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
Egypt and Saudi Arabia to boost bilateral economic cooperation
Hala Al-Saeed, Egypt’s minister of planning and economic development, discussed ways to enhance future cooperation between Egypt and Saudi Arabia...A discussion was held between Egypt's minister of planning and Saudi Arabia's minister of trade.
The minister of Egypt stressed her keenness to consolidate relations between the Egyptian and Saudi business communities.
Stellantis MENA shipments up
Expansion into 10 new countries MENA countries strong driver for growth.The UAE saw a 41 percent increase across all brands from the same period last year, with Jeep increasing sales from 25 percent and PEUGEOT increasing by 70 percent.
Saudi Arabia witnessed a 36 percent growth across all Stellantis products with PEUGEOT being the automaker’s highest performing brand with a 222 percent growth.
Nahdi Medical to list on Tuesday
The company's listing will be the biggest since Aramco.With an offer price of SR131 ($35), Nahdi had raised $1.36 billion from its initial public offering, slightly higher than the $1.2 billion sold by ACWA Power a year earlier
The Jeddah-based pharma retailer currently operates over 1,150 pharmacies across the Kingdom and a rising number in the UAE
Gas production begins at Pegaga
The production started by Abu Dhabi-based Mubadala Petroleum.Pegaga will be a key producing field supplying gas to PETRONAS LNG Complex, in Bintulu, Sarawak, Malaysia.
Mubadala Petroleum has been present in Malaysia since 2010 and is the Operator of Block SK 320 with a 55 percent stake.
ADX embraces FTSE Russell’s Industry Classification Benchmark
The Abu Dhabi Securities Exchange (ADX) has decided to embrace FTSE Russell’s Industry Classification Benchmark (ICB) for all its listed...The introduction of the ICB is part of the transition of ADX indices to the co-branded FTSE ADX index series, under the strategic partnership between FTSE Russell and ADX
The partnership between FTSE Russell and ADX is aimed to develop co-branded indexes and will support the recent launch of ADX’s derivatives market
Licensed firms and SMEs account for bulk of AFZ procurement
Licensed companies and small and medium enterprises (SMEs) accounted for 51 per cent of Ajman Free Zone’s total procurement of...Ajman Free Zone covered 27 per cent of the total purchases and contracts of SMEs alone during the same year.
The Free Zone's procurement policy benefits investors and business owners from more than 165 countries, said Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of AFZ Board.
Salalah Free Zone inks $3.9m deals
The projects will be set up in the Mazaya warehouses.The first agreement is on the establishment of a complex for the trade of plastic products
The second agreement is to establish a complex to assemble communications equipment
India pitches for collaboration with GCC in steel sector
"As part of the Steel Week, one-to-one meetings were held with leading players in steel production and logistics industries based..."One-to-one meetings were held with leading players in steel production and logistics industries based in the UAE," the Indian Ministry of Steel said in a statement
The Indian government has recently launched a flagship scheme for specialty steel called Production-Linked Incentive
New UAE app predicts which cheque will bounce
ChequeScore is an app released by the UAE government-owned Al Etihad Credit Bureau, and can predict the possibility of a...The UAE issued 21 million cheques in 2021, with an average value of $13,900
Despite the recent decriminalization of cheque bounces, UAE businesses must still consider the risks connected with them
Evergrande halts trading again
Evergrande and all its units halted trading in Hong Kong on Monday.On Monday, the company announced that trading would be ‘halted’, bit did not give a reason
Shares of Evergrande Property Services Group and China Evergrande New Energy Vehicle Group were suspended
