89% of Saudi CEOs hopeful of kingdom’s economic growth over next 12 months
Riyadh, Saudi Arabia - About 89% of CEOs in Saudi Arabia are optimistic about the country's economic growth over the...
Business
Dubai’s real estate soars with notable market growth
The emirate's residential market witnesses an 18% sales surge and a 26% rental increase due to investor confidence and a...
Business
Business
This week, Gulf markets closed on a high
Stock markets in the Arab region were mostly in the green in the week gone by.
- After falling by 0.79 percent, the Saudi Stock Exchange closed at 11,753.18 points on Tuesday, losing 93.35 points
- On Thursday, the Dubai index outperformed the rest of the Gulf markets, closing on a positive note for the fifth consecutive week
Business
Model Cargo Village at King Fahd Airport is Saudi economic engine
The village seeks to be an advanced logistics center that provides all means for logistics service providers and technical support...
- The village seeks to be an advanced logistics center that provides all means for logistics service providers and technical support companies
- It also provides creative solutions by linking all strategic and major sites with multiple access points and connecting them to the outside world by land, sea and air
Business
Helium Health of Nigeria buys out Qatar-based Meddy Inc
Meddy Inc, the Qatar-based doctor booking service, has been bought out by the African health tech company Helium Health, embarking...
- Nigerian-based Helium, which also operates in Ghana, Liberia, Senegal, Kenya and Uganda, announced that it had acquired Meddy Inc
- Helium will deploy its electronic medical records (EMR) technology and healthcare financial solutions across the GCC healthcare market
Business
Syria inks solar plant deal with UAE firms
Syria has signed a deal with United Arab Emirates firms for the construction of a solar power plant near Damascus,...
- The accord comes two days after UAE Foreign Minister Abdullah bin Zayed Al-Nahyan met President Bashar al-Assad in Damascus
- The Syrian government initially approved the project last month, with Economy Minister Samer al-Khalil calling it a positive sign
Business
Saudi Arabia sells dual-tranche bonds for $3.25 billion
Saudi Arabia has sold two bonds--a sukuk tranche and a conventional bond--for $3.25, the kingdom's National Debt Management Center (NDMC)...
- The value of the first tranche is at $2 billion for a nine-and-a-half-year sukuk maturing in 2031.
- The second tranche of $1.25 billion is for a 30-year bond maturing in 2051.
Business
ADFD provides Lesotho with $20m finance for water supply
Abu Dhabi Fund for Development (ADFD) will provide the Butha-Buthe District in Lesotho with $20 million in finance for the...
- The water supply system will provide 9,000 cubic meters of clean water per day, enough to meet the water needs of the Butha-Buthe population
- The loan agreement was signed by Mohammed Saif Al-Suwaidi, Director General of ADFD, and Thabo Sophonea, Lesotho’s Minister of Finance
Arts & Culture
Sharjah International Book Fair world’s largest publishing event in 2021
The Sharjah International Book Fair (SIBF) has emerged as the world’s largest book fair this year, attracting the participation of...
- The fair saw the participation of 546 publishers and literary agents from 83 countries.
- In the run up to the fair, SIBF Publishing Conference serves as a platform for buying and selling rights and signing book deals.
Business
Trade surges 69% to AED15.84bn between UAE and Italy in 2021
Trade between the United Arab Emirates (UAE) and Italy has surged 68.6 percent to AED15.84 billion in the first half...
- Imports too showed remarkable strength touching AED11.33 billion while exports hovered around AED3.65 billion
- Direct trade amounted to AED12.954 billion, whereas free zone trade totaled AED2.839 billion
Business
Air Arabia Q3 net profit $56 million
The airline said it served over 1.9 million passengers from its five hubs.
- The company’s turnover for the said quarter increased by 174 percent to AED804 billion, compared to AED294 million in the corresponding period last year.
- During the first nine months of the year, Air Arabia added 43 new routes to its global network from its hubs in the UAE, Morocco, and Egypt.
Business
ADX, Bahrain Bourse partner to unlock joint opportunities
The parties agreed on a strategic plan to implement new measures over the next nine months to strengthen ties between...
- As part of the agreement, ADX and BHB have agreed to introduce a number of products and services including Exchange Traded Funds (ETFs)
- As part of ADX’s strategy for growth announced at the beginning of the year, the exchange is forging partnerships with global exchanges
89% of Saudi CEOs hopeful of kingdom’s economic growth over next 12 months
Riyadh, Saudi Arabia - About 89% of CEOs in Saudi Arabia are optimistic about the country's economic growth over the...
Business
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India cricket board earns nearly $300 million from 2022 IPL
New Delhi, India -- India's cricket board banked nearly $300 million from last year's iteration of its Indian Premier League,...
Business
Chinese property giant Evergrande files for bankruptcy in US
Evergrande, once China's top property developer, was found in 2021 to be struggling with more than $300 billion in liabilities,...
Business
China’s investment rises 23% in BRI countries in Jan-July 2023
BEIJING, CHINA - Between January and July 2023, Chinese enterprises made non-financial direct investments totaling US$13.69 billion (RMB95.34 billion) in...
Business
Most Read
Elon Musk arrives in Japan for first visit since 2014
In 2014, the CEO of Tesla and SpaceX visited Japan for a ceremony marking his electric car-making company's full-scale entry...
- On Friday, Musk posted videos of what appeared to be an exhibition by prominent Japanese art collective teamLab
- Users on X posted comments asking why Musk was in Japan, with some speculating he had come to see musician Grimes
Business
Business travel in MEA likely to bounce back by 2024
Business travel spending hit $23bn in 2022, nearing pre-pandemic levels as post-pandemic business trips get longer, supported by UAE's digital...
- Business travel spending hit $23bn in 2022, nearing pre-Covid levels as post-pandemic business trips get longer, supported by UAE's digital nomad and freelancer programs
- The UAE's technological advancements and evolving legal framework make it more appealing and open to business travelers, says Ali Haider, Regional Director of Nomadic
Business
BAE to acquire Ball Aerospace
The value of the acquisition was reported to be $5.55bn.
- The British firm BAE said it hoped to complete the acquisition of the aerospace firm in the first half of 2024.
- The proposed deal will be funded by a combination of new external debt and existing cash resources, it added.