Red Sea Global, Riyad Bank sign agreement on $522m financing
TABUK, SAUDI ARABIA - Red Sea Global (RSG) has completed a US$522 million (SAR2 billion) financing agreement with Riyad Bank,...
Business
Economic forum in Amman to enhance trade ties between Iraq, Jordan
AMMAN, JORDAN - The Iraqi Business Council, in collaboration with the Jordanian and Amman Chambers of Industry, is set to...
Business
Business
Top energy honchos to meet at Abu Dhabi CEO Roundtable
More than 30 top energy executives from around the world will come together at the 7th Abu Dhabi CEO Roundtable,...
- The industry leaders have been invited to the roundtable by Dr. Sultan Ahmed Al Jaber, United Arab Emirates (UAE) Minister of Industry and Advanced Technology
- The participants will debate issues impacting the energy world and the outcome of the UN Climate Change Conference of the Parties (COP26)
Business
Airbus recovers, Boeing reels
Boeing has endured a series of crises as Airbus recovers.
- Aviation sector is recovering from Covid-induced slump
- Airbus will display the A321neo, its latest single-aisle plane, in Dubai
Business
Emaar Properties and Emaar Malls to merge this month
Nearly eight months after the process was undertaken by the two companies, the merger of Emaar Properties with Emaar Malls...
- The two companies conveyed the decision to Dubai Financial Market on Thursday, after the companies received no objections and met all the conditions for the merger
- This will be the second biggest such merger happening on DFM in the last 12 months
Business
European Tour to become the DP World Tour from 2022
The agreement heralds a new era in the history of the European Tour group, which, along with DP World, will...
- The agreement heralds a new era in the history of the European Tour group, which, along with DP World, will celebrate its 50th anniversary in 2022
- In 2022, the DP World Tour will represent a global tour through an international schedule, that will feature a minimum of 47 tournaments in 27 different countries
Business
Elon Musk sells $6.9bn in Tesla shares after Twitter poll
Musk's selloff came days after he created a Twitter poll in which millions voted asking whether he should sell 10...
- Musk's selloff came days after he created a Twitter poll in which millions voted asking whether he should sell 10 percent of his huge stake in the electric carmaker.
- Tesla shares had plummeted at the Wall Street opening on Monday and have fallen further since
Business
STR: Expo lifted Dubai hotel rates to 3-year high in October
Hotel occupancy rates in October stood at nearly 81.6 percent, with the average daily rate (ADR) at AED776.
- Hotel occupancy rates in October stood at nearly 81.6 percent, with the average daily rate (ADR) at AED776
- The tourist rush has been boosted by the Dubai Expo 2020 which is expected to attract 25 million business and tourist visits to the world fair
Business
Alba seeks solar project bids
The solar farm should have a capacity of more than 5 MW.
- The last date for tender purchase is November 30
- The deadline for technical bid submission is January 31 next year
Business
GE, J&J, Toshiba to split in trend to boost value
The break ups "represent a trend line that has been out there for 20 years ," said Michael Useem, professor...
- The break ups "represent a trend line that has been out there for 20 years ," said Michael Useem, professor at the University of Pennsylvania's Wharton School
- GE, like Japan's Toshiba, announced it was splitting into three companies, involved in aviation, health and energy
Business
Jordan discusses investments with the UAE
The discussions took place during a meeting on Friday, November 12, in Dubai between Jordan’s Prime Minister Bisher Khasawneh and...
- The Jordanian prime minister affirmed that his country welcomes more Emirati investments in many vital sectors
- Meanwhile, the UAE said it would look forward to promote bilateral ties with Jordan
Business
Saudi Arabian Airlines the least complained about carrier in kingdom
Saudi Arabian Airlines has been the least complained about airline in the kingdom during October 21, followed by Flyadeal. For...
- The kingdom's General Authority of Civil Aviation has classified airlines based on complaints submitted to it by passengers.
- King Khalid International Airport in Riyadh the least complained about airport in above 6-million-passenger category.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Red Sea Global, Riyad Bank sign agreement on $522m financing
TABUK, SAUDI ARABIA - Red Sea Global (RSG) has completed a US$522 million (SAR2 billion) financing agreement with Riyad Bank,...
Business
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Dubai Q1 GDP grows 2.8% on surge in transport, storage sectors
The transportation and storage sector was the biggest contributor to overall growth at 48 percent. This was followed by the...
Economy
Boeing looks to get Starliner spaceship ready to fly by March
Right now, based on the current plans, we're anticipating that we're going to be ready with the spacecraft in early...
Business
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Business
QEWC reports 12% profit jump
The Qatari company's net profit for H1 stands at US$211.26m.
- The company's earnings per share (EPS) amounted to QR 0.70 as of 30th June 2023, as against QR 0.62 for the same period in 2022
- According to a company statement, its revenue stood at $379 million compared to $329.67 million during the same period in 2022
Business
Qatar Central Bank foreign reserves surge by 14.3% in July
Doha, Qatar - The international reserves and foreign currency liquidity of Qatar Central Bank (QCB) surged last July to reach...
- Gold reserves rose to $6.07 billion in the month, reflecting an increase of about $1.34 billion compared to same period last year
- Balances held in foreign banks experienced a decline of $699 million, reaching $4.95 billion by the end of July
Business
Dlala posts net loss in H1
The company suffered a net loss of US$0.79 million.
- The company said its loss per share amounted to QR 0.015 as of June 30, 2023 compared to earnings per share(EPS) QR 0.018 for 2022
- In October last year, the Qatar Stock Exchange (QSE) announced the resumption of trading of the shares of Dlala Holding Company