Cash-strapped Pakistan gets draft approval for $1.1 bn IMF payout
Islamabad, Pakistan - Pakistan reached a tentative deal to unlock a $1.1 billion tranche of an International Monetary Fund (IMF) bailout...Economy
UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...Business Economy Geostrategy Global
Iraq, Kurdish region sign accord to resume oil export
The deal, thrashed out in talks between federal and regional officials, spells the end of independent oil exports by the...The agreement was signed in Baghdad in the presence of Prime Minister Mohamed Shia al-Sudani and Kurdish premier Masrour Barzani.
The deal comes two days after Iraq, Saudi Arabia and several other major oil exporters announced a sharp reduction in their production from May.
Saudi Arabia hub of big healthcare firms
The current healthcare expenditure in the Gulf Cooperation Council region is expected to reach $135 billion in 2027, implying an...The kingdom will need 19,000 to 20,000 additional hospital beds by 2030, which calls for an investment of $33.8 billion to $35.6 billion.
Saudi Arabia's healthcare has seen tremendous growth and it continues to be one of the few sectors that have not been affected by economic fluctuations.
Prominent firms in DIFC to tap into wealth across region
DUBAI, UAE - Over 300 prominent wealth and asset management (WAM) firms have established themselves in Dubai International Financial Center...The financial center's 300 wealth and asset management firms should help in providing a conducive environment for businesses in the region.
DIFC's world-class legal and regulatory framework and access to competitive markets have bolstered the depth of its asset management ecosystem.
Credit Suisse chiefs apologize to shocked shareholders
ZURICH, SWITZERLAND - Credit Suisse chairman Axel Lehmann said Tuesday he was "truly sorry" that the beleaguered bank could not be...The 167-year-old bank's final AGM was the first chance Credit Suisse shareholders had to voice their frustrations.
"I can understand the bitterness, the anger and the shock of all those affected," Credit Suisse chairman Axel Lehmann said.
Evergrande signs restructuring agreement with international creditors
Hong Kong, China--Chinese property developer Evergrande said it has entered into a restructuring agreement with a group of international creditors, in...Evergrande, once China's biggest real estate firm, was found to be neck-deep in $300 billion in liabilities, touching off a nationwide property crisis
The company, in a Hong Kong exchange filing, said it had agreed to proposals with creditors who hold a big chunk of developer's offshore bonds
TRENDS Poll: Inflation takes biggest bite from Gulf household incomes during Ramadan
The poll discovers people struggling across the Middle East to cope with high cost of living in the holy month...Egypt has seen inflation vault to 32 percent in February with the government taking steps to mitigate its effect on low-income groups
Lebanon is facing a more severe cost-of-living crisis, with inflation reaching up to 123 percent in January
Dubai Financial Market hits one-month high riding on blue-chip communication stocks
Abu Dhabi, UAE - UAE stock markets Monday continued to capitalize on improved investor sentiments, with blue-chip communication stocks leading...Saudi Arabia, as per the report, was the best performing GCC market during the month with a gain of 4.8 percent
The Muscat Stock Exchange was the second-best performing market for the second consecutive month in March 2023
Bahrain’s investment push: Businesses with large-scale projects to get Golden Licence
Manama, Bahrain - Bahrain has announced the launch of a Golden Licence, providing incentives and streamlined services to foreign and...The move builds upon the growing investment attractiveness of Bahrain, which has recently recorded its highest Real GDP growth rate in almost a decade
Companies with major investment projects that will create over 500 jobs, or those with investment value exceeding $50 million, will be eligible for the license
Priorities set to spur Saudi digital transformation
Organizations across the Kingdom are witnessing major DX impact in customer satisfaction, cost efficiencies, and data-driven insights, an IDC executive...Organizations across the Kingdom are witnessing major DX impact in customer satisfaction, cost efficiencies, and data-driven insights, an IDC executive tells TRENDS
More than 50 percent of chief information officers in Saudi Arabia are now focused on transitioning their existing business models to digital ones, says an IDC report
DMCC posts record Q1 growth as 708 firms register
A total of 3049 new companies joined DMCC in 2022.This is DMCC's best performance in Q1 since its inauguration in 2002, marking a 8.4% increase year-on-year.
The best performing sectors for DMCC was its traditional core markets, which showed strong results in businesses from various countries.
