Oman issues Treasury Bills worth US$181m this week
MUSCAT, OMAN – The Central Bank of Oman (CBO) has announced that the total issuance of Treasury Bills amounted to...Banking & Finance Economy
‘UAE offers an economic model for all to emulate’
"This underscores our role in fostering development and regional and global cooperation, aiming to provide an economic model for all...Economy
Russian oil sales to India surge as European buyers turn to other markets
Moscow, Russia--Russian oil sales to India surged more than twentyfold last year as European buyers turned to other markets following the...When EU nations began ending thier reliance on Russian energy supplies, Moscow shifted its oil exports to India and China
Compared to last year, Russia's oil-export revenue dropped by almost half in February, according to the International Energy Agency
Qatar opens new derivatives market, investors can trade options, futures
Doha, Qatar--Qatar's bourse intends to open a new derivatives market that will allow investors to trade options and futures on...The country's financial regulator has issued a new regulatory framework for listed derivatives after a long consultation with investors and market participants
Qatar is now focused on building its equities market by opening it up to a wider investor base and introducing more listings
Saudi bus crash kills 20 pilgrims on way to Mecca: state media
Riyadh, Saudi Arabia--A bus ferrying pilgrims to the holy city of Mecca burst into flames after a collision on a bridge...According to state media the bus was carrying pilgrims to the holy city of Mecca when it burst into flames after a collision on a bridge
Al-Ekhbariya channel reported that the victims had "different nationalities" but did not mention them or provide a breakdown
Presight stock jumps 143%
The stock rocketed to AED3.7 from an offer price of AED1.34.Its initial public offering (IPO), which was oversubscribed 136 times, received total gross demand amounting to US$25.8 billion
The company's listing gives investors a chance to buy shares in the region’s leading international big data analytics company powered by AI
AI partnership to boost Abu Dhabi sustainability efforts
Abu Dhabi, UAE - The Technology Innovation Institute (TII) said Monday its AI and Digital Science Research Center (AIDRC) has...The Technology Innovation Institute's AI and Digital Science Research Center will partner with Mohamed bin Zayed University of Artificial Intelligence.
Over a period of three years, the researchers will work on developing advanced AI models for cybersecurity and smart city applications.
Criminals set to use ChatGPT for fraud, other cybercrimes: Europol
Created by US startup OpenAI, ChatGPT appeared in November and was quickly seized upon by users amazed at its ability...Europol said the criminals may use phishing, disinformation and malware to do more online frauds.
ChatGPT can also be used to write computer code, especially for non-technically minded criminals. the agency said.
Al Ansari Financial Services completes IPO, raising $195 million
Dubai, UAE - Al Ansari Financial Services on Monday announced it has set the final offer price for its IPO...The Global Offering attracted considerable demand from both the Qualified Investor Offering and the UAE Retail Offer
The Qualified Investor Offering saw strong demand from both international and regional investors
Turkish foreign minister, UN chief discuss grain deal
Ankara,Turkey - Turkish Foreign Minister Mevlut Cavusoglu discussed during a phone call with UN Secretary-General Antonio Guterres the deal to...Last week Turkey announced the extension of the deal that has allowed exports of Ukrainian grain to resume following Russia's invasion
Russia said it had agreed to a 60-day extension, while Ukraine's infrastructure minister said the deal had been extended for 120 days
First Citizens agrees to buy failed Silicon Valley Bank
It will buy "all loans and deposits" from Silicon Valley Bank, whose fall this month set off global fears about...US regulators, in the wake of SVB fall, created Silicon Valley Bridge Bank, which will be taken over by First CItizens from Monday
On Sunday, the Federal Deposit Insurance Corporation said the transaction cover US$119 billion in deposits and US$72 billion in assets
Standard Chartered to sell Jordanian business to AJIB
Amman, Jordan--Standard Chartered has decided to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), according to both the...The emerging markets-focused lender intends to exit seven markets in Africa and the Middle East
The bank wants to focus on faster-growing markets in the region, such as Saudi Arabia and Egypt
