GCC leaders explore regional growth and opportunity at Doha investment meet
The burgeoning creator economy presents an unprecedented opportunity for GCC to outpace global cities and establish itself as the epicenter...
Business
Business
‘TAQA’ prices $1.75bn dual tranche
The 12-year senior unsecured notes are sized $850m.
- The 7-year notes, sized at US$900 million and maturing on 9th October 2031, are conventional bonds bearing a coupon rate of 4.375 percent.
- Proceeds from these bonds will be used for general corporate purposes.
Geostrategy
Libya’s eastern administration lifts oil production, export blockade
The Benghazi-based administration, which controls most of Libya's oilfields, said in a Facebook post it was "lifting the force majeure...
- Libya is struggling to recover from years of conflict after the 2011 NATO-backed uprising that overthrew Moamer Kadhafi
- It remains split between a United Nations-recognized government of Prime Minister Abdulhamid Dbeibah and the rival authority in the east backed by military strongman Khalifa Haftar
Geostrategy
Israel declares UN chief ‘persona non grata’ over Iran attack response
"Anyone who cannot unequivocally condemn Iran's heinous attack on Israel does not deserve to step foot on Israeli soil," said...
- Following Iran's missile attack on Israel late Tuesday, Guterres condemned the "broadening conflict in the Middle East", slamming "escalation after escalation" in the region.
- Israel has been a harsh critic of the UN, with ties between the state and the international body souring even more after the October 7 Hamas attacks.
Geostrategy
G7 says diplomatic solution is still possible in Middle East
Rome, Italy -- The G7 on Wednesday vowed to work together to reduce tensions in the Middle East and said a...
- Italian Prime Minister Giorgia Meloni called a telephone meeting of the body Wednesday to address the escalating Mideast crisis.
- "In a constantly evolving scenario, it was agreed to work together to promote a reduction of tensions at the regional level," said the statement released by the Italian government.
Business
Covestro accepts ADNOC takeover bid
The deal values German chemicals group at $13.3bn.
- Under the terms of the agreement, valid until the end of 2028, ADNOC will make an offer for all remaining Covestro stock at a price of 62 euros per share.
- ADNOC will also inject around 1.2 billion euros into the chemicals firm through the issuance of new shares, once the deal is completed.
Economy
Abu Dhabi non-oil GDP up 6.6% in second quarter: SCAD
Abu Dhabi, UAE -- Abu Dhabi's GDP increased by 4.1 percent during the second quarter of 2024, compared to the...
- The construction sector achieved remarkable growth rates of 11.5 percent in the second quarter of 2024, compared to the same period in 2023.
- It is estimated that the financial sector grew by 13.4 percent in the second quarter of 2024, compared to the same period in 2023.
Business
Foreigners and institutions pour $4.9 billion into UAE equities
Abu Dhabi, UAE -- Net investments by foreigners and institutions in UAE equities amounted to AED 18.3 billion ($4.9 billion)...
- Foreign investors "Arab and non-Arab" achieved net purchases in the two markets worth 15.5 billion dirhams during the same period.
- Institutions have achieved a net investment in the Abu Dhabi Securities Exchange worth more than AED 1.6 billion.
Geostrategy
Two-thirds of Gaza buildings destroyed or damaged: UN
Updating its damage assessment, the UN Satellite Centre (UNOSAT) said very high-resolution imagery collected on September 3 and 6 showed...
- "Those 66 percent of damaged buildings in the Gaza Strip account for 163,778 structures in total," it said.
- Approximately 68 percent of the permanent crop fields in the Gaza Strip showed "a significant decline in health and density" in September.
Geostrategy
Lebanon urges DNA tests to identify missing in Israel strikes
Families should head to centers affiliated with the Judicial Police "to conduct DNA tests", the police said in a statement....
- Israel has heavily bombed Lebanon's east, south and southern Beirut suburbs
- Health Minister Firas Abiad said bodies and body parts were still under the rubble
Business
Saudi leisure tourism surges by 656% in 2024: Tourism Ministry
Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector, particularly the leisure and holiday segments, witnessed substantial growth in 2024.In a...
- The Kingdom welcomed 17.5 million international tourists between January and July 2024, a 10 percent increase over the same period in 2023
- The Kingdom had set the goal of 100 million tourists by 2030, but achieved this milestone in 2023, seven years ahead of schedule.
GCC leaders explore regional growth and opportunity at Doha investment meet
The burgeoning creator economy presents an unprecedented opportunity for GCC to outpace global cities and establish itself as the epicenter...
Business
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ADNOC Drilling closes JV
Business
Egypt to access $1.2 billion in funding after deal with IMF
Washington, United States -- The International Monetary Fund said Tuesday that it has reached a deal with Egyptian authorities allowing the...
Economy
Mubadala acquires stakes from GHH
It acquired an 80 percent stake in Global Medical Supply Chain.
Business
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Honda and Nissan expected to begin merger talks
Honda and Nissan were poised Monday to announce the start of talks on a merger to help the Japanese giants...
- Their collaboration would create the world's third-largest automaker
- Honda and Nissan's partnership could include a manufacturing tie-up
In stabilization bid, Syria’s new ruler declares all weapons under state control, including Kurdish arms
Ahmed al-Sharaa announced all weapons, including those held by Kurdish-led forces, will come under state control, emphasizing unity and coexistence...
- Sharaa spoke alongside Turkish Foreign Minister Hakan Fidan, after earlier meeting with Lebanese Druze leaders and vowing to end "negative interference" in the neighbouring country
- Turkey has maintained strong ties with Syria's new leaders, and has continued military operations against Kurdish-held areas in northeastern Syria
Geostrategy
Pope again condemns ‘cruelty’ of Israeli strikes on Gaza
"And with pain I think of Gaza, of so much cruelty, of the children being machine-gunned, of the bombings of...
- The mounting criticisms of Israel appear to mark a change in the pope's tone in recent weeks. He has consistently called for peace since the beginning of the Israel-Hamas war
- At the end of September, the Pope also criticized Israel's "immoral" use of force in Gaza and in Lebanon