61 contracts worth $7billion signed at World Defense Show in Riyadh
Riyadh, Saudi Arabia - About 61 purchase contracts totaling approximately SR26 billion ($6.93 billion) were signed at the second World...
Business
Business
Organic farmers find fertile ground in North Africa
In Tunisia, the land dedicated to organic farming has multiplied 20-fold since 2001. In Morocco, the area of farmland certified...
- Despite its small size, Tunisia ranks 30th in the world and first in Africa in terms of area certified for organic farming.
- Moroccan authorities are trying to develop the sector with the Green Morocco Plan, which helps farmers cover the costs of getting certified.
Business
Tadawul of Saudi Arabia to list its IPO on the bourse
Tadawul, the owner of Saudi Arabia's stock exchange, will proceed with its initial public offering (IPO) and list the shares...
- The operator of the bourse will offer 36 million ordinary shares, representing 30 percent of its issued share capital of 120 million shares
- This comes after the Gulf state’s regulator, Capital Markets Authority (CMA), signed off on the exchange’s IPO last week
Business
Algerian farmer’s olive oil wins global recognition
Hakim Alileche left a successful career in graphic design and moved to the Algerian countryside to produce "magic potion" --...
- The 48-year-old says he chose the Ain Oussera plateau for its cheap land and water supply
- His oil won first prize at the Dubai Olive Oil Competition in the Extra Virgin Early Harvest category in February 2021
Business
Axa insurance Q3 premiums down 7 percent
Q3 net profit down 18 percent from the same period last year.
- The firm's total comprehensive income also dropped 36 percent to 38 million riyals.
- Axa said the fall in net profit can be attributed to the overall decrease in insurance results and an increase in investment income.
Business
Colombia targets $1bn trade and direct flights with UAE
Colombia sees the UAE as a potential partner for growth in bilateral trade, economy, and tourism.
- Non-oil bilateral trade between the two countries amounted to $176 million in the first half of 2019
- The two nations are also in talks over signing a MoU for double taxation avoidance
Business
Sharjah earmarks $1.23m to support publishers
The gesture aims to provide public and government libraries in Sharjah with various modern publications in all Arab and foreign...
- Sharjah ruler Sheikh Sultan bin Muhammad Al Qasimi has directed the allocation AED4.5 million (around $1.23 million) to help publishing houses
- The amount will be used to purchase the latest publications from publishing houses participating in the Sharjah International Book Fair
Business
Air France inks Dubai deals
It has signed sustainable aviation fuel deals with Dubai firms.
- A high-level Air France delegation held strategic meetings with aviation leaders based in Dubai at Expo 2020
- The networking event was organized in partnership with the lille3000 association and sponsored by Clarins
Business
Workshop kicks off at MIT under Monshaat supervision
The first workshop of the Regional Entrepreneurship Acceleration Program kicked off today at the Massachusetts Institute of Technology (MIT), under...
- A team representing different sectors interested in developing an innovative entrepreneurship ecosystem in the Eastern Province is participating in the workshop
- The workshop aims to assess and analyze the ecosystem in the Eastern Province using available data and statistics
Business
PIF of Saudi Arabia looks to invest in China
Public Investment Fund of Saudi Arabia is looking to diversify investments into Chinese companies after having confined its overseas holdings...
- The PIF has applied for a Qualified Foreign Institutional Investor license in China, to be able to directly trade renminbi-denominated stocks
- The $450 billion sovereign fund, which hasn’t disclosed any investments in China, has ambitions to control $2 trillion of assets
Business
Dubai to merge economy and tourism departments
Dubai intends to merge the departments of economy and tourism in order to attract some 25 million tourists by 2025...
- The new entity will be asked to increase the added value of the industrial sector
- Al Marri has been Director General of the Dubai Department of Tourism and Commerce Marketing (DTCM) since 2013
Most Read
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
61 contracts worth $7billion signed at World Defense Show in Riyadh
Riyadh, Saudi Arabia - About 61 purchase contracts totaling approximately SR26 billion ($6.93 billion) were signed at the second World...
Business
Company News
GIG to pay $49m in dividends
Business
Latest News
Stock markets advance on US debt, elections
Market Report
PIF sets up SRJ Sports Investments firm
The investments are expected to localize partnerships.
Business
Jordan-Egypt trade expands to US$355.43m in first five months of 2023
Amman, Jordan--Trade between Jordan and Egypt expanded to $355.43 million in the January-May period of the current year, according to...
Business
Musk offers legal aid for users in trouble at work over X posts
Since Musk bought the social media platform for $44 billion last October, its advertising business has collapsed, in part because...
Business
Most Read
Business
Saudi Fund signs US$77m agreement to set up solar power plant in Belize
Riyadh, Saudi Arabia-- Saudi Arabia has signed a $77 million loan agreement with Belize to set up a solar power...
- The agreement was signed by the CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, and the Prime Minister of Belize, John Antonio Briceño
- The agreement aims to build a 60-megawatt solar power plant, complete with the supply and equipment of solar panels, to reduce emissions in the energy sector
Economy
Oman annual inflation inches up to 0.69 percent in June
Muscat, Oman--Oman annual inflation rate reached 0.69 percent by the end of June 2023, according to the monthly consumer price...
- Inflation was fueled by the increase in most of the main groups making up the consumer price index and the prices of the food and non-alcoholic beverages
- The prices of oils and fats rose by 4. 81%, fruits by 4.3%, other foodstuffs by 3.91%, bread and cereals by 2.34%, and non-alcoholic beverages by 0.67%
Business
UAE supplies 25.63 million barrels of crude oil to Japan in June
Tokyo, Japan--Japan's crude oil imports from the United Arab Emirates amounted to 25.63 million barrels in June 2023, or 37.4...
- In the month of June, Japan's crude oil imports touched 68.5 million barrels, of which 66.7 million were provided by the UAE, Saudi Arabia and other countries
- At least 41.4 percent of total imports in June came from Saudi Arabia, making the kingdom and the UAE the top oil providers of more than three-quarters of Japan's needs