Most Asian markets rise ahead of toss-up US election
Asian markets mostly rose Tuesday a day before results from the US presidential election rolled in, with opinion polls showing...
Economy
Oil prices tumble after Israeli attacks spare Iran facilities
Tokyo, Japan - Oil prices tumbled in early Asian trading Monday with dealers relieved that Israeli strikes carried out Saturday against...
Economy
Business
BP to buy Archaea for US$4.1bn
BP bought US firm to reach net zero emissions by 2050.
- BP, the London-listed energy major, is flush with cash after recent surges in oil prices.
- There have been calls for the cash-strapped UK government to massively enlarge a windfall tax on British energy giants.
Geostrategy
Will immediately respond to new EU sanctions, says Iran
Iran vowed an "immediate" response to the European Union as it prepares new sanctions on the Islamic republic after over...
- Iran will "decide and act immediately in accordance with the decisions and actions" taken by EU member countries.
- Iran has been rocked by demonstrations since the death of 22-year-old Amini and a crackdown on protesters.
Economy
Saudi to target 11 decisions for Emiratisation program by 2022 end
Riyadh, Saudi Arabia---Saudi Arabia will target 11 new decisions for Emiratisation program in project management, procurement, food and drug sectors...
- New Emiratisation decisions will be targeted in project management, procurement, food and drug sectors.
- Emiratisation has cut unemployment rate of Saudis to 9.7 percent and increased the rate of economic participation of women by 35.6 percent.
Economy
Sterling rises with UK finance minister set to unveil spending plans
Jeremy Hunt was put in place on Friday after Prime Minister Liz Truss sacked Kwasi Kwarteng as she battles to...
- The pound held above $1.12, having sunk Friday owing to the uncertainty in Westminster, while a news conference by Truss did very little to reassure nervous investors
- Bonds also rallied on the first day without the Bank of England support put in place in response to turmoil caused by Kwarteng's mini-budget
Economy
Credit Suisse to pay US$495m to settle legacy case
It has agreed to pay $495 million as part of a deal reached with US prosecutors in a long-running dispute...
- In the claim filed in 2013, Credit Suisse was criticized for not having provided sufficient information on the risks relating to $10 billion of mortgage-backed securities
- Last year, Credit Suisse paid $600 million to financial guarantee insurer MIBA to settle other long-running litigation connected to the US subprime mortgage crisis
Economy
Biden faces tough options with Saudis after OPEC+ oil price hike
US National Security Advisor Jake Sullivan told CNN on Sunday that Biden would "act methodically, strategically" in re-evaluating US-Saudi relations,...
- Saudi Arabia has insisted the OPEC+ decision was purely economic and said US weapons sales serve both countries' interests
- The Biden administration has voiced openness to retaliatory measures in Congress by enraged fellow Democrats
Business
World Cup boom pushes some Qatar residents out of homes
With the World Cup a few weeks away, and a million fans expected to descend on Doha, Qatari landlords are...
- FIFA recently released thousands of hotel rooms it had reserved, which experts have said could push prices of hotel rooms down in the coming weeks
- Some Doha residents are putting their flats and houses up for rent and fleeing Qatar for the month
Economy
UN says Ukraine war pushes 4m children into poverty
Paris, France— Russia's invasion of Ukraine and the resulting economic fallout have thrown four million children into poverty across eastern Europe...
- UNICEF said that children were bearing the heaviest burden of the economic crisis caused by the war in Ukraine
- UNICEF drew its conclusions from a study of data from 22 countries
Business
Sharjah Chamber joins Egyptian Chamber’s centenary event
The Sharjah Chamber of Commerce and Industry participated in the international conference to mark the 100th anniversary of the Egyptian...
- The Chairman of Sharjah Chambers Chairman met a number of officials from various Chambers of Commerce and Industry.
- He also met with representatives of ministries and bodies concerned with economic affairs, unions, and economic organizations from different countries.
Business
DEWA’s Jebel Ali plant enters Guinness World Records for second time
It was named as the Largest Single-Site Water Desalination Facility in the World by the Guinness World Records.
- The plant has the production capacity of 490 million Imperial Gallons of water per Day, which is equivalent to 2,227,587 Cubic Metres per Day.
- DEWA aims to increase its SWRO production capacity to 303 MIGD by 2030, reaching 42 percent instead of its current share of 13 percent.
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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
Most Asian markets rise ahead of toss-up US election
Asian markets mostly rose Tuesday a day before results from the US presidential election rolled in, with opinion polls showing...
Economy
Company News
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Sukoon Insurance sets up OIWSS
Business
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
At least 30% of all housing units in Gaza destroyed or damaged: UN
Geneva, Switzerland - At least 30% of the housing sector in the Gaza Strip has been either destroyed or rendered...
Geostrategy
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...
Economy
Most Read
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"
Economy
Tourism prowess makes Riyadh top World Expo choice
As Riyadh vies to host 2030 World Expo, the city offers a perfect blend of historical charm and modernity, spotlighting...
- The capital of Saudi Arabia is currently undergoing a transformative journey in tourism, seamlessly blending its historical allure with modern sophistication
- As Riyadh vies to host 2030 World Expo, it's set to showcase its rich history, architectural marvels, diverse culinary offerings, and advanced mobility solutions
Economy
Tourism prowess makes Riyadh top World Expo choice
In its bid to boost tourism, the Saudi capital blends historical charm with modernity, spotlighting its rich heritage, architecture, cuisine,...
- The capital of Saudi Arabia is currently undergoing a transformative journey in tourism, seamlessly blending its historical allure with modern sophistication
- As Riyadh vies to host 2030 World Expo, it's set to showcase its rich history, architectural marvels, diverse culinary offerings, and advanced mobility solutions