Chevron $53bn Hess deal in danger
Rivals' challenge to the control of a key oil asset can derail the acquisition.Company News Business
Multiply Group acquires Backlite Media
The buyout is part of its plan to boost media business.Business
Drop in German investors confidence sparks recession fear
BERLIN, GERMANY - German investor confidence fell in September for a third straight month, a closely watched survey showed on...The ZEW institute's economic expectations index dropped 6.6 points from the previous month to minus 61.9 points.
For its survey, ZEW quizzes experts about the current economic situation and the outlook for the coming six months.
India to invite UAE as ‘guest country’ at G-20 Summit
India, the incoming President of the Group of Twenty (G-20) announced that it will invite the UAE as one of...The G-20 accounts for 85 percent of global GDP, 75 percent of international trade and two-thirds of the world population.
This is the first of a series of announcements being made by India preparatory to its assumption of the G-20 Presidency on December 1, 2022.
High-level UAE economic delegation visits Georgia
A UAE economic delegation led by Minister of State Ahmed Ali Al Sayegh visited Tbilisi, Georgia.UAE-Georgian economic relations have witnessed remarkable development in recent years.
Total non-oil trade between UAE and Georgia in 2020 and 2021 grew by 52 percent to reach US$223 million.
UAE’s TDRA becomes member of global body EFQM
UAE's Telecommunications and Digital Government Regulatory Authority (TDRA) has announced that it has become a member of the European Foundation...Telecommunications and Digital Government Regulatory Authority will support the implementation of EFQM's leading approach.
TDRA will utilize the integrated services provided by the EFQM to better equip its own teams to drive excellence.
Tabreed okays 100% foreign ownership
The previous cap on foreign ownership was 49 percent.Tabreed is majority-owned by Abu Dhabi's state-owned fund Mubadala.
Khaled Abdulla Al Qubaisi, Chairman Tabreed, said the move is expected to “provide greater opportunities to benefit from foreign investment".
Dubai looks to raise $817m from IPO of Salik Company
Dubai is looking to raise $817 million in the initial public offering of Salik. It is selling 1.5 billion shares...All shares to be offered shall represent the sale of existing shares held by the Government of Dubai
The CEO of Salik believes the growth of the city is in tandem with the growth of Salik, and this offering represents an exciting opportunity for investors
Flower sale blooms for queen’s funeral
Well-wishers descended on London's vibrant Columbia Road flower market to snap up colorful bouquets after Britain's longest-serving monarch died last...Demand was "significantly high" in recent days, particularly for the queen's favorite white lilies, according to the British Florist Association
Mourners are asked to stop leaving non-floral objects like balloons, lit candles, and soft toys resembling Paddington Bear
US Fed Reserve may remain hawkish in coming months
Despite the recent slowdown, the US economy remains robust, which allows for more aggressive monetary policy tightening. The US consumer...The US Federal Reserve will lean "hawkish," raising rates by 75 bps in September and 50 bps both in November and December, before a final 25 bps hike in early 2023
Despite the recent slowdown, the US economy remains robust, which allows for more aggressive monetary policy tightening, Qatar National Bank says in its weekly report
UAE treasury bonds post “exceptional” bidding results
The fourth auction, which witnessed the first issuance of five-year T-Bonds saw a strong demand through the six primary bank...Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, stated that the new five-year T-Bonds will contribute to strengthening the local debt capital market
In May 2022, the UAE issued the dirham denominated T-Bonds of the UAE Government (T-Bonds), in two and three year tenures.
GCC banks cash in on high deposits, rising oil prices
Rising oil prices, which have proved to be a windfall for governments and companies in the upstream sector, has strengthened...Rising oil prices, which have proved to be a windfall for governments and companies in the upstream sector, has strengthened balance sheets of the region's banking sector
Saudi Arabia and UAE have recorded the strongest quarter-on-quarter and year-on-year growth, while Qatari and Omani banks have reported relatively minor increases.
