Qatar backs joint transition to low-carbon energy
Eng. Saad bin Sherida Al Kaabi notes that Qatar has consistently underscored its strong and supportive position regarding natural gas...
Economy
DFM net profit surges 30%Â
Business
American Q1 profit at $10m
Business
KSA beats economic challenges with non-oil revenue
Anticipated growth in non-oil sectors, including tourism, manufacturing, and financial services, is set to drive future economic expansion, says a...
Economy
Qatar opens fifth 2022 World Cup venue
The 40,000-seat ground will host groups matches during Qatar 2022 up to the quarter-finals.
- The 40,000-seat ground will host groups matches during Qatar 2022 up to the quarter-finals
- It was designed by Qatari architect Ibrahim M. Jaidah to resemble the 'gahfiya' cap, traditionally worn by men in the region
Economy
UAE to chair 6th Annual Asian Infrastructure Investment Bank meeting
The Meeting will focus on a number of key themes, including investing in the infrastructure for tomorrow such as cross-border...
- The meeting to be attended by 103 members as well as strategic partners from around the world will be held virtually under the theme "Investing Today. Transforming Tomorrow."
- In 2020, the Asian Infrastructure Investment Bank announced its strategic ambition to allocate 50% of its total funding until 2025 to climate-friendly projects
Arts & Culture
Qiddiya: Saudi Arabia’s Disneyland
The destination will include a Formula 1 racing trajectory, a Six Flags Theme Park, a water park and sporting venues...
- The destination will include a Formula 1 racing trajectory, a Six Flags Theme Park, sporting venues, and a large selection of cultural, creative, and artistic activities
- The entertainment city is expected to attract 17 million visitors in the entertainment sector, 12 million in the shopping sector, and 2 million in the hospitality sector by 2030
Business
Al Babtain to procure SAR 250m loan
The facility will be provided through Murabaha mode
- The duration of the banking facility is four years and 282 million riyals have been pledged as guarantees for the financing.
- The company said the loan will be used for re-structuring a part of short-term finances.
Economy
Saudi index reaches new highs on oil price rise
The oil price rise is expected to raise the economic growth of Saudi Arabia and the UAE. The kingdom is...
- Qatar Stock Exchange upwardly revised 0.1 percent on Thursday, aided by a 3.5 percent increase in Nakilat shares.
- Egyptian Stock Exchange ended its sessions on Oct. 20 with a collective decline of indices for the second consecutive session.
Economy
Turkish lira plumbs new lows under economic pressure
The designation by the Paris-based Financial Action Task Force threatens to further limit foreign direct investments -- already standing at...
- One of the year's worst days for the beleaguered lira started with a central bank decision to cut its policy rate to 16 from 18%
- The lira lost more than 2.5% against the dollar on fears the bank had lost its last vestiges of independence from Turkish President Erdogan
Economy
GCC: Covid ushering in a cash-free future
About 61% of the UAE consumers are opting for cards or digital wallets instead of paying in cash, a joint...
- About 61% of the UAE consumers are opting for cards or digital wallets instead of paying in cash, a joint study by Dubai Economy and Visa has pointed out.
- Another study by McKinsey found that digital point-of-sale transactions in Saudi Arabia doubled in the year leading up to January 2021
Qatar World Cup final venue 98.5 percent complete: official
The Lusail Stadium is about 20 kilometres (12 miles) from the capital Doha and will host a number of matches...
- The Lusail Stadium is about 20 kilometres (12 miles) from the capital Doha and will host a number of matches during the tournament, including the final
- It is one of eight stadiums that Qatar has designated for the World Cup, which will be the first ever in the Middle East
Geostrategy
Renewable energy jobs reach 12 million globally
A report by the International Renewable Energy Agency confirms Covid-19 caused delays and supply chain disruptions, with impacts on jobs...
- Off-grid solar lighting sales suffered due to Covid-19 disruptions, but companies were able to limit job losses.
- China commanded a 39 percent share of renewable energy jobs worldwide in 2020, followed by Brazil, India and the US.
Business
Abu Dhabi launches virtual license for non-resident foreign investors
Non-resident foreign investors can obtain a virtual license for doing business in Abu Dhabi from any location outside the UAE...
- Investors can obtain the license from any location outside the UAE and without having to meet residence procedures.
- The license covers 13 economic sectors on top of the strategic sectors targeted by the Abu Dhabi government to attract Foreign Direct Investment.
Qatar backs joint transition to low-carbon energy
Eng. Saad bin Sherida Al Kaabi notes that Qatar has consistently underscored its strong and supportive position regarding natural gas...
Economy
Company News
DFM net profit surges 30%Â
Business
American Q1 profit at $10m
Business
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FAB posts Q1 net profit of $1bn
Business
Barclays Q1 net profit at $2.2bn
Business
Iran emerging as a hub for health tourism in West Asia: Raisi
Tehran, Iran--Iranian President Ebrahim Raisi has claimed that health tourism in the country has attracted patients from neighboring countries and...
Business
DEWA exhorts customers to adhere to its safety standards
Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has exhorted community members to ensure that safety standards are always in place...
Economy
Office segment demand drives Saudi Arabia’s real estate boom
"The office sector shines brightest in the real estate market. Saudi Arabia's rapid economic growth drives the demand," Faisal Durrani,...
Economy
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Economy
Russia to cut oil output by another 500,000 bpd
Moscow, Russia - Russia on Friday confirmed the reduction of oil supplies to markets by 500,000 barrels daily in August...
- Earlier, Deputy Prime Minister Alexander Novak told reporters that Russia will slash oil supplies to markets in August through the reduction of exports
- Saudi Arabia and Russia have recently announced their decision to extend cuts to oil production in an effort to bolster global oil prices
Business
Saudia raises seat capacity by 10%
The number of domestic, international flights will rise.
- This would be a 10 percent increase in the number of seats on a year-on-year (YoY) basis, the airlines said in a statement.
- Saudi Arabian Airlines said that more than 4.2 million seats would be added to international flights.
Economy
Global food prices fall to lowest level in two years in June
Dubai, UAE -- The World Price Index of the Food and Agriculture Organization of the United Nations (FAO) fell last...
- The World Price Index drop was driven by the lower cost of sugar, vegetable oils, cereals and dairy products.
- The FAO Cereal Price Index fell 2.1 percent in June compared to the previous month, with prices of corn, barley, sorghum, wheat and rice declining.