Step into the future of sustainable smart city development
Pavegen, a global kinetic energy company, unveiled its innovative “Solar+” tile in Dubai. This tile harnesses the power of movement,...
Xi, Biden in Peru for APEC summit, pre-Trump face-to-face
uncertainty over Trump's next moves now clouds the APEC agenda -- as it does for the COP29 climate talks underway...
Business
Agthia 2021 acquisitions worth $630m
The Group is planning a new acquisition in Egypt.
- Agthia aims to expand geographically in markets such as Egypt and Pakistan, noting its 60 percent acquisition of Abu Auf Group in Egypt.
- The group's products are currently available in more than 45 markets in North America, Europe, Asia, North Africa and the Middle East.
Economy
‘Jordan committed to combating terror financing’
Governor of the Central Bank of Jordan (CBJ) Adel Sharkas said that terror financing is a threat to national economies,...
- Governor of the Central Bank of Jordan said that terror financing is a threat to national economies
- The CBJ Governor said the Kingdom is committed to combating money laundering and terror financing
Business
Malaysia Airlines to acquire 20 planes
The airline will buy 10 planes and lease the 10 others from Avolon.
- The plane was worth $296.4 million according to the last published catalogue prices in 2018.
- The A330neo will gradually replace 21 older-generation A330neo planes in the Malaysia Airlines fleet.
Economy
Jordan’s anti-corruption body launches National Integrity Index
The Jordan Integrity and Anti-Corruption Commission (JIACC) on Monday launched the National Integrity Index (NII), which aims to gauge public...
- Jordan Integrity and Anti-Corruption Commission launches National Integrity Index to gauge public bodies adherence to anti-corruption standards
- The NII aims to support the commission's efforts to combat corruption and foster an anti-corruption public culture
Economy
Museum, DEWA partner for sustainable development
The Museum of the Future has signed a strategic partnership agreement with Dubai Electricity and Water Authority (DEWA) to showcase...
- The Museum of the Future with Dubai Electricity and Water Authority will showcase solutions for sustainability and renewable energy
- The agreement between the two organizations aims for constructive research that helps solve today’s ecological challenges
Business
Bahrain central bank’s monthly Sukuk issue oversubscribed by 152%
The Central Bank of Bahrain (CBB) said Monday the monthly issue of the Sukuk Al-Salam has been oversubscribed by 152...
- Subscriptions worth BD 65.445 million ($173.5) were received for the BD 43 million issue, which carries a maturity of 91 days.
- The expected return on the issue, which begins on 17 August and matures on 16 November, is 3.80 percent compared to 3.96 percent of the previous issue on 13 July.
Business
DGCX licensed brokerage firms can now become DFM derivatives members
Dubai Financial Market (DFM) said Monday that it has obtained the approval of the Securities and Commodities Authority (SCA) to...
- Securities and Commodities Authority approves DFM to allow such firms to become DFM derivative members and provide their services in the market for the first time.
- Currently, there are approximately 21 DGCX brokers licensed by SCA and this significant step caters to the growing demand from these companies to access the DFM.
Economy
Saudi real estate fund signs 58,000 housing support contracts in H1
Saudi Arabia’s Real Estate Development Fund has signed more than 58,000 financing contracts for the kingdom’s various housing support programs...
- One of the goals of kingdom's transformative Vision 2030 is to raise the percentage of house ownership to 70 percent,
- The number of the beneficiaries of housing support programs from June 2017-June 2022 is more than 660,000.
Business
Solutions by stc to buy Giza
The 89.49% stake in Giza Systems will cost it $158m.
- The company had entered a binding deal for the takeover of the stake in Giza Systems in addition to 34 percent of its unit, Giza Arabia
- The transaction is expected to be completed by the fourth quarter of 2022
Business
Saudi digital payments go up, represent 94% of all trades
The study highlighted how the government sector in the kingdom has almost completely converted to electronic payment methods for all...
- The use of electronic payments increased to 62 percent last year from 44 percent in 2019 across all areas of economic activities
- When it comes to the business sector, the share of electronic payments reached a substantial 84 percent of all business payments in 2021, up from 51 percent in 2019
Step into the future of sustainable smart city development
Pavegen, a global kinetic energy company, unveiled its innovative “Solar+” tile in Dubai. This tile harnesses the power of movement,...
Company News
ADCB prices $650m green bond
Business
Latest News
Saudi Arabia sets ambitious goals for mining sector
"We have begun discussions with 80 countries participating in the mining sector. ... An international platform has been established in...
Business
EDGE buys 50% stake in Flaris, marking strategic expansion into aviation technology
Abu Dhabi, UAE -- The UAE’s EDGE Group, one of the world’s leading advanced technology and defence groups, has announced...
Business
BCCI yet to hear officially about Saudi interest for stakes in IPL
NEW DELHI, INDIA - Recent reports of Saudi Arabia expressing an interest in buying a stake in the Indian Premier League...
Business
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Business
Japan to invest $13 billion on semiconductors and generative AI
Tokyo, Japan - Japan's government said on Friday that it plans to spend 2 trillion yen ($13 billion) to boost domestic...
- The planned outlays will include 700 billion yen ($4.6 billion) to support the construction of a Taiwan Semiconductor Manufacturing Company (TSMC) plant in Kumamoto.
- Japanese trade ministry said the government will also spend 650 billion yen ($4.3 billion) to support Japanese startup Rapidus, which aims to develop next generation microchips.
Business
Dubai’s weeklong real estate transactions exceed AED10.3bn
Dubai, UAE -- The total value of real estate transactions conducted in Dubai during the week ending 10 November 2023,...
- The DLD report showed that 1,782 sales transactions worth AED7.4 billion were conducted, with 396 plots sold for AED3.99 billion.
- The total value of mortgaged properties for the week reached AED1.86 billion. A total of142 properties were granted between first-degree relatives worth AED1 billion.
Business
TASI-listed firms report an aggregate net profit of $48.1bn in Q3
RIYADH, SAUDI ARABIA - Tadawul-listed companies reported a US$48.1 billion (SAR 157.09 billion) aggregate net profit for the third quarter...
- Sector-wise, the energy sector contributed the largest portion of the aggregate net profit of Saudi listed companies in Q3 2023.
- The banking sector accounted for 11.5 percent of the market’s aggregate profit, coming in second in terms of the most profitable sectors.