Mashreq prices Dim Sum bond

UAE bank raises offshore renminbi funding

Aldar buys Sharjah homes

Deal adds 1,100-plus rental units

SIB profit up 9%

Higher income from financing and investment drive growth.

Masar signs $82m land deal

Agreements signed with Abdulmohsin Al Rossais & Sons Group.

Borouge okays $656m dividend

The company said dividend reflects its resilience

  • 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

  • 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, 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.

  • 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.

  • 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.

  • 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.

  • DUBAI, UAE -  Over 300 prominent wealth and asset management (WAM) firms have established themselves in Dubai International Financial Center...

    The financial center's 300 wealth and asset management firms should help in providing a conducive environment for businesses in the region.

    DIFC's world-class legal and regulatory framework and access to competitive markets have bolstered the depth of its asset management ecosystem.

  • His decision to change the logo to a Shibu Inu dog, whether permanent or another short-lived joke, caused the price...

    The Shiba Inu dog became a popular meme in 2013 when posters on forums like Reddit and 4chan began using its pictures alongside messages written in broken English.

    The cryptocurrency was launched as a joke later that year and remained largely without value for years -- like thousands of other coins.

  • ZURICH, SWITZERLAND - Credit Suisse chairman Axel Lehmann said Tuesday he was "truly sorry" that the beleaguered bank could not be...

    The 167-year-old bank's final AGM was the first chance Credit Suisse shareholders had to voice their frustrations.

    "I can understand the bitterness, the anger and the shock of all those affected," Credit Suisse chairman Axel Lehmann said.

  • The packaging plant will be one of the largest in the world.

    The company signed an MoU with the kingdom's Ministry of Investment and the Ministry of Industry and Minerals for the project that will cost 1 billion Saudi riyals ($266 million).

    With an expected employment to the tune of 1200, the project will also help Hotpack to acquire a significant market share in Saudi Arabia, the statement added.