Ghitha Holding buys stake in MNG Airlines
The acquisition of 44% stake is valued at US$211.20 million.Business
Gulf realty navigates opportunities and challenges
The GCC real estate sector enters 2024 amidst a complex interplay of global economic challenges and regional opportunities, says a...Business Uncategorized
Saudi allows duty-free markets at air, sea and land ports
Riyadh, Saudi Arabia -Saudi Arabia has approved the establishment of duty-free markets, when necessary, at air, sea and land ports...The decision will allow sales to travelers coming to and departing from the Kingdom.Â
The Saudi Cabinet also reviewed the Kingdom's participation in G20 ministerial meetings, held in Bali.
Saudi delegation visits Jordan’s Petra to enhance cooperation
A delegation from Saudi Arabia's Royal Commission for AlUla (RCU) visited Petra on Tuesday to advance cooperation between the two...PDTRA Chairman briefed the Saudi delegation on the authority's efforts to develop tourism in Petra.
The delegation toured the rose-red city and looked firsthand at the Petra By Night program, the flying taxi and other projects.
Oman issues Treasury Bills worth $103 million for 91 days
Muscat, Oman---The government of Oman issued Treasury Bills worth Omani Riyal 40 million (US$103 million) for a period of 91...The average accepted price reached RO 99.419 for every RO 100, and the minimum accepted price arrived at RO 99.270 per RO 100.
Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance.
Stocks push higher, but yen and euro under pressure
European and US stocks rose Tuesday, but gains were capped by economic slowdown fears and central bank efforts to contain...European and US stocks rose Tuesday, but gains were capped by economic slowdown fears and central bank efforts to contain surging inflation.
Frankfurt rebounded somewhat despite news that Germany's industrial orders slumped for the sixth consecutive month in July.
Shapoorji bags Majid Al Futtaim deal
The US$217.4m contract covers construction of 808 villa sets.The projected date of completion of the projects at Tilal Al Ghaf is mid-2024.
A key highlight of Tilal Al Ghaf is its central recreational lagoon bordered by white sandy beaches.
ADJD notarization, authentication transactions jump in August
The Abu Dhabi Judicial Department (ADJD) has achieved a record surge in total notarization and authentication transactions carried out in...There were 13,000 notarization and authentication transactions operations in August.
The availability of multiple electronic options for submitting and completing transactions remotely helped in the increase.
UAE takes part in G20 Health Working Group in Indonesia
UAE's Ministry of Health and Prevention (MoHAP) has taken part in the G20 Health Working Group (HWG3) meeting in Indonesia...The UAE ministry's delegation highlighted the importance of promoting solidarity among member states to better meet essential health needs.
The delegation said UAE is ready to cooperate with Indonesian officials to expand vaccine manufacturing and research hubs for pandemic prevention.
Sixteen European news agencies launch joint Brussels newsroom
The 16 agencies --Â dpa, AFP, AGERPRES, ANSA, APA, ATA, Belga, BTA, EFE, Europa Press, FENA, HINA, MIA, STA, Tanjug and...The hope is that by working more as a network, the agencies' pooled resources will provide a deeper understanding of European news to readers in their home national markets.
Journalists from the smaller European agencies will share workspaces in Belga's Brussels headquarters and offices near EU headquarters, as well as training opportunities.
Mubadala Petroleum rebranded
The company achieved the 500,000-boed milestone this year.In 2017, Mubadala Energy shifted its strategy to natural gas, a transition that saw the company realize key projects.
Other major gas projects include Mubadala Energy's operated Pegaga gas field in Malaysia.
Lufthansa pilots to strike again, escalating wage dispute
A week after the airline was forced to cancel all flights due to a pilots’ walk-out on Friday, affecting 130,000...The pilot union is seeking a 5.5 percent wage increase by the end of the year, automatic compensation for inflation and adjustments on its salary grid
Lufthansa has said the entire package sought by Cockpit would raise pilot personnel costs by 40 percent or $900 million
