Oman Investment Authority launches fund worth US$5.19 billion
Muscat, Oman--The Oman Investment Authority (OIA) has unveiled a new fund called “Future Fund Oman” valued at US$5.19 billion.The fund...Business
Sharjah Chamber discusses collaboration with AAAID on trade, investment
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) has held discussions with the Arab Authority for Agricultural Investment and...Business
Obeikan Glass net profit up 900 percent
The Saudi manufacturer’s revenue rose 77 percent year-on-year.The firm, which recently joined the Saudi stock exchange, attributed the improved performance to an increase in sales volumes.
Obeikan Glass Company says it is the largest glass manufacturing facility of its kind in the Middle East region.
Jordan’s real estate trading at JD73 5mn in 2022
The Department of Land and Survey (DLS) revealed that the revenue in the first two months of 2022 stood at...The Department of Land and Survey (DLS) revealed that the revenue in the first two months of 2022 stood at JD32.4 million up 15% from the figure reported in 2021
Overall real estate sales in the Kingdom in the period decreased by 10 percent, as apartment sales declined by 5 percent
Aluminium, copper prices hit records on Ukraine fallout
Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne.Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne
Commodities have been red hot since Russia's assault on its neighbour, with gold on Monday back above $2,000 an ounce
Australian power firm rejects green billionaire’s takeover bid
AGL Australia's largest energy company said its board had over the weekend rejected a joint bid of $8.25 (US$6) per...AGL Australia's largest energy company said its board had over the weekend rejected a joint bid of $8.25 (US$6) per share from Cannon-Brookes, founder of the tech firm Atlassian
The firm said in a statement to the Australian stock exchange that the buyout proposal was still "well below the fair value of the company."
UAE, Israel work to secure region’s food needs
Government support, coupled with strong social systems, must ensure that no one goes hungry, says Nobel Laureate Dr Dan ShechtmanEnhancing collaboration between research institutes and agritech companies in Israel and the UAE will be pivotal to secure region's food future, say Israeli experts
Arab region needs to develop the knowledge to grow crops in arid conditions, says Dan Shechtman of Israel Institute of Technology
Saudi Arabia teams up with China to produce UAVs in kingdom
Saudi Arabia has teamed up with China to manufacture unmanned aerial vehicle payload systems in the kingdom.The agreement was signed between Saudi Advanced Communications and Electronics Systems Co., ACES and China Electronics Technology Group
This came after the Riyadh-based telecommunication firm established a new company for unmanned aircraft in the Kingdom, under the name of Aerial Solutions
Yanbu Cement reports dip in profit
Yanbu Cement Co., one of Saudi Arabia's largest cement producers, has posted a forty three percent dip in net profit...The Jeddah-based company, apart from seeing a drop in the net profit, saw its annual revenue fall slightly from SR940 million to SR934 million year-on-year
The company attributed the dip in earnings to lower selling prices that weighed on the company's revenue.
Saudi Arabia hikes oil price as Russia-Ukraine war presses on
Saudi Arabia has hiked oil prices for all regions after the crude oil prices soared to more than $115 a...Saudi Arabia's state oil producer Aramco raised the official selling price
Aramco hiked all prices for the American customers by $1
Turkey tourism industry bemoans Russia-Ukraine war
Every Sunday Noori Sani welcomes his old friends around a bountiful Turkish breakfast in Istanbul. But surrounding him now are...Within a few days of Russia's invasion of Ukraine on February 24, Ukrainians and Russians cancelled reservations for trips of Turkey
Visitors from Ukraine and Russia made up over a quarter of all tourists who arrived in Turkey last year, tourism ministry reported
Saudi Arabia and Egypt to cooperate in telecommunications
Saudi Arabia and Egypt have signed an agreement to strengthen cooperation between the two countries in the fields of telecommunications,...The memorandum serves to work on cooperation and exchange of experiences in the field of smart cities also
It also includes agreements to coordinate joint events, and to design training programs and workshops
