Gold hovers near a month high on slowing US inflation
ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while...Business Economy
WTO ministers struggle to forge deals as talks go into overtime
ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as...Business Economy Geostrategy Global
Emirates NBD arranges Al Rajhi’s US$1bn inaugural Sukuk
Dubai, UAE--Emirates NBD has successfully priced a US$1 billion Senior Unsecured Sustainable Sukuk for Al Rajhi Bank, the world’s largest...Priced at a reoffer yield of 4.774 percent, the sukuk was in heavy demand, attracting orders worth more than $3.75 billion
The bank will use the proceeds from the sukuk to finance and refinance sustainable projects in line with its Sustainable Finance Framework
Iraq and TotalEnergies agree on delayed US$10bn deal
Paris, France--French energy giant TotalEnergies announced Wednesday an agreement with Iraq on a $10 billion project that had been delayed due...While TotalEnergies will own 45 percent stake, Iraq's Basrah Oil Company will get a 30-percent stake in the project and QatarEnergy will get 25 percent
The French company said that a one-gigawatt solar power plant will be built to supply electricity to the Basra regional grid, with Saudi firm ACWA Power joining the project
Resilience and positivity key to success
There is a need to address workplace gender equality issues and empower women in leadership roles and men play a...Women should remain bold, confident, and unafraid to take risks and seek guidance, says Leila Hoteit, Managing Director & Senior Partner at BCG
There is a need to address workplace gender equality issues and empower women in leadership roles and men play a vital role in achieving it, she adds
Arab women embrace technology, innovation
Initiatives such as STEM and Women in Tech are crucial in bridging the gender gap and empowering women to drive...Arab countries are fostering a progressive environment for women, enabling them to participate in economic and technological transformations, says an expert
Noha Kadry, Regional Program Manager at Red Hat Academy, highlights the significant strides women have made in tech industry, leading firms and inspiring others
US pharma giant J&J proposes US$8.9bn settlement of talc cancer claims
New York, United States--US pharmaceutical giant Johnson & Johnson on Tuesday proposed an $8.9 billion settlement to resolve years-old lawsuits claiming...The payout, If approved by the court and a majority of the plaintiff, would be one of the largest product liability settlements ever in the United States
J&J was at pains to stress that the proposed settlement is not an admission of wrongdoing nor an indication that the company's talcum powder products are unsafe
Red Cross to cut 1,500 jobs over funding crunch
GENEVA, SWITZERLAND - The Red Cross announced Tuesday that it would cut 1,500 jobs over the next 12 months in a...The Red Cross said an expected drop in humanitarian assistance budgets over the next two years was forcing it to make significant cuts.
The Geneva-based organization said its governing board on March 30 had approved US$474 million in global cost reduction through early 2024.
Virgin Orbit files for bankruptcy, plans to sell business
Virgin Orbit, the satellite launch company founded by Richard Branson, has filed for Chapter 11 bankruptcy and will sell the...Virgin Orbit suffered a major setback earlier this year when an attempt to launch the first rocket into space from British soil ended in failure.
The company had organized the mission with the UK Space Agency and Cornwall Spaceport to launch nine satellites into space.
Iraq, Kurdish region sign accord to resume oil export
The deal, thrashed out in talks between federal and regional officials, spells the end of independent oil exports by the...The agreement was signed in Baghdad in the presence of Prime Minister Mohamed Shia al-Sudani and Kurdish premier Masrour Barzani.
The deal comes two days after Iraq, Saudi Arabia and several other major oil exporters announced a sharp reduction in their production from May.
Saudi Arabia hub of big healthcare firms
The current healthcare expenditure in the Gulf Cooperation Council region is expected to reach $135 billion in 2027, implying an...The kingdom will need 19,000 to 20,000 additional hospital beds by 2030, which calls for an investment of $33.8 billion to $35.6 billion.
Saudi Arabia's healthcare has seen tremendous growth and it continues to be one of the few sectors that have not been affected by economic fluctuations.
SEC to raise $2bn from sukuk
The firm announced 10-year and 30-year tranches.The firm offered a total of 10,000 bonds in the 10-year green sukuk tranche of $1.2 billion and a 30-year conventional tranche of $800 million.
The sukuk offering was made under the company’s newly established international sukuk program. Reportedly, the two tranches drew more than $15 billion in demand.
