Middle East commercial aircraft services market to grow to US$28bn
Abu Dhabi, UAE--The MENA region's commercial aircraft services market will more than double in value by 2042, according to Airbus’...
Business
Qatar and Egypt hold talks to ramp up civil aviation cooperation
Cairo, Egypt-- Qatar and Egypt have discussed enhancing ties in the field of civil aviation between the two countries. In...
Business
Analysis
Europe energy market: Will Qatar replace Russia?
The United States has asked Qatar to supply gas to Europe if Russian supplies were disrupted due to Moscow's military...
- Qatar gas exports account for about 106 billion cubic meters, with 80 percent going to Asia and 20 percent to Europe
- Qatar could cover around 13 percent of Russian gas imports to the European Union and the United Kingdom
Business
Ras Al Khaimah Tourism Development Authority on Best Workplaces List
Ras Al Khaimah Tourism Development Authority (RAKTDA) has achieved sixth place on the Best Workplaces List of 2022 – Small...
- It was also named one of the Best Workplaces for Women and a Great Place to Work in 2021.
- RAKTDA was also recognized as the ‘Government Entity with the Happiest Work Environment' in the emirate.
Business
ECI signs MoU with Terminus Group to strengthen digital infra projects
Etihad Credit Insurance (ECI), the UAE Federal export credit company, has signed a Memorandum of Understanding (MoU) with Terminus Group,...
- The ECI said that it will safeguard the Terminus Group’s receivables and mitigate potential risks while trading in the UAE market or entering new competitive business settings.
- Terminus Group is exploring with UAE strategic partners to bring its innovation and manufacturing capabilities to the UAE by setting up an innovation hub.
Business
Firms listed on Muscat Stock Exchange post $1.4bn in net profits
Omani companies, which are listed on the Muscat Stock Exchange (MSX), reported total net profits of $1.39bn for the year...
- The profits were 3.7 percent less than the $1.44bn in 2020 due to a fall in net profits of four out of the top five sectors at the MSX.
- As per the report, Oman’s banking sector, the biggest sector in the exchange by market capitalization, offset some of the net profit declines of other main sectors.
Business
NBK Q1 net profit $383m
Total assets by the end of March grew by 8.7 percent YOY.
- Total loans and advances increased by 12.3 percent year-on-year to $66 billion, and total shareholders’ equity reached $11.2 billion.
- Net operating income of KD 236.5 million ($778.3 million), increasing by 6.8 percent compared to Q1 2021.
Business
Increase in demand helps GCC real estate recover
From the UAE to Saudi Arabia, Qatar to Kuwait, the GCC countries have posted robust growth in the real estate...
- Dubai saw the most significant recovery in the UAE real estate market, with the total value of residential real estate transactions increasing to $35bn by 2021
- According to data compiled by the Saudi newspaper Al-Watan, the real estate sector had the most significant value of contracts in Q4 2021
Business
Nakilat Q1 net profit up 19.28 percent
Nakilat noted that earnings per share amounted to QR 0.07 in Q1 2022.
- Compared to its profit in April of 2021 which, stood at QR 320.106 million, the profit reached QR 381.835 million.
- Nakilat represents the main transport link in the global supply chain of liquified natural gas from the State of Qatar.
Infographics
Star-studded projects point to Saudi transformation
Some of the iconic real estate holdings developed by Taiba throughout Saudi Arabia suggest that the Kingdom is headed towards...
- The company is a key supporter of Saudi Arabia’s transformative Vision 2030, in particular in regard to economic diversification.
- Taiba, which has interests in hotels, tourism facilities and real estate, has a market capitalization of $1.5 billion, Refinitiv data shows.
Business
Jordan and Azerbaijan look to boost trade ties
According to the statement, a Jordanian-Azerbaijani Economic and Investment Business Forum will be held in the coming period
- The meeting also discussed the successful economic policies established by the Kingdom to support the private sector
- It encourages foreign investment and provides more investment opportunities for companies wishing to invest in the Kingdom
Business
SHL of KSA to be on bourse
Saudi Home Loans to trade on Tadawul from April 20.
- Operating since 2007, SHL is 40-percent owned by Arab National Bank, the second-largest shareholder is Dar Al Arkan, with 15 percent of the share capital
- The Riyadh-based company raised SR600 million ($160 million) in an initial public offering last month that saw huge demand from investors
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Middle East commercial aircraft services market to grow to US$28bn
Abu Dhabi, UAE--The MENA region's commercial aircraft services market will more than double in value by 2042, according to Airbus’...
Business
Company News
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ADX inks pact with Expo Center Sharjah to boost financial services
Abu Dhabi, UAE - The Abu Dhabi Securities Exchange (ADX) signed an agreement with the Expo Center Sharjah to enhance...
Business
Central Bank of Bahrain treasury bills oversubscribed by 149 percent
MANAMA, BAHRAIN - This week’s BD 70 million (US$186 issue of Government Treasury Bills has been oversubscribed by 149 percent....
Business
IsDBI, BIBF join hands to enhance global Islamic finance expertise
MANAMA, BAHRAIN - The Bahrain Institute of Banking and Finance (BIBF) and the Islamic Development Bank Institute (IsDBI) have decided...
Business
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Business
Arab countries account for 60 percent of global Islamic financial industry, says AMF
ABU DHABI, UAE – Director-General and Chairman of the Board of Directors of the Arab Monetary Fund Dr Abdul Rahman...
- Setting accounting standards for Islamic finance institutions helps support the growth of the industry.
- Maintaining the Islamic financial industry's achievements requires focusing on capacity building.
Business
Qatar launches ‘Istamer’ platform to employ retirees in private sector
DOHA, QATAR - The Ministry of Labor (MoL) launched the "Istamer" digital platform, which deals with employing Qatari retirees wishing...
- The platform’s purpose is to aid retired persons keen on re-entering the workforce find jobs in private institutions aligned with their expertize.
- The platform streamlines the entire recruitment process, from application submission to interviews and final job offers, which is all conducted online.
Business
ADNOC, TAQA complete financial closing on sustainable water supply project
ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...
- A consortium comprising Orascom Construction and Metito (the Consortium) will construct a centralized world-class seawater treatment facility.
- ADNOC and TAQA own a joint 51 percent majority stake (25.5 percent each), the Consortium owning the remaining 49 percent stake in the project company.