Meta chief discusses AI risks with Japan PM during Asia tour
The 39-year-old mixed business with pleasure while in Japan, going skiing with his family and learning about sword-making from a...Business
Iran becomes world’s ninth biggest steel producer, says WSA
TEHRAN, IRAN – The Middle Eastern country has improved its global standing in steel production, becoming the ninth largest producer...Business Economy
Tadawul market cap vaults 477% to US$2.6trn over last 5 years: CMA
Riyadh, Saudi Arabia-- The market capitalization of Tadawul, the Saudi stock exchange, has shot up 477 percent to $2.6 trillion...Yazid Al-Dumaiji disclosed that there are almost 80 applications under review for initial public offering (IPOs)
He said Tadawul witnessed a rise of 388% in foreign investments to reach a historical level of US$93 billion in 2022
SVB crash may hit GCC investments in US tech firms
Saudi Arabia and US tech firms have numerous partnerships and investments, with the PIF investing over US$7bn in American companies...Saudi Arabia and US technology firms have numerous partnerships and investments, with the PIF investing over US$7bn in American companies and banks, with key focus on tech sector
Middle East startups, however, have become resilient and resistant to setbacks, with a well-established network of startup incubators in Dubai, Abu Dhabi, Riyadh, Manama, and Doha
Ukraine grain deal extended, says Turkey’s President
Turkey announced the extension of a deal that has allowed exports of Ukrainian grain to resume following Russia's invasion, but...Turkey and the United Nations did not specify the duration of the grain deal.
A deal brokered by Turkey and the United Nations in July 2022 - and signed by Kyiv and Moscow - had allowed for the safe passage og grain supplies.
Jordan Chamber of Commerce, Hungarian envoy discuss economic ties
AMMAN, Â JORDAN - Â Vice President of the Jordan Chamber of Commerce (JCC) Jamal Rifai discussed with Hungarian Ambassador to Jordan...The joint Jordanian-Hungarian committee aims to present investment opportunities in the two countries.
In 2022, Jordan's exports to Hungary was worth US$1.15 million and imports were US$34 million, as per official data.
S&P, Moody’s revise Saudi Arabia’s outlook to ‘positive’
Riyadh, Saudi Arabia -- The global credit rating agency S&P Global Ratings updated its credit report for Saudi Arabia, raising...The agency highlighted the kingdom's strong real GDP growth of 8.7 percent in 2022, the highest among the G-20 economies
It forecasts the non-oil sector to remain strong through 2026 due to service sector growth supported by the ongoing social reforms
UAE banks provide $23bn in financial facilities to SMEs in 2022
Abu Dhabi, UAE – The UAE banks provided AED 83.3 billion ($23 billion) in financial facilities to small and medium-sized...Loans to SMEs accounted for 10.4 percent of the total accumulated balance of financial facilities for the trade and industrial sector
The SMEs sector represents more than 95 percent of the total number of companies operating in the country, according to Ministry of Economy
Emaar Properties to pay dividend
It will dole out cash dividends to the tune of US$601m.The company, in a disclosure to Dubai Financial market, said the proposed profits represent 25 percent of the capital, at 25 fils per share
Its net profit almost doubled in 2022 as sales hit a record of $9.5 billion on the back of strong demand from real estate buyers
UBS in talks to acquire embattled Credit Suisse: report
The Swiss National Bank (SNB) and financial markets watchdog FINMA told their US and British counterparts their "plan A" to...Credit Suisse came under pressure this week as the failure of two US regional lenders rocked the sector
The idea of a takeover by UBS was also floated this week by analysts at JP Morgan, calling it "the most likely" scenario
Major Abu Dhabi Securities Exchange deals total $4bn since start of 2023
Abu Dhabi, UAE - The Abu Dhabi Securities Exchange (ADX) has reported the execution of 10 significant deals with a...The deals were carried out through 321.14 million shares of three listed companies
Five major deals were signed by Al Alamiya Holding, the largest share among the three
Abu Dhabi-Japan Economic Council reviews growth in bilateral trade and investments
TOKYO, JAPAN - The ninth session of the Abu Dhabi-Japan Economic Council (ADJEC) here has reaffirmed its commitment to further...In 2022, the bilateral trade between the UAE and Japan rose 57.5 percent to exceed US$54 billion.
UAE exports to Japan grew 69.7 percent to US$45.9 billion compared to US$27 billion in 2021.
