IHC net profit soars to US$8.9bn
The company's revenue for the year 2023 stood at US$16.33bn.Business
European markets surge as US jobs data batter rate cut hopes
"The markets continue to forge ahead despite a blowout jobs report from the US last Friday which seems to have...Business
Bahrain authorities allay fears over tomato price rise
Bahrain’s Ministry of Industry, Commerce, and Tourism has announced that big shipments of tomatoes would arrive within the next few...Bahrain’s Ministry of Industry, Commerce, and Tourism has said it is closely monitoring the availability of products in the central markets
The ministry is looking to ensure that there are multiple options for basic food products, such as fruits and vegetables, at the usual prices
People flee Lebanon to Iran in search of employment
Lebanon is grappling with an unprecedented financial crisis that the World Bank says is of a scale usually associated with...Lebanon’s crisis, driven by years of endemic corruption, has seen its currency lose more than 90 percent of its value against the dollar
The monthly minimum wage now fetches around $30 on the black market, with 80 percent of the population now living in poverty
Tesla delivered 1m EVs last year
That is 67 percent higher than deliveries in the year-ago period.The company delivered 1.06 million cars from April 2021 to March 2022
This included more than 310,000 cars in the first quarter of this year alone
Gulf countries warm up to waste-to-fuel plans
Here’s a broader look at how the region has prioritized solid-waste recycling and the production of alternative fuels to deal...Solid waste management is one of the most critical challenges facing all GCC countries
Construction waste accounts for 53% of the total solid waste generated in the Gulf countries
Fitch Ratings says Saudi corporates’ funding mix is evolving
Saudi corporates’ funding mix is evolving, with the debt capital market for firms increasing noticeably and averaging a 10 percent...Fitch also expects the large Islamic banking sector to drive domestic sukuk growth
Local Sukuk issuances have steadily grown in the local capital market, totalling 41 percent of DCM activity in 2021
UAE and Saudi stocks post gains this week
The UAE and Saudi stock markets posted considerable gains this week even as oil prices took a dip with the...TASI rose 15.7 percent during the first quarter of 2022
Abu Dhabi index rose 17.2% over this quarter while the Dubai index grew by more than 10%
DEWA to increase shares for retail investors to 760 million
DEWA has decided to increase number of shares from 260 million to 760 million to be offered to retail investors...This means the number of shares offered in the DEWA IPO has increased from 8.5 billion ordinary shares to 9 billion ordinary shares
Based on the previously announced price range of AED2.25 to AED2.48 per share, the Retail Tranche will now be between AED1.71 billion and AED1.88 billion
Iraq exports oil worth $11bn in March, a fifty-year record
Iraq exported $11.07 billion of oil last month, the highest level for half a century, as crude prices soared amid...The figures published late Friday are preliminary data but final data "generally does not vary" much
Oil revenues are financially crucial for Iraq's government, with the country mired in a financial crisis
Iran to face off with US and England in football World Cup
Having fought to win the respect of Iran's football public, Dragan Skocic now has a World Cup showdown with England...England manager Gareth Southgate admitted he knew little about the Iranian team his side will face on the opening day of the World Cup
FIFA has been urged to punish Iran for refusing to let women into a stadium for their last World Cup qualifier against Lebanon this week
Binance, crypto firm, to hire more than 100 people in UAE
Binance, the world's biggest crypto exchange in trading volume, will hire more than 100 people in the UAE, days after...The firm's links with the Gulf state have deepened in recent months as the UAE tries to style itself as the world’s new digital assets hub and develops regulation
The $2.1 trillion crypto sector is still subject to patchy regulation across the world. US sees high risks in crypto
