Ghitha 2023 revenue at $1.2bn
Ghitha reported an operating profit of $69 million in 2023.Company News Business
Moody’s forecasts stable outlook for GCC banks
Moody’s has forecast a stable outlook for GCC banks during the next 12 to 18 months, primarily due to economic...“Banks’ asset quality will remain high, even as non-performing loans rise slightly as repayment holidays expire”
GCC governments have ample capacity to support banks in a crisis remains very high, thanks to large sovereign wealth funds
KSA and Oman draw closer, sign deals worth $30bn
Saudi Arabia signed deals with Oman valued at $30 billion, state media said Tuesday, as Crown Prince Mohammed bin Salman...Saudi and Omani companies "signed 13 memoranda of understanding worth $30 billion", the official Saudi Press Agency reported
According to SPA, he will also visit the United Arab Emirates, Bahrain, Kuwait, and Qatar
Pandemic turns out to be a boon for billionaires
The share of global wealth of the world's richest people soared at a record pace during the Covid pandemic, a...Since 1995, the slice held by billionaires has risen from one percent to three percent, according to the World Inequality Report
The club of the richest one percent has taken more than a third of all additional wealth accumulated since 1995, while the bottom 50 percent captured just two percent
Rohingya sue FB for $150bn
The complaint says Facebook's algorithms target susceptible users.Facebook has been sued by Rohingyas over allegations that it promotes disinformation and extremist thought against Muslims in Myanmar
According whistleblower Frances Haugen statement, Facebook is "fanning ethnic violence" in some countries.
‘Saudi women entrepreneurs have it easier now’
Boundary-pushing journalist and entrepreneur Muna AbuSulayman tells TRENDS how things have changed for businesswomen in Saudi Arabia.Young entrepreneurs who have never worked before struggle severely, and their businesses fail early, says Muna AbuSulayman
Influencers should create important and meaningful content for this new world and the new generations, she adds
Evergrande to restructure debt
It also formed a risk committee before upcoming payment deadlines.The company's struggles to meet its commitments have fanned concerns about China's property sector
The sector forms a substantial part of the world's second-biggest economy
Saudi Arabia, Oman ink 13 business deals
The deals were inked by Oman Investment Authority firms with Saudi counterparts as Saudi Crown Prince Mohammed bin Salman visited.OQ signed three MoUs in the fields of petrochemicals, renewable energy and green hydrogen sector
In the field of dry dock and logistic services, Asyad signed an MoU with a Saudi shipping company
Israel brings new law on cyber exports after Pegasus scandal
An updated Israeli end user certificate issued Monday, to be signed by buyers, listed terrorism as including offences committed with...An agency for military exports liked to Israel’s defense ministry put out the law
It specified that a foreign state seeking a cyber or intelligence system must only use it to combat terrorism and ‘serious crimes’
DEWA launches EV Green User Dashboard
The EV Green Charger User Dashboard allows customers to manage multiple EV Green Charger cards, and pay their bills.The dashboard enables customers to track their charging and consumption data through DEWA’s website/smart app
DEWA provides its EV Green Charger service to all electric vehicle users in Dubai, including local and international visitors
Natixis of France to fund ACWA Power projects with $2bn
Natixis Corporate and Investment Banking of France has signed an agreement to finance ACWA Power projects over the next two...The MoU will allow both parties to “explore opportunities to develop new projects in the region,”
Natixis has previously underwritten some of the Saudi-listed firm’s high-profile renewable projects, including the Sakaka solar project
