Nike’s long international struggle with Adidas
German newspapers reported that the American sports equipment giant overcame their rival's home advantage with a bid of around 100...
Reforms help Saudi banking sector post robust growth
The financial sector plays vital role in the Kingdom's economy, with a 9.5% surge in operating income and 10.9% increase...
Business
Business
Obeikan Glass net profit up 900 percent
The Saudi manufacturer’s revenue rose 77 percent year-on-year.
- The firm, which recently joined the Saudi stock exchange, attributed the improved performance to an increase in sales volumes.
- Obeikan Glass Company says it is the largest glass manufacturing facility of its kind in the Middle East region.
Economy
Jordan’s real estate trading at JD73 5mn in 2022
The Department of Land and Survey (DLS) revealed that the revenue in the first two months of 2022 stood at...
- The Department of Land and Survey (DLS) revealed that the revenue in the first two months of 2022 stood at JD32.4 million up 15% from the figure reported in 2021
- Overall real estate sales in the Kingdom in the period decreased by 10 percent, as apartment sales declined by 5 percent
Economy
Aluminium, copper prices hit records on Ukraine fallout
Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne.
- Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne
- Commodities have been red hot since Russia's assault on its neighbour, with gold on Monday back above $2,000 an ounce
Business
Australian power firm rejects green billionaire’s takeover bid
AGL Australia's largest energy company said its board had over the weekend rejected a joint bid of $8.25 (US$6) per...
- AGL Australia's largest energy company said its board had over the weekend rejected a joint bid of $8.25 (US$6) per share from Cannon-Brookes, founder of the tech firm Atlassian
- The firm said in a statement to the Australian stock exchange that the buyout proposal was still "well below the fair value of the company."
Geostrategy
UAE, Israel work to secure region’s food needs
Government support, coupled with strong social systems, must ensure that no one goes hungry, says Nobel Laureate Dr Dan Shechtman
- Enhancing collaboration between research institutes and agritech companies in Israel and the UAE will be pivotal to secure region's food future, say Israeli experts
- Arab region needs to develop the knowledge to grow crops in arid conditions, says Dan Shechtman of Israel Institute of Technology
Business
Saudi Arabia teams up with China to produce UAVs in kingdom
Saudi Arabia has teamed up with China to manufacture unmanned aerial vehicle payload systems in the kingdom.
- The agreement was signed between Saudi Advanced Communications and Electronics Systems Co., ACES and China Electronics Technology Group
- This came after the Riyadh-based telecommunication firm established a new company for unmanned aircraft in the Kingdom, under the name of Aerial Solutions
Business
Yanbu Cement reports dip in profit
Yanbu Cement Co., one of Saudi Arabia's largest cement producers, has posted a forty three percent dip in net profit...
- The Jeddah-based company, apart from seeing a drop in the net profit, saw its annual revenue fall slightly from SR940 million to SR934 million year-on-year
- The company attributed the dip in earnings to lower selling prices that weighed on the company's revenue.
Business
Saudi Arabia hikes oil price as Russia-Ukraine war presses on
Saudi Arabia has hiked oil prices for all regions after the crude oil prices soared to more than $115 a...
- Saudi Arabia's state oil producer Aramco raised the official selling price
- Aramco hiked all prices for the American customers by $1
Business
Turkey tourism industry bemoans Russia-Ukraine war
Every Sunday Noori Sani welcomes his old friends around a bountiful Turkish breakfast in Istanbul. But surrounding him now are...
- Within a few days of Russia's invasion of Ukraine on February 24, Ukrainians and Russians cancelled reservations for trips of Turkey
- Visitors from Ukraine and Russia made up over a quarter of all tourists who arrived in Turkey last year, tourism ministry reported
Geostrategy
Saudi Arabia and Egypt to cooperate in telecommunications
Saudi Arabia and Egypt have signed an agreement to strengthen cooperation between the two countries in the fields of telecommunications,...
- The memorandum serves to work on cooperation and exchange of experiences in the field of smart cities also
- It also includes agreements to coordinate joint events, and to design training programs and workshops
Nike’s long international struggle with Adidas
German newspapers reported that the American sports equipment giant overcame their rival's home advantage with a bid of around 100...
Company News
Latest News
UAE, Armenia ink 4 MoUs at joint business forum
YEREVAN, ARMENIA - Chairman of the Federation of UAE Chambers of Commerce and Industry (FCCI) Abdullah Mohamed Al Mazrouei and...
Business
EDGE partners with Bulgarian firms
It expects to fulfill growth plan through the partnerships.
Business
Saudi Arabia seeks Chinese investment in mining, industry
Beijing, China - Saudi Arabia is seeking Chinese investment in mining and industrial sectors. The Saudi Minister of Industry and...
Business
Most Read
Business
UAE-Saudi non-oil trade reaches US$159bn in 2018-22
ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by...
- The volume of trade between the UAE and the Kingdom of Saudi Arabia grew by 28 percent in 2022.
- The year 2021 saw growth, reaching $33.9 billion (AED 124.65 billion), compared to $28 billion (AED 103.91 billion) in 2020.
Geostrategy
US and China seek improved ties via new working groups
Chinese state broadcaster CCTV also announced the launch of an "Economic Working Group" and "Financial Working Group," saying both will...
- The formation of the groups was agreed during talks in July between US Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng in Beijing.
- The Economic Working Group will discuss macroeconomic issues, while the Financial Working Group will focus on regulatory and financial stability issues.
Business
Microsoft to acquire Activision Blizzard
Activision Blizzard makes popular games like "Call of Duty".
- The transaction faced scrutiny from regulators in the United States as well as Britain, where the CMA blocked a similar deal in April.
- Activision Blizzard CEO Bobby Kotick said the UK regulator's announcement was "a significant milestone for the merger".