Geopolitical tensions buffet markets, gold and oil prices climb
Gold and oil prices climbed on fears of escalating tensions in the Middle East after Israel launched its most intense...
Business
The future of logistics: Insights from DHL’s Amadou Diallo
The future of logistics is a convergence of technology, sustainability, and human ingenuity, which are transforming supply chains into more...
Interview
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.
Geopolitical tensions buffet markets, gold and oil prices climb
Gold and oil prices climbed on fears of escalating tensions in the Middle East after Israel launched its most intense...
Business
Company News
Delta posts Q3 profits of $1.1b Â
Business
Latest News
Chinese firm announces $5bn investment in solar power chain in UAE
Dubai, UAE - Trina Solar, a Chinese renewable energy company, announced on Thursday plans to invest US$5 billion to create...
Business
Awaed Alosool launches Sharia compliant investment platform
RIYADH, SAUDI ARABIA - Awaed Alosool Capital announces the launch of the Awaed platform, revolutionizing investment opportunities in public listed companies....
Business
Most Read
Real estate deals in Bahrain decline marginally in third quarter: CBRE
Manama, Bahrain - Real estate transactions in Bahrain recorded a marginal 2.5 percent decline in Q3 2023, totaling 5,145 compared to the...
- Quoted apartment sales experienced a slight decrease of 1.7Â percent, while apartment rents rose by 3.2Â percent.
- Villa rents and sales, on the other hand, saw significant increases of 4.3 percent and 1.2 percent, respectively
Business
99 percent of world live in areas with air pollution levels above WHO guideline limits
DUBAI, UAE - According to World Health Organization data, 99 percent of the world’s population lives in places where air...
- Leading businesses recognize that they have an important role in reducing air pollution alongside greenhouse gas emissions.
- Business activity contributes significantly to air pollution globally but air pollution is not prioritized nor integrated into climate action.
Business
Iran-Russia trade surges 18 percent to US$1.7 billion in 2023
Tehran, Iran--Trade between Iran and Russia has climbed 18 percent to US$1.7 billion in the first eight months of 2023....
- Jumping more than 40 percent up, the weight of trade between Iran and Russia was 3,748 million tons from March to November
- Iran revealed that $616, 326 million worth of goods were exported to Russia, which shows 32% increase compared to the same period last year