‘Global Collaboration Village aims to digitize and democratize WEF dialogues’
DAVOS: The future of global collaborations is being shaped by innovation and the ubiquitous embrace of immersive technologies, which continue...Technology Business Economy
Wheels in motion for investors as two Gulf carriers plan 2025 IPOs
UAE's Etihad Airways and Saudi Arabia's Flynas are preparing to listing on local stock markets, the first IPO by Gulf...Business
Elie Saab to showcase Riyadh Season Fall Collection 2025
Riyadh, Saudi Arabia -- Renowned fashion designer Elie Saab will unveil the Riyadh Season Fall Collection 2025 after signing an...Elie Saab and General Entertainment Authority CEO Faisal Bafarat signed an MoU in London.
The Authority said the MoU will create a one-of-a-kind experience that intertwines fashion and entertainment during the upcoming Riyadh Season.
Dubai records $2.74 billion in weeklong real estate transactions
Dubai, UAE -- The real estate and properties transactions valued at 10.1 billion ($2.74 billion) in total during the week...A total of 209 plots were sold for AED 2.19 billion, 2,100 apartments and villas were sold for AED 4.84 billion.
The sum of the amount of mortgaged properties for the week was 2.28 billion, with the highest being a land in Al Raffa, mortgaged for AED 269.5 million.
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...The BRICS bank will soon release the bonds called ‘Maharaja Bonds’ worth $28 billion
The new bonds will be made available for governments, financial institutions, and regular investors
ADQ, ADNEC to buy stake in TMG
The two will acquire 40.5% stake in the Egyptian firm.The two firms will invest through a special purpose vehicle, with 49 percent equity ownership by ADQ and 51 percent equity ownership by ADNEC
The buying of a stake represents a major foreign direct investment in Egypt and marks a strong vote of investor confidence in the Egyptian tourism and hospitality sector
PIF’s diverse investments transform Saudi economy
From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future...From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future for the the Kingdom's economy.
The PIF's diverse industry launches and acquisitions, managing $701 billion in assets, have created over 644,000 jobs in pharmaceuticals, aviation, and tourism sectors.
Biggest fuel refinery plant of Africa begins production
Lagos, Nigeria - Africa's biggest diesel and aviation fuel refinery built by the continent's richest man has started production, the company...The 650,000 barrel-per-day Dangote refinery could be a game changer when fully operational by helping end Nigeria's reliance on fuel imports.
The facility sits on 2,635 hectares (6,500 acres) of land at the Lekki Free Zone on the edge of Lagos city and cost an estimated $19 billion.
DEWA records 12.5 million digital transactions in 2023
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in...DEWA offers digital services for electricity and water management, as well as innovative sustainability services.
These include smart living initiative, features like consumption monitoring, comparison with high-efficiency homes.
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...The two companies designated on Friday by the US Treasury Department were Hong Kong-based Cielo Maritime and UAE-based Global Tech Marine Services
They were said to have shipped Iranian commodities on behalf of the network of Houthi financial facilitator Sa'id al-Jamal, said the Treasury
Delta reports profit jump
Its revenue jumped to $14.2 billion for the quarter.The company reported net income of more than $2 billion for the October to December period, up from $828 million for the same period in 2022
Delta shares slumped by more than eight percent around midday on Friday, while rival United Airlines saw its shares plunge by 9.4 percent
Oil prices rise on Red Sea escalation, corporate earnings season
Crude prices spiked more than four percent before ebbing somewhat after the allies launched deadly strikes following weeks of disruptive...In Friday trade, the Dow dipped while the S&P 500 edged higher as investors digested corporate earnings and a surprise drop in wholesale inflation
Leading banks were mostly lower following a deluge of quarterly results, while airlines were hammered after Delta's forecast disappointed investors
