Al-Waleed to sell 16.87 percent of his firm to Saudi sovereign fund

Al-Waleed, once dubbed the Warren Buffett of Saudi Arabia, struggled to recover his political and financial standing in the kingdom after he was detained in a crackdown.

Saudi Public Investment Fund, chaired by Crown Prince Mohammed bin Salman, is at the heart of Saudi Arabia's efforts to end its reliance on oil.

Iraq will have a surplus of the difference in selling oil: FM

Minister said in a Television interview, "Iraq will have a surplus of the difference in selling oil, up to 20 billion dollars"

According to the Iraqi Minister, 2021 budget is unable to cope with economic fluctuations

Central Bank of Iraq increases its capital to $3.42 billion

The bank decided to its capital from 3 trillion dinars to 5 trillion dinars.

The increase was made using part of the profits achieved by CBI in 2021.

UAE tea exports increase to AED1.2bn in 2020

The tea trade volume reached AED586 million in Q1 this year, including exports worth AED310 million, re-exports of AD51 million and around AED224 million in imports

the UAE tea trade last year stood at around AED1.859 billion, including exports worth AED968 million, re-exports of AED128 million, and AED763 million of imports

Rich Lebanese look for home away from hardships

Citizenship by investment schemes have become a booming business internationally, attracting the well-to-do from volatile countries like Iraq, Yemen and Syria

"Three years ago, I would not have imagined I would buy a passport," said Jad, who had previously grappled with lengthy visa procedures for business trips

NFTs, like cryptocurrencies, lose their sheen

NFTs are tokens linked to digital images, "collectable" items, avatars in games or property and objects in the burgeoning virtual world of the metaverse

The number of NFTs traded in the first quarter of this year slumped by almost 50 percent compared to the previous quarter, according to analysis firm Non-Fungible

Strong demand spurs Dubai’s realty growth

According to a report by Asteco Property Management, 2021 witnessed the delivery of about 17,000 housing units, including 15,000 apartments and 2,000 villas

Manager Partner of BSA, Jimmy Haoula, explained that the UAE had outshined many of its neighboring jurisdictions with a welcoming economy and a safe place to grow and live

Saudi oil supply to China soars 38% in April, highest since 2020

Saudi oil supply amounted to 8.93 million tons last month, equivalent to 2.17 million barrels per day

The hefty purchases, with trades completed mostly in February, compare with 1.61 million bpd in March and 1.57 million bpd a year earlier

Dubai: A Monaco in the making in the Gulf region

EU looks to build a strategic partnership with GCC

European External Action Service Spokesman Peter Stano said the cooperation is a must due to the current geopolitical developments

He added, “Together with our partners, we represent 20% of the global economy, and half of the foreign direct investments"