Total M&A market drops to US$3.2trn in 2023, says report
DUBAI, UAE - The total M&A market dropped 15 percent, to US$3.2 trillion, the lowest level in a decade, as...Business Economy
Jordan’s EMRC grants approvals for EV charging infrastructure
AMMAN, JORDAN - The Energy and Minerals Regulatory Commission (EMRC) has issued over 300 authorizations for the installation of electrical...Business Energy Geostrategy
AD Ports, Kuwait GAC sign MoU
The port operator will develop a virtual trade corridor between the two countries.AD Ports Group’s digital arm, Maqta Gateway, will develop the new virtual trade corridor based upon its Advanced Trade & Logistics Platform.
The MoU will also provide for accelerated procedures for expediting shipments of perishable goods, reducing dwell time at borders.
Saudi Arabia shows interest to develop nuclear reactors
Saudi Arabia has evinced interest to develop small modular nuclear reactors in order to generate electricity for remote areas of...The kingdom's Minister of Energy, Prince Abdulaziz bin Salman, said that Saudi Arabia isn’t looking for funding from any country to help it with its energy transition plan
“The future of the world and society lies not in us waiting for someone else to build the things we should use, but for us to build them ourselves,” he added
Saudi Arabia supports SMEs with $80bn cash injection
In order to protect SMEs from economic recession, Saudi Arabia provided more than $80 billion in support to the businesses,...Saleh Al-Rahseed, speaking at GEC 2022 in Riyadh, said the Kingdom gave confidence to entrepreneurs and innovative companies not only by giving them cash but all kind of support
“It wasn’t just cash injection that helped Saudi SME’s during the pandemic” he said
How Ukraine war left China’s ‘Nickel King’ on hook for billions
The nickel market is dominated by a handful of players, including Tsingshan, founded by Xiang Guangda.The silver-white metal's price hit a record $100,000 per ton as western sanctions were imposed on Russia for invading Ukraine
Official data has revealed that China holds around 100,000 tons of nickel in state reserves
In a ‘dangerous’ land: tourists trickle back to Iraq
Retirees and YouTubers, on package tours or lugging backpacks, are braving Iraq's still basic tourist infrastructure to visit ancient sites...Western governments still issue travel warnings for tourists heading to Iraq, highlighting the risks from kidnappings and bombings
Around 107,000 tourists visited Iraq in 2021, which is three times more than the number in 2020
UAE-Turkey real-estate conclave to tap into new opportunities
Called the UAE-Türkiye Real Estate Development Construction Roundtable, it will be held on Wednesday, March 30.The meeting will look to widen the trade corridor and strengthen economic ties between the two countries, besides building new collaborations
It will reportedly be hosted by the UAE-Turkish Business Council, in association with the Foreign Economic Relations Board of Türkiye (DEİK)
Russians can do business in Turkey, says minister
Turkey’s Foreign Minister Mevlut Cavusoglu has said Russia's oligarchs can continue to do business in his country so long as...The measures targeting the possessions of Russia's oligarchs were not approved by the UN but by western countries
They have imposed measures against Russia like placing oligarchs and other individuals close to Putin on sanctions lists
Jordan to soon resume oil imports from Iraq’s Kirkuk fields
Jordan imports crude from Iraq under an MoU that was signed by the two governments on January 28 last year.The exports were suspended in early February, pending discussion of details in the MoU
The oil will reportedly be transported to the Jordan Petroleum Refinery in Zarqa
Microsoft addresses graft charges
An ex-employee said it paid bribes in the Middle East and Africa.A former employee has said he was fired after working for Microsoft from 1998 to 2018 in Africa
He said he saw company employees involved in corrupt practices in several countries in the region
Riyadh, Dubai lead IPO surge in GCC
For the second time since the global financial crisis, the Middle East has surpassed Europe in terms of IPOs as...The proceeds of IPOs from Riyadh to Abu Dhabi have totaled $4.8 billion since the beginning of 2022
Saudi Arabia has the busiest stock market in the Middle East in terms of IPO activity
