Al Mal Capital REIT to launch rights issue
The fund has an existing portfolio valued at US$158m.Business
Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...Business Energy Geostrategy Global
DP World Q4 volume up 2.6%
The gross container volumes rose by 9.4% year-on-year.DP World has said its gross volume growth in 2021 overall was reportedly broad based
India, Asia Pacific, Middle East & Africa, Europe, Australia, and the Americas were key growth drivers
Participants from 42 countries to attend Abu Dhabi Date Palm Conference
The 7th International Date Palm Conference will be held at Emirates Palace Hotel, in Abu Dhabi, from 14th to 16th...Minister of Tolerance and Co-existence Sheikh Nahyan said that this year's conference is significant by all standards.
475 international researchers and experts will participate in the conference being held from 14-16 March.
UAE and France aim to team up to meet energy challenges
The UAE and France held discussions on energy challenges and opportunities for collaboration in order to maximize energy system efficiency...The discussion took place between Awaidha Al Marar, Chairman of the Abu Dhabi Department of Energy, and Xavier Chattel, Ambassador of France
Al Marar and Chattel underlined the importance of leveraging partnerships, Research & Development, and policymaking capabilities
Saudi sukuk issuance in 2021 reaches $36.9 billion: S&P Ratings
Saudi companies and government raised $36.9 billion sukuk in 2021, compared to $27 billion in 2020, an increase of 37...In 2021, the global sukuk issuance reached $147.4 billion compared with $148.4 billion in 2020.
Foreign-currency denominated sukuk issuance increased by 10 percent; jumbo issuances in Saudi have contributed to this increase.
Protests erupt in Lebanon against harsh economic policies
A group of engineers in Lebanon held a sit-in protest outside the Central Bank branch in Sidon, in conjunction with...The headline of the protest was, “Until rights are restored” & “For the right to hospitalization and a decent retirement
They deemed that “the banks are seizing the funds and savings of engineers and depositors in general, and imposing controls
Fitness Time posts $54.9m net profit
The operator of the largest Saudi gym chain also sees growth in revenues.This was buoyed by a growth in revenues of SR223 million, a SR9.75 million decrease in the cost of revenue, and a fall in other costs by SR32.3 million
The income from personal training was up SR20.5 million and rental income surged due to new rental contracts during the year.
UN lauds ‘constructive’ talks in Yemen on rusting oil tanker
The UN's humanitarian coordinator for war-torn Yemen said he held constructive talks with government officials and Houthi rebels over dealing...Experts warn of the risk of a major environmental disaster posed by the 45-year-old FSO Safer, which lacks both power and a functioning fire fighting system
"The risk of imminent catastrophe is very real," stressed the UN's David Gressly in a statement
Saudi sovereign wealth fund PIF has $1.2 bn stakes in two Japan gaming firms
RIYADH: Saudi Arabia’s biggest sovereign wealth fund, Public Investment Fund, has stakes of more than 5 percent in two Japan-listed...The PIF has stake of more than 5 percent in Capcom Co., the maker of the Street Fighter and Resident Evil franchises, and online games provider Nexon Co.
PIF’s stake in Capcom is worth about $332 million based on Friday’s share price, according to Bloomberg.
Saudi Arabia’s Nomu to see two listings
Gas Arabian Services and Obeikan Glass will make debut on the parallel market.Gas Arabian Services, having been run by the family for 30 years, aims to spend an average of 2 years on Nomu before moving to the main market
Riyadh-based Obeikan Glass was founded in 2007 and specializes in glass manufacturing and retail
3,000 new rooms added to Egypt’s total hotel capacity, says tourism ministry
Egypt has added 3,000 new hotel rooms to its total hotel capacity with the opening of 19 new hotel facilities,...Construction of 19 new hotel facilities in several governorates has led to the creation of these rooms.
According to tourism ministry officials, the new facilities have created 2,500 job opportunities.
