Iraq now gas self-sufficient, paves the way for surplus exports
Iraq has now become self-sufficient in liquid gas and the surplus is usually exported abroad, strengthening the Iraqi economy.
Business
RSI buys stake in First Fix
Business
Ducab bags 30 major contracts
Business
Global economic concerns hit GCC equity performance
Market Report
As ‘news deserts’ spread, US journalism fights on
Baltimore, United States - Baltimore Banner reporter Matti Gellman is first to leap in with questions during a recent press appearance...
Business
Business
Awareness campaign of DEWA digital services ends
Dubai Electricity and Water Authority (DEWA) has successfully concluded its awareness campaign among customers about its innovative digital services on...
- The campaign provided guidelines and advice through DEWA's social media and internal and external channels.
- This helps customers make smart decisions to manage their consumption and benefit from DEWA's advanced digital services and initiatives.
Business
Marafiq IPO oversubscribed
It attracted total orders of nearly $1.7 billion.
- A minimum of 10 shares were allocated per individual subscriber, while the remaining shares will be allocated pro-rata, with an allocation factor of 4.91 percent
- Retail investors started the subscription of about 21.93 million shares of Marafiq, or 30 percent of total offered shares, at SR46 each on Oct. 26
Business
Binance says crypto moved through platform from Iran
No Iranian cryptocurrency platforms are currently under sanctions. But US-imposed restrictions prohibit a US entity or US national from selling...
- Some $7.8 billion has passed through Binance in connection with accounts domiciled on the busiest Iranian platform, Nobitex, Reuters said
- Binance's United States subsidiary is Binance.US, an entity that has come into regulatory crosshairs
Business
UAE equities climb up while Saudi index drops
Propelled by sectors like telecommunications and utilities, the UAE stock exchanges posted gains this week, even as the Saudi equities...
- On Sunday, the main TASI index dropped by 0.6 percent, or the equivalent of 77.2 points, down to 11,632 points
- The main index of the Abu Dhabi securities exchange on Monday increased 1.1 percent, gaining 119.81 points
Business
Elon Musk sacks half of Twitter’s staff in a major overhaul
A week after he took the reins of the company, Elon Musk has sacked half of Twitter's 7,500-strong staff in...
- Workers around the world were shown the door and took to Twitter to vent their frustration or disbelief and say goodbye to one of Silicon Valley's most iconic companies
- Musk has been scrambling to find new ways for Twitter to make money after his mammoth buyout, including an idea to charge users $8 a month for verified accounts
Business
Morocco impounds two million captagon pills at northern port
Scuttling an "international trafficking attempt" to West Africa, Morocco has made a large seizure of more than two million amphetamine-type...
- In recent years trade of the stimulant has shot up, mostly originating in Lebanon and Syria, where a multi-billion-dollar industry has made the drug the country's largest export
- Lebanese authorities have recently ramped up efforts to counter captagon production and trafficking after backlash from conservative Gulf nations
Geostrategy
UAE’s FNC members discuss cooperation with German Parliament
Members of the UAE-EU Parliamentary Friendship Group of the Federal National Council (FNC), headed by Sarah Mohammed Falkinaz, Chairperson of...
- The two sides affirmed the importance of strengthening their parliamentary cooperation.
- They also discussed relations between the UAE and Germany and of enhancing them in science, health, higher education.
Science
COP27 must shift from talk to action says UN climate chief
The upcoming COP27 climate summit in Egypt must mark a leap from the process of hammering out a treaty to...
- Diplomats from nearly 200 countries are gathering in the Red Sea resort for the November 6-18 conference.
- The US and the European Union - fearful of creating an open-ended reparations framework - have dragged their feet.
Business
Qatar Central Bank issues treasury bills, sukuk worth $1.6 billion
Doha--The Qatar Central Bank (QCB) has issued Treasury Bills and Sukuk for periods of one week, one month, three, six...
- The bills and sukuk for one week, one month, three, six and nine months worth QR 6 billion ($1.6 billion), and the auction attracted a record amount of bids totaling QR 9.75 bn.
- For September, the bank had issued treasury bills for three, six and nine months, with a value of QR 600 million ($164 million).
Geostrategy
World food prices hold steady in October, says FAO
World food prices held steady in October, though cereal prices rose over uncertainty of a deal giving safe passage for...
- FAO said its price index averaged 135.9 points in October, marginally lower from September.
- Wheat prices were up 3.2 percent, mostly reflecting continued uncertainties related to the Black Sea Grain Initiative, the UN body said.
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
Iraq now gas self-sufficient, paves the way for surplus exports
Iraq has now become self-sufficient in liquid gas and the surplus is usually exported abroad, strengthening the Iraqi economy.
Business
Company News
RSI buys stake in First Fix
Business
Ducab bags 30 major contracts
Business
Global economic concerns hit GCC equity performance
Market Report
Latest News
Conflict hits regional gas supply and infrastructure
The Israel-Hamas conflict has halted gas production at the Tamar plant, significantly impacting the region's infrastructure and disrupting Israel's gas...
Business
Jordan’s jewelry, pharmaceutical exports rise in January-September 2023
AMMAN, JORDAN – The Kingdom’s exports of jewelry increased by 71.5 percent during the January-September period of 2023 and pharmaceutical...
Economy
Most Read
Business
‘Sustainable aviation fuel roadmap required urgently’
"The global air transport sector has rebounded to pre-COVID-19 pandemic levels of 2019, with some countries already surpassing these levels,"...
- ICAO Conference in Dubai sets the stage for climate action in aviation.
- UAE praised for its leadership and sustainable vision in aviation post-COVID.
Business
AI transforms office roles and enhances productivity
Artificial intelligence automates tasks and boosts capabilities, leading to transformative changes in job roles, productivity, and staff engagement dynamics.
- Artificial intelligence automates tasks and boosts capabilities, leading to transformative changes in job roles, productivity, and staff engagement dynamics.
- Chatbots and virtual assistants are set to enhance employee experience and workplace efficiency, while companies shift focus to outcome-based performance.
Business
ADNOC unveils inaugural green hydrogen refueling station
Abu Dhabi, UAE - ADNOC announced on Friday it opened “H2GO”, the region’s first high-speed green hydrogen pilot refueling station,...
- The station will be operated by ADNOC Distribution, and is likely to create green hydrogen from water using an electrolyser powered by clean grid electricity.
- The hydrogen supplied at the pilot station will be certified as “green” from solar sources by the International REC Standard.