Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...
Business
‘Innovative startups key to national prosperity’
"Investing in youth, inspiring ideas, and transforming them into creative projects is a cornerstone for facing global challenges in many...
Economy
Economy
Saudi MSMEs get new three-month payment respite
The Deferred Payment Program was launched on March 14 last year, as Covid-19 was spreading across the world. According to...
- The respite is in the form of the extension of the Deferred Payment Program for the MSMEs
- The initiative is one of the many Private Sector Financing Support Programs the central bank has launched to help the economy
Economy
Non-oil sector fuels Bahrain economy growth
The results are said to be showing signs of economic recovery of Bahrain.
- The overall growth is apparently due to the rise achieved by the non-oil sector
- The rise has been supported by transportation & telecommunications and hotels & restaurants activity
Business
$80 oil sparks mixed fortunes for world economy
Rising oil prices handed a major boost to producers but threaten the global recovery and stoke inflationary pressures because they...
- Global supplies have been disrupted because US production remains hampered by the ongoing fallout from Hurricane Ida.
- OPEC now expects global oil demand to exceed its pre-pandemic level in 2022 thanks to Covid vaccines and recovering economies.
Business
Construction works complete on a stretch of UAE rail network
DUBAI: Etihad Rail has completed construction works on a stretch of the 1200-km UAE National Railway Network, the company said on...
- The work was completed ahead of schedule on Package A of Stage Two, which extends over 139 km.
- 40 percent of the network’s annual transport capacity has been reserved through commercial agreements.
Economy
SEDCO Capital, Lombard Odier launch Shariah-compliant fund
The Fund's composition reflects a convergence of SEDCO Capital's Prudent Ethical Investment (PEI) approach with Lombard Odier's investment expertise
- The Fund's composition reflects a convergence of SEDCO Capital's Prudent Ethical Investment (PEI) approach with Lombard Odier's investment expertise
- The Fund aims to deliver capital growth through an active asset allocation strategy with the goal of outperforming the Dow Jones Islamic Market World Developed Total Return Index
ACWA Power final IPO price nearly $15 per share, targets raising $1bn
The company expects to raise more than $1 billion from the public offering, valuing the company at about $10 billion.
- Retail offering started on Wednesday and will run until Oct. 1
- ACWA is considering issuing green bonds in 2022 and beyond to raise funds for some renewable energy projects.
Elon Musk wants US regulators to let cryptocurrency ‘fly’
Los Angeles: Tesla chief executive Elon Musk thinks US regulators should take cryptocurrency out of their crosshairs, leaving it free...
- China's central bank last week said all financial transactions involving cryptocurrencies are illegal.
- Tesla early this year announced it had bought $1.5 billion worth of Bitcoin.
Business
Tariq Al Samahiji CEO of GFH Group’s UK ops
Al Samahiji is the non-executive chairman and co-founder of Orpheus Partners.
- He served as CEO of BNP Paribas Najmah and Global Head of BNP Paribas Islamic Finance and Investments.
- GFH said it currently has assets of over $12 billion globally and looks to build its international portfolio through organic and inorganic growth.
Economy
DEWA partners with Global Manufacturing and Industrialisation Summit
DEWA has implemented Fourth Industrial Revolution technologies, such as Artificial Intelligence, Cloud Computing and the Internet of Things to drive...
- DEWA and GMIS will collaborate to promote the use of advanced energy-saving innovations
- The collaboration will enable greater synergy between utility providers and industrial enterprises to eliminate energy wastage
Business
OPEC sees oil demand growing over next two decades
The cartel's world oil outlook goes against the vision of the International Energy Agency, which warned in May that demand...
- Developing countries will fuel demand while it will begin to fall in wealthier nations from 2023, said OPEC.
- The OPEC report comes as Brent crude oil prices jumped above $80 per barrel for the first time in almost three years.
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Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...
Business
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Merck to buy Prometheus
Business
Violence and looting rage in France after police shot teenager
Nanterre, France--Sporadic violence and looting hit several cities across France in a fourth night of protests after the fatal police shooting...
Geostrategy
Jordan’s exports to non-Arab Asian countries climb to US$1.16bn in Q1
Amman, Jordan-- Trade between Jordan and non-Arab Asian countries has shot up in the first quarter of 2023, with the...
Economy
France charges Lebanon central bank chief’s ex-assistant in graft probe
A former assistant of Riad Salameh, the governor of Lebanon's central bank, has been charged with money laundering by France....
Economy
Most Read
Geostrategy
France, UAE share vision to shift towards clean energy
PARIS, FRANCE - French Minister of Foreign Trade Olivier Becht said his country and the UAE share a common vision...
- The UAE and his country are working together on low-carbon energy solutions, the French minister said.
- The minister highlighted the rising number of natural disasters globally caused by climate change.
Business
Apple tops $3trn in market value
Wall Street rises as US consumer inflation moderates.
- The personal consumption expenditure index measure of inflation eased to 3.8 percent year-on-year in May.
- The data comes on the heels of other upbeat economic reports this week adding to hopes the US economy can avoid a recession.
Economy
OFID, partners offer $60m loan to Tanzania for renewable energy
VIENNA, AUSTRIA - A new US$60 million loan by the OPEC Fund for International Development (OFID) and partners is expected...
- The project will include constructing a 166km overhead transmission line connecting the Kagera region to the national grid.
- Tanzania is investing in expanding its hydropower capacity with plants under development at Rusumo and Kakono in its northwestern region.