West tells Iran to ‘stand down’ Israel attack threats; Tehran says ‘no way’
With tensions soaring in the Middle East, the United States says that Iran along with its proxies might attack Israel...
GACA and SBJBC strengthen saudi-UK aviation ties in London roundtable
Led by GACA President, the meeting featured the British Ministry of Transport, the SBJBC, and key aviation industry leaders.
Business
Business
European stocks bounce back after sharp losses on global recession fears
European stock markets rebounded on Wednesday, recovering some ground following sharp losses the previous session on fears of a global...
- London's benchmark FTSE 100 index was up 1.8 percent around midday and the pound was mixed against main rivals.
- Crude futures had slumped nearly 10 percent Tuesday, while Europe's main stock markets lost about three percent.
Economy
Sri Lanka appeals Russia for fuel and resumption of tourist flights
Sri Lanka is facing its worst economic downturn since it gained independence from Britain in 1948.
- The Island nation has suffered months of blackouts, rampant inflation and critical shortages of food and petrol.
- Russia and Ukraine were among the top sources of tourists for Sri Lanka before February's conflict began.
Business
Tabadul: GCC region’s first digital exchange hub launched
Based on the mutual market access model, Tabadul will allow investments across Bahrain Bourse and Abu Dhabi and enable investors...
- Tabadul will be accessible to all investors registered with eligible local brokers and who have filled out the requisite KYC documents required by exchange in their countries.
- Securities on Tabadul are traded in respective exchange’s local currency, and in specified currency of the traded asset for some cases, with no minimum amount required for orders.
Business
AD Ports Group, SEG sign MoUs
A logistics and freight business and food trading hub will be built in Uzbekistan.
- The logistics venture will deploy new technology and specialised processes to address the challenges caused by Uzbekistan's double-landlocked geographical location.
- Based upon the 'Regional Food Hub – Abu Dhabi' currently under development in KIZAD, AD Ports Group will share their expertise towards the food trading hub.
Business
GCC central banks should hike rates to combat inflation: L’AZURDE CEO
Inflation is an opportunity for a company to review strategically the portfolio of plans it offers, says L'azurde CEO.
- Inflation is an opportunity for a company to review strategically the portfolio of plans it offers, CEO L'azurde said
- Companies, he said, should review costs from A to Z, from employees to manufacturing, automation and investment in technology
Business
Jordan pens success story with its chalk
Long before whiteboards, beamers and laptops entered modern school classrooms, teachers relied on the humble, dusty, sometimes screechy blackboard chalk.
- Chalk, a white, soft limestone, was formed aeons ago when the shells of tiny marine creatures were compressed on the sea floor
- Jordan has a near endless supply of the raw material, with the ministry of energy and mineral resources estimating the country's "assets of limestone exceed 1.3 billion metric tons
Geostrategy
Tunisia president defends new constitution ahead of referendum
Tunisia's President Kais Saied on Tuesday defended a proposed constitution set for referendum this month, after the drafting committee's chief...
- The new constitution is the centerpiece of Saied's plan to remake the North African country's political system
- Saied wants a presidential system to replace the country's 2014 constitution, which enshrined a mixed presidential-parliamentary system often beset by deadlock
Business
Tokyo equities open lower as recession fears persist
Tokyo stocks opened lower Wednesday after a mixed close on Wall Street as lingering recession fears caused a rout on...
- In New York, the Dow fell as recession fears pounded petroleum-linked equities, but tech shares rallied, with markets eyeing the possibility of smaller interest rate hikes
- The dollar fetched 135.57 yen in early Asian trade, against 135.87 yen in New York on Tuesday
Business
Crypto crash seen as interim pain for long-term gain
There will be some volatility in the sector for a long time to come because it is an early-stage market,...
- There will be volatility in the sector for a long time to come because it is an early-stage market, says Valerie Hawley, Affiliate Founding Partner at True Global Ventures 4 Plus
- The prices of nearly every crypto coin have fallen by more than 50 percent from their all-time highs, with no rapid rebound expected amid the ongoing market crash, he adds
Business
EPG, Hub71 to help tech startups advance Abu Dhabi logistics sector
Emirates Post Group (EPG) and Hub71, Abu Dhabi’s global tech ecosystem, will partner to provide tech startups in the Emirate...
- As part of the agreement, EPG will also provide mentorship for startup founders and support the development of Proof of Concepts.
- EPG-backed startups will also gain the ability to join Hub71’s vibrant community.
West tells Iran to ‘stand down’ Israel attack threats; Tehran says ‘no way’
With tensions soaring in the Middle East, the United States says that Iran along with its proxies might attack Israel...
Company News
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Saudi Ministry of Investment and Agility sign MoU to boost healthcare sector
Riyadh, Saudi Arabia-- Saudi Arabia and Agility have signed a memorandum of understanding (MoU) to introduce cutting-edge health technology and...
Business
‘ESG, AI and robotics remain FII’s investment focus’
FII Institute remains committed to innovative and sustainable technology investments, Anthony Berkley, ACT Director and Head of Investments, tells TRENDS.
Interview
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Business
Saudi Exchange to launch Single Stock Options contracts
Riyadh, Saudi Arabia – The Saudi Exchange on Sunday announced its intention to launch the Single Stock Options (SSOs) contracts,...
- SSOs contracts will be available to trade on 27 November 2023, enabling local and international investors to hedge and manage portfolio risks effectively
- The contracts will be cleared and settled by the Securities Clearing Center Company (Muqassa) in line with international best practices
Business
Arab Bank posts net profit
It posted a profit of $630 million in January-September 2023.
- The Group maintained its strong capital base with a total equity of $10.8 billion.
- Excluding the impact of devaluation of several currencies against the US dollar, loans grew by 4 percent.
Business
Hamriyah Freezone Authority, Amazon UAE ink pact for logistics center
SHARJAH, UAE - Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics center...
- Once launched, the new center will enable a seamless delivery experience across the Northern Emirates.
- HFZA’s location and over 20 years of Amazon’s technology and operational expertise will enhance convenience for customer orders.