Central Bank of Bahrain Sukuk Al Ijara oversubscribed by 186 percent
Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al...
Business
Gross written premium rises by 12.7% in Q4 2023 to US$14bn, says CBUAE
ABU DHABI, UAE - The UAE insurance sector continued to grow in Q4 2023, as reflected by the increase in...
Economy
Business
Pfizer posts 77% jump in Q1 revenues to $25.7bn
Pfizer reported another quarter of huge revenues growth because of its Covid-19 vaccine on Tuesday, but lowered the company's full-year...
- Net income jumped 61 percent to $7.9 billion
- Pfizer confirmed its full-year revenues forecast, in which about just over half of total sales stem from the Covid-19 innoculation and from Paxlovid
Business
Iran oil minister meets Venezuela President amid rising oil prices
The two countries are said to have discussed ways to ‘overcome’ the effects of US sanctions against both nations.
- Javad Owji's visit to Venezuela came just weeks after a visit by US officials in the midst of rising global oil prices
- In March, a US delegation held a meeting with Maduro, whose very legitimacy as president Washington disputes
Arts & Culture
Jeddah Season 2022 kicks off in Saudi Arabia
This year's Jeddah Season is expected to feature international events and artistic and theatrical performances, Arab and international art concerts,...
- Jeddah Season 2022 is expected to make Jeddah a permanent destination for tourism, entertainment, and events in the region
- The 60-day event will reportedly see 2,800 activities in nine main zones in the presence of Jeddah residents and visitors
Business
Rockets hit key oil refinery in Iraq, causes minor damage
Six rockets landed Sunday in northern Iraq's autonomous Kurdistan region, Kurdish counter-terrorism forces said, with "minor damage" reported at a key...
- Kurdish counter-terrorism forces said in a statement that six rockets fell near the Zab river in the Khabat district
- The attack which caused no casualties or damage was not immediately claimed by any organization
Infographics
What are the GCC’s top stock exchange constituents?
What are the top constituents of stock exchanges spread across the GCC countries? Here’s our infographic.
- Some constituents — publicly traded companies — of the MSCI World Index would be heavier than others
- And countries within the Gulf Cooperation Council have some of the biggest public companies in the world
Business
Finland firm scraps nuclear plant deal with Russia
Finnish-led consortium Fennovoima said on Monday it has terminated a contract with Russian group Rosatom to build Finland's third nuclear...
- The proposed 1,200-megawatt Russian-designed reactor was to be built in Pyhajoki, about 100 kilometres (60 miles) from the port of Oulu in northern Finland
- Two days before Russia's invasion of Ukraine, the Finnish government had said it was re-evaluating the security risks for the 7.5-billion-euro deal
Business
Kuwait rebuilding five commercial license centers across country
Kuwait’s Ministry of Public Works has announced it will be re-building five commercial centers across the country. Local media reports,...
- Hawally Center, Khaitan Center, Mansouriya Center, Al-Dhahr Center and Al Ayoun Center are spread across different governorates.
- Each building consists of a basement, a ground floor, first and second floors, and the roof.
Economy
Stock markets slide all across as Fed rate hike looms
Asian and European markets fell in holiday-thinned trade Monday following another tech-led rout on Wall Street, with focus on the...
- Trading floors around the world have been buffeted for months by a perfect storm of crises including China's lockdowns, surging inflation, Fed plans to hike rates
- However, with some commentators warning rates could go as high as three percent, there are also worries the Fed could be too heavy-handed and tip the US economy into recession
Analysis
Eid holidays boost Gulf tourism as COVID curbs ease
From overseas to the domestic circuit, the tourism industry in the Gulf Cooperation Council is witnessing a welcome resurgence, especially...
- Gulf citizens are looking to spend Eid al-Fitr abroad after being compelled to stay home for the past two years
- This year’s Eid al-Fitr holiday witnessed high occupancy in the UAE hotel sector, driven by strong domestic tourism demand
Business
Qantas to launch longest non-stop passenger flight
Qantas announced on Monday it will launch the world's longest non-stop commercial flight, with passengers set to spend 19 hours...
- Non-stop flights will start from Sydney by the end of 2025, it said, with long-haul trips later planned to include Melbourne
- Qantas has announced ordering 12 Airbus A350-1000 aircraft to operate the "Project Sunrise" flights to cities including London and New York
Central Bank of Bahrain Sukuk Al Ijara oversubscribed by 186 percent
Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al...
Business
Company News
Waha Capital H1 2023 profit up 221%Â
Business
Latest News
Black Cobra signs MoU with OSTIM
Business
Abu Dhabi’s Mubadala to invest $1 billion a year in Brazil
New York, United States - Mubadala Capital, the investment arm of Abu Dhabi’s sovereign wealth fund, plans to invest more...
Business
First wind turbines reach Saudi green hydrogen plant, says CEO
RIYADH, SAUDI ARABIA - The first wind turbines have arrived at what Saudi officials bill as the world's biggest green hydrogen...
Business
Most Read
Business
Belt and Road Initiative generated $2 trillion in contracts: China
Beijing said Tuesday the value of signed construction contracts with partners now totaled two trillion dollars -- roughly the size...
- China is hailing this month the 10th anniversary of its Belt and Road Initiative (BRI), which has seen Beijing pour a trillion dollars into projects globally
- Beijing's Silk Road Fund, established to help fund BRI projects, has "signed agreements on 75 projects with committed investment of about $22 billion"
Business
Major equity markets up, oil dips after surge on Israel-Hamas conflict
"Equity markets are bouncing back on Tuesday after a risk-averse start to the week, buoyed... by some promising Fed commentary,"...
- Europe's main stock markets jumped more than 1.5 percent approaching the half-way stage, and after a largely upbeat session in Asia and overnight on Wall Street
- Oil prices dropped, having soared Monday after Hamas launched a deadly attack on Israel, stoking fear of spreading unrest in the crude-rich Middle East
Business
ADNOC Drilling to pay $358m dividend
The company's H1 revenue increased by 13% to $1.4 billion.
- Since listing on Abu Dhabi Securities Exchange, and including this latest interim dividend payment, the Company will have distributed $1.36 billion to shareholders.
- The interim dividend distribution will be on or around October 27, 2023, to all shareholders of record as of October 19, 2023.