Oil prices slump but stock markets mostly higher
Wall Street indices enjoyed solid gains, including the Dow, which mustered a 0.6 percent advance in spite of an eight...Business Energy
Markets drop as US jobs deal fresh blow to early rate cut hopes
Hong Kong, China - Asian markets stumbled out of the gates Monday, extending last week's grim start to the year, after...Business Markets
Safari lands Saudi contracts
The contracts pertain to managing the King Fahd Causeway.Safari has been awarded all three facilities management packages by the King Fahd Causeway Authority
According to the five-year contract, Safari will provide over 500 staff to maintain and enhance the aesthetics and functionality of the causeway
Sharjah Sustainable City builds on green concept
The project, which covers 7.2 million square feet of land in Al Rahmaniyah area, builds on the concept of future...The project extends over an area of 7.2 million square feet of land in the Al Rahmaniyah area of Sharjah, supporting the urban development of the Emirate
The city is designed to cover all three elements of sustainability - social, economic, and environmental
Saudi EXIM Bank and SMBC sign MoU to streamline businesses
The Saudi Export-Import Bank and Sumitomo Mitsui Banking Corporation (SMBC) have signed an agreement under which the two will work...Saudi EXIM Bank says MoU is one of many it is pursuing to help Saudi exports grow.
The SMBC will explore securitization or letters of credit to creditworthy Saudi exporters and Japanese importers.
ADH revenue, profit up by end of Q3
Rise in net profit attributed to a slew of acquisitions.Year-on-year revenue growth 341 percent, reaching AED 11,425 million in nine months.
Healthcare sector major contributor to revenue, which reached AED 11,425 million at the end of Q3.
Abu Dhabi-based fund exceeds target of $50m in second raise
The Chimera Global Fund has surpassed its target of $50 million in its second raise, as it aims to deploy...The Abu Dhabi-based fund said it has a “robust pipeline of opportunities” in a number of sectors including financial technology, educational technology, and health technology
“The fund aims to deploy tickets of up to $5 million in 12-15 companies that span from Series A to pre-IPO stages”
Ministry of Economy and LinkedIn sign MoU to promote UAE as talent destination
The UAE's Ministry of Economy has signed an agreement with LinkedIn for developing a framework for skills-based talent besides identifying,...The agreement is geared towards achieving UAE Strategy for Talent Attraction and Retention.
LinkedIn will collaborate with the ministry’s team to make joint action plans supporting the ministry’s national strategies.
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.
