Asian markets swing as traders assess latest tariffs volley
Asian markets were mixed Wednesday after President Donald Trump broadened his tariff threats, while traders were also assessing the geopolitical...
Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...
Economy
Business
E-marketing reduce prices of poultry products by up to 20% in Saudi
Riyadh, Saudi Arabia--Saudi Poultry Producers Committee has said that use of some applications in marketing has helped consumers obtain products...
- Saudi Poultry Producers Committee recommends farmers to benefit from modern marketing technologies.
- Saudi Ministry of Environment, Water and Agriculture recently set up a company to market Saudi agricultural products in cooperation with the Federation of Saudi Chambers.
Economy
Markets sink as US jobs data fan rate hike bets
A brief rally across trading floors last week gave way to gloom as investors grow increasingly worried that central bank...
- All three main indexes tumbled Friday following news that a net 263,000 US jobs were created in September
- With the spotlight on a consumer price index reading later in the week, policymakers continue to take a hawkish tone
Business
Al Sagr to cut capital
It has sought shareholders' nod for 65% capital reduction.
- According to a bourse filing, the Saudi insurer aims to reduce its capital from $106 million to $37.33 million.
- The company is restructuring its capital in order to write off accumulated losses of $69.33 million
Business
Almarai posts profit in Q3
The Saudi firm's net profit rose 10% to $372m.
- However, the company's stock took a dip, falling 4.15 percent to end the session at SR53.10
- The company said positive revenue growth was also witnessed across all categories after the removal of COVID-19 movement restrictions and the re-opening of educational institutions
Business
Chirpy commentator enlivens Qatar’s football culture
Khalil al-Balushi, one of Qatar's top football commentators, brings much-needed life to Qatar's subdued football culture.
- Born in Oman and based in Qatar for 16 years, Balushi says all Arab football commentators "are a little bit noisy"
- Since the 1990s, members of the royal family started pumping some of Qatar's natural gas riches into local clubs, which now vie for the best domestic players and foreign stars
Business
e& forays into the metaverse
The move marks a significant achievement for the Group
- The move marks a significant achievement in the Group’s transformation journey to a global technology and investment conglomerate
- Metaverse technology is in the early incubation stages, given that it needs high-bandwidth and low-latency communications to work at scale
Business
French energy giant offers pay talks in bid to end fuel strike
Vehicle owners have faced increasingly long waits to fill up after two weeks of strikes by workers demanding higher wages...
- It runs a network of around 3,500 filling stations in France, nearly a third of the total, and most of them are low on fuel or even empty for some types.
- Currently three of Total's refineries are blocked, including its largest, in Normandy, as well as a fuel depot near Flandres in the north.
Economy
Remittances from expatriates in Saudi fell 13 percent in Aug
Riyadh, Saudi Arabia - Remittances from expatriates in Saudi Arabia saw a 13 percent year-on-year (YoY) decline to SAR 11.92...
- On a month-on-month (MoM) basis, remittances from expats in Saudi Arabia rose 3 percent, or SAR 323 million ($85.47m).
- Remittances by Saudi nationals to other countries grew 10 percent YoY to SAR 6.33 billion ($1.68bn) in August.
Business
Dubai Airport Free Zone non-oil trade up 36 percent in 2021
Dubai, UAE--- Non-oil trade of Dubai Airport Free Zone (DAFZ), part of the Dubai Integrated Economic Zones Authority (DIEZ), rose...
- DAFZ contributed 10.7 percent to Dubai’s non-oil trade in 2021, exceeding expectations across all sectors.
- Machinery, equipment, and appliances were the main contributor to DAFZ’s trade in 2021, making up 74.6 percent of exports.
Geostrategy
Qatar to hike Jordanian food imports during World Cup
Qatar plans to hike its imports of Jordanian food products during FIFA World Cup Qatar 2022 as demand is expected...
- Qatar relies heavily on Jordanian market for vegetables and fruits.
- Volume of Jordan-Qatar trade during the past 10 years amounted to over US$3.17 billion.
Asian markets swing as traders assess latest tariffs volley
Asian markets were mixed Wednesday after President Donald Trump broadened his tariff threats, while traders were also assessing the geopolitical...
Company News
Latest News
Porsche sales revenue up
Business
CBUAE and People’s Bank of China renew currency-swap agreement
Abu Dhabi, UAE--The Central Bank of the UAE (CBUAE) and the People’s Bank of China today signed an agreement to...
Business
ADX set for dynamic growth in 2024 with new listings
"ADX's crucial role in bridging investors with companies, fostering growth opportunities, and reinforcing the UAE and Abu Dhabi's status as...
Business
Abu Dhabi IPO Fund looks to launch three IPOs by end of 2024
Abu Dhabi, UAE--Abu Dhabi IPO Fund (ADIPOF) is working on three initial offerings in the technology, hospitality, restaurants, and financial...
Business
Most Read
Business
China announces 25 measures to aid private businesses
Beijing, China - China's central bank and several government agencies unveiled 25 new measures Monday to support private economy. These...
- These initiatives aim to diversify financial avenues for private businesses, marking a continued effort to bolster the private sector
- These initiatives aim to diversify financial avenues for private businesses, marking a continued effort to bolster the sector crucial for the country's economic progress.
Business
Diamond industry adopts tracking as Russia sanctions loom
Antwerp, Belgium - As European capitals prepare to implement long-awaited sanctions on Russia's diamond exports, Belgian traders are bracing for new...
- Russian stones accounted for around a third of the global market before its Ukraine invasion, and G7's decision to ban trade in them could have broad repercussions
- The European Union is drawing up bans on Russian diamonds as part of its 12th package of sanctions to tighten the vice on Moscow's war economy and cut off its funds
Business
Foxconn to invest $1.54bn more in India
The firm announced in May to purchase land for $37 million in India.
- Chairman Young Liu had said during an earnings call in August that the company saw the potential to invest "several billion dollars" in India
- The company is planning to expand its India operations to "critical components" for consumer electronics and electric vehicles to boost its competitiveness