Asian markets track Wall Street losses on worries over tech rally
Hong Kong, China- Asian markets mostly fell on Wednesday after a tech-led sell-off on Wall Street fueled by worries about the...
Economy
Sub-Saharan Africa: Nigeria takes #2 spot in global crypto adoption
Sub-Saharan Africa accounts for the global cryptocurrency economy’s smallest share, representing 2.7% of transaction volume worldwide between July 2023 and...
Economy
Economy
Growing ‘Davos in the Desert’ a sign of Saudi clout
The Future Investment Initiative (FII) was launched in 2017 as an economic coming-out party for the world's largest crude exporter,...
- This year's FII, often referred to as "Davos in the Desert", comes after a months-long process of re-engagement with the West by Prince Mohammed
- This year, however, US officials were not invited, something Attias said reflected a broader push to keep the focus on business leaders rather than politicians
Economy
Visits, talks boost GCC-Asia trade ties
Traditionally, GCC trade was focused on the West. However, now it is moving to the East. This eastward shift is...
- China sees the Gulf countries as natural partners in implementing its Belt and Road initiative
- Relying on Asia is a positive strategy that exposes GCC economies to strong countries like China, India, and others
Business
‘Exhibitions important platform to market Jordanian products’
At least 11 Jordanian food processing companies took part in the SIAL Paris 2022 trade show, the Jordan Exporters Association...
- Representatives of the Jordanian companies described their participation in SIAL Paris 2022 as successful and important.
- The event helped in promoting the Kingdom's products and opening new markets for Jordanian goods.
Science
Shamma bint Sultan calls for collaboration on climate change
Executive Director of the UAE Independent Climate Change Accelerators (UICCA) Sheikha Shamma bint Sultan bin Khalifa Al Nahyan highlighted the...
- Sheikha Shamma made the comments at the keynote address at the inaugural London Climate Technology Show.
- She called for greater innovation and collaboration between nations to identify and execute solutions that would drive positive impact.
Business
ADX records 16.9% surge in FADX 15 during first three quarters of 2022
The traded values (short and long trades) on the exchange reached $177 billion compared with $134 billion during the same...
- The traded values reached $177 billion compared with $134 billion during the same period last year
- The growth was driven by a rising number of institutional and individual investors on the exchange
Geostrategy
Saudi energy minister holds talks with counterparts in India
Prince Abdulaziz is also the Chairman of the Ministerial Committee for Economy and Investment in the Saudi-Indian Strategic Partnership Council.
- Prince Abdulaziz is also the Chairman of the Ministerial Committee for Economy and Investment in the Saudi-Indian Strategic Partnership Council
- Saudi minister said the visit will further enhance the strategic partnership between the two countries and enable them to explore further opportunities for cooperation
Geostrategy
Spain says new gas pipeline may take 7 years to build
A planned underwater energy pipeline linking Barcelona in Spain and Marseille in France could take up to seven years to...
- France, Spain and Portugal announced that they had agreed to build the maritime pipeline.
- The underwater pipeline - dubbed BarMar - would initially be used for natural gas but, over time, more and more for hydrogen.
Business
Reliance Q2 net profit at $1.65bn
RIL's core oil-refining business hit overall profits.
- Revenues from operations increased 33.7 percent on-year to US$28.19 billion helped by strong contributions from Reliance's newer consumer-facing businesses.
- Additional excise duties cost Reliance US$488 million (40.4 billion rupees) in the quarter, the company said,
Business
Credit Suisse sells 8.6% stake in Allfunds
Bank raised US$325m from its stake sale of Spanish firm.
- Credit Suisse acquired the minority stake in 2020 after selling its business-to-business investment fund platform, InvestLab, to Allfunds.
- The bank was rocked last year by the collapse of the British financial firm Greensill.
Business
Dlala Holding to resume trading
The authorized capital of the company is US$78 million.
- The QSE announced after completing the process of reducing the company's issued capital from 284.16 million shares to 190.387 million shares.
- Dlala Holding Company was established and listed on Qatar Stock Exchange in 2005.
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Asian markets track Wall Street losses on worries over tech rally
Hong Kong, China- Asian markets mostly fell on Wednesday after a tech-led sell-off on Wall Street fueled by worries about the...
Economy
Company News
Latest News
Mawani, SGP ink US$266m pact
The aim is to establish multiple logistics zones in the Kingdom.
Business
World Investment Forum 2023 ends with call for greater private and public investment
Abu Dhabi, UAE – UNCTAD's 8th World Investment Forum came to a close on Friday in Abu Dhabi with a...
Economy
Kazakhstan aims to expand trade ties with UAE to the tune of US$1bn
Abu Dhabi, UAE--Kazakhstan is keen to expand trade ties with the UAE, setting a target of $1 billion in mutual...
Economy
Most Read
Economy
Key events reinforce UAE’s position as business hub
"Hosting global events serve as crucial platforms, uniting experts and specialists from diverse sectors. They offer opportunities for communication, opinion...
- UAE emerges as global economic nexus, hosting premier events and conferences
- UAE's GDP in 2022 shows significant growth, with FDI reaching a record high
Egypt ‘clearing path for Gaza aid’: security source, witnesses
The UN has described the situation inside Gaza as "beyond catastrophic" as Israel pounds the enclave from the air in...
- Israel has refused to open its borders with Gaza but US President Joe Biden brokered a deal to allow aid in via the Rafah crossing with Egypt
- The deal came with strict conditions from Israel, aid must only go to civilians and not fall into the hands of Hamas fighters
Moody’s puts Israel’s credit ratings on review for downgrade
Moody's announced that it was putting a number of the Israeli government's credit ratings on review for a downgrade, including...
- Moody's statement comes after Fitch Ratings announced on Tuesday that it was placing Israel's A+ foreign-and local-currency issuer default ratings on "Ratings Watch Negative"
- Fitch cited "the heightened risk of a widening of Israel's current conflict to include large scale military confrontations with multiple actors, over a sustained period of time"