Economy – the biggest loser in the Israeli-Arab war
The sheer scale of destruction from the deadliest war in Gaza's history has made the road to recovery difficult to...Economy
Stocks firm, dollar subdued as market flirts with outsized Fed cut
Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start...Economy
Iran’s exports of agriculture products climb up 10% to US$1.62bn
Tehran, Iran-- Iran's exports of agricultural products to the outside world shot up 10% in the first 5 months of...The United Arab Emirates, Iraq and the Russian Federation were the major destinations for Iran's exported crops
During the first 5 months of 2023, a total of 2,169 million tons of agricultural products worth $1.62 billion were exported
‘Saudi Arabia committed to peaceful nuclear energy’
"The Kingdom underscores the need for collective international efforts to enforce the provisions of the Non-Proliferation Treaty and ensure its...Saudi Arabia's government emphasizes transparency, reliability, and safety in its national atomic energy policy
It acknowledges the positive impact of nuclear energy on energy security and socio-economic benefits.
Saudi Arabia launches new TV channel to highlight ‘rapid progress’
Riyadh, Saudi Arabia-- Saudi Broadcasting Authority (SBA) has launched a new TV channel called Saudia Alaan (Saudi Now) to highlight...The channel will showcase the kingdom’s “rapid progress” towards the Saudi Vision 2030 and its recent advancements, which are reflected in the diverse events
The airing of the channel comes at a time when the kingdom is witnessing a significant increase in the number of events, exhibitions, and conferences
ADX inks pact with Expo Center Sharjah to boost financial services
Abu Dhabi, UAE - The Abu Dhabi Securities Exchange (ADX) signed an agreement with the Expo Center Sharjah to enhance...The MoU between ADX and Expo Centre Sharjah aims to enhance services provided to the investor community in Sharjah
ADX and Sharjah Expo will be able to provide their respective customers with a more comprehensive range of services and offerings
Central Bank of Bahrain treasury bills oversubscribed by 149 percent
MANAMA, BAHRAIN - This week’s BD 70 million (US$186 issue of Government Treasury Bills has been oversubscribed by 149 percent.The...The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of the Kingdom of Bahrain.
The issue date of these bills is September 27 2023 and the maturity date is December 27 2023.
Arab countries account for 60 percent of global Islamic financial industry, says AMF
ABU DHABI, UAE – Director-General and Chairman of the Board of Directors of the Arab Monetary Fund Dr Abdul Rahman...Setting accounting standards for Islamic finance institutions helps support the growth of the industry.
Maintaining the Islamic financial industry's achievements requires focusing on capacity building.
Qatar launches ‘Istamer’ platform to employ retirees in private sector
DOHA, QATAR - The Ministry of Labor (MoL) launched the "Istamer" digital platform, which deals with employing Qatari retirees wishing...The platform’s purpose is to aid retired persons keen on re-entering the workforce find jobs in private institutions aligned with their expertize.
The platform streamlines the entire recruitment process, from application submission to interviews and final job offers, which is all conducted online.
ADNOC, TAQA complete financial closing on sustainable water supply project
ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...A consortium comprising Orascom Construction and Metito (the Consortium) will construct a centralized world-class seawater treatment facility.
ADNOC and TAQA own a joint 51 percent majority stake (25.5 percent each), the Consortium owning the remaining 49 percent stake in the project company.
Evergrande shares sink after restructuring plan scrapped
Evergrande's enormous debt has contributed to the country's deepening property market crisis, raising fears of a global spillover. The property...The company collapsed more than 25 percent by the break, underscoring market concerns as China's property sector faces an unprecedented crisis
On Sunday evening, Evergrande announced that it was unable to issue new debt as its subsidiary, Hengda Real Estate Group, "is being investigated"
Germany’s housing sector slumps into crisis
Scholz's government had promised to build 400,000 homes a year to alleviate an endemic housing shortage made worse by burgeoning...Experts believe the sector will struggle to even hit 250,000 in new build approvals this year
Housing Minister Klara Geywitz recently announced plans to offer aid to help families get on the property ladder
