Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...
Economy
Geostrategy
Jordan PM Al-Khasawneh meets the CEO of NEOM
Al-Khasawneh stressed the establishment of investments and joint projects in a way that contributes to addressing and responding to the...
- Al-Khasawneh stressed the establishment of investments and joint projects in a way that contributes to addressing and responding to the challenges of climate change
- The CEO of the Saudi "NEOM" company stressed pursuit of serious and real cooperation with Jordan to move forward with the implementation of economically feasible projects
Business
FAB’s 2021 profit hits AED12.5bn
This marks a 19 percent increase year-on-year.
- Asset quality metrics remained healthy, underpinned by prudent risk management and the relief measures under the UAE Central Bank TESS programme
- Zayed Al Nahyan, chairman of the FAB, added that FAB's Board of Directors recommends a dividend per share of 70 fils equivalent for the full year ended 31st December 2021
Business
Federation of Saudi Chambers calls for better Arab-Russia trade relations
Chairman of the Federation of Saudi Chambers (FSC) Ajlan Al-Ajlan has called for preparing a roadmap to enhance economic relations...
- Chairman of the Federation of Saudi Chambers Ajlan Al-Ajlan recommends establishment of joint companies and an e-platform to promote Russian and Arab products.
- Al-Ajlan also stressed the importance of overcoming financial and banking obstacles and stimulating Russian banks to open branches in Saudi Arabia.
Business
UAE resumes entry for travelers from 12 African countries
The countries comprise Kenya, Tanzania, Ethiopia, Nigeria, Republic of Congo, South Africa, Botswana, Eswatini, Lesotho, Mozambique, Namibia and Zimbabwe.
- The countries comprise Kenya, Tanzania, Ethiopia, Nigeria, Republic of Congo, South Africa, Botswana, Eswatini, Lesotho, Mozambique, Namibia and Zimbabwe
- In addition, the entry measures have been updated for travelers coming in from Uganda, Ghana and Rwanda from January 29
Business
Intel sales hit record on chip demand as shortage lingers
Intel on Wednesday said 2021 was a record year for sales at the chip maker as it navigated unprecedented demand...
- Intel revenue for last year tallied $79 billion, some $20.5 billion of which it took in during the final three months
- Profit for 2021 totaled $19.9 billion, about five percent less than the net income in the prior year
Business
Trade, investments bring Saudi Arabia, Iraq closer
Saudi Arabia and Iraq are looking to build a wide-ranging economic partnership as they sign electrical interconnection deal on the...
- The Saudi-Iraqi Joint Forum seeks to begin a new chapter in the history of comprehensive cooperation between the two countries at all levels
- The volume of trade exchange between the two countries during 2016-2021 stood at SAR 20 billion
Business
Marriott Autograph Collection in Sharjah
Two of Shurooq projects will operate under Autograph brand.
- Khorfakkan Hotel will be developed to cater to the needs of families and adventurers..
- The other five-star development, Kalba Hotel, will be spread across a land area of approximately 60,000 sqm.
Business
Crown Prince Salman-headed Group to develop Saudi gaming industry
Saudi Arabia has launched a group to develop its video gaming industry, state media reported Wednesday, as the kingdom seeks...
- Video gaming and esports have grown in popularity in the kingdom of some 35 million people, the majority of whom are under the age of 25.
- Saudi Arabia's games market reached $1 billion in 2021, the highest value among the Arab countries of the Gulf.
Geostrategy
UAE launches assessment of proliferation financing risks
The United Arab Emirates' Executive Office for AML/CFT and the Executive Office of the Committee for Goods and Materials Subject...
- The assessment was initiated in recent weeks and is expected to be completed by the end of 2022.
- The risk assessment will cover how financial resources may be used to develop nuclear, chemical, and biological weapons.
Business
Boeing reports $4bn loss
Boeing reported a hefty fourth-quarter loss Wednesday on mounting costs associated with the widebody 787, of which it has suspended...
- The US aviation giant accounted for a total of $3.8 billion in one-time expenses associated with compensating airlines for delayed deliveries
- Those costs were the biggest factor in the company's $4.1-billion quarterly loss
Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...
Economy
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Jamjoom Tadawul debut on Jun 20
Business
Bupa renews contract with SABIC
Business
UK’s Zencargo ventures into UAE, eyes MENA expansion
Abu Dhabi, UAE - The UAE Ministry of Economy has announced that Zencargo, a UK-based company with expertise in digital...
Business
Qatar real estate trading crosses $143m in August 27-31 2023
DOHA, QATAR - The volume of real estate trading in non-residential sales contracts at the Department of Real Estate Registration...
Business
$8.7 billion lawsuit in UK accuses Google of stifling competition
It accuses Google of breaching competition law by shutting out mobile search competition and using its market dominance to increase...
Business
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Geostrategy
Saudi crown prince says ready for economic partnership with BRICS
DUBAI, UAE – Saudi Arabian Crown Prince Mohammed bin Salman in a telephonic conversation with Russian President Vladimir Putin has...
- The Russian president and the Saudi crown prince discussed the outlook for BRICS expansion.
- The two leaders reviewed cooperation between the two countries within the OPEC+ agreement framework.
Business
Masdar, Africa50 sign MoU
The aim is to speed up clean energy transition in Africa.
- Masdar brings its technical expertise and extensive experience in emerging markets and will work with Africa50 to bridge the infrastructure funding gap.
- Africa50 brings its skill in developing projects in the continent and which, combined with Masdar, can help unlock clean energy potential.
Business
TAQA’s $1.5bn dual-tranche bonds listed on Abu Dhabi Exchange
Abu Dhabi, UAE -- Abu Dhabi National Energy Company (TAQA's) dual-tranche $1.5 billion bonds were listed on Abu Dhabi Securities...
- The five-year $500 million notes, maturing in 2029, were issued as conventional bonds with a 4.3 percent coupon.
- The 10-year $1 billion tranche, maturing in 2033, was priced with a 4.6 percent coupon – with coupon payments being made to bondholders on a semi-annual basis.