Global football stars choose Red Sea destination for holiday
TABUK, SAUDI ARABIA – A few days ago, the Red Sea destination hosted several international football stars from Saudi Pro...
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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
Global football stars choose Red Sea destination for holiday
TABUK, SAUDI ARABIA – A few days ago, the Red Sea destination hosted several international football stars from Saudi Pro...
Business
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General Motors Q2 profits up
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Aldar to redevelop two malls
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Vietnam plans to auction rights to its largest rare earth mine
Hanoi, Vietnam - Vietnam plans to auction the rights to exploit its largest rare earth mine, a project partner said Thursday,...
Business
ADNOC to deploy UAE-made drones
ADNOC's partnership with EDGE Group aimed at cutting emissions.
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Business
ADNOC awards two contracts for Hail and Ghasha Offshore Development project
ABU DHABI, UAE – ADNOC on Thursday announced the final investment decision (FID) and award of contracts for the Hail...
- The first contract for the offshore facilities has been awarded to a joint venture between National Petroleum Construction Company and Saipem.
- The second contract will deliver the onshore scope, including carbon dioxide and sulphur recovery and handling and has been awarded to Tecnimont.
Business
Value of Dubai realty deals up 40 percent in third quarter 2023
Dubai, UAE -- The value of real estate deals in Dubai increased by 40 percent to reach AED 97.55 billion...
- The emirate's market surged 22 percent in terms of transactions, with Q3 2023 recording 31,216 transactions compared to 25,503 in the same period in 2022.
- In terms of the number of transactions, Jumeirah Village Circle topped with 1,418 transactions, followed by Arjan (1,163) and Sobha Hartland (1,115).
Business
Saudi Jisr raises $30m investment from Merak Capital
Riyadh, Saudi Arabia - Jisr, the largest platform for digitizing human resources operations in Saudi Arabia, has closed an investment...
- This marks the largest Series A investment round for a Software as a Service (SaaS) company in the Middle East
- Jisr, founded in 2016, stands as the first Saudi human resources management platform, supporting over 3,000 clients