ADGM’s Registration Authority fines two firms for audit failings
ABU DHABI, UAE – The Registration Authority (RA) of Abu Dhabi Global Market has fined Baker Tilly Middle East Limited...Business Geostrategy
Asian markets up, Tokyo hits record as US tech earnings jump
Hong Kong, China - Asian markets rose on Thursday, with Tokyo's benchmark index posting a record high after greater-than-expected earnings from...Business
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
Fuel costs, falling pay add to UAE gig workers’ woes
Nothing changes for delivery workers of online food delivery aggregator platforms even as they resume work after protest against low...Even as social media was flooded with comments demanding better treatment and fair pay for the riders, nothing changed and they eventually went back to work
The gig economy is coming under pressure from governments around the world as they look to enact protective policies and regulations, says a food critic and blogger
US Central Bank needs to hike interest rates till inflation drops : Governor
The US central bank needs to keep raising interest rates in big steps until inflation starts to come down, Federal...The Fed early this month announced the biggest increase in the benchmark interest rate since 2000.
Markets could tighten by a total of 2.5 percentage points this year, including the 0.75 point of increases.
Qatar’s Export Unit Value Index surges by 61 percent in Q1
Qatar’s Export Unit Value Index (EXUVI) has increased by 61.05 percent in Q1 2022 compared to Q1 2021. The Planning...The Planning and Statistics Authority (PSA) released its Quarterly EXUVI for Q1 2022 as a new chain is added to statistical indicators calculated by PSA.
The addition is as per the policy of PSA in providing accurate statistical information and data that support the decision-maker.
Qatar government, banks behind its strong economic show: CEOs
The measures adopted by Qatar’s government and Qatar Central Bank proved decisive in countering the negative impacts of pandemic and...The CEOs focused on various issues like environmental and social practices, corporate governance.
Future prospects of Qatar's economy are stable, as its banking sector enjoys flexibility and quality with high capital and liquidity, said Qatar National Bank CEO.
