Oil giant Aramco says to offer shares worth over $10 bn on Saudi bourse
Riyadh, Saudi Arabia - Oil giant Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than...
Business
Saudia Group in ‘landmark’ deal for 105 Airbus planes
In a wide expansion of aviation services, Saudi Arabia's top airline Saudia Group has place an order of 105 aircraft...
Opinion
Integrated solutions make life a bit easy for SMBs
An integrated, modern, end-to-end solution can provide SMBs with more visibility, flexibility and efficiency in managing finances, operations and people....
- Many small and medium businesses still use a combination of standalone, on-premises business solutions for accounting, payroll and human resources
- An integrated, modern, end-to-end solution can provide SMBs with more visibility, flexibility and efficiency in managing finances, operations and people
Business
Tecom lists 12.5% shares on DFM
Price for the 625,000,000 shares ranges between AED2.46 and AED2.67 per share.
- Tecom Group, the owner, manager and operator of 10 business districts across Dubai, will float 625,000,000 shares
- The qualified institutional offering and the exempt offer subscription period is expected to run from June 16-24
Business
Aramco sustainability report lays down plans for net-zero ambition
Aramco publishes its first sustainability report which outlines ways in which the company plans to further tackle emissions while delivering...
- The report provides information on Aramco's efforts to support the broader energy transition
- Aramco expects to update the sustainability report on an annual basis
Business
Israel, Egypt to export gas to EU in its bid to cut Russian imports
Russia's war against Ukraine has exposed our European dependency on Russian fossil fuels, and we want to get rid of...
- The memorandum of understanding on gas exports between Egypt, Israel and the EU was signed at the East Mediterranean Gas Forum.
- Under a $15 billion deal in 2020, Israel already exports gas from an offshore field to Egypt, where it is liquefied and shipped to Europe.
Business
Gazprom to cut Italian energy giant Eni’s gas supply by 15 percent
Russia's Gazprom told Eni it would cut its gas supply by around 15 percent for Wednesday, the Italian energy giant...
- Italy buys the majority of its natural gas from overseas -- and more than 40 percent of its imports come from Russia.
- Since Russia invaded Ukraine, triggering unprecedented Western sanctions against Moscow, Italy has been scrabbling to cut that reliance.
Economy
China’s recovery to take oil demand to pre-Covid levels by 2023: IEA
Demand is set to grow to 101.6 million barrels per day in 2023, according to the IEA, which advises developed...
- Soaring oil prices and weaker economic growth is likely to temper the growth of demand in the second half of this year.
- The IEA expects global oil demand to grow to 99.4 million barrels per day in 2022 -- higher than its previous estimates.
Business
Qatar Chamber and Jordan to enhance private sector cooperation
Qatar Chamber and the Jordanian Ministry of Labor discussed Tuesday ways to enhance bilateral relations and the private sector's role...
- Qatar Chamber First Vice-Chairman Mohamed bin Twar Al Kuwari met with Jordanian Minister Nayef Stetieh.
- Jordanian Minister of Labor Nayef Stetieh pointed to the Qatari initiative to employ 20,000 Jordanians in Qatar.
Economy
1970s-style inflation, shrinking economy: Rebalance your investments
The painful combination of chronic 1970s-style inflation and a shrinking economy means that you might need to rebalance your investments,...
- Inflation in Latin America's largest economies is the highest it's been in 15 years, while the overall rate in Sub-Saharan Africa is expected to grow to 12.2 percent this year.
- What remains unknown is how long this difficult period of high inflation will go on for and what will be its lasting ‘legacy, said deVereGroup CEO Nigel Green.
Business
OIC aims for 25 percent trade among member states by 2025
OIC has set a target of 25 percent trade among member states in the next three years by 2025 and...
- Organization of Islamic Cooperation has set a target of 25 percent trade among member states by 2025
- Biennial general trade fair is vital for promotion of trade and services among OIC member states
Business
Dubai ruler issues decree establishing toll operator Salik as company
Dubai road toll operator Salik has been established as a Public Joint Stock Company according to a law issued by...
- According to a law issued by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum the Dubai Government owns all the shares of Salik Company.
- The Executive Council of Dubai is authorized to determine the percentage of shares that can be offered for subscription either through an IPO or private placement.
Oil giant Aramco says to offer shares worth over $10 bn on Saudi bourse
Riyadh, Saudi Arabia - Oil giant Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than...
Business
Company News
Latest News
Microsoft announces $3.2 billion investment in Australia
Details of the deal were outlined by bosses at the US tech giant and by Australia's prime minister, Anthony Albanese,...
Most Read
Investigation
Funding key challenge for Middle East innovators
Deep-tech companies in the Middle East are facing challenges due to limited funding and inadequate R&D centers, leaving entrepreneurs seeking...
- Deep-tech companies in the Middle East are facing challenges due to limited funding and inadequate R&D centers, leaving entrepreneurs seeking a more supportive ecosystem
- Startups struggle to monetize intellectual property, and despite universities' support to develop IPs, the main challenge for them is achieving sustainability and profitability
Market Report
Markets fall as traders wary due to Gaza war, Fed interest rates
Paris, France - Stock markets slid on Monday, extending last week's sell-off n fears of a regional conflict in the Middle...
- Oil prices slid as Israel's expected ground offensive against Hamas in Gaza was delayed, with diplomats trying to secure the release of more hostages.
- The concerns about US interest rates have also been affecting bond markets, with the yield on 10-year US government bonds rising above 5.0 percent.
Business
British Steel to cut 2000 jobs
British Steel is battling losses of $36 million a month.
- The potential staff cuts are said to be a key plank of plans to replace its coal-powered blast furnaces with electric arc furnace (EAF) technology.
- The switch could unlock new funding for Chinese group Jingye, which has owned British Steel since 2020, including up to £300 million of taxpayer funding.