IOTA Foundation launches US$10m investment fund at Investopia 2024
ABU DHABI, UAE – Minister of Economy and Chairman of Investopia Abdullah bin Touq Al Marri attended the unveiling of...
Business
Business
Muscat raises foreign ownership in joint stock companies to 100%
The decision to raise the percentage of foreign investment in public companies is one of the most important steps to...
- The decision to raise the percentage of foreign investment in public companies is one of the most important steps to include the market in global emerging market indices
- Oman plans to list 35 state-owned companies in the next five years, with a focus on listing one or two firms from the oil sector during the current year
Business
Jordan’s trade deficit with EU expands 12.9% to $3.77bn
Jordan’s trade balance deficit with the European Union countries expanded by 12.9% in 2021 compared to 2020.
- Total trade deficit reached about JD2.671 billion ($3.77 billion) in 2021
- The value of national exports to EU countries increased by 29.9 per cent during 2021
Geostrategy
Bahrain and the Netherlands discuss ways to boost ties
Bahrain and the Netherlands discussed ways to strengthen cooperation and boost the youth sector in both countries through exchange of...
- Both sides lauded the distinguished relations between Bahrain and the Netherlands in all fields
- They also highlighted the major initiatives and programs launched to support the youth sector
Business
UK PM may visit Saudi Arabia to lobby for uptick in oil output
Britain on Sunday defended lobbying Saudi Arabia to up its oil output as energy sanctions on Russia hit Western consumers,...
- Senior cabinet minister Michael Gove did not deny a report in The Times on Saturday that Prime Minister Boris Johnson is set to visit Riyadh this week
- The newspaper said Johnson will lobby Saudi Crown Prince Mohammed bin Salman to help offset the impact of the Ukraine-linked sanctions
Business
Tibbiyah posts 14% drop in profit
Arabian International Healthcare Holding Co., also known as Tibbiyah, has posted a fourteen percent drop in net profit to $21...
- Despite the fall in profitability, the company's board proposed the distribution of SR3 per share in dividends for 2021
- The company said the drop in profit was caused by a decline in sales
Business
SAMI of Saudi Arabia to hire more women to support diversity
Saudi Arabian Military Industries (SAMI) will hire more staff and most of them will be women in order to support...
- Unit last year, SAMI had about 2,500 employees, with 82 percent Saudization and females representing 22 percent of the workforce
- At the end of 2021, SAMI was among the top 85 defense companies in the world
Business
Saudi women drive for extra cash as costs climb
Sweeping social reforms, including lifting the infamous ban on women driving, have transformed life for many Saudis, but rising costs...
- According to the official data, women made up more than a third of the workforce in 2021
- Over 200,000 women in Saudi Arabia have been issued driving licenses since 2018
Business
Egypt nixes reports that Suez Canal traffic is falling
The key trading link is setting new records, said the government, quoting the Suez Canal Authority.
- About 10 percent of global trade, including 7 percent of the world’s oil, flows through the Suez Canal
- First opened in 1869, the canal is a source of national pride and foreign currency to Egypt
Business
QFD unveils Morocco housing
The residential complex is located in Bir Al-Souk in Morocco.
- The residential complex is expected to have 12 buildings consisting of three floors and a basement
- Each floor contains four apartments, with each apartment having an area of 72 square meters
Business
Saudi Arabia to grant licenses to renewable energy facilities
Saudi Arabia will grant industrial licenses to facilities operating in the renewable energy sector and power plants in order to...
- The Ministry of Industry and Mineral Resources and the Ministry of Energy have partnered with the Non-Oil Revenues Development Center to grant the licenses
- The Ministry of Industry and Mineral Resources also provides many incentives and benefits to investors in the sector
Company News
Arada H1 sales $1.15bn
Business
QNB H1 2023 net profit at $2bn
Business
Latest News
Ford halts work on US$3.5 billion battery plant
The auto giant announced in February the project in Marshall, Michigan as a way to diversify its battery profile away...
Business
Iran’s exports of agriculture products climb up 10% to US$1.62bn
Tehran, Iran-- Iran's exports of agricultural products to the outside world shot up 10% in the first 5 months of...
Business
Growing IT outlays intensify MENA’s transformation
The region's IT spending is set to rise by 4% to $183.8 billion in 2024, with software and IT services...
Business
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Business
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...
- The MoU between ADX and Expo Centre Sharjah aims to enhance services provided to the investor community in Sharjah
- ADX and Sharjah Expo will be able to provide their respective customers with a more comprehensive range of services and offerings
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....
- The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of the Kingdom of Bahrain.
- The issue date of these bills is September 27 2023 and the maturity date is December 27 2023.
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...
- The programs cater to professionals from financial institutions, regulatory bodies, supervisory authorities and legal experts.
- This partnership between IsDBI, BIBF focuses on elevating the industry, forging international connections, and nurturing talent on a global scale.