ADNOC Distribution posts record EBITDA
The EDITDA of $1bn benefited from OPEX saving of $28m.Company News Business
Jeddah Season 2022 kicks off in Saudi Arabia
This year's Jeddah Season is expected to feature international events and artistic and theatrical performances, Arab and international art concerts,...Jeddah Season 2022 is expected to make Jeddah a permanent destination for tourism, entertainment, and events in the region
The 60-day event will reportedly see 2,800 activities in nine main zones in the presence of Jeddah residents and visitors
Rockets hit key oil refinery in Iraq, causes minor damage
Six rockets landed Sunday in northern Iraq's autonomous Kurdistan region, Kurdish counter-terrorism forces said, with "minor damage" reported at a key...Kurdish counter-terrorism forces said in a statement that six rockets fell near the Zab river in the Khabat district
The attack which caused no casualties or damage was not immediately claimed by any organization
What are the GCC’s top stock exchange constituents?
What are the top constituents of stock exchanges spread across the GCC countries? Here’s our infographic.Some constituents — publicly traded companies — of the MSCI World Index would be heavier than others
And countries within the Gulf Cooperation Council have some of the biggest public companies in the world
Finland firm scraps nuclear plant deal with Russia
Finnish-led consortium Fennovoima said on Monday it has terminated a contract with Russian group Rosatom to build Finland's third nuclear...The proposed 1,200-megawatt Russian-designed reactor was to be built in Pyhajoki, about 100 kilometres (60 miles) from the port of Oulu in northern Finland
Two days before Russia's invasion of Ukraine, the Finnish government had said it was re-evaluating the security risks for the 7.5-billion-euro deal
Kuwait rebuilding five commercial license centers across country
Kuwait’s Ministry of Public Works has announced it will be re-building five commercial centers across the country. Local media reports,...Hawally Center, Khaitan Center, Mansouriya Center, Al-Dhahr Center and Al Ayoun Center are spread across different governorates.
Each building consists of a basement, a ground floor, first and second floors, and the roof.
Stock markets slide all across as Fed rate hike looms
Asian and European markets fell in holiday-thinned trade Monday following another tech-led rout on Wall Street, with focus on the...Trading floors around the world have been buffeted for months by a perfect storm of crises including China's lockdowns, surging inflation, Fed plans to hike rates
However, with some commentators warning rates could go as high as three percent, there are also worries the Fed could be too heavy-handed and tip the US economy into recession
Eid holidays boost Gulf tourism as COVID curbs ease
From overseas to the domestic circuit, the tourism industry in the Gulf Cooperation Council is witnessing a welcome resurgence, especially...Gulf citizens are looking to spend Eid al-Fitr abroad after being compelled to stay home for the past two years
This year’s Eid al-Fitr holiday witnessed high occupancy in the UAE hotel sector, driven by strong domestic tourism demand
Qantas to launch longest non-stop passenger flight
Qantas announced on Monday it will launch the world's longest non-stop commercial flight, with passengers set to spend 19 hours...Non-stop flights will start from Sydney by the end of 2025, it said, with long-haul trips later planned to include Melbourne
Qantas has announced ordering 12 Airbus A350-1000 aircraft to operate the "Project Sunrise" flights to cities including London and New York
EDB reaffirms its commitment to financial inclusion in the UAE
The Emirates Development Bank (EDB) has restated its commitment to financial inclusion in the UAE with a range of financial...EDB has reaffirmed that it is able to empower SMEs through direct or indirect financing, including a credit guarantee program
It has launched new services that support financial inclusion, including its digital solution for SMEs and start-ups, which resulted in more than 1,000 new accounts being created
NBA, NFL stars invest in Indian cricket franchise
US basketball star Chris Paul and American football players Larry Fitzgerald and Kelvin Beachum have invested in Indian Premier League...The three US athletes will be minority investors in the Royals, who won the inaugural edition of the Twenty20 tournament in 2008
The IPL has grown to be the most popular franchise-format league for Twenty20, the shortest form of cricket
