Saudi holdings of US Treasuries surge to $131.9b in December 2023
ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...
Economy
Saudi Arabia ranks 1st in international tourist arrivals growth in 2023
Riyadh, Saudi Arabia - Saudi Arabia topped the UN Tourism’s ranking for the growth of international tourist arrivals in 2023...
Economy
Lebanese economy in a fix as PM-designate Hariri steps down
Lebanon's prime minister-designate Saad Hariri stepped down Thursday, saying he was unable to form a government, nine months after accepting...
High cost of food, fuel lifts inflation in Saudi Arabia to 6.2%
Accelerated mostly by the cost of food and fuel, inflation in Saudi Arabia has surged to 6.2 percent in June,...
Inflation delays start of Turkey’s rate cuts
Turkey's central bank has left its policy rate unchanged for the fourth month running as a spike in inflation to...
ADFD provides $15 million concessionary loan to Rwanda
Rwanda has signed a loan agreement with ADFD to get a loan of AED55 million, or around $15 million, for...
World hunger surges to 15-year high as COVID-19 stifles food access
As many as 811 million people – about a 10th of the global population – were undernourished in 2020, a...
Qatar takes key step to control own airspace
Qatar said on Tuesday that it has been given a preliminary green light by a UN body on a proposal...
Foreign envoys in Lebanon seek reforms for bailout cash, get no response
Donors want the establishment of a new government to enact urgently needed reforms Foreign donors have over the past year...
Syria govt raises bread, diesel prices as crisis deepens
The price of diesel fuel nearly triples and the price of bread doubles The move brings more pain for civilians...
Saudi Arabia’s non-oil economy to grow 4.3%
The investments by the Public Investment Fund contributed to the economic recovery Last year, Saudi's economy suffered a double whammy...
G20 ministers set to green light global tax reform
Finance ministers from the G20 richest nations are expected to give the green light Saturday to a historic deal to...
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Saudi holdings of US Treasuries surge to $131.9b in December 2023
ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...
Economy
Company News
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More than dozen private joint-stock companies list in UAE in 2022
Abu Dhabi, UAE-- The number of private joint-stock companies which listed in the UAE's capital markets during 2022 went up...
Business
In spite of US sanctions, Iran’s crude oil exports break five-year record
Tehran, Iran-- In spite of the US sanctions against the Islamic Republic, Iran has seen a huge surge in the...
Business
Saudi Arabia scouts Europe for business tie-ups in healthcare, mining sectors
Riyadh, Saudi Arabia-- Saudi Arabia is aiming to establish a slew of business partnerships in healthcare and mining sectors with...
Economy
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Business
Dubai records US$3.4bn in weekly real estate transactions
DUBAI, UAE - A total of 3,625 real estate and properties transactions valued at US$3.4 billion (AED12.5 billion) were conducted...
- The DLD report showed that 189 plots were sold for US$620 million.
- The report showed 2,753 apartments and villas were sold for US$1.9 billion.
Business
Mubadala invests $200m in Bicycle Capital
Bicycle Capital is a growth equity firm focusing on startups.
- Bicycle Capital has received $440 million commitments so far.
- Mubadala's $284 billion portfolio is spread across the globe.
Business
Dubai International Chamber opens Europe’s first representative office in UK
DUBAI, UAE - Dubai International Chamber (DIC), one of the three chambers operating under Dubai Chambers, inaugurated on Friday a...
- The new office will focus its efforts on strengthening relationships with key public and private sector stakeholders.
- The office will support UK firms seeking to relocate to expand in Dubai and grow their business through the emirate.