Saudi Arabia plans to sustain borrowing spree to fund major projects beyond oil: report
Saudi Arabia secured a $2.5 billion revolving credit facility from Abu Dhabi Islamic Bank, Credit Agricole SA, and Dubai Islamic...
Economy
GCC equity markets ended 2024 in positive territory
Five of seven GCC equity market indices under coverage ended 2024 on the rise, according to an in-depth report on GCC equity...
Business
Qatar reaches long-term gas supply deal with Germany
QatarEnergy's partner, US firm ConocoPhillips, will supply the gas from Qatar's North Field East and South projects from 2026 to...
- QatarEnergy's partner, US firm ConocoPhillips, will supply the gas from Qatar's North Field East and South projects from 2026 to the Brunsbuttel LNG terminal
- Negotiations with European countries had previously struggled as Germany and others balked at signing the type of long-term deals made with Asian nations
Science
All regions experienced water extremes in 2021, says UN
GENEVA, SWITZERLAND - All regions of the world saw water extremes last year - both floods and droughts - and...
- Large areas of the planet recorded drier than normal conditions in 2021, the UN's World Meteorological Organization said.
- Some 3.6 billion people face inadequate access to freshwater at least one month per year.
Economy
EU spent €15.2bn on imports of green energy products last year
The trading bloc also exported green energy products worth €6.5 billion to countries outside the EU.
- The trading bloc also exported green energy products worth €6.5 billion to countries outside the EU
- The EU imported €11.2 billion worth of solar panels and €3.4 billion worth of liquid biofuels from countries outside the bloc
Economy
GCC banks earned $18.6bn in interest income in Q3: Kamco
During Q3-2022, non-interest income declined to a four-quarter low of $7.4 billion as compared to $7.8 billion during Q2-2022.
- During Q3-2022, non-interest income declined to a four-quarter low of $7.4 billion as compared to $7.8 billion during Q2-2022
- The aggregate GCC gross banking loans reached a new record of $1.93 trillion, increasing by 1.2 percent or $23.5 billion during the quarter
Economy
Kuwait Central Bank Issues Bonds, Tawarruq worth $792 million
The new securities bear a maturity term of six months and a return rate of 4.25 percent.
- The new securities bear a maturity term of six months and a return rate of 4.25 percent.
- Earlier on November 2, the Central Bank of Kuwait held its policy rate at 3 percent
Business
Saudi Airport to build a new airport in capital Riyadh
Saudi Arabia announced plans for a new airport in Riyadh while advancing the kingdom's ambitious aviation goals. The airport, set...
- The airport is set to accommodate 120 million travelers by 2030 and 185 million travelers by 2050.
- The new airport is expected to be able to process 3.5 million tons of cargo by 2050, local media said.
Science
UAE’s health and prevention ministry launches National Nutrition Strategy 2022-2030
DUBAI, UAE - UAE's Ministry of Health and Prevention (MoHAP) has launched the National Nutrition Strategy 2022-2030 to establish sustainable...
- National Nutrition Strategy comes as part of MoHAP’s ongoing efforts to support the UAE’s visions aimed at improving the health of younger generations.
- The strategy was launched during an event hosted by the ministry at the Etihad Museum.
Business
Kazakhstan eyes energy takeovers after blackouts, ‘mismanagement’
ALMATY, KAZAKHSTAN - Kazakhstan warned Monday it could nationalize struggling energy companies in the oil-rich Central Asian country after the...
- Kazakhstan is a net exporter of energy, but high gas prices this year fueled historic and bloody protests.
- Last month, Kazakh authorities said 65 percent of regional electricity networks needed repair.
Business
ADIB enables digital solutions to support UAE IPOs’ push
ABU DHABI, UAE - Abu Dhabi Islamic Bank (ADIB) announced that its retail customers were able to conveniently participate in...
- ADIB said that 80 percent of clients subscribed to IPOs that were issued in 2022 through ADIB Mobile app.
- ADIB is providing a quick and easy end-to-end process for IPOs subscriptions through mobile app.
Business
Abu Dhabi Airports announces 4.7m passenger traffic in Q3 2022
ABU DHABI, UAE - Abu Dhabi Airports Monday said that in Q3 2022 passenger traffic totaled 4.7 million passengers, a...
- Abu Dhabi International Airport handled 144,083 tonnes of air freight in Q3 2022.
- Third-quarter statistics confirm that 49,046 Air Traffic Movements (ATMs) were recorded across the five airports.
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
Saudi Arabia plans to sustain borrowing spree to fund major projects beyond oil: report
Saudi Arabia secured a $2.5 billion revolving credit facility from Abu Dhabi Islamic Bank, Credit Agricole SA, and Dubai Islamic...
Economy
Company News
Latest News
Emiratization: CBUAE to provide financial sector job opportunities
Abu Dhabi, UAE - The CBUAE will provide UAE nationals with job opportunities across various banking and insurance specializations in...
Economy
Dubai Land Department calls for engaging accredited valuation offices
DUBAI, UAE – The Dubai Land Department (DLD) is committed to providing property owners with easily accessible resources to reinforce...
Business
Turkey halts joint-energy projects with Israel over Gaza war
Dubai, UAE-- Turkey has suspended joint-energy projects with Israel over the latter's invasion and bombardment of the Gaza Strip, according...
Geostrategy
Most Read
Economy
Saudi Arabia boosts ‘investment relations’ with African countries
Riyadh, Saudi Arabia-- Saudi Arabia's Ministry of Investment has held a number of roundtable meetings with several African countries on...
- Saudi Arabia signed a memorandum of understanding with Mauritania to encourage investment flows between the two countries
- The kingdom also took steps to enhance economic ties with Chad and Somalia, enabling the private sector to benefit from opportunities
Economy
UAE exhorts UNESCO members to join COP28 ‘climate efforts’
Paris, France-- The UAE has made a fervent appeal to members of the United Nations Educational, Scientific and Cultural Organization...
- The minister made the remarks at the 42nd session of the General Conference of UNESCO General Policy Debate, held in the UNESCO headquarters in Paris
- He underscored the UAE's efforts in the field of environmental sustainability and its keenness to enable learners and equip them for the “digital age we live in”
Business
Saudi delegation takes part in Riyadh Expo 2030 symposium in Paris
PARIS, FRANCE - A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the...
- The symposium serves as the final stop in the Kingdom's journey of its candidacy bid to host the World Expo in 2030.
- The final voting process for the host country will take place during a secret ballot on November 28, 2023, at the 173rd General Assembly of the BIE,