Non-Jordanian investors own 47% of ASE market value as of February 2024
AMMAN, JORDAN – Data released by the Amman Stock Exchange reveals that non-Jordanian investors bought shares worth US$12.5 million (JD8.9...
Market Report
GCC records surge in women’s workforce participation
Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS...
Business
Economy
Algeria president sacks central bank chief
Algerian President Abdelmadjid Tebboune on Monday sacked central bank chief Rostom Fadli, in office for less than two years, the...
- Fadli had taken office in June 2020 as interim head of the central bank of Africa's fourth-biggest economy, later being confirmed in the role
- Algeria is a rentier economy dependent on oil exports for 90 percent of its foreign income, and therefore vulnerable to price movements
Economy
‘Central bank digital currencies can transform financial system’
More countries are experimenting with CBDCs and some are beginning to bring them to market, potentially offering lessons for the...
- More countries are experimenting with CBDCs and some are beginning to bring them to market, potentially offering lessons for the rest of the world
- Some of the questions that were debated included the macroeconomic and geopolitical implications surrounding the roll-out of CBDCs
Business
Dubai Chamber of Commerce reports 55% membership growth in April 2022
The new member companies joining Dubai Chamber of Commerce in April 2022 reached 3,056, bringing the Chamber's total membership to...
- The new member companies joining Dubai Chamber of Commerce in April 2022 reached 3,056, bringing the Chamber's total membership to 300,000 companies
- The value of members' exports and re-exports in April 2022 amounted to AED20.2 billion, growing by 16.7 percent from the AED17.3 billion posted in April 2021
Business
Iran signs multiple trade deals with Oman during president’s visit
A delegation of 50 Iranian businessmen travelled to Oman last week, with Iran's minister for roads and urban development announcing...
- Both the countries signed 12 memoranda of understanding including in the fields of oil and gas.
- Oman is seeking to import gas from Iran by building an offshore pipeline between the two countries.
Business
Alpha Dhabi to invest in Borouge IPO
The conglomerate will invest $99 million as corner investor.
- Alpha Dhabi's investment comes as the company continues to scale its highly diversified portfolio, it said.
- The company said petrochemical vertical remains a key target sector for it.
Business
Multiply to invest in Borouge IPO
The company to make this investment at the final offer price set by Borouge.
- Borouge has adopted a comprehensive sustainability agenda with a strong focus on promoting a zero-waste plastics circular economy
- It aims to reduce its Scope 1 emissions by 25 percent, its energy intensity by 30 percent and continuous flaring by 100 percent by 2030
Business
Aramco, Etisalat top list of GCC’s valuable firms
Although the last several months have been hard for listed businesses in the Middle East, yet many have defied the...
- The banking and financial services sector has seen its worth grow much more than other sectors
- Still, individual companies like Aramco of Saudi Arabia and Etisalat of UAE are by far the most valuable companies in the region
Business
Trial of two Europeans for Iraq antiquity theft adjourned
An Iraqi court on Sunday adjourned for two weeks the trial of a Briton and a German man accused of...
- James Fitton, 66, a retired British geologist, and Volker Waldmann, 60, a Berlin psychologist, have been in custody since they were arrested on March 20 at Baghdad airport
- The trial was adjourned until June 6 to allow time for further investigations, at the request of Waldmann's defense lawyer, Furat Kuba
Business
Davos summit of global elites returns after two-year break
The Davos summit of global political and business elites returns Monday after a Covid-induced two-year break to face another momentous...
- The theme of the World Economic Forum, "History at a Turning Point", sets the tone for the four-day meeting in the glitzy Swiss mountain resort
- More than 50 heads of state or government will be among the 2,500 delegates, ranging from business leaders to academics and civil society figures
Business
Nayifat CEO resigns
Al-Sowailem resigned due to “personal circumstances."
- Al-Sowailem held the position of managing director and has resigned from his membership in the board of directors and committees
- The company said it will announce any further developments relating to the appointment of a new or acting CEO at the earliest opportunity
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Non-Jordanian investors own 47% of ASE market value as of February 2024
AMMAN, JORDAN – Data released by the Amman Stock Exchange reveals that non-Jordanian investors bought shares worth US$12.5 million (JD8.9...
Market Report
Company News
Aston Martin H1 revenue up
Business
Latest News
NBF H1 net profit up 120 percent
Business
DIB H1 2023 net profit $844m
Business
ADNOC and Occidental to advance direct air capture project in UAE
Abu Dhabi, UAE -- ADNOC and international energy company, Occidental, announced today an agreement to undertake a joint preliminary engineering...
Business
South Korean firms eyeing expansion in UAE’s oil and gas sector
Abu Dhabi, UAE -- Top executives from South Korean companies have affirmed that numerous firms are actively looking to expand...
Business
Most Read
Business
Adnoc Gas awards contract
Nearly US$615m will be paid to build carbon-capture units.
- Adnoc Gas said the large-scale project reaffirms its steadfast commitment to maximising energy output while minimising emissions
- The project expected to be started in 2026 will inject CO2 for permanent storage in ADNOC Onshore's Bab Far North Field
Business
Masdar enters Tajikistan market with plans to explore 500MW clean energy projects
Abu Dhabi, UAE - UAE’s clean energy powerhouse Masdar expands Central Asian presence with agreement to explore ground-mounted solar, onshore...
- MW Energy, a joint venture between Abu Dhabi Future Energy Company – Masdar and W Solar Investment, has signed an agreement with Tajikistan’s Ministry of Energy
- The collaboration will focus on the development of solar photovoltaic (PV), wind, and hydropower projects through a Public-Private Partnership (PPP)
Business
Growing IT outlays intensify MENA’s transformation
The region's IT spending is set to rise by 4% to $183.8 billion in 2024, with software and IT services...
- The region's IT spending is projected to rise by 4% to $183.8 billion in 2024, with software and IT services witnessing double-digit growth
- This surge aligns with the MENA region's push for digital transformation, enhanced cybersecurity, and a focus on generative AI initiatives