US President Donald Trump announced Tuesday a "massive" trade deal with Japan, cutting a threatened 25-percent tariff to 15 percent...
- US indices were near record highs two hours into the Wall Street session with all eyes on an incoming earnings...
The decision by the central banks, in the US and most of the Middle East, to hike interest rates are...The UAE's central bank raised the base rate applicable to the overnight deposit facility (ODF) by 25 basis points – from 5.15 to 5.40 percent
The decision to raise key rates comes as central banks across the world struggle with the challenge of controlling inflationary pressures
RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia was ranked 16 in annual container throughput by the 2023 edition...As per the industry report, container volumes across the Kingdom’s ports during 2022 were estimated at 10,439,620 TEUs.
The Kingdom’s groundbreaking strides in the global logistics landscape boils down to a host of critical catalysts,
Kuwait recorded its first surplus in nine years for the 2022-2023 fiscal year which ended in March, the finance ministry...More than 92 percent of revenues came from oil after prices surged following last year's Russian invasion of Ukraine.
Oil revenues for the fiscal year which started in April 2022 stood at $87 billion, a 64 percent increase from the previous year, the ministry said.
- The Gulf emirate, whose revenues rely heavily on hydrocarbons, closed its fiscal balance with a surplus of $21 billion, the ministry...
Oil revenues for the fiscal year which started in April 2022 stood at $87 billion, a 64 percent increase from the previous year, the ministry said.
The average price of a barrel of oil over the fiscal year stood at $97.1, an increase of 21.4 percent compared to the previous year. Output was 2.7 million barrels per day.
Profit driven by core revenues, effective cost management.Gross new underwriting and sukuk investments during H1 2023 reached US$12 billion compared to US$8.9 billion in H1 2022.
Total income reached to US$2.5 billion compared to US$1.6 billion, a solid expansion of 49 percent year on year.
A projected decline in the Middle East and Central Asia from 5.4 percent in 2022 to 2.5 percent in 2023...The downgrade for Saudi Arabia for 2023 reflects production cuts announced in April and June in line with an agreement through OPEC+.
Global growth is projected to fall from an estimated 3.5 percent in 2022 to 3 percent in both 2023 and 2024.
Results due to better sales in Japan, North America.Sales rose 37 percent to US$20.6 billion, even as tougher competition and a sluggish post-Covid recovery hurt its performance in China.
The auto giant raised its annual net profit forecast to US$2.4 billion from its previous estimate of US$2.2 billion, boosted in part by cost-cutting.
The Fed last month halted its aggressive campaign of monetary tightening after 10 consecutive rate increases to give policymakers more...A rate hike on Wednesday would raise the Fed's benchmark lending rate to a range between 5.25 and 5.5 percent - its highest level in 22 years
Futures traders see a probability of close to 99 percent that the Fed will proceed with a quarter percentage-point hike, according to data from CME Group
Abu Dhabi, UAE - The UAE government’s revenues amounted to AED115.6 billion ($31.3 billion) and its expenditures totaled AED92.5 billion...The results of financial transactions during the first quarter shows the value of net lending and net borrowing amounted to $6.3 billion
The value of total expenditures worked out $25.0 billion ,comprising net investment in nonfinancial assets and current expenses
Doha, Qatar-- The Qatar Free Zones Authority has joined hands with Qatar Development Bank to support foreign investors and firms...The agreement will enable both to widen the areas of cooperation to serve companies investing in free zones, allowing them to use a variety of services
The partnership is expected to create a suitable investment climate in Qatar and at the same time provide support to investors to achieve growth in businesses
