Alef Group announces US$84m sales transaction at ACRES 2024
SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant...Business
Do Kwon’s Terraform Labs files for US bankruptcy
Kwon, who co-founded Terraform in 2018, was arrested last year in Montenegro and is awaiting extradition to the United States...Business
Saudi Eastern Province launches 11 investment projects in Dammam
Saudi Arabia’s Eastern Province has launched 11 investment projects in Dammam metropolis. The Undersecretary for Investments and Revenue Development, Eng....The launch of these investment sites is part of the objective of 40 investment projects with an area of 3 million square meters.
The duration of investment projects is 25 years, subject to extension, according to Undersecretary for Investments and Revenue Development, Eng. Hamdan Al-Aradi.
UAE’s Al Habtoor slams bogus listicles
A leading magazine recently published Top 10 Richest Arab billionaires list and was criticized for ignoring many nationalities and known...Forbes Middle East recently published “Top 10 Richest Arab billionaires” list and was criticized for ignoring many nationalities and known wealthy businessmen
Egyptian billionaire businessman Nassif Sawiris with $7.7bn topped the Forbes Middle East list, followed by Algerian Yassaad Rabab and family at $5.1bn
Global stocks slide on Fed tightening and China prices
Asian stocks posted losses on Monday as unease lingered over tightening monetary policy by the Fed and rising prices in...The drop followed a negative lead from Wall Street
In Tokyo, the Nikkei closed 0.6 percent lower, while Hong Kong and Shanghai lost more than three percent and two percent respectively
Al Seer begins VLGC construction
Lucky Gas is the company's first Very Large Gas Carrier.Last year, Al Seer Marine formed a joint venture named ABGC DMCC with BGN International to build two new VLGCs.
Lucky Gas is expected to be completed and delivered by March 2023. The second VLGC, named North Gas, is expected to commence steel cutting in May 2022.
QIC, QInvest partner to form asset management company
The new company, jointly owned by QIC and QInvest, will be a Sharia'a compliant entity, regulated by Qatar Financial Centre...The new company, jointly owned by QIC and QInvest, will be a Sharia'a compliant entity, regulated by Qatar Financial Centre Regulatory Authority
Founded in 1964, QIC was the first domestic insurance company in Qatar. It is listed on the Qatar Stock Exchange
Future uncertain for Germany refinery fed on Russian oil
The PCK refinery in Germany has been processing crude oil from Russia since before reunification, but a looming ban on...The PCK refinery is located in the town of Schwedt in former East Germany near the Poland border
It employs 1,200 people, and many local businesses depend on the custom it brings to the area
Musk not joining Twitter board: CEO
Parag Agarwal announced on Tuesday that Musk was joining the board.Elon Musk, who became the largest shareholder after buying 73.5 million shares in Twitter, has decided not to join its board
A day earlier, Musk called out users who were followed by millions and billions of people on Twitter but rarely posted on it
UAE tycoon slams bogus listicles
Forbes recently published Top 10 Richest Arab billionaires list and was criticized for ignoring many nationalities and known wealthy businessmen.Forbes recently published “Top 10 Richest Arab billionaires” list and was criticized for ignoring many nationalities and known wealthy businessmen
Egyptian billionaire businessman Nassif Sawiris with $7.7 billion topped the Forbes list, followed by Algerian Yassaad Rabab and family at $5.1 billion
AI plays crucial role in GCC’s economic progress
Artificial Intelligence, wired into the economic plans of many GCC countries, is likely to contribute 12.4 percent to Saudi GDP...The Middle East is expected to accrue US$320 billion of the total global benefits of AI in 2030
AI is expected to contribute over US$135.2 billion in 2030 to the Saudi economy
Dubai issues 24,662 new business licenses in Q1 2022
Dubai has issued 24,662 new business licenses in Q1 2022, a report by the Department of Economy and Tourism (DET)...A DET Business Registration and Licensing report said 57 percent of the new business licenses issued during Q1 2022 were professional and 43 percent commercial.
A total of 136,034 business registration and licensing transactions were completed during Q1 2022, a growth of 36 percent compared to Q1 2021.
