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 squad basks in attention as it prepares for World Cup
While Qatar feverishly seeks to complete work on hotels and apartments for the World Cup fans, its squad for the...
- But the national team, who will make their World Cup debut against Ecuador on November 20, lost 3-0 to Croatia's under 23 team, 2-0 to Canada
- The players remained upbeat despite the disappointing results and being kept away from their Qatari homes
Economy
Low carbon demand spurs green sukuk growth
With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent...
- With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent increase over 2020.
- Sukuks cannot be used to finance illegal activities and are designed to avoid high levels of leverage and speculation, a new research highlights
Economy
Saudi banks provide $630 billion loans till August 2022
Riyadh, Saudi Arabia - Saudi bank loans granted to public and private sectors grew 15 percent by the end of...
- Private-sector lending also increased by 15 percent year-on-year to SAR 2.241 trillion ($600 billion).
- Loans granted to public non-financial institutions increased 26 percent YoY to SAR 117.1 billion ($31.14 billion).
Business
UAE-China non-oil trade exceeds $470bn in past decade
Abu Dhabi, UAE - The non-oil trade between the UAE and China increased by 78.5 percent from 2012 to 2021,...
- The trade increased by 78.5 percent from 2012 to 2021 to $60.85 billion by the end of 2021 compared to $34 billion in 2012.
- FCSC also showed that the non-oil trade exchange between the two in the first half of 2022 totaled AED118.4 billion $32.24 billion.
Business
Sharjah Chamber organizes forum, briefs Russian delegation
The Sharjah Chamber of Commerce and Industry (SCCI) has organized a forum to discuss ways to boost economic ties and...
- The forum witnessed bilateral meetings between business owners from Sharjah and Russia.
- The chamber briefed the Russian trade mission on Sharjah’s business advantages and facilities.
Business
Mawani, Tabadul to develop port community management systems
Riyadh, Saudi Arabia---Saudi Ports Authority (Mawani) and the Saudi Information Exchange Company (Tabadul) signed an MoU to develop new port...
- The MoU aims to achieve the expansion of services provided in Saudi ports and doubling their number from 46 to 150 besides.
- It also aims at enabling modern and emerging technologies in accordance with international best practices.
Business
Qatar goes into top gear to ready luxury hotels, flats
As the countdown to the start of the World Cug gets underway, Qatar has accelerated efforts to ready luxury hotels...
- The wealthiest will pay thousands of dollars a night for rooms with marble wine cellars and a lobby with one of the world's biggest chandeliers
- Some Qatari landlords are trying to cash in on the World Cup, demanding $4,000-plus a night for Doha apartments
Business
RWE of Germany signs US$6.8bn US clean energy deal
RWE is one of Germany's main energy providers, with production historically linked to coal, which placed it among the country's...
- RWE said the transaction almost doubles the company's renewables portfolio in the United States and, once completed, will make it the number 4 renewable energy company
- Con Edison's clean energy division is a leading operator and developer of renewable energy plants in the United State with about three gigawatts (GW) of operating capacity
Business
Saudi stocks shine, while UAE’s post losses
GCC markets had a mixed week as Saudi stocks powered by the banking and commodities retail sectors posted gains, while...
- The banking and commodities retail sectors, Saudi equities finished the week's trading higher, increasing the general index by 2.11 percent and adding 235 points
- The UAE equities on DFM declined by two percent, and the Abu Dhabi index dropped by 0.7 percent
Business
Saudi healthcare needs $35bn as population rises
The kingdom will need an investment of $35.6bn for nearly 20,000 new hospital beds by 2030, according to Colliers. High...
- The cost of land in Riyadh has almost doubled in the last two to three years, according to Mansoor Ahmed, Colliers Executive Director Middle East & Africa.
- REIT funds in the kingdom can unlock around $59 - $63.4 billion property value, playing a key role in growth in the healthcare sector.
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
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JABEEN signs contracts with Retal, Abyatna
The firms will build primary and secondary infrastructure works.
Business
Abu Dhabi hosts ‘Fortune Global Forum’ to debate challenges to global economy
Abu Dhabi, UAE-- The world's top heads of multinational companies, policy-makers, and investors will gather in Abu Dhabi today to...
Business
Key contender Riyadh eyes Expo 2030 win tomorrow
Saudi Arabia -- competing against Busan, Korea, and Rome, Italy -- bids for Expo 2030 with a focus on innovation,...
Business
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Business
Qatar’s North Field expansion fuels optimistic outlook
"Looking ahead, our focus is on the North Field Expansion and sustainability projects. We are collaborating with our contractors to...
- QatarEnergy's North Field Expansion Project to increase LNG production from 77 to 126 million tons per year.
- A 27-years partnership agreement has been signed with Sinopec for North Field South (NFS) expansion.
Business
Infracorp logs $29.8m profit
The company specializes in social infrastructure.
- Infracorp is currently restructuring its industrial portfolio to support its expansion in developing vital industrial infrastructure in Bahrain
- The company is expanding its investment portfolio in the hospitality sector and attracting several international names, including ROKA and Avli by tashas
Business
AD Ports Group expands operations in Kazakhstan with two new oil tankers
Abu Dhabi, UAE--AD Ports Group in collaboration with KazMorTransFlot (KMTF) has announced the acquisition and commencement of operations of two...
- The acquisition of two vessels represent a combined investment of US$35 million, and are specifically tailored for the Caspian Sea's shallow draft
- The new investment by AD Ports Group and KazMorTransFlot brings the total number of oil tankers operating under the KMTF agreement to five