Oil may rise to $100, gold to hit $3,000 by 2025, says Citi
ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...Business Economy Markets
Over 20K investor accounts join DFM in first 7 months of 2022
Brokerage companies in Dubai Financial Market added 20,552 new investor accounts in the first seven months of 2022. The market...Brokerage companies in Dubai Financial Market added 20,552 new investor accounts in the first seven months of 2022
The market witnessed significant momentum since the announcement of the listing of 10 governmental and semi-governmental firms
Focus on OPEC+ in Wednesday meet as crude prices surge
The 13 core members of OPEC find themselves at a crossroads. After the drastic output cuts they agreed to in...According to the London-based research institute Energy Aspects, OPEC+ could adjust its current agreement in order to keep raising crude production volumes.
Any decision on Wednesday will have to be unanimous, which may lead to a longer meeting than normal.
SAMA approves merger of SABB Takaful and Walaa Insurance
Saudi Central Bank has approved the merger of SABB Takaful with the rival insurer Walaa Insurance, following an agreement between...According to a bourse filing, the execution of the transaction remains subject to obtaining regulatory approvals and votes of the extraordinary general assemblies
Once the deal is completed, SABB Takaful’s assets, liabilities, and rights will be transferred to Walaa Insurance and the former will cease to exist
Saudi to organize esports and gaming event Next World Forum in Sept
The Next World Forum, an esports and gaming forum that will bring together sector leaders and experts from around the...More than 1,200 delegates from across the globe will gather in Riyadh to discuss the most pertinent issues in esports and gaming at the in-person Forum.
Those attending the Next World Forum include ministers of sport from various leading nations, investors, gamers, developers, tech providers and start-ups.
Al Rajhi Bank H1 profit is up 21%
Operating income grew because of higher investment income, banking fees, and exchange income, the bank said.Operating income grew because of higher investment income, banking fees, and exchange income, the bank said
But the depreciation, higher salaries, and employee benefits weighed on costs during the six-month period, leading to a 4.5 percent rise in operating expenses
First wheat shipment leaves Ukraine as war heats up
The first shipment of Ukrainian grain left the port of Odessa on Monday morning, Turkey announced, as Kyiv said the...The blockage of deliveries from warring Russia and Ukraine -- two of the world's biggest grain exporters -- has contributed to soaring food prices
The Joint Coordination Center, the organization overseeing the grain exports, said the Razoni is carrying "over 26,000 metric tonnes" of maize
Dubai closes in on top spot for sea trade
The city, with a rich history of trading with the world through sea, looks to emerge as one of the...The investment to the tune of $38 million will go into building a network for sewerage, fire, storm water, telecommunication and roads
The new work on the infrastructure is in line with the Dubai Maritime Vision 2030, positioning the city to emerge as a premier international maritime hub
OPEC picks Haitham Al-Ghais of Kuwait as new chief
Haitham Al-Ghais of Kuwait has taken over as the new secretary general of the Organization of the Petroleum Exporting Countries...He is the first Kuwaiti to hold the position of OPEC chief, and will head the group for three years
The Kuwaiti oil executive will replace Nigerian Mohammad Barkindo, who died in July
Libya oil production returns to pre-blockade levels: official
Libya's oil production has returned to the volume recorded before a months-long blockade that paralysed the economy, official sources said...Oil production fell to around 400,000 barrels of crude per day during the mid-April to mid-July blockade
On July 15, Libya's new oil chief lifted force majeure at all the country's oil fields and export terminals
Arab Bank H1 profit $252m
The profits grew by 38 percent to $252 million.The Group maintained its strong capital base with a total equity of $10.2 billion.
The Group loan portfolio grew by 6 percent to reach $35.7 billion as of June 30, 2022 compared to $33.8 billion for the same period last year.
