GPSSA issues circular on pensions, gratuity in UAE
ABU DHABI, UAE – The Emirates General Pension and Social Security Authority (GPSSA) has issued a circular to government and...Business Economy Geostrategy
Marafiq IPO oversubscribed
It attracted total orders of nearly $1.7 billion.A minimum of 10 shares were allocated per individual subscriber, while the remaining shares will be allocated pro-rata, with an allocation factor of 4.91 percent
Retail investors started the subscription of about 21.93 million shares of Marafiq, or 30 percent of total offered shares, at SR46 each on Oct. 26
Binance says crypto moved through platform from Iran
No Iranian cryptocurrency platforms are currently under sanctions. But US-imposed restrictions prohibit a US entity or US national from selling...Some $7.8 billion has passed through Binance in connection with accounts domiciled on the busiest Iranian platform, Nobitex, Reuters said
Binance's United States subsidiary is Binance.US, an entity that has come into regulatory crosshairs
UAE equities climb up while Saudi index drops
Propelled by sectors like telecommunications and utilities, the UAE stock exchanges posted gains this week, even as the Saudi equities...On Sunday, the main TASI index dropped by 0.6 percent, or the equivalent of 77.2 points, down to 11,632 points
The main index of the Abu Dhabi securities exchange on Monday increased 1.1 percent, gaining 119.81 points
Elon Musk sacks half of Twitter’s staff in a major overhaul
A week after he took the reins of the company, Elon Musk has sacked half of Twitter's 7,500-strong staff in...Workers around the world were shown the door and took to Twitter to vent their frustration or disbelief and say goodbye to one of Silicon Valley's most iconic companies
Musk has been scrambling to find new ways for Twitter to make money after his mammoth buyout, including an idea to charge users $8 a month for verified accounts
Morocco impounds two million captagon pills at northern port
Scuttling an "international trafficking attempt" to West Africa, Morocco has made a large seizure of more than two million amphetamine-type...In recent years trade of the stimulant has shot up, mostly originating in Lebanon and Syria, where a multi-billion-dollar industry has made the drug the country's largest export
Lebanese authorities have recently ramped up efforts to counter captagon production and trafficking after backlash from conservative Gulf nations
UAE’s FNC members discuss cooperation with German Parliament
Members of the UAE-EU Parliamentary Friendship Group of the Federal National Council (FNC), headed by Sarah Mohammed Falkinaz, Chairperson of...The two sides affirmed the importance of strengthening their parliamentary cooperation.
They also discussed relations between the UAE and Germany and of enhancing them in science, health, higher education.
COP27 must shift from talk to action says UN climate chief
The upcoming COP27 climate summit in Egypt must mark a leap from the process of hammering out a treaty to...Diplomats from nearly 200 countries are gathering in the Red Sea resort for the November 6-18 conference.
The US and the European Union - fearful of creating an open-ended reparations framework - have dragged their feet.
Qatar Central Bank issues treasury bills, sukuk worth $1.6 billion
Doha--The Qatar Central Bank (QCB) has issued Treasury Bills and Sukuk for periods of one week, one month, three, six...The bills and sukuk for one week, one month, three, six and nine months worth QR 6 billion ($1.6 billion), and the auction attracted a record amount of bids totaling QR 9.75 bn.
For September, the bank had issued treasury bills for three, six and nine months, with a value of QR 600 million ($164 million).
World food prices hold steady in October, says FAO
World food prices held steady in October, though cereal prices rose over uncertainty of a deal giving safe passage for...FAO said its price index averaged 135.9 points in October, marginally lower from September.
Wheat prices were up 3.2 percent, mostly reflecting continued uncertainties related to the Black Sea Grain Initiative, the UN body said.
Saudi-Finnish business forum discusses enhancing trade ties
HELSINKI, FINLAND - Heading a high-level delegation to Finland, Saudi Arabia's Minister of Commerce and Chairman of the Board of...The Saudi delegation was in Finland to participate in a forum organized by Business Finland in cooperation with the Federation of Saudi Chambers.
The forum was attended by around 120 officials from the public and private sectors in the two countries.
