As ‘news deserts’ spread, US journalism fights on
Baltimore, United States - Baltimore Banner reporter Matti Gellman is first to leap in with questions during a recent press appearance...
Business
Special economic zones are a new craze in Middle East
Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business...
Business
Business
Egypt looks to rake in $3.5bn in revenues from Suez Canal in H1
Egypt is expecting to rake in $3.5 billion in revenues from the Suez Canal during the first half of 2022,...
- Revenues from the canal have increased by around 23 percent in May 2022, compared to the year earlier, to reach $657 million
- Rabie attributed the high revenues to the growth of the global economy, the continued recovery of global trade, pricing policy and the Canal’s fee rise
Business
UAE firm to screen passengers at four Afghan airports for three years
The Taliban have tasked a United Arab Emirates firm with the security screening of passengers and luggage at Afghan airports,...
- While some domestic and international flights are operating out of the capital's only airport, significant support is needed for major foreign airlines to resume a full service.
- Abu Dhabi-based GAAC said it will manage screening at Kabul, Herat, Kandahar and Mazar-i-Sharif airports for the next three years.
Business
Saudi personal finance market posts 4.4% jump to $18.96bn
Saudi Arabia's finance companies have provided a whopping $18.96 billion in personal finance loans to the kingdom's citizens during the...
- The real estate loans increased by 1.3 percent to SR26 billion in the first quarter compared to the last quarter of 2021
- Compared to the fourth quarter of 2021, the real estate loans for corporates recorded a higher growth rate at 4.74 percent against 0.72 percent increase that was seen in retail loa
Economy
Morocco launches agency to regulate medicinal cannabis
Morocco's national regulatory agency overseeing the use of cannabis for medical use met for the first time Thursday in one...
- Chaired by Interior Minister Abdelouafi Laftit, the "National Agency for the Regulation of Cannabis Activities" approved its organisation chart and budget for the year 2022
- The agency will be responsible for controlling all stages of the production chain, from the import of seeds to the marketing of cannabis products
Business
Air bridge set to help airlines fly Fifa fans to Qatar
Many GCC airlines have teamed up to create an air bridge to fly the fans to watch World Cup games...
- Various airlines from Qatar, Kuwait, Saudi Arabia, Oman, and Dubai announced the establishment of a daily air bridge between Doha and the GCC countries during the World Cup
- The World Cup will draw a massive crowd with the International Football Association stating that it had received more than 23.5 million requests to purchase tickets
Opinion
Goal vs strategy: Aim remains same, mode may modify
The most successful active owners keep a ‘Plan B’ ready. Many real-life structural and organizational conditions need to be in...
- The most successful active owners keep a ‘Plan B’ ready. Many real-life structural and organizational conditions need to be in place to enable strategy optimization.
- A constructive board of directors, including vocal independent members and experts, is an indispensable ally of the active owner
Business
Fitch enhances Ras Al Khaimah rating to ‘A’, outlook upgraded to ‘positive’
The government spending, partly supported by significant revenues from government assets, have enabled Ras Al Khaimah to diversify its economy,...
- The government spending, partly supported by significant revenues from government assets, have enabled Ras Al Khaimah to diversify its economy, says the latest Fitch report.
- The emirate’s agility in terms of spending has led to a budget surplus in the government sector equal to 1.4 percent of GDP in 2021, adds US-based credit rating company.
Business
Jordanian firms forge trade partnerships at APAS Show 2022
Jordanian companies forged trade partnerships during their participation in the APAS Show 2022, an annual food and beverages exhibition held...
- Seven companies participated in the Jordanian pavilion, which was organized by the Jordanian-Brazilian Business Association and Jordan Exports.
- Jordan Chamber of Industry President Fathi Jaghbir said the "successful" Jordanian participation has laid the groundwork for future business.
Business
MA’ADEN, GlassPoint to develop heat plant
The facility will be the world's largest solar process heat plant.
- When completed, the 1,500 MW solar steam facility will help MA’ADEN achieve sustainability goals by reducing carbon emissions by over 600,000 tons annually.
- This represents more than 50 percent reduction of carbon footprint in MA’ADEN’s Alumina refinery and 4% of MA’ADEN’s overall carbon footprint.
Economy
OPEC to boost oil production as prices surge and EU bans Russian imports
Major oil producers led by Saudi Arabia and Russia on Thursday decided to open taps wider than expected amid soaring...
- Analysts had expected OPEC+ producers to stick to their policy of modest output increases, as they have done since May 2021.
- OPEC+ drastically slashed output in 2020 as demand slumped when the world locked down under the coronavirus pandemic.
As ‘news deserts’ spread, US journalism fights on
Baltimore, United States - Baltimore Banner reporter Matti Gellman is first to leap in with questions during a recent press appearance...
Business
Company News
Zain Group profit jumps 14%
Business
Latest News
Israel-Gaza conflict won’t impact Riyadh FII summit outcome: CEO
Riyadh, Saudi Arabia -- The tragic developments in Gaza won't have a huge impact on the overall outcome of the...
Business
Women break barriers for gender equality in finance
This culture should recognize and value the contributions of women and prioritize their growth and development. By highlighting successful women...
Opinion
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Business
Turkey’s Atis Yapi opens Dubai office
This is the real estate giant's first office in the UAE.
- This follows signing of agreements and MoUs worth $50.7 billion between UAE President Sheikh Mohammed bin Zayed Al Nahyan and his Turkish counterpart Recep Tayyip Erdoğan in July.
- Atış Yapı said it is set to develop a modern and competitive portfolio of residential and commercial projects in the UAE.
Business
FAB net profit up $3.4bn in 9M 2023
The bank reported total revenue of $5.6 billion.
- The bank reported total revenue of $5.6 billion, marking a 38% year-on-year growth
- The return on tangible equity improved to 18.3%, with Group CET1 reaching 14.2% as of September 2023
Economy
Saudi Arabia’s economy to grow 3.2% from 2023-2026: Moody’s
Riyadh, Saudi Arabia -- Saudi Arabia’s economy is expected to grow by 3.2 percent on average between 2023 and 2026,...
- The National Debt Management Center quoted the agency's forecasts that the non-oil sector will be strong in the coming year.
- The Saudi government, according to Moody's, is making progress in implementing its comprehensive reform program.