Most markets advance after tech titans fuel Wall Street surge
Shares in Amazon, Apple and Facebook owner Meta all climbed during Thursday's session. All three companies were due to report...Business
Hosts Qatar embrace ‘positive pressure’ of Asian Cup title defense
Doha, Qatar -- Qatar coach Tintin Marquez said Friday they relish the "positive pressure" of trying to retain their Asian Cup...Arts & Culture Business
Bahrain central bank’s monthly Sukuk issue oversubscribed by 152%
The Central Bank of Bahrain (CBB) said Monday the monthly issue of the Sukuk Al-Salam has been oversubscribed by 152...Subscriptions worth BD 65.445 million ($173.5) were received for the BD 43 million issue, which carries a maturity of 91 days.
The expected return on the issue, which begins on 17 August and matures on 16 November, is 3.80 percent compared to 3.96 percent of the previous issue on 13 July.
DGCX licensed brokerage firms can now become DFM derivatives members
Dubai Financial Market (DFM) said Monday that it has obtained the approval of the Securities and Commodities Authority (SCA) to...Securities and Commodities Authority approves DFM to allow such firms to become DFM derivative members and provide their services in the market for the first time.
Currently, there are approximately 21 DGCX brokers licensed by SCA and this significant step caters to the growing demand from these companies to access the DFM.
Saudi real estate fund signs 58,000 housing support contracts in H1
Saudi Arabia’s Real Estate Development Fund has signed more than 58,000 financing contracts for the kingdom’s various housing support programs...One of the goals of kingdom's transformative Vision 2030 is to raise the percentage of house ownership to 70 percent,
The number of the beneficiaries of housing support programs from June 2017-June 2022 is more than 660,000.
Solutions by stc to buy Giza
The 89.49% stake in Giza Systems will cost it $158m.The company had entered a binding deal for the takeover of the stake in Giza Systems in addition to 34 percent of its unit, Giza Arabia
The transaction is expected to be completed by the fourth quarter of 2022
Saudi digital payments go up, represent 94% of all trades
The study highlighted how the government sector in the kingdom has almost completely converted to electronic payment methods for all...The use of electronic payments increased to 62 percent last year from 44 percent in 2019 across all areas of economic activities
When it comes to the business sector, the share of electronic payments reached a substantial 84 percent of all business payments in 2021, up from 51 percent in 2019
Saudi economy, GDP see upswing in H1 2022
Real GDP increased at a growth rate of 11.8% in Q2 2022, driven by the significant increase in oil activities...The report says Saudi Arabia's economy and GDP are on an upswing due to several factors
Even the World Economic Outlook July 2022 projected the Kingdom to record highest GDP growth among G20 countries.
Halwani Bros’ profit falls by 65%
The profit fell to $5m in HI due to rising cost of raw materials.The food company said the devaluation of the Egyptian currency also weighed on profits from its subsidiary in Egypt
The rising raw material costs and increased marketing costs due to global inflation were also responsible for weaker financial results
Saudi Arabia’s Kingdom Holding to invest $3.4bn in next 3 years
The company completed its earlier investment program during the period between the second quarter of 2020 and Q2 2022.The company completed its earlier investment program during the period between the second quarter of 2020 and Q2 2022
It invested in diverse sectors with a proven track-record of growth and strong financial position
Sharjah unveils ‘Holiday Homes Project’ to boost economy
The first phase of the project includes organizing field visits and inspection campaigns, as well as electronic or digital follow-up...SCTDA has mandated that the residential units be rented out on a rotational basis, regularly.
The project will also empower prospective users with a new source of income recognized by the Government of Sharjah
Clean beauty sector grows, so are greenwashing risks
In a positive development, the cosmetic industry at large is becoming greener. Approaches, however, are not always uniform or holistic...In a positive development, the cosmetic industry at large is becoming greener. Approaches, however, are not always uniform or holistic across the board, say experts
Greenwashing generates skepticism in consumer mind when they find out that something they thought was true is not, add industry players
