UAE real estate sector transforms with cross-border payments revolution
Dubai, UAE - Leading financial institutions are spearheading a transformative wave in the UAE real estate sector through the introduction...
Major stock markets trade mixed as US inflation data awaited
London, United Kingdom - Major stock markets traded mixed Thursday before the release of US inflation data that could present a...
Business
Business
Fitch Ratings says Saudi corporates’ funding mix is evolving
Saudi corporates’ funding mix is evolving, with the debt capital market for firms increasing noticeably and averaging a 10 percent...
- Fitch also expects the large Islamic banking sector to drive domestic sukuk growth
- Local Sukuk issuances have steadily grown in the local capital market, totalling 41 percent of DCM activity in 2021
Business
UAE and Saudi stocks post gains this week
The UAE and Saudi stock markets posted considerable gains this week even as oil prices took a dip with the...
- TASI rose 15.7 percent during the first quarter of 2022
- Abu Dhabi index rose 17.2% over this quarter while the Dubai index grew by more than 10%
Business
DEWA to increase shares for retail investors to 760 million
DEWA has decided to increase number of shares from 260 million to 760 million to be offered to retail investors...
- This means the number of shares offered in the DEWA IPO has increased from 8.5 billion ordinary shares to 9 billion ordinary shares
- Based on the previously announced price range of AED2.25 to AED2.48 per share, the Retail Tranche will now be between AED1.71 billion and AED1.88 billion
Business
Iraq exports oil worth $11bn in March, a fifty-year record
Iraq exported $11.07 billion of oil last month, the highest level for half a century, as crude prices soared amid...
- The figures published late Friday are preliminary data but final data "generally does not vary" much
- Oil revenues are financially crucial for Iraq's government, with the country mired in a financial crisis
Business
Iran to face off with US and England in football World Cup
Having fought to win the respect of Iran's football public, Dragan Skocic now has a World Cup showdown with England...
- England manager Gareth Southgate admitted he knew little about the Iranian team his side will face on the opening day of the World Cup
- FIFA has been urged to punish Iran for refusing to let women into a stadium for their last World Cup qualifier against Lebanon this week
Business
Binance, crypto firm, to hire more than 100 people in UAE
Binance, the world's biggest crypto exchange in trading volume, will hire more than 100 people in the UAE, days after...
- The firm's links with the Gulf state have deepened in recent months as the UAE tries to style itself as the world’s new digital assets hub and develops regulation
- The $2.1 trillion crypto sector is still subject to patchy regulation across the world. US sees high risks in crypto
India and Australia sign trade deal to cut tariffs
India and Australia signed an interim free trade deal on Saturday that cuts tariffs on billions of dollars of commerce...
- Both signatories are members of the Quad alliance with the United States and Japan, which is seen as a counterweight to an increasingly assertive China
- Two-way trade reached around $27.5 billion last year according to New Delhi, with resource-rich Australia exporting coal and other commodities, along with sheep meat
Business
Aldar buys Ras Al Khaimah’s Rixos Bab Al Bahr hotel in $210m deal
Aldar Investment acquired the 715-room hotel that opened its doors in 2014, marking the company's second investment in the emirate...
- Aldar Investment acquired the 715-room hotel that opened its doors in 2014, marking the company's second investment in the emirate this year
- Aldar Investment has also secured development rights for an additional 250,000 square feet for residential and commercial use, it said in a statement
Business
Dubai’s real estate market to ramp up going forward: Report
Over 84 percent of real estate professionals expect competition within Dubai’s real estate market to ramp up going forward, according...
- More than two-thirds (68 percent) of respondents in Dubai said they had experienced growth over the previous twelve months
- In November 2021, Dubai registered the best month of sales on record, with a total of 6,989 transactions worth AED17.95 billion
Geostrategy
Jordan, US discuss ways to enhance strategic partnership
Jordan’s Deputy Prime Minister Ayman Safadi and US Secretary of State Antony Blinken discussed the new MoU for the strategic...
- A new MoU between the two countries frames the US aid for Jordan, replacing the current memorandum, which expires in September 2022
- According to the current MoU, the US has provided Jordan with annual support over the past four years, which amounted to 1.65 billion in 2021
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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
UAE real estate sector transforms with cross-border payments revolution
Dubai, UAE - Leading financial institutions are spearheading a transformative wave in the UAE real estate sector through the introduction...
Company News
Ant Group to buyback shares
Business
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stc’s acquisition of Telefonica stake okayed
Spain's Securities Market Regulatory Authority cleared the deal.
Business
ZATCA, Korea Customs Service sign MoU to recognize AEO
Riyadh, Saudi Arabia -- Saudi Arabia's Zakat, Tax and Customs Authority (ZATCA) and Korea Customs Service have signed a memorandum...
Business
Musk says X could charge all users ‘small monthly payment’
The tech tycoon has made multiple changes since taking over the site for $44 billion in October last year, when...
Business
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Israeli PM Netanyahu urges Musk to fight anti-Semitism
During their conversation, Netanyahu said I hope you find within the confines of the First Amendment, the ability to stop...
- The conversation, which was broadcast on Musk's X platform, came as the Tesla tycoon is mired in row with the Anti-Defamation League
- The main topic of the conversation between the Israeli Prime Minister and Elon Musk was the potential fallout from artificial intelligence
Business
Elon Musk refutes reports of Tesla-Saudi Arabia talks
The WSJ's report, released on Monday, cited anonymous sources stating that while talks between Tesla and Saudi Arabia were in...
- In a post on platform X, Musk labeled the WSJ's article as "utterly false," although he refrained from providing further details on the matter
- Musk's statement in August last year about this expansion led to widespread speculation regarding the locations of the upcoming facilities
Business
Airports Council International sets up first office in Riyadh
Riyadh, Saudi Arabia-- The Airports Council International (ACI) for Asia-Pacific and the Middle East has established its first office in...
- The office was inaugurated by the kingdom's Minister of Transport and Chairman of the Board of Directors of the General Authority of Civil Aviation, Saleh Al-Jasser
- He said that the opening also aligns with the strategy aimed at strengthening air connectivity with countries worldwide, reaching 250 international destinations