502million.Company News Business Tourism
Bahrain: The ultimate destination for natural pearl lovers
Customers at a Bahrain jewellery store study displays of pearls that are, unusually, 100 percent natural -- the result of...While rare elsewhere, natural pearls prised from seabed oysters by divers are the only variety produced in the Gulf kingdom, which is fiercely proud of its pearling tradition
A tiny island state neighbouring Qatar, Bahrain is the sole country worldwide to have banned the cultivation of artificial pearls, which have flooded the market since the 1920s
Stock markets slip on auto woes, economy fears
Global equities mostly slid on auto sector woes and economic fears about the prospect of more interest rate hikes aimed...The dollar fell against its main rivals and crude oil tanked more than two percent.
Europe's main equity markets were mostly lower after a mixed session in Asia.
Nokia Q1 earnings down
Nokia's share price was down seven percent at $4.35.Nokia's earnings per share amounted to six cents, weaker than the seven cents expected in a survey of analysts by financial data firm FactSet.
Despite the mixed results, Nokia remains on track to "deliver another year of growth in 2023," said an official.
Dubai real estate sector deals increase by 80% in Q1 to $42.75 billion
Dubai, UAE – Dubai’s real estate sector recorded deals worth AED157 billion ($42.75 billion) in the first quarter of 2023,...Transactions worth AED528 billion were recorded during the year 2022, a 44.7 percent increase in volume and 76.5 percent increase in value compared to 2021.
The number of new investors entering the emirate’s real estate market in Q1 2023 rose to 13,338, a 12 percent growth from Q1 2022
SpaceX Starship, world’s biggest rocket, explodes during first flight test
Starship, the most powerful rocket ever built, exploded during its first flight, but Elon Musk congratulated his SpaceX team on...The Starship spacecraft that will eventually carry crew and cargo had been scheduled to separate from the first-stage rocket booster three minutes into the flight.
Despite the failure to complete the full 90-minute flight test and reach orbit, SpaceX and Musk, the founder and CEO of the private space company, declared it a success.
WTO, WBG, WEF launch scheme for trade, climate mitigation efforts
GENEVA, SWITZERLAND - The World Trade Organization (WTO), the World Bank Group (WBG) and the World Economic Forum (WEF) on...The initiative Action on Climate and Trade (ACT) . which starts with a pilot phase, will focus on working with participating developing economies.
ACT will provide participating economies with tailored insights so that they can plan for the impacts of climate change on trade.
EU parliament approves sweeping cryptocurrency rules
The European Parliament approved the comprehensive rules to regulate the "Wild West" world of cryptocurrencies, hoping to protect investors against...Under the regulation known as Markets in Crypto Assets (MiCA), cryptoasset service providers (CASPs) must protect customers' digital wallets.
Large providers will also have to disclose their energy consumption as part of the EU's efforts to reduce cryptocurrencies' high carbon footprint.
Asian Development Bank sells $3.5bn global benchmark bond
48% of the bond went to central banks and official institutions.The issue achieved wide primary market distribution with 49 percent placed in Europe, Middle East, and Africa.
The bank plans to raise about $28 billion–$30 billion from the capital markets in 2023.
Mastercard, DIFC to partner with FinTech companies for digital transformation
Dubai, UAE - Dubai International Financial Centre (DIFC), the leading financial centre in the Middle East, Africa and South Asia...The partnership will provide FinTech companies with access to Mastercard's network and DIFC's financial ecosystem
The collaboration will focus on creating new payment solutions and digital services, as well as enhancing existing ones
Perfect storm will make dollar biggest loser of 2023: deVere CEO
The warning from the boss of the financial giant follows the dollar having already dropped 10 percent from its peak...The warning from the boss of the financial giant follows the dollar having already dropped 10 percent from its peak hit last year
He warns that there is a transition underway from a bull to a bear cycle for the dollar and that this will impact the global investment environment
