Al Mal Capital REIT to launch rights issue
The fund has an existing portfolio valued at US$158m.
Business
Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...
Business
Business
DXB to welcome 1.8m passengers in next 11 days
According to the operator, as many as 1.8 million passengers are expected to pass through DXB between November 25 to...
- According to the operator, as many as 1.8 million passengers are expected to pass through DXB between November 25 to December 5
- December 4 is expected to be the busiest day during this period with passenger numbers likely to surpass the 190,000 mark
Business
GMIS2021 concludes in UAE with launch of GMIS America
The inaugural edition of the GMIS America will take place in 2022 in Pittsburgh as a homage to a city...
- The inaugural edition of the GMIS America will take place in 2022 in Pittsburgh as a homage to a city that has rebounded from significant industrial challenges
- The summit explored the role of data and connectivity in shaping the future of supply chains, green manufacturing, sustainable energy, and climate action
Interview
Fintech fuels MENA startup scene
It is vital for the economic development of the Middle East by fostering innovation, entrepreneurship and creating large-scale employment opportunities...
- According to a recent Forbes report, there are at least 2,800 FinTech startups in the Middle East and Africa
- In Saudi Arabia, startup funding topped US$168 million in the first half of 2021, 65% more than it did in H1 2020
Business
India announces bill to ban cryptocurrencies
India's government will introduce a bill to ban private cryptocurrencies and create a framework for a central bank-backed digital money,...
- The proposed bill "seeks to prohibit all private cryptocurrencies in India"
- It is the latest such move by a major emerging economy, after China declared all cryptocurrency transactions illegal in September
Economy
Omani finance ministry issues government treasury bills worth $194 million
Oman's finance ministry has issued government treasury bills worth Omani Riyal 75 million ($194 million). Treasury Bills are short-term highly...
- Treasury bills are short-term highly secured financial instruments that provide licensed commercial banks the opportunity to invest their surplus funds.
- The bills have a maturity period of 91 days, from 24 November 2021 until 23 February 2022.
Business
Trade between Dubai and Israel grows to $700m
Trade between Dubai and Israel has grown to $700 million since September 2020 when the Abraham Accords were signed.
- Dubai Government announced on 30th January that the emirate’s trade with Israel in five months, between September 2020-January 2021, had reached $272.26 million
- In June 2021, Israel’s Foreign Minister Yair Lapid told WAM that bilateral trade between his country and the UAE had reached over $675.22 million
Business
Ooredoo and Qatar Financial Centre to extend collaboration
Ooredoo and Qatar Financial Centre have signed a partnership agreement to leverage joint experience, expertise, and capabilities to further extend...
- The partnership incorporates a number of initiatives planned for the coming years, with a clear focus on areas of joint interest
- Sectors in which these initiatives will be rolled out include digital innovation, smart cities, fintech, cybersecurity API, cloud solutions
Business
QFZA and Aspiration to bring sustainability services to MENA
Qatar Free Zones Authority (QFZA) and Doha Venture Capital (DVC) have signed an agreement with Aspiration to expand access to...
- The partnership is in line with QFZA's efforts to develop the world’s first net zero free zones
- The agreement is part of a broader collaboration between Aspiration and Qatar Free Zones
Business
GSCCO enhances Jubail port
The company is part of the UAE-based Gulftrainer group.
- GSCCO has carried out enhancements to the Jubail Commercial Port in Saudi Arabia to increase its capacity
- With the upgrades, the port now has the capacity to process 1.8 million 20-foot containers or TEUs per year
Economy
Qatar, Poland to enhance cooperation: Polish Deputy Foreign Minister
Deputy Foreign Minister Pawel Jablonski of Poland said on Monday that Poland and Qatar can increase their cooperation in many...
- Jablonski said that his current visit to Doha aims to discuss new opportunities to support and advance economic, investment and tourism cooperation
- He also discussed with Qatari officials ways to enhance cooperation with the Qatar-Poland Business Council, the Qatar Financial Center, the Qatar Free Zones Authority
Most Read
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
Al Mal Capital REIT to launch rights issue
The fund has an existing portfolio valued at US$158m.
Business
Company News
Latest News
Emaar reports 15% profit growth in H1 2023
The company achieved property sales of $5.5bn in the period.
Business
Turkey, Saudi Arabia exports vault 630% after normalization in ties
Istanbul, Turkey - Turkey's exports to Saudi Arabia have skyrocketed by an astonishing 630 percent in the first seven months...
Geostrategy
Saudi real estate gets non-oil boost
The Saudi commercial real estate market is set for a significant upswing in 2023, propelled by the government's vision to...
Business
Most Read
Business
QAMCO’s H1 net declines 60.7%
Average selling prices stood at US$2,743 per metric ton.
- Earnings Per Share for QAMCO stands at US$0.0118 as of 30th June 2023, compared to US$0.0302 in 2022.
- Decline in profits is attributed to a 24% drop in average selling prices and a slight decrease in sales volumes
Disney streaming service sees subscribers fall again
Disney+ finished the quarter with 146.1 million subscribers, compared with just shy of 158 million in the first three months...
- Disney shares were up more than 2 percent to $90 in after market trades despite the drop in streaming service subscriber numbers
- The unusual quarterly loss for the company was due to charges related to ending licensing agreements and yanking content from its streaming platforms
Business
PIF-owned Saudi tourism company to sponsor Al-Hilal Club
Riyadh, Saudi Arabia -- The Saudi Tourism Investment Company (ASFAR), a Public Investment Fund (PIF) portfolio company, has announced a...
- Under the terms of the agreement, ASFAR will serve as the official sponsor of the Al-Hilal Saudi Club until the end of the 2025-2026 season
- Founded in 1957, Al-Hilal Saudi Club is the most decorated football club in Saudi Arabia and the most successful Asian club