61 contracts worth $7billion signed at World Defense Show in Riyadh
Riyadh, Saudi Arabia - About 61 purchase contracts totaling approximately SR26 billion ($6.93 billion) were signed at the second World...Business
Aldar net profit $1.19bn
Expanded investment and record development sales boosted profit.Company News Business
Global chip shortage likely to last through 2023: US official
The global shortage of critical semiconductors is likely to last at least through next year and perhaps longer, US Commerce...Dozen of CEO's including chipmakers met with Gina Raimondo to discuss shortage and all agreed that ''possibly in early 2024 or before we'll see real relief''
US Commerce Secretary repeated her call for Congress to act to provide funding for legislation that aims to stimulate domestic manufacturing of the computer chips
UAE, Saudi Arabia set new halal economy goals for GCC
Beside halal food business, Islamic banking holds the largest share of the Sharia-compliant industry, says Nik Joharris Nik Ahmad, country...The expansion of the global halal industry has resulted in a steady increase in its market size from $3.2 trillion in 2014 to $5.6 trillion in 2021
Stringent regulatory norms, including mandatory halal labeling and certification rules for food and beverages, are propelling the market growth
Jordan’s oil expenditure up by nearly 50 percent in Q1 2022
Jordan's oil bill went up by 49.1 percent in Q1 2022, compared to the same period in 2021, the Department...The value of the oil bill in Q1 2022 increased to JD761 million compared to JD510 million in the same period of 2021.
Jordan’s crude oil import amounted to JD126 million, followed by gasoline with JD142 million and kerosene with JD9 million.
ADX lists GFH Financial Group
The listing is set to expand GFH’s investor base and boost its share liquidity.This is GFH’s fourth regional listing with its shares already listed and actively traded on the Bahrain Bourse, Boursa Kuwait and the Dubai Financial Market
The listing of GFH Financial Group on Abu Dhabi Securities Exchange brings the number of dual listings on the exchange to four
Saudi Arabia, Seychelles to expand cooperation in tourism sector
Saudi Arabia and Seychelles will form a partnership to boost cooperation and exchange expertize in tourism sector which includes planning,...Saudi’s tourism ministry signed an MoU with the Ministry of Foreign Affairs and Tourism of Seychelles.
The MoU aims at supporting the efforts of tourism institutions and associations via holding conferences.
‘GCC businesses must adapt to latest digital changes’
Firms must have a specific and clear target list. What applies to real estate won't necessarily succeed in the automotive...Firms in the region must have a specific and clear target list. What applies to real estate won't necessarily succeed in the automotive sector, says 199X MD Khaled El Masry
All industries must be online with right content that can target right audience. What applies to real estate won't necessarily succeed in the automotive sector, he adds
ADNOC’s Borouge IPO its largest ever, oversubscribed 42 times
ADNOC and its partner Borealis AG have announced the completion of bookbuild and public subscription for the IPO of Borouge,...The book was covered within less than one hour of the start of the public subscription process.
Borouge is the fourth company that ADNOC has brought to market since 2017 and follows the successful IPOs of ADNOC Distribution, ADNOC Drilling and Fertiglobe.
ICD net profit $2.74 bn
The Group's revenue was AED 169.4 bn, up 24.5 percent.The rise in revenue was attributed to rallying commodities prices in oil and gas, higher levels of activity in transportation.
The Group's share of equity decreased by 1 percent to AED190.6 billion.
French companies show interest in Saudi entertainment market
Major French companies have expressed their interest in accessing the Saudi market and investing in the tourism and entertainment market...These companies can inaugurate headquarters in Riyadh to maximize benefits from these opportunities, said Laurent Germain, president of Saudi-French Business Council.
Germain said that Saudi Arabia has amazed the world with the entertainment industry within a short period of time.
EU leaders ban most Russian oil, as Moscow advances in Donbas
European Union leaders have agreed to ban more than two-thirds of Russian oil imports, tightening economic screws on the country...EU chief Ursula von der Leyen said the ban will effectively cut around 90 percent of oil imports from Russia to the EU by the end of the year
Participants in Monday's EU summit, however, hatched a compromise deal that exempts deliveries by pipeline from the oil import ban
