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
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
IEA gives third term to chief for guiding shift to clean energy
The International Energy Agency approved a third term for executive director Fatih Birol as the organization seeks a faster transition...The Turkish economist, who has been in the role since September 2015, will serve for another four years from September 2023
The agency has since its inception focused on the energy security of developed countries but its mission was officially extended this week to search for carbon neutrality
Oil prices, stocks higher after EU snubs Russia ban
European stocks, which had been firmly higher earlier in the session, ended the day with only modest gainsEuropean stocks, which had been firmly higher earlier in the session, ended the day with only modest gains
Bitcoin rose above $45,000 as Moscow is expected to accept cryptocurrency in exchange for Russian gas
Aramco lifts TASI as UAE stocks see weekly gain
The Abu Dhabi Stock Exchange achieved weekly gains of 1.7 percent, while that for the Dubai stock exchange was 1.9...The Abu Dhabi index closed up by 0.2% on Thursday; and 0.3% on Friday
TASI remained unchanged on Thursday, as losses in financial businesses canceled out the gains
UAE and Dutch export credit firms to bolster cooperation, facilitate halal trade
Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed a Memorandum of Understanding (MoU) with its Dutch counterpart...Etihad Credit Insurance and its Dutch counterpart Atradius DSB to bolster collaboration through joint strategic projects.
The partnership also seeks to facilitate stronger halal trade through ECI’s Sharia-compliant finance solutions.
SALIC of Saudi Arabia to buy 35% of Olam Agri for $1.24bn
SALIC of Saudi Arabia, a subsidiary of the PIF, has said it will acquire 35.43 percent of Olam Agri Holdings...SALIC said that the transaction is expected to be completed in 2022 after obtaining the required approvals from the relevant authorities
Olam is one of the world’s leading commodity trading and processing companies specializing in grains, oilseeds, rice, and animal feed
Qatar blasts Netherlands coach for World Cup criticism
Qatar's top World Cup organizer has hit back at Louis van Gaal for criticizing the decision to hold the event...Van Gaal said this week that it was "ridiculous" for the World Cup to be held in Qatar and that FIFA had only been motivated by money
Hassan al-Thawadi, chief executive of the World Cup Supreme Committee, said Arab fervor for football was "unparalleled"
Weeklong real estate deals worth $1.85 billion recorded in Dubai
The real estate and properties transactions worth AED6.8 billion ($1.85 billion) were recorded in Dubai during the week ending 25...A total of 330 plots were sold for AED1.65 billion and 1,653 apartments and villas were sold for AED3.42 billion.
A total of 124 properties worth AED210 million were granted between first-degree relatives.
Saudi Arabia wants Trojena on global tourism map
Trojena is the new mountain tourism destination whose establishment was recently announced by Saudi Crown Prince Mohammed bin Salman.Trojena aspires to redefine visitors’ and residents’ perceptions of mountain tourism
The project will be launched in 2026 and will be located in the heart of NEOM
Multiply Group to invest AED367m in DEWA IPO
Multiply Group has said that it will be investing AED367 million into the Dubai Electricity and Water Authority's (DEWA's) initial...The Group's latest investment follows a series of strategic acquisitions, creating a unique technology-enabled ecosystem to pursue growth across five vertical segments
Multiply Group benefits from a solid leverage-free liquidity position, having raised AED3.1 billion in a pre-listing private placement 16 times oversubscribed
