UAE exports 31.3m barrels of crude oil to Japan in February
Tokyo, Japan--The UAE exported 44.1 percent, namely 31.3 million barrels, of Japan's crude oil needs in February 2024, according to...
Business
Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
Business
Business
Dubai real estate transactions worth over $3.4bn in week ending September 15
DUBAI, UAE - A total of 2,329 real estate transactions worth over US$3.4 billion (AED 12.7 billion) were conducted during...
- A total of 549 plots were sold for US$1.1 billion, while 1,780 apartments and villas were purchased for $1.07 billion.
- A plot in Marsa Dubai sold for US$169 million while a plot sold for US$49 million in Business Bay.
Business
Turkey-China nuclear power plant deal possible soon: Minister
Dubai, UAE -- The talks between Turkey and China to build a nuclear power plant in eastern Thrace are progressing and...
- Senior officials from the Chinese government visited eastern Thrace and saw the sites where the construction is planned, Middle East Eye reported.
- Russia is already building a power plant in Akkuyu that will become partly operational next year.
Business
Saudi business delegation visits ZSBVC steel factory in Vietnam
HANOI, VIETNAM - A delegation of 80 Saudi businessmen, representing over 50 companies, and representatives from national specialized bodies and...
- The visit aims to explore investment opportunities, enhance trade, investment and industrial cooperation between Saudi Arabia and Vietnam.
- The visiting delegation was briefed on the production lines at Zamil Steel Building Vietnam Co and witnessed the skill of the workers.
Geostrategy
Transfer of Iran’s unfrozen foreign assets to Qatari banks soon
TEHRAN, IRAN – The foreign minister of Qatar said the procedures for the transfer of Iran’s unfrozen foreign assets to...
- Qatar has been a mediator in talks that led to a prisoner exchange deal between Iran and the United States.
- The deal involves the release of five prisoners from each side and the unfreezing of some US$6 billion worth of Iranian funds.
Business
Lumi IPO 11.5 times oversubscribed
The daylong retail offering saw 124,900 investors subscribe.
- The number of shares allocated to retail investors reached 1.65 million, representing 10 percent of the total IPO shares.
- Lumi floated 16.5 million shares, or 30 percent of its SAR 550 million capital, divided into 55 million shares, on Tadawul.
Apple to update iPhone 12 in France over radiation
Both the firm and France's digital minister Jean-Noel Barrot insisted on Friday there was no danger to public health from...
- France had ordered a halt to sales of the device on Tuesday after finding that the model emitted more electromagnetic waves than permitted
- "Apple has assured me that it will implement an update for the iPhone 12 in the next few days," said digital minister Jean-Noel Barrot in a statement
Business
Saudi Arabia leads as MENA region sees gaming boom
The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's...
- The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's market may hit $1bn mark this year and triple by 2030
- Spearheaded by Saudi Arabia, the region's gaming renaissance reshapes the global landscape, with Gamers8 festival showcasing the region's growing influence in the sector
Business
AstraTech to expand across India, Pakistan, and Egypt: founder
Sharjah, UAE -- The UAE-based technology firm AstraTech is seeking to expand across India, Pakistan, and Egypt in the near...
- Last month, we acquired a banking company in the Philippines as part of our global expansion, Abdallah Abu Sheikh told Wam
- He confirmed that in the first quarter of the next year, there will be acquisitions in the fields of financial technology and social communication
Business
Maersk introduces world’s first bio-methanol container ship
Copenhagen, Denmark - Danish shipping giant Maersk on Thursday launched the world's first container ship running on bio-methanol, a key step...
- European Commission head Ursula von der Leyen christened the Laura at an inauguration ceremony in Copenhagen's harbor.
- The Laura will help reduce its CO2 emissions by 100 tons a day, compared to the same vessel running on fuel oil, Maersk said.
Business
RSG gets Mostadam Diamond Certification
The accolade recognizes RSG's commitment to sustainability.
- Red Sea Global has worked closely with the Ministry of Municipal, Rural Affairs and Housing to help define the innovative Mostadam criteria.
- Together, they are creating vibrant and sustainable communities in the Kingdom, paving the way for a more sustainable housing sector.
UAE exports 31.3m barrels of crude oil to Japan in February
Tokyo, Japan--The UAE exported 44.1 percent, namely 31.3 million barrels, of Japan's crude oil needs in February 2024, according to...
Business
Company News
Goldman Sachs profits up 58%
Business
Latest News
CBI 2023 net profit at $46.5m
Business
Most markets advance after tech titans fuel Wall Street surge
Shares in Amazon, Apple and Facebook owner Meta all climbed during Thursday's session. All three companies were due to report...
Business
Qatar records real estate deals worth $100 million in five days
Doha, Qatar -- Qatar has recorded real estate transactions worth 378 million QR ($100 million) during the 21-25 Jan 2024...
Business
Qatar Central Bank issues treasury bills, sukuk worth US$686m
DOHA, QATAR - The Qatar Central Bank issued treasury bills and sukuk with maturities of one week, one month, three...
Economy
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Business
Dubai records weeklong real estate transactions worth $3.13 billion
Dubai, UAE -- Dubai recorded real estate transactions valued at AED 11.5 billion ($3.13 billion) during the week ending 2...
- A total of 192 plots were sold for AED 2.61 billion, 2,699 apartments and villas were sold for AED 5.75 billion.
- The sum of the amount of mortgaged properties for the week was 2.24 billion, with the highest being a land in Al Hebiah First, mortgaged for AED 458.77 million.
Arts & Culture
Hosts Qatar embrace ‘positive pressure’ of Asian Cup title defense
Doha, Qatar -- Qatar coach Tintin Marquez said Friday they relish the "positive pressure" of trying to retain their Asian Cup...
- The hosts and holders won all three of their games in the group phase without conceding a goal and then defeated Palestine 2-1 in the last 16.
- Qatar face Uzbekistan on Saturday in front of what is expected to be a packed crowd at the 68,000-capacity Al Bayt Stadium outside Doha.
Business
Deutsche Bank to slash 3,500 jobs
The bank said it would buy back shares and pay dividends.
- The news came as the German bank posted a 30 percent slide in fourth-quarter profit that still beat analyst expectations
- The dividends and the share buyback will cost the bank nearly $1.7bn and will take place during the first half of the year