Boeing expects Q1 hit from MAX troubles
The airline backs intensified oversight from the FAA.Business
Bitcoin crosses $50,000 for first time since 2021
The cryptocurrency has enjoyed a strong run-in recent month, fueled by expectations US lawmakers would allow the creation of exchange-traded...Business
Al-Dawaa of Saudi Arabia to launch IPO at $17.3 per share
Al-Dawaa, a pharmaceutical retail firm in Saudi Arabia, has set the price range for its initial public offering at SR65...The company earlier announced it was offering 25.5 million shares in an IPO, or 30 percent of its capital of SR850 million through a sale by existing shareholders
Institutional subscription has also started on Sunday, where they are initially allocated 100 percent of the offering
QLM net profit up 8 percent
The insurer reported a growth of 16 percent in underwriting income.The Company’s net profit for the Year 2021 is QAR 106.2 million compared to QAR 98 million in 2020, a growth of 8 percent.
The company’s board has recommended a cash dividend of 22 percent (QAR 0.22 per share).
Ras Al Khaima issues 1,749 business licenses in 2021
The Emirate of Ras Al Khaima has given out 1,749 business licenses in 2021, a thirty-six percent jump over the...Commercial sector licenses increased by 921, accounting for 53 percent of the total issued licenses, an annual growth of 30 percent compared to 2020
It was followed by industrial and professional licenses at annual growth rates of about 47 percent and 46 percent respectively
Expo 2020 Dubai warns of fraud over Coldplay concert tickets
Some free tickets for the February 15 concert of British music band Coldplay were apparently being resold online for money.Expo 2020 Dubai has warned that the many copies of the same ticket may be sold online
Each ticket has a QR code that can be scanned only once, to deter exactly such practices
Saudi crown prince transfer 4% Aramco shares to PIF
The transfer was part of Saudi Arabia’s long-term strategy to support the restructuring of its economy, in line with Vision...The shares are expected to bolster the PIF’s strong financial position and high credit ratings in the medium term
The transfer will support the PIF’s plans to grow its Assets under Management to around SAR4 trillion (around $1.07 trillion) by 2025
Big oil firms rebuked
Big oil companies said their 2021 profits were $66.7 billion.The whopping 2021 profits of Shell and BP triggered calls for a windfall tax on the profits of energy firms in the UK
French Presidential candidate Yannick Jadot also spoke out against profits made "on the back of French men and women"
UAE indices witness a great week
The Saudi Stock Exchange’s main index TASI started and ended the week with a 0.5 percent rise despite the fluctuation.Al-Rajhi Bank and Riyad Bank led the Saudi index higher on Sunday as both saw their shares rise by 0.5 percent
TASI continued to fall on Wednesday, as it offset losses in the financial sector with increases in the telecommunications industry
Gulf insurance set to cross $31bn mark by 2026
The market is expected to grow at an annualized growth rate of 3.2 percent, from $26.5 billion in 2021 to...UAE's GWP share is predicted to rise at a CAGR of 4.1% between 2021 and 2026
A CAGR of 1.6% is predicted for Saudi Arabia thanks to Vision 2030 infrastructure plans
The annual Sharjah Heritage festival to kick off in March
Armenia will be the official guest of honor this year due to its rich and diverse cultural stock, while Indonesia...The Sharjah Institute for Heritage (SIH) announced that the festival’s slogan will be "The Heritage and the Future"
A total of 33 countries would participate in the event including Saudi Arabia, Oman, Kuwait and Qatar from GCC
Turkey slashes sales tax on food items as inflation surges
Turkish President Recep Tayyip Erdogan on Saturday slashed sales tax on dairy products, fruit, vegetables and other basic food items...The rising cost of living has become a major source of public discontent in Turkey, where it is expected to feature prominently in next year's presidential election
Inflation hit 48.69 percent in January, the highest level since Erdogan's Islamic-rooted party stormed to power two decades ago
