Egypt denies suspending navigation through Suez Canal
Cairo, Egypt - Egypt Saturday said that navigation movement in the canal is regular from both directions, Chairman of the...Business Geostrategy
Lunate Capital launches Shariah-compliant ETF tracking Indian equities
ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid,...Business Economy Markets
Aramco stock rises 4%
Recently, a 4% stake of the oil giant had been transferred to PIF in an $80bn deal.The share price hit SR39.3 ($10.5) yielding a market cap of $2.09 trillion
Earlier in the session, the shares hit an all-time high of SR40 ($11)
Aramco head calls for sustained investment in oil sector
Saudi Aramco President and CEO Amin H Nasser urged companies and governments to continue investing in the oil sector to...Nasser revealed that Aramco continued investing in 2020 even during the COVID-19 pandemic
Aramco increased the spare capacity from 12 million barrels per day to 13 million bpd in 2020
Syria accords rare approval to telecom firm to begin operations
Syrian authorities on Monday granted a rare license to a new telecommunications company that will start operating in nine months,...Wafa Telecom will become Syria's third telecoms operator in a market currently controlled by Syriatel and MTN
Wafa Telecom CEO Ghassan Saba said the company relied on foreign expertise, amid reports of Iranian investments in his firm
Bahrain-based GFH Financial Group launches GCC $100m Sukuk Fund
GFH Financial Group (GFH), a Bahrain-based Islamic investment bank, has announced that is has launched and seeded a $100 million...The bank signed an agreement with Credit Suisse to provide financing and fund administration services.
GFH said it aims to generate returns to the fund through active asset allocation, credit selection, optimal leverage and duration management.
Using alternative sources of energy saved UAE $191 bn: Suhail Al-Mazroui
UAE has saved $191 billion by using alternative sources of energy, according to Suhail Al-Mazroui, UAE energy minister. Speaking at...Energy minister Suhail Al-Mazroui said his country is working on 40 international projects helping other countries implement solar and wind projects.
UAE has plans to capture 25 percent of the global hydrogen market share, Al-Mazroui told IPTC 2022 Riyadh.
Kuwait Airways to buy 31 jets from Airbus for $6bn
Kuwait Airways announced an expanded, $6 billion deal with Airbus that includes 31 new planes on Monday, restructuring an agreement...The deal comes after occasionally "heated" negotiations following probes over allegations of kickbacks surrounding the initial, 25-plane order
The new agreement includes nine Airbus A320neo, six A321neo, three A321neo LR, four A330-800neo, seven A330-900neo and two A350-900
Net foreign investment on Abu Dhabi Exchange the highest ever in 2021
ADX’s market liquidity jumps five-fold in 2021 amid IPO boom, as traded values on the exchange increased 407 percent from...Traded values on the exchange increased 407 percent from AED 145 billion ($39.47 billion) in 2020 to AED 739 billion in 2021.
Local investors accounted for 70 percent of the exchange’s traded value, while foreign institutional investors accounted for 30 percent.
Jordan records 17% spike in export of agricultural products
Jordan has recorded a seventeen percent increase in the export of agricultural products to JD734 million in 2021, compared with...Khaled Hneifat, Minister of Agriculture, said that agricultural exports comprised 17.1 percent of the Kingdom's total exports in third quarter of 2021
Hneifat noted about 61,000 tons of imported agricultural produce were either resent to origin or destroyed after failing to meet Jordanian standards
Bahrain lays foundation stone for United States Trade Zone
The ceremony among others was attended by the Minister of Industry, Commerce and Tourism Zayed bin Rashid Al Zayani and...The ceremony among others was attended by the Minister of Industry, Commerce and Tourism Zayed bin Rashid Al Zayani and US Ambassador to the Kingdom of Bahrain Steven C. Bondy
The USTZ project follows the visit of the UAE's Crown Prince and Prime Minister Salman bin Hamad Al Khalifa to the USA in November 2019
Israel’s economy minister visits Morocco to cement trade ties
The minister is visiting Rabat, economic capital Casablanca, and tourist hub Marrakesh as well.Israel Economy Minister Orna Barbivai arrived in Morocco for a visit aimed at developing economic and trade ties
Rabat purchased Israeli defense technology after an a visit by the Israeli defense minister in November 2021
