Okonjo-Iweala’s second term: Trump’s disdain for WTO biggest challenge
Ngozi Okonjo-Iweala, the first woman and the first African to head the WTO, is the only candidate in the race,...
Geostrategy
Adani Group says it lost nearly $55 billion as US bribery charges sparked rout
The November 20 bombshell indictment in New York accused billionaire industrialist founder Gautam Adani and multiple subordinates of deliberately misleading...
Business
Business
UAE to cut fuel prices from September 1
The United Arab Emirates will slash prices of petrol and diesel from September 1 amid the easing of Covid pandemic...
- Fuel committee announces latest price adjustments
- Fuel prices have been up for the past several months
Business
Abu Dhabi bourse to cut trading commissions by 50%
The Abu Dhabi Securities Exchange (ADX) has cut its trading commissions by 50%, and will extend its trading hours by...
- The trading fees will be reduced to 0.025% from 0.05% from September 1
- The trading hours extension should bring ADX into line with the operating hours of many exchanges globally
Geostrategy
Israeli PM promises ‘new spirit’ in Biden meeting
Israeli Prime Minister is meeting with the US President at the White House
- Israeli Prime Minister is meeting with the US President at the White House
- He told reporters ahead of his first state visit that Biden was "an old and true friend of the State of Israel."
Business
Saudi Arabia remains China’s top crude supplier
Although its supply of crude oil fell ten percent on the month, Saudi Arabia still continued to be China’s top...
- Shipments from Saudi Arabia, according to media reports, totaled 6.69 million metric tons in July, or 1.58 million bpd, compared with June's 1.75 million barrels per day
- Imports from Russia were 6.64 million metric tons last month, or about 1.56 million bpd, versus 1.62 million bpd in June
Investigation
Mergers, acquisitions in GCC up during pandemic
Expanding regional and global footprints, high revenues, cheap capital to invest and diversification key factors that hastened the merger processes.
- An active merger and acquisitions market indicates a buoyant stock and credit markets.
- M&A activity will persist through 2021, with a focus on certain sectors.
Geostrategy
Fuel tank blast kills 20 as Lebanon struggles to cope with oil demand
The cause of the explosion was not immediately clear. Lebanon, hit by a financial crisis branded by the World Bank...
- Lebanese Red Cross said on Twitter its teams transported 20 bodies and more than seven injured to hospitals.
- The country is facing soaring poverty, a plummeting currency and shortages of basic items like medicine.
Economy
Lebanon leaders, central bank lock horns over fuel subsidies
In a country suffering from one of the worst economic crises in the world, this could effectively raise prices for...
- The central bank on Wednesday ended subsidies on imported fuel, and instead offered importers a line of credit
- Caretaker Prime Minister Hassan Diab said the move ‘contravenes the law’
Pope Francis back to full-time work with call for Lebanon aid
Francis said he hoped an international conference on Beirut explosion anniversary proves productive.
Israel’s top court delays decision on evictions of Palestinian families
Palestinians said the offer was made that they remain in their properties in the Sheikh Jarrah neighbourhood as "protected tenants."...
Hotel occupancy shows signs of recovery in MENA: Colliers
The hospitality industry has been the worst hit by the Covid pandemic, but there are signs that suggest a recovery...
Okonjo-Iweala’s second term: Trump’s disdain for WTO biggest challenge
Ngozi Okonjo-Iweala, the first woman and the first African to head the WTO, is the only candidate in the race,...
Geostrategy
Company News
Latest News
Empower okays S115.7m dividend
Business
Mubadala invests in Avanse
Business
UN aid chief warns of ‘apocalyptic’ consequences of Gaza shortages
"If fuel runs out, aid doesn't get to the people where they need it, that famine, which we have talked...
Geostrategy
OpenAI disbands team devoted to artificial intelligence risks
San Francisco, United States -- OpenAI on Friday confirmed that it has disbanded a team devoted to mitigating the long-term dangers...
Business
Israeli leaders split over post-war Gaza governance
Jerusalem, Undefined -- New divisions have emerged among Israel's leaders over post-war Gaza's governance, with an unexpected Hamas fightback in parts...
Geostrategy
Most Read
Business
ADX gains $1.90bn on strong performances from bank stocks
Abu Dhabi, UAE -- The Abu Dhabi Securities Exchange (ADX) extended its gains at the close of trading today, adding...
- The total market capitalization of listed shares reached AED 3.49 trillion at the end of Thursday's trading session.
- Local stocks attracted over AED1.5 billion in liquidity at the end of the session, distributed as follows: AED 1.12 billion on the ADX and AED396.3 million on the DFM.
Business
TAQA Q1 net income $571m
Net income fell $2.58bn due to one-off items recognized in 2023.
- Net income, excluding these one-offs, increased by AED 100 million, 6.9% higher than the prior-year period.
- TAQA’s revenues reached AED 13.7 billion, 5.3 percent higher than the prior-year period, due to the contribution from SWS Holding.
Business
As international gas demand grows, Qatar eyes more long-term deals
Energy Minister Saad al-Kaabi, who is also chief executive of QatarEnergy, said the state-owned giant had secured sales of 25...
- "It's just agreeing on terms and conditions and pricing... but I think there's a huge demand out there, whether it's from Asia or Europe," Kaabi told the Qatar Economic Forum.
- "I think even Europe is realizing now they have to do something different to secure long term," he added.