Red Sea Global, Riyad Bank sign agreement on $522m financing
TABUK, SAUDI ARABIA - Red Sea Global (RSG) has completed a US$522 million (SAR2 billion) financing agreement with Riyad Bank,...Business Banking & Finance Economy
Economic forum in Amman to enhance trade ties between Iraq, Jordan
AMMAN, JORDAN - The Iraqi Business Council, in collaboration with the Jordanian and Amman Chambers of Industry, is set to...Business Economy
UAE-Kazakhstan trade reached $907 million in 2021: Ambassador Menelikov
The Kazakhstan ambassador valued the UAE leadership's interest in strengthening relations between the two countries, pointing out that the 1st...Emirati investments in Kazakhstan amounted to about $2.7 billion since the establishment of diplomatic relations.
Value of Kazakh investments was more than $1 billion, and total direct investment flows from the UAE increased 43 percent.
Saudi expecting tens of thousands of World Cup fans: Minister
The efforts are intended to jumpstart the nascent tourism sector in the once closed-off kingdom, which only began issuing tourist...Weekly flights from Saudi to Qatar will soar to 240 during the month-long tournament, up from six normally, tourism minister Ahmed Al Khateeb said.
Saudi Arabia has offered multi-entry 60-day visas to holders of the World Cup's Hayya pass, the compulsory permit available to ticket-holders.
Dubai real estate market records deals worth $462 million on Tuesday: DLD
Dubai, UAE--- Dubai real estate market recorded real estate transactions worth AED1.7 billion ($462 million) on Tuesday, Dubai Land Department...The transactions included 425 sales transactions worth AED1.32 billion, in addition to 71 mortgage deals of AED386.7 million, and 12 gift deals amounting to AED56.77 million.
The sales included 403 villas and apartments worth AED1.17 billion, and 22 land plots worth AED149.92 million.
First Abu Dhabi Bank Group net profit for nine months of 2022 $2.96 billion
The bank said impairment charges were AED1.7 billion, 11 percent lower YOY.The bank said that the total income reached AED18 billion, up 13 percent yoy, driven by 18 percent growth in net interest income.
Total income for the nine months includes an AED3.1 billion net gain on the sale of a stake in Magnati.
CMA approves 18 listings on Tadawul
Tadawul is also developing a market marker for the bourse.According to Mohammed al-Rumaih, CEO of Tadawul, the Capital Market Authority has approved 18 listings through 2022
The number surpasses the 2021 figure, which saw 21 listings, as well as the number witnessed in 2020, when the market recorded only eight listings
Video: TOP CEO Conference highlights woes of the ‘Certainty of Uncertainty’
A panel of experts, bankers, politicians, top executives had predicted the fallout from the pandemic, runaway inflation, and war in...The UAE Minister of State for Entrepreneurship and SMEs believes that the most powerful tool with a government is agility and the ability to react to a crisis
While it is crucial for a country to see its government function efficiently during a crisis, it is no different for a company
India fines Google $113 mn for ‘unfair’ payment system
The CCI ordered Google to allow app makers to use third-party billing systems and treat rival payment processing services on...The California-based company's Android mobile operating system is by far the dominant player in India and runs on 95 percent of all the country's smartphones
Independent developers distribute their own software on Android through the company's app store, Google Play, but must use Google's billing system to collect revenue
Mashreq posts net profit of US$708m
The embrace of digital services by it customers drove growth.Its operating income has increased by 24.3 percent over the previous year to $1.44 billion
The operating profit at $871 million represents a 33.2 percent increase compared to the same period of 2021
Google’s money churning ad engine sputters in rough economy
Worsening the financial situation for Alphabet is the fact that Google tends not to aggressively promote advertising on its platform...Alphabet said it made a profit of $14 billion in the third quarter on ad revenue that grew just 6 percent to $69 billion when compared with the same period of last year
Alphabet recruited throughout the pandemic, but announced a slowdown in hiring as ad revenue growth cooled this year
Al Seer Marine buys large crude carriers
The firm's total VLCC fleet value is now $245 million.VLCC Acrux (previously Elandra Everest) is the name of the third VLCC vessel Al Seer Marine has taken delivery of in October 2022.
In addition to the three VLCCs, Al Seer Marine recently acquired two liquefied petroleum gas (LPG) tankers valued at US$70 million.
