Washington, United States -- Global shipping giant DHL will "temporarily" suspend the shipping of parcels worth more than $800 from...
New York, United States -- Commercial plane prices, already lifted in recent years due to pandemic supply chain shocks, are...
Global economic challenges have led the UAE to review priorities and investment trends, with a focus on five key sectors:...The UAE economy recorded its fastest growth rate in over a decade despite the global economic slowdown.
The IMF expects the UAE’s non-oil economy to grow by about 4 percent in 2023 and accelerate over the medium-term.
The Gulf kingdom is pursuing ambitious aviation goals as part of Crown Prince Mohammed bin Salman's wide-ranging "Vision 2030" reform...Creation of Riyadh Air is part of a plan to turn Riyadh into a global aviation hub rivalling regional leaders like Dubai and Doha.
Last November officials announced plans for a new airport in Riyadh spanning 22 square miles, that is set to accommodate 120 million travelers by 2030.
New York, United States -- Silicon Valley Bank's stunning collapse has led to the freezing of tens of billions of dollars...The company, whose website says it is "the financial partner of the innovation economy," taken over by the US Federal Deposit Insurance Corporation to prevent further damages.
For banks that are FDIC-insured, only $250,000 per account is guaranteed. But according to SVB's annual report, 96 percent of its total $173 billion in deposits was uninsured.
- Riyadh, Saudi Arabia -- The Small and Medium Enterprises Bank of Saudi Arabia's National Development Fund said Sunday it has...
The Bank's direct and indirect lending programs, financing guarantee programs and investment programs will be financed over the next three years.
These programs support the kingdom's Vision 2030 and to raise the contribution of SMEs to the GDP to 35 percent.
Cairo, Egypt -- Egyptian exports to China rose by 20.8 percent to $1.7 billion in the first 11 months of...The trade exchange between Egypt and China increased by 2.6 percent during the first 11 months of 2022, reaching $14.9 billion.
Fuel, mineral oils and distillate products, cotton, and fruits made up the top 10 categories of goods that Egypt shipped to China.
It posted $161bn profits last year on high oil prices.The world's second most valuable company behind Apple, said in a filing with the Saudi stock market that net income for 2022 was $161.07 billion, up from $110 billion in 2021
Energy prices are expected to stay elevated in 2023, in part because of production cuts approved last October by the OPEC+ cartel that Riyadh co-leads with Moscow
The FDIC on Friday took over SVB, a major lender to the tech world, in the second-largest bank failure in...It is widely believed that the process of liquidating the bank's assets can drag on for a long time, with no certainty of just how much will be recovered
As per the California Department of Financial Protection and Innovation withdrawal orders from SVB reached a breathtaking $42 billion
Iraq has scuttled a big smuggling operation of bringing into the country a large consignment of three million pills of...In recent months, Iraqi security forces have ramped up operations against such smuggling bids, with several high-profile drug seizures reported
Iraqi police, a few weeks ago, announced a big seizure of more than six million pills of the stimulant in a major drug bust
ABU DHABI, UAE - etisalat by e& announced on Saturday the implementation of the Eutelsat Quantum satellite solution, becoming the...etisalat became the first telecommunications company in UAE to expand 5G network capabilities over a software-defined satellite.
This deployment was a result of rigorous testing with customers for over a year to rapidly scale up the 5G mobile network deployment.
- Officially closed and put into receivership by US authorities on Friday, SVB was at risk due to a heavy concentration...
SVB's woes are the result of "idiosyncratic stresses and not one that we see as systemic that would affect the banking industry," said CFRA Research's Ken Leon
A note from analysts at Morgan Stanley put it simply, saying, "We want to be very clear here ... we do not believe there is a liquidity crunch facing the banking industry."
