Iran becomes world’s ninth biggest steel producer, says WSA
TEHRAN, IRAN – The Middle Eastern country has improved its global standing in steel production, becoming the ninth largest producer...Business Economy
China discovers world’s largest metamorphic rock oilfield in Bohai Sea
BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...Business Economy Energy
Bank of China lists $300m bonds
The bank's Fitch A ratings bonds were listed on Nasdaq Dubai.The new listing highlights Nasdaq Dubai's significant role in strengthening links between the capital markets in Dubai and China.
Bank of China's Dubai branch has issued the 2025-maturing bonds at a yield of 4.84 percent.
UAE Financial Restructuring Committee, World Bank discuss bankruptcy law
ABU DHABI, UAE - Members of the Consultative Council of UAE's Financial Restructuring Committee (FRC) has met with experts from...The meeting was held virtually and sought to discuss the latest updates on amendments to the bankruptcy law.
The meeting discussed the proposed amendments to the bankruptcy law in terms of public policy.
Governments of UAE, Egypt launch ‘Egypt Services Center’
ASWAN, EGYPT - The governments of the UAE and Egypt inaugurated the Egypt Services Center in the Aswan Governorate, which...The inauguration is part of the strategic partnership between the two countries in government modernization.
The center will adopt a smart system to provide over 30 individual government services.
China begins WTO dispute against US chip export curbs
Beijing, China—China has filed a dispute with the World Trade Organization over US restrictions on chip exports, Beijing's commerce ministry said...The United States in October announced new export controls aimed at restricting China's ability to buy and manufacture high-end chips with military applications
Chinese leader Xi Jinping and US President Joe Biden pledged to repair frayed relations at a summit in Bali, Indonesia last month
Turkey discovers 150m barrels of oil reserves worth $12bn: Erdogan
Erdogan said Ankara aims to increase its daily production to 100,000 barrels by the centennial of the Republic of Türkiye.Erdogan said Ankara aims to increase its daily production to 100,000 barrels by the centennial of the Republic of Türkiye
The newly discovered oil reserves have been named after Gendarmerie Esma Cevik, who was killed clearing mines on Gabar Mountain
Dubai International Chamber launches three new offices in Cairo, Tel Aviv, Istanbul
The formal inauguration of the representative office in Tel Aviv will take place in the Israeli capital on December 13.The formal inauguration of the representative office in Tel Aviv will take place in the Israeli capital on December 13
International offices have a dual mission of supporting and guiding Dubai companies through every stage of their global expansion
EDB, ADCB ink pact for UAE SMEs
The MoU will enable SMEs access to financing options.The scheme is in line with EDB’s mandate to provide AED 30 billion towards the development of the UAE economy in five strategic sectors.
The Memorandum of Understanding (MoU) will enable SMEs in the UAE to have improved access to strategic financing options.
Amgen to buy Horizon Therapeutics
The US biopharma firm will pay US$28 billion for the deal.This is the biggest acquisition of the year in the health sector.
The deal is subject to approval by US regulators and if all goes well it should be concluded in the first half of 2023, Amgen said.
HUB71 startup community raises $1bn in venture capital
The milestone was achieved in a year which has seen Hub71 onboard 53 high growth technology companies.The milestone was achieved in a year which has seen Hub71 onboard 53 high growth technology companies
Hub71 has built a diverse capital ecosystem of active investment partners ranging from Mubadala Investment Company to over 30 VC firms to family offices
UK economy posts growth as GDP rises 0.5% in October
Gross domestic product fell 0.6 percent in September after businesses closed for the royal funeral, and Britain's economy shrank by...Britain's finance minister Jeremy Hunt said in a statement that despite the figures showing growth, "there is a tough road ahead"
The Bank of England has predicted the UK economy would contract in the final quarter of 2022, meaning the economy was in a recession
