GCC Commercial Arbitration Centre to use AI in its operations
Manama, Bahrain-- The GCC Commercial Arbitration Centre has started to harness AI techniques, according to its secretary general, Dr. Kamal...Business
UAE insurance sector assets rise US$3.1bn in 9M 2023
ABU DHABI, UAE - The UAE insurance sector continues to exhibit robust growth, as evidenced by a 9.6 percent increase...Business Banking & Finance Economy
Evergrande shares rise
The Chinese firm has restarted work on 10 projects.Evergrande owes various lenders close to $300 billion, but speculations are rife that it may not be able to pay all of it back
However, after the project restart announcement, shares in the firm rallied more than four percent in early trade
Emirates cancels flights to Sudan after reports of military coup
Emirates has cancelled flights to Khartoum after reports emerged of a military coup in Sudan.The airline said that flights to and from Khartoum, operated by EK 733/734, are cancelled from October 25 to October 27, 2021
“Customers with final destination Khartoum will not be accepted until further notice from any point on the Emirates network”
Al-Ahli Bank of Kuwait net profit $69.6 mn
The bank suffered a net loss of KD 7.9 mn in first nine months of 2020.The bank's total assets increased by 4 percent to reach $17.1 billion.
It launched the first issuance of Kuwaiti dinar-denominated bonds at a value of $165 million.
Aramco, TotalEnergies launch stations
The service stations are part of a joint venture signed in 2019.The joint venture is aimed at upgrading a network of 270 service stations and expanding the range of retail services.
The TotalEnergies stations will house Bonjour Café, while the Aramco stations will feature Fai Café.
Dubai leads MENA region in Global Cities Index
Despite the disruption caused by the coronavirus lockdown Dubai and Abu Dhabi have continued to advance in the race to...The city also leads the Middle East and North Africa (MENA) region in the index
Abu Dhabi secured the fourth spot in the Global Cities Outlook (GCO), rising three places from the seventh position last year
ACWA Power of KSA to build solar power plant in Iraq
Iraq is looking to establish a big solar power plant in the Najaf area that could generate 1,000 megawatts of...In this regard it is in advanced discussions with Saudi Arabia’s ACWA Power, the oil ministry announced on its Facebook page
The ministry said it is close to signing the agreement with the Saudi utility company to generate 1,000 megawatts of solar power in the Najaf Governorate
Volvo Cars sets IPO price
The price is at the bottom end of the range that Volvo announced last weekThe price is at the bottom end of the range that Volvo announced last week
The carmaker also lowered the amount it plans to raise by going public from $2.9 billion to $2.3 billion
Saudi telecom firm Zain reports 36% dip in net profit
Zain KSA, the Saudi telecom firm, has reported a 36 percent drop in net profit to SR143 million in the...The significant dip is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent
Lowering operating expenses and the results of the capital restructuring last year helped compensate for the fall
Alsulaiman Group and Livspace announce a Joint Venture
Both ASG and Livspace have invested about $50 million to fuel regional growth and become market leaders.Both ASG and Livspace have invested about $50 million to fuel regional growth and become market leaders
The JV further plans on strengthening the team by investing in talent across levels while also aiming to reach 500 design partners in the region by 2022
Bahraini Farmers Market returns with Covid-19 precautions
The market, which reportedly aims to promote Bahrain’s agricultural products and highlight the development taking place in the country’s agricultural...This edition of the market will be limited to shops selling local agricultural produce
It will also feature a number of restaurants without the accompanying recreational activities
