Business - TRENDS MENA

Singapore's United Overseas Bank will buy the franchises
The total price of the Singapore's United Overseas Bank acquisition is Sg$4.9 billion ($3.6 billion).
As part of the deal, around 5,000 Citi employees are expected to transfer to UOB, the lenders said.
A total of 18,068 transfers were registered, against 17,190 in 2020, a rise of 5 percent. The top 10 transfers...
Spending on transfer fees was $4.86 billion, down 13.6 percent from 2020 and 33.8 percent from the record levels of 2019
Players from France accounted for the highest amount of spending, with $643 million, displacing Brazil from the top spot
It has also has assigned the Qatari bank an A2 rating.
Moody's said the rating reflects the bank’s position as one of Qatar's leading Islamic financial institutions
It added that the financial institution has solid asset quality, profitability, liquidity, and capitalization
Block is building a system to mine bitcoin.
Block changed its name from Square late last year to denote a broader mission that includes blockchain and economic empowerment
Hardware and software teams at Block will openly collaborate with the cryptocurrency community outside the San Francisco-based company
GCC Secretary-General Naif Falah Al-Hajraf and Chinese State Advisor and Minister of Foreign Affairs, Wang Yi, also agreed on a...
In a joint statement, the Chinese side is said to have praised the GCC’s achievements since its inception 40 years ago
The two sides concurred on the completing negotiations on the free trade agreement between the GCC and China as soon as possible
The region’s coffee market growing rapidly creates new business opportunities, says Ali Al-Ebrahim, founder and CEO of COFE.
Coffee consumption in MENA has experienced a massive shift, with sales growing at twice the global average
Coffee has been at the heart of Middle Eastern culture for centuries
Researchers in the United States, who estimated the current cost at $2.1 trillion every year, said the effects of stifling...
The researchers looked at data on humid heat — particularly dangerous because the body is less able to cool down by sweating
The study, published in the journal Environmental Research Letters, said around 677 billion work hours are lost a year to humid heat
DEWA-SAT 1 was launched on a SpaceX Falcon 9 rocket.
DEWA-SAT 1 was launched on a SpaceX Falcon 9 rocket from the Cape Canaveral Space Launch Complex (SLC-40) in Florida in the US
The launch made DEWA the world’s first utility to use nanosatellites to improve the maintenance and planning of electricity and water networks
Saudi Arabia’s Minister of Investment Khalid bin Abdulaziz Al-Falih said that the mineral resources sector is among the most important...
General program for Geological Survey results in issuing 75 new exploration licenses after the launch of the new Mining Investment Bylaw in January 2021.
Estimations put the value of mineral resources in the Kingdom of Saudi Arabia at $ 1.3 trillion.
Oman and the United Kingdom have agreed to bolster relations and high-value investment volume, Omani media reports said. To this...
The trade volume between the two countries reached GBP 1 billion ($1.37 billion) annually.
Direct British investments comprise 50 percent of the foreign investments volume in Oman over the past years.