Stocks mostly rise, oil falls as Trump fans Ukraine peace hopes
London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...
Business
Altman rejects Musk’s US$97.4 billion bid to buy OpenAI, as feud continues
After receiving backing from his OpenAI board, Sam Altman informed an Elon Musk-led group of investors that sought to buy...
Business
Qatar and Egypt hold talks to ramp up civil aviation cooperation
Cairo, Egypt-- Qatar and Egypt have discussed enhancing ties in the field of civil aviation between the two countries.In this...
- The two countries signed a memorandum of understanding to increase air transport rights to Cairo International Airport
- The agreement will facilitate the opening of new avenues of cooperation in the field of air transport between the two countries
Business
Middle East emerges as a major player in global CEO appointments: report
Dubai, UAE - The Middle East has emerged as a prominent player in global CEO appointments, securing 68 out of a...
- Companies in the region boasting the highest global percentage of CEOs with prior C-suite experience, standing at an impressive 90 percent
- Surprisingly, the Middle East also leads globally in terms of CEO age, boasting the youngest average CEO age at 54.5 years
Business
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...
- A remarkable 71% of Saudi CEOs have observed a 5% or more increase in market share over the past three years, surpassing the global average of 49%
- The Vision 2030 initiative, with its focus on reducing oil dependency, has propelled Saudi Arabia to the 17th largest global economy by GDP size in 2022
Business
DIEZ profit jumps 64.6% in 2023
The market value of its net assets crossed US$5.66bn.
- DIEZ reported growth in earnings before interest, taxes, depreciation, and amortisation by 49.2 percent, alongside an 8.1 percent increase in total revenues
- Economic zones affiliated to DIEZ have experienced substantial growth across six key sectors, which collectively represent 95 percent of total companies hosted.
Business
Iraq economy likely to grow this year, says IMF
BAGHDAD, IRAQ – Economic growth of the country is projected to continue amid fiscal expansion, an International Monetary Fund (IMF)...
- Medium-term vulnerabilities to oil price volatility have increased significantly, the IMF said.
- Growth in the non-oil sector has rebounded strongly in 2023 while inflation has receded.
Business
GAS, SPPC ink two contracts
The duration of each contract is of 22 months.
- The two contracts entail the engineering, procurement and construction of Qassim and Taibah gas pipelines.
- The first contract is valued at $90 million (SAR341.09 million), while the second is worth $68 million (SAR256.1 million).
Business
Ooredoo, Nokia sign MoU
It will commit the two to sustainable innovation.
- The partnership between the two companies stems from their collaborative vision to foster a more environmentally-conscious industry
- The CEO of Ooredoo said that the MoU is a cornerstone in their journey towards achieving the goals of Qatar’s National Vision 2030
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...
- The emirate's residential market witnesses an 18% sales surge and a 26% rental increase due to investor confidence and a preference for larger homes.
- The city's office market thrives, with rents surpassing pre-pandemic levels, reinforcing its role as a strategic regional hub for global corporations.
Business
Apple’s changes contradicts European rules, 34 firms complain
Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...
- Companies have expressed doubts about how much Apple's changes would ultimately broaden consumer choice and digital competition.
- Apple in January announced it was modifying how its iOS operating system, Safari browser and App Store operate in the 27-nation EU.
Business
Total value of Saudi Arabia’s export of dates reaches US$389m in 2023
RIYADH, SAUDI ARABIA - According to data released by the National Center for Palms and Dates (NCPD), the value of...
- By the end of 2023, the number of countries importing Saudi Arabian dates had reached 119.
- The total value of date and date-byproduct exports increased by 152.5 percent since 2016.
Stocks mostly rise, oil falls as Trump fans Ukraine peace hopes
London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...
Business
Company News
Latest News
2024 Crypto Crime Update Part 2: China-based cybercrime networks on the rise
In part 1 of our mid-year crime update, we discussed trends related to ransomware and stolen funds. While aggregate illicit...
Nvidia’s forecast dampens AI enthusiasm in other tech stocks
Shares of Nvidia and other technology heavyweights fell late on Wednesday, a discouraging sign for investors betting that a strong...
Durov: Father of 100 children is a mysterious and controversial Telegram founder
Paris, France - Russian-born tech entrepreneur Pavel Durov has founded wildly popular social networks, cryptocurrencies, amassed a multi-billion-dollar fortune and locked...
Business
Most Read
Qatar strikes new 15-year 3 mtpa LNG supply deal with KuwaitÂ
Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for...
- Kuwait has been boosting its reliance on imported gas to meet power demand
- Qatar this year announced a further expansion of its North Field project
Business
ExxonMobil expects global oil demand near current levels in 2050
New York, United States - Global oil demand is unlikely to fall by 2050 despite progress on renewable energy, the US...
- In a new report, ExxonMobil said it "sees a plateau in oil demand beyond 2030, remaining above 100 million barrels per day through 2050."
- This would be roughly in line with oil demand last year of 102.2 million barrels per day, according to the International Energy Agency
Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...
- Oil prices climbed 0.8% after Israel and Hezabollah traded rocket salvos
- The dollar slipped a further 0.5% to 143.64 yen, having fallen 1.3% on Friday