Saudi holdings of US Treasuries surge to $131.9b in December 2023
ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...Business Economy Markets
Lebanon judge charges Nissan employees for allegedly stealing Ghosn documents
BEIRUT, LEBANON - A Lebanese judge has charged four Nissan employees with the theft of documents and devices from the Beirut...Business Geostrategy
H&M to wind down operations in Russia to protest Ukraine invasion
H&M, which has operated in Russia since 2009, said it would reopen stores in Russia "for a limited period of...H&M, which has operated in Russia since 2009, said it would reopen stores in Russia "for a limited period of time to sell remaining inventory" as part of the exit process
It said the entire wind-down was expected to cost the group around 2.0 billion Swedish kronor ($192 million), of which around 1.0 billion would have a cash flow impact
UAE, France discuss diesel supply to Europe
Sheikh Mohamed's visit is expected to conclude with 'the announcement of guarantees given by the UAE on quantities of hydrocarbon...A key facet of the trip is likely to be the unveiling of "guarantees given by the UAE on quantities of hydrocarbon supplies to France"
MOUs and contracts are also expected to be signed in the transport and waste treatment sectors during the three-day visit
More deals in sight as UAE-France ties strengthen
The past years witnessed the signing of dozens of agreements and memoranda of understanding between the two countries in various...Relations between the UAE and France date back to establishment of the UAE Federation when some French firms such as 'Total' helped UAE explore oil
The past years witnessed dozens of agreements and MoUs between the two countries in various economic, cultural, military and environmental fields
Jordan tourism sector rides high on back of 1.9m visitors to kingdom
The tourism sector of the Jordanian economy has seen a huge growth, with more than 1.9 million visitors arriving in...Tourism Minister Nayef Al-Fayez described the situation as reassuring
He said the return of expatriates was an important component of the country’s tourism economy and that tourism revenue was calculated by the Central Bank
QIB posts profit of US$499m for first half of 2022
Total assets of the bank have increased by 4.8 percent compared to June 2021 and now stand at QAR 193...Total assets of the bank have increased by 4.8 percent compared to June 2021 and now stand at QAR 193 billion driven by the growth in investing activities
Total Income for the six months’ period was QAR 4,284 million registering a growth of 4.2 percent compared to QAR 4,112 million for the same period in 2021.
Oil wealth stirs up Baghdad-Kurd enmity amid deadlock
Iraq's oil wealth is rekindling tensions between federal authorities and the autonomous Kurdish region, in a row that could compromise...Iraq sits on enormous oil reserves, and revenues from the sector feed 90 percent of the federal government budget
It exports an average of 3.3 million barrels of crude oil per day (bpd), while production in Kurdistan amounts to just over 450,000 bpd
Jarir reports drop in H1 profit
The profit declined to $114m with its stock sliding too.Consequently, its shares fell 2.78 percent to $39 on Sunday
This decline was caused by a 5.5 percent drop in sales compared to the same period last year along with higher marketing and sales expenses
Capacity of DEWA IPP projects exceeds 4,000 MW
IPP model enabled DEWA to save an additional investment of AED 26 billion, which it invested in other infrastructure projects.IPP model enabled DEWA to save an additional investment of AED 26 billion, which it invested in other infrastructure projects
DEWA has developed a new benchmark for solar energy prices for every kilowatt hour, thus making Dubai a global benchmark for solar energy prices
PPP projects inject more vigor into Saudi healthcare
The Kingdom is stepping forward and allowing the private firms to invest in healthcare infrastructure, Sandeep Sinha, Head of Healthcare...The Kingdom is seeing a rise in private investment in the industry with multiple forthcoming healthcare PPP projects
Improving access to quality healthcare and building a world-class infrastructure are crucial pillars of Saudi Arabia's Vision 2030
Dubai makes rental payment hassle free
An agreement between Dubai Land Department and Emirates NBD eliminates the need for manually managing postdated cheques submitted to landlords.Dubai has one of world’s most competitive real estate markets. Rents have increased dramatically in the emirate: In May, the average monthly apartment rent was $7,500.
Real estate is an important part of the UAE’s economy, responsible for around 5 percent of the gross domestic product.
