Saudi Arabia transfers 8% Aramco stake to PIF-owned firms
Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...
Business
Trailblazing women transform finance in Arab world
Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.
Business
Business
All that glitters: How the money-spinning IPL turned cricket into gold
IPL teams receive a share of television rights, around 15 percent of ticket sales and sponsorship money as well. They...
- IPL expanded to 10 teams this year from the original eight. Lucknow Super Giants and Gujarat Titans are the new franchises
- Disney paid $2.55 billion for a five-year television and digital rights deal to broadcast IPL tournaments on Star India
Business
Emirates Steel Arkan Q1 profit $19.62m
The firm said the impact of Emirates Steel and Arkan merger was positive.
- The company announced revenues of AED2.04 billion for the first quarter of 2022, compared to AED233.5 million in 2021.
- It said the net profit was boosted by enhanced operational performance and higher sales volumes.
Geostrategy
France says EU deal on Russia oil embargo possible this week
The embargo on Russian oil, which is part of a sixth package of EU sanctions under discussion, is being resisted...
- New discussions on the Russian oil embargo are expected to be held between European leaders by telephone on Tuesday
- It will involve French President Emmanuel Macron, EU Commission President Ursula von der Leyen, and Hungary's Prime Minister Viktor Orban
Business
Sony logs record full-year sales
However, net profit dipped 14% from the last year's record high.
- A lockdown-fueled gaming boom has slowed down, but Sony has seen success in other sectors
- Spider-Man: No Way Home has overtaken Avatar as North America's third-highest-grossing film
Business
Agthia Group Q1 revenue is Dh1b
The company’s net revenues are up 58% year-on-year.
- Net profit increased to AED 82 million, growing at a higher rate vs revenue and supported by the consolidation of margin accretive acquisitions in 2021
- Strong start to 2022 builds on successful first year of Agthia’s five-year growth strategy
Analysis
‘Workplaces must prioritize mental health’
In many industries, working from home is the way of the future and a better working and mental lifestyle, Quartz...
- People tense or stressed at work are more than three times likely to plan to look for a new job
- In contrast, employees who feel supported are more likely to stay, lowering turnover costs
Science
Saudi Space Commission looks to explore cooperation with NASA
Saudi Space Commission Board of Directors Chairman Abdullah Amer Alswaha is on a tour of the US to develop the...
- The two countries discussed opportunities for strategic cooperation to develop the space sector
- They also mulled investment in future joint projects to achieve mutual economic and strategic goals
Market Report
Bitcoin falls below $30,000, lowest since July 2021
Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors...
- Bitcoin's value has more than halved since a November surge that saw the token hit a record of nearly $69,000
- Traditional investors have been offloading bitcoin and other digital tokens along with other volatile assets like tech stocks
Business
Arabian Travel Market 2022 kicks off in Dubai
The Chairman of Dubai World Sheikh Ahmed bin Saeed Al Maktoum, inaugurated the 29th edition of the Middle East’s largest...
- ATM 2022 is part of Arabian Travel Week, a 10-day festival of travel and tourism events taking place in Dubai
- It provides a vital platform for tourism and travel industry leaders in the Middle East
Business
UN seeks $80m from donors to remove ship off Yemen coast
The UN will ask for $80 million in donations in order to remove nearly a million barrels of oil on...
- UN-backed engineers have been prevented from inspecting the 45-year-old ship by the Iran-backed Houthis
- A new scheme devised by UN Humanitarian Coordinator for Yemen David Gressly will see the UN attempt to raise $80 million from donors at a conference
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
Saudi Arabia transfers 8% Aramco stake to PIF-owned firms
Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...
Business
Company News
Asian markets swing as US jobs data disappoint
Market Report
Latest News
Crypto fund co-founder arrested, jailed in Singapore
According to the company's liquidator, Su Zhu was detained at Singapore's Changi airport while trying to leave the city-state. He...
Business
Saudi Fund for Development and Seychelles sign US$25m loan agreements
Riyadh, Saudi Arabia-- The Saudi Fund for Development (SFD) has signed two loan agreements with Seychelles to support the social...
Business
Greece and Saudi Arabia agree to link their power grids
Athens, Greece - Greece and Saudi Arabia announced their agreement to establish a jointly-owned company with the goal of connecting...
Economy
Most Read
Business
Qatar and Libya sign MoU to boost cooperation in civil aviation
Tripoli, Libya-- Qatar and Libya have signed a memorandum of understanding (MoU) to boost cooperation in the field of civil...
- The MoU is a component of joint efforts by the two countries to deepen bilateral relations in the aviation sector
- It is also designed to enhance ways of cooperation in the field of security and safety, and exchanging experiences
Business
UAE, KSA lead the way in Islamic fintech innovation
Islamic fintech assets will rise from 0.8% to more than 1 percent globally by 2025, driven by young Muslim demand...
- Islamic fintech assets will rise from 0.8% to more than 1 percent globally by 2025, driven by young Muslim demand and favorable regulations, predicts Moody's
- Gulf's Shari'ah-compliant banks, led by Saudi Arabia at 83% market share, are expected to outpace traditional banks through 2024, with Bahrain following at 69%
Geostrategy
DIB to buy stake in TOM Group
DIB felt Turkey is a great investment destination.
- DIB will acquire 20 percent shareholding across T.O.M. Group with an option to increase shareholding to 25 percent within 12 months.
- DIB has long held the view that Turkey was an attractive investment destination for a financial services institution.