GCC records surge in women’s workforce participation
Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS...Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS report suggests.
This journey from traditional roles to transformative leadership signifies a key moment in GCC's history, setting a global benchmark for gender parity and inclusivity.
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...During the first two months of 2024, India, the US, Saudi Arabia and Iraq accounted for the majority of ACI’s exports.
The chamber's exports to the US surged during the first two months of 2024 to about US$297 million compared to US$275 million.
Doha Bank bond issue oversubscribed four times
Doha, Qatar - Doha Bank has successfully issued $500 million in international bonds, garnering a total order book of $2...The achievement follows an extensive marketing campaign by Doha Bank's management, engaging with investors globally to present the bank's objectives and performance overview
The positive response from investors reflects confidence in Doha Bank's future prospects and the robust fundamentals of the Qatari economy
Stable credit conditions make GCC firms resilient
Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a...Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a report.
GCC entities are poised to handle higher refinancing and interest costs through improved performance and non-oil growth, maintaining stable debt levels, it adds.
Italy begins probe into OpenAI’s new video tool Sora
ROME, ITALY – The European country's data protection watchdog - Italian Data Protection Authority - said on Friday it has launched...The Italian Data Protection Authority said it was concerned over “the possible implications for the processing of personal data of users.”
The watchdog said OpenAI -- which also makes chatbot ChatGPT and the image-generating DALL-E -- has 20 days to provide information.
Saudi Tourism Authority, Trip.com Group sign global agreement
BERLIN, GERMANY – Saudi Tourism Authority (STA) and Trip.com Group have announced a significant global partnership, which will drive greater...The joint effort aims to bring over 350 thousand additional tourists to Saudi over the course of the agreement.
The partnership is vital as it coincides with exceptional growth and transformation in the global tourism industry.
ADCB approves cash dividends worth US$1.1bn
ABU DHABI, UAE – Abu Dhabi Commercial Bank (ADCB) has approved the Board of Directors proposal to distribute a cash...ADCB’s physical-cum-virtual 40th Annual General Assembly meeting approved the decision.
The Board of Director’s proposal means distributing cash dividend of $0.15 (AED0.56) per share.
Binghatti lists sukuk on Nasdaq Dubai
The debut issue of the company is valued at US$300m.The company's listing sets a new standard as the first real estate benchmark USD-denominated sukuk from MENA in 2024
Nasdaq Dubai has maintained its position as a leading exchange for fixed income listings across the MENA region
Burjeel Holdings net profit up
The company’s 2023 annual revenue rises to US$1.2 billion.The group continued to implement its geographic expansion strategy with the launch of the PhysioTherabia rehabilitation network in Saudi Arabia.
It opened eight new centers in March 2024 in Riyadh, Jeddah, Dammam, Khobar, and Yanbu which significantly expanded its geographical reach.
Saudi Arabia transfers 8% Aramco stake to PIF-owned firms
Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...The transfer was "a continuation of Saudi Arabia's long-term initiatives to boost and diversify the national economy and expand investment opportunities".
The move brings the state's ownership of Aramco shares to 82.19 percent.
Oracle shares up 35%
Huge AI contracts lead to the surge.
ADCB to raise $1.66bn
The rights issue aimed at boosting growth.
EGA H1 revenue $4.11bn
Net profit before GAC $445 million.
Borouge to pay $660m H1 dividend
Its net profit for H1 was $474 million.
TAQA secures $2.31bn loan
It will be utilized in a phased manner.
