AI entity is Board Observer in IHC
IHC is a pioneer in leveraging AI for decision-making.Company News Business Tech & Media
Digital innovation spurs gender parity in Middle East
Technology, from digital platforms to AI, offers a transformative avenue for empowering women, says Isabel Neiva of Kearney Middle East...Business
QCB issues treasury bills worth $832m for up to nine months
Doha, Qatar -- Qatar Central Bank (QCB) has issued treasury bills worth QR 3 billion ($832 million), attracting a total...One of bills, valued QR 1 billion had a tenor of one week and a yield of 5.005 percent.
The bank issued treasury bills worth $274 million for a one-week term on Feb 26.
Saudi Arabia meet discusses upcoming GCC-UK free trade negotiations
Riyadh, Saudi Arabia -- A meeting was held in Riyadh Thursday to prepare for holding the third round of free...The negotiations are scheduled to take place from March 12 to March 16, 2023, at the GCC General Secretariat headquarters in Riyadh.
The meeting was attended by the heads of negotiating technical teams, directors of departments, and coordinators of technical teams.
Credit Suisse delays yearly report
Delay has had no effect on its annual financial statement.The publication of the yearly report which includes information about the company's functioning, was due on Thursday
The bank had reported a net loss of 7.3bn Swiss francs ($7.9 billion) - the biggest since 2008, in its 2022 financial statement
Aramco’s $7 billion petrochemical project breaks ground in South Korea
Dubai, UAE -- Saudi energy giant Aramco broke ground for its 26.25-billion-riyal ($7 billion) Shaheen Petrochemical Project, its biggest in...Scheduled for completion by 2026, the Shaheen project is aimed at converting crude oil into petrochemical feedstock.
With an annual production capacity of up to 3.2 million tons, Shaeen is Aramco's biggest project in South Korea.
Global stocks mixed as markets await US jobs data
Wall Street rose but European stock markets fell as investors brace for US jobs data that they fear could prompt...The US Federal Reserve raised rates by a quarter basis point in December, lower than previous decisions.
European wholesale natural gas prices dived to the lowest level since August 2021, due to high storage levels.
Villas, apartments form bulk of $490m realty deals in Dubai
Dubai, UAE -- Dubai real estate market recorded deals worth AED1.8 billion ($490 million) on Thursday, Dubai Land Department said....The deals included 502 sales transactions worth AED1.2 billion, in addition to 98 mortgage deals of AED388.51 million.
Mortgages included 76 villas and apartments worth AED182.63 million and 22 land plots valued at AED205.88 million.
Mining, quarrying push Saudi Arabia’s IPI up 6.8% in Jan 2023
Riyadh, Saudi Arabia -- Saudi Arabia's Industrial Production Index increased by 6.8 percent in Jan 2023, compared to Jan 2022,...The kingdom's General Authority for Statistics said the mining and quarrying activity increased by 3 percent year on year.
The manufacturing activity increased by 19.2 percent, while the electricity and gas supply activity decreased by 3.4 percent.
Grain deal not being implemented properly, says Russia
MOSCOW, RUSSIA - Russian Foreign Minister Sergei Lavrov said Thursday that extending a deal that allowed grain exports from Ukraine to...Russia's military intervention saw Ukraine's Black Sea ports blocked by warships until a deal was reached for the export of grains.
The UN and Turkey-brokered deal will automatically renew on March 18 unless Russia or Ukraine object.
Saudi Arabia’s GDP grows 8.7 percent in 2022, reaches $1 trillion for first time
The growth rate is also the highest in the last decade, with crude oil and natural gas contributing 32.7%, government services 14.2%,...GASTAT said all economic activities achieved positive growth rates during 2022, with crude oil and natural gas contributing 32.7 percent.
Non-oil activities increased by 5.4 percent during 2022, especially transport, storage and communications activities (9.1 percent).
Al Ansari to sell 7.5m shares in Dubai’s first IPO for 2023
Dubai, UAE -- Al Ansari Financial Services, a remittance and foreign exchange services provider in the UAE, will be offering...The offering represents 10 percent of its total existing share capital. The size of the IPO could be amended any time before the pricing.
The company expects to list and start trading on the Dubai Financial Market in April.
