Stable credit conditions make GCC firms resilient
Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a...
Business
Interview
Consumer ‘experience’ reshapes retail in the Gulf
Companies are increasingly focusing on health and wellness in products and services, says Mohammad A Baker, Deputy Chairman and CEO...
- People, communities, and governments are working to attain personal sustainability goals driving the retail sector
- GCC governments have established several measures targeted at raising awareness of healthy lifestyles
Business
Jordan exporters eye ‘promising’ Canada market
Jordan Exporters Association Khudari said the FTA between the two countries, which came into effect in 2012, provides "various and...
- Khudari stressed on the JEA's keenness to develop the businesswomen's capabilities and engage them in international trade
- Khudari lauded the TFOC's role in implementing programs in cooperation with the JEA to help Jordanian companies and businesswomen
Business
Iraq to increase oil production, says minister
The oil production in Majnoon Oil field will be increased to 450,000 barrels per day, said the Oil Minister of...
- He inaugurated the two buildings of Majnoon Oil Field Production and Development Authority
- Majnoon field contributes to provide good quantities of gas fuel for the uses of operating electricity power plants
Business
A big haul of captagon shipments seized in Lebanon, Syria
Security forces in Lebanon and Syria said Saturday that they had seized two separate shipments of the banned stimulant captagon,...
- The pills were confiscated following raids this week on a storage facility in Bir Hassan, a neighborhood near Beirut's southern suburbs
- It said it arrested two men behind the operation, including one who was trying to flee the country through Beirut's airport
Business
Stolen Maradona watch found in India
Indian police have recovered a stolen watch customized for star footballer Diego Maradona and arrested a suspect behind the alleged...
- Police said they detained Wazid Hussain in the northeastern state of Assam and recovered a Swiss-made Hublot watch
- The 37-year-old had been working as a security guard since 2016 at a Dubai-based firm where memorabilia relating to the Argentinian footballer were stored
Business
KNPC warns people not to fall for ‘dubious’ online ads
Kuwait National Petroleum Company (KNPC) has denied offering shares for trading, warning social media users not to believe in some...
- The company's Deputy CEO for Administrative and Commercial Affairs and Official Spokesman Ahed Al-Khrayef said unknown entities have recently posted ads
- "These ads are totally divorced from reality, and the company has nothing to do whatsoever with these ads," he affirmed
Business
Exports of ACI soar 16% in first 11 months of 2021
Exports of Amman Chamber of Industry (ACI) have soared 16% during the past 11 months of 2021, compared to the...
- Most industrial sectors recorded an increase in exports of their products during the January- November period of 2021
- The United States of America, India, Saudi Arabia and Iraq accounted for the majority of ACI's exports during the past 11 months of 2021
Business
African migrants fuel recycling in Turkey capital Istanbul
Afghans have joined Kurds, the Laz, Roma and other ethnic minorities and undocumented migrants in doing work others snub. For...
- Diving headfirst into dumpsters, these migrants dig up plastic bottles, glass, and other waste they then sort and sell in bulk
- This is a self-organized, unregulated business that keeps the city clean, and these impoverished people fed
Business
Saudi prince ends GCC tour with Kuwait
Saudi Arabia and Kuwait pledged to enhance bilateral cooperation and coordination in security, military, and economy.
- The two countries agreed to boost all means of cooperation on international climate policies
- They are expected to do this by implementing the Green Middle East Initiative launched by the Saudi crown prince
Business
UAE and Uzbekistan to ‘prepare government leaders’
The UAE and Uzbekistan have joined hands to launch a four-month ''Uzbek Government Leadership Program'' to prepare a generation of...
- The new program seeks to enable the participants to identify the best skills in specialized fields, through virtual workshops and dialogue sessions
- It will further organize knowledge visits to a number of government departments
Stable credit conditions make GCC firms resilient
Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a...
Business
Company News
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China developer Evergrande plunges as Hong Kong trading resumes
The resumption of trading came after the company said in a filing on Friday that it had met guidelines set...
China EV giant XPeng to buy rival for over $740m
Founded in the southern province of Guangdong in 2015, XPeng is one of dozens of Chinese startups to emerge in...
Barclay family seeks Telegraph control with UAE investor support: report
Dubai, UAE - The Barclay family is reportedly making a bid to regain control of the Telegraph newspaper group. Months...
Business
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Business
Evergrande posts H1 loss
Firm said it has $556 million remaining in cash assets.
- The developer's January-June losses amounted to 33 billion yuan ($4.53 billion), compared to 66.4 billion yuan lost in the same period last year.
- Its statement on Sunday estimated its liabilities now stood at almost $328 billion, down from nearly $340 billion at the end of 2022.
Business
Iran hopes joining BRICS likely to enhance trade and business
Tehran, Iran - Iran’s membership in the BRICS group will lead to the promotion of exports and trade activities, an...
- Logical policymaking and decisions will lead to positive achievements for the country after joining BRICS, the Iranian official Arsalan Ghasemi said.
- BRICS is a club of emerging economies that constitute a large population in the world and this opportunity should be used optimally, he added.
Geostrategy
Iran says European countries willing to buy our drones
TEHRAN, IRAN - A number of European countries have asked to purchase Iran’s unmanned aerial vehicles, the spokesperson for the...
- A spokesperson for the Iranian Defense Ministry said Tehran is prepared to export military drones after fulfilling its domestic needs,
- Political and security considerations will be taken into consideration before finalizing such deals, the spokesperson added.