BRICS to launch bonds worth US$28bn in local currencies
Tehran, Iran-- BRICS is preparing to launch new bonds in global markets, which will be available in local currencies rather...Business
US sanctions Hong Kong, UAE firms over Houthi support
The move comes hours after US and UK forces launched strikes against the Houthi rebels, seeking to halt their repeated...Business Geostrategy
QIIB 2021 profit at $276m
This was an increase of 7 percent in net profit year on year.QIIB said in its statement that the Earnings per share (EPS) amounted to QR0.59 (around $0.16) as of December 31, 2021
This was against an EPS of QR0.55 (around $0.15) for the same period in 2020marking a rise of around 7.27 percent
Boeing makes $450m air-taxi bet
The investment is in Wisk, which looks to make autonomous air taxis.Boeing has added $450 million to a venture that aims to commercialize autonomous electric air taxis
Wisk envisions some 14 million annual flights serving more than 40 million people in five years
Which are the top equity markets in the Middle East?
Here is a comparison between the top equity markets in the Middle East, and how they stack up against a...Saudi Arabia has Tadawul, or the Saudi stock exchange, whose benchmark index is known as TASI
The UAE has the Dubai Financial Market (DFM) as well as the Abu Dhabi Exchange (ADX)
UAE, Malta trade bodies join hands for industrial cooperation
FUCCI Chairman Abdullah Mohamed Al Mazrouei signed the MoU with Marisa Xuereb, President of the Malta Chamber.The MoU is expected to help both parties expand economic, trade, and industrial cooperation
It is also expected to encourage Emirati and Maltese businesses to form new partnerships
Meta touts supercomputer
The device is up to 20 times faster than Facebook’s current systems.Meta said the machine, known as AI Research SuperCluster, was already in the top five fastest supercomputers
It would apparently become the fastest AI machine in the world when fully built in the next few months
Fitch upgrades Saudi Electricity Company’s rating after improved record
Fitch Solutions has upgraded the Saudi Electricity Company's credit rating from A- to A with a stable outlook, an upgrade...The international agency emphasized that the new classification was driven by the result of the improvement of the company's independent credit record.
The agency said that the company's independent credit rating reflects its large revenues and strong market status in the electricity generation.
Saudi finance minister calls for GCC cooperation
Saudi Arabia's finance minister, Mohammed bin Abdullah Al-Jadaan, has stressed the need for the promotion of the joint Gulf action,...During the meeting, the ministers reviewed the progress made on issues related to strengthening the financial and economic cooperation among the GCC states
The meeting was chaired by the Minister of Finance, Chairman of the current session, Mohammed bin Abdullah Al-Jadaan
Istanbul airport closes down as snowstorm hits region
Europe's busiest airport shut down in Istanbul while schools and vaccination centers closed in Athens as a rare snowstorm blanketed...The closure of Istanbul Airport affected flights stretching from the Middle East and Africa to Europe and Asia
it dealt a major headache for the 16 million residents of Turkey's largest city, which ground to an effective halt
Dubai Land Department and three firms team up to provide real estate data
Dubai Land Department (DLD) has signed memoranda of understanding (MoUs) with three companies that specialize in providing smart and advanced...The department sigs MoUs with Bayut, DXBinteract.com, and Property Finder.
Data will be provided according to real estate construction, including the regional buying and selling prices.
Arada secures $41m in finance
The money will fund Aljada mixed-use project in Sharjah.While AED37m will finance a villa complex within the Aljada community, AED115m will fund the construction of the final phase of the SABIS International School.
Founded in 2017, Arada has since launched three communities in Sharjah. Its first project, Nasma Residences, became Sharjah’s fastest-selling community.
