Oil prices rise after US, UK strike Houthi rebels
Oil prices surged four percent after US and UK forces launched strikes against Iran-backed Houthi rebels after attacks on ships...Business Economy Energy Geostrategy
QNB net profits up 8% in 2023
The QNB Group posted a net profit of $4.25 billion.Company News Business
Arriyadh Development of KSA posts 40% jump in net profit
Arriyadh Development Co. posts a forty percent jump in net profit to $85 million for 2021.Results were derived from the associate company's business, as well as the increase in operating and rental revenues
The company will distribute cash dividends of SR88.8 million to the shareholders for the second half of 2021
The board of Al Rajhi Bank favors capital hike to $10.7bn
Al Rajhi Bank has recommended a sixty percent increase in the bank’s capital to $10.7 billion.The capital will be increased by granting SR15 billion in bonus shares to the bank’s shareholders
The eligibility to get bonus shares will be given to shareholders owning the stocks by the end of the trading day of the bank’s Extraordinary General Assembly meeting date
UAE inks deal to make medications more affordable
The initiative will provide affordable medicines to uninsured and low-income expat patients or those whose insurance does not cover the...The MoU was signed by the Ministry of Health and Prevention of the United Arab Emirates (UAE)
It was inked with Janssen Pharmaceutical Companies of Johnson & Johnson, and healthcare consulting firm Axios
The price of love: Pandemic fuels romance scam
Cancelled dates over supposedly positive Covid tests and disrupted travel plans due to lockdowns are ruses that feed into the...Thousands of people fall prey to 'romance scams' every year, whose numbers rose during the Covid pandemic
Cryptocurrencies and untraceable online transaction is fueling scams with bogus investments and gift cards
Lebanon’s ‘zombie banks’ downsize to weather crisis
More than two years into a financial crisis that has seen the local currency lose 90 percent of its value,...The financial collapse that began in Lebanon in late 2019 has been deemed by the World Bank one of the world's worst since the 1850s
However, before that the country had an oversized but prosperous banking sector, which has since come to be blamed for the economic crisis
Golden Visa to boost Bahrain business attractiveness: Expert
The Bahrain Golden Visa was recently announced during a Cabinet meeting chaired by Crown Prince and Prime Minister Salman bin...To qualify for the Golden Residency Visa, existing residents must have stayed in Bahrain continuously for at least five years
They must also have earned an average basic salary of no less than BHD 2,000 ($5,305) per month throughout the duration
Cloud tech gains strength in GCC
Cloud market in UAE is at emerging stage and is likely to witness rapid growth in the coming years due...Cloud market in UAE is at emerging stage and is likely to witness rapid growth in the coming years due to high adoption rate among SME’s and the digital transformation agenda.
Saudi Arabia represents a significant revenue opportunity for cloud providers as times change and network connectivity becomes an inevitable necessity for businesses
UAE sees climate action as catalyst of economic prosperity
UAE’s Minister of Industry and Advanced Technology, and UAE Special Envoy for Climate, Sultan Ahmed Al Jaber has said that...The minister noted the need to increase investments in agri-tech and leverage best practices that safeguard vulnerable nations' food and water security
He was speaking at the Munich Security Conference titled "Scaling Up Climate Action" where he reiterated the UAE's support for robust climate finance
UAE to allow cooperative associations to trade in markets
The UAE has announced that it will allow cooperative associations to trade their shares in financial markets, according to media...United Arab Emirate's cabinet of ministers has approved this new decision
The move aims to strengthen the regulatory environment of the cooperative sector
UAE and Hungary to collaborate in energy sector
UAE Energy Strategy 2050 aims to increase the contribution of clean energy in the total energy mix from 25 per...The two sides also discussed an exchange of expertize and best practices in infrastructure, housing and transport
The ministers of UAE and Hungary met on the sidelines of Dubai Expo 2020 and discussed cooperation in energy
