35 Jordanian companies to participate in Gulfood 2024 in Dubai
AMMAN, JORDAN – A total of 35 Jordanian companies are taking part in Gulfood 2024, the world's largest annual food...Business Economy
Asian markets rally after Wall Street highs, oil prices slide
"The weakness of yesterday's US retail sales release have given market doves a new lease of life and allowed them...Business
Saudi Aramco subsidiary Luberef expects to raise $1.32 bn from IPO
Dubai, UAE---Luberef, a subsidiary of Saudi oil giant Aramco, expects to raise up to SAR 4.95 billion ($1.32 billion) from...The company will sell nearly 30 percent of its share capital to individual and institutional investors, which translates into 50.045 million shares, and list on the Saudi Exchange.
In a Tadawul filing, Luberef said the price range for the offering has been set between SAR 91 and SAR 99 per share.
Jordan, India explore economic cooperation
AMMAN, JORDAN - Jordan's Minister of Investment Kholoud Saqqaf on Sunday received Indian ambassador in Amman Anwar Haleem for a...The minister briefed the envoy on the investment climate in the Kingdom and potential opportunities in various sectors.
She emphasized business-friendly legislation and simplified government service delivery.
Herzog becomes first Israeli president to visit Bahrain
Israeli President Isaac Herzog arrived in Bahrain, the first visit by an Israeli head of state to the small Gulf...Accompanied by an economic delegation, Herzog said he would discuss "ways to strengthen our economic cooperation".
Herzog said he would then travel to UAE's capital Abu Dhabi.
RTA to develop truck rest stops in partnership with ADNOC, Almutakamela
Dubai, UAE---Dubai’s Roads and Transport Authority (RTA) has awarded contracts for constructing three all-inclusive Truck Rest Stops in partnership with...The three stops that will be built over a total area of 226,000-sq meters can accommodate 500 trucks and heavy vehicles.
The three stations are situated in key areas nearby key roads and logistical cities that witness considerable numbers of trucks every day.
OPEC likely to hold oil output levels steady
Vienna, Austria— Major oil-producing countries led by Saudi Arabia and Russia look set to maintain their current output levels at a...OPEC is due to consult with 10 other oil-producing nations, including Russia, to review their decision in October to cut production by two million barrels per day
the EU, G7 and Australia agreed a $60-per-barrel price cap on Russian oil, which will come into effect on Monday or soon after
Smooth onboarding, offboarding process needed as more Saudi businesses opt for cloud communication
With data doubling in size every two years, effective info processing, analysis tools and storage technologies are required along with...With data doubling in size every two years, effective info processing, analysis tools and storage technologies are required along with a defined digital strategy, says an expert.
The cloud-first policy goal may help Saudi government attract investments, define clear data regulations, promote innovation, foster agility, and scale up growth
German government to stop unjustified energy price increases
BERLIN, GERMANY - The German government aims to put a stop to energy price hikes it sees as unjustified with...Price increases are to be prohibited until the end of 2023 - unless the supplier can prove "that the increase is objectively justified".
A justification could, for example, result from "market-based price and cost developments".
UN report warns global food crises likely to increase
ROME, ITALY - The world's ability to nourish its burgeoning population is under threat and without broader socioeconomic and environmental...The report identifies the issues at stake and the threats and problems that have an impact on future food consumption and agrifood production.
The report urges decision makers to think beyond short term needs.
ABB to pay US$315m fine
Two affiliates of ABB pleaded guilty to bribery charges.Two affiliates of ABB each pleaded guilty to one count of conspiracy to violate the US Foreign Corrupt Practices Act
In October eight people, including former Eskom CEO Matshela Koko, were arrested on corruption charges linked to the ABB work.
Fans without tickets can attend World Cup matches after group stage ends
Doha, Qatar---World Cup fans without tickets can travel to Qatar and watch the rest of the matches after the group...Qatari authorities said Early December feature, which allows fans without tickets to apply for a Hayya Card, will be valid after midnight on Dec. 2.
Fans will need to show proof of accommodation and pay an entry fee of QAR 500 ($137) to obtain the Hayya Card and enter Qatar. Children under 12 will not be charged.
