WEF24: Catalyzing investment, trade transform Africa
Addressing infrastructure and climate change is crucial for Africa's development, British Robinson, the Coordinator of the Prosper Africa Initiative, tell...Economy Climate Change
Boursa Kuwait posts $51m net profit
Operating profit for 2023 was recorded at US$59 million.Company News Business Economy
Nine countries join alliance to boost offshore windpower
Offshore wind can be deployed at large scale, in short timeframes and at competitive cost, GOWA said in a statement....The Global Offshore Wind Alliance (GOWA) was set up by the International Renewable Energy Agency (IRENA), Denmark and the Global Wind Energy Council
IRENA and the International Energy Agency (IEA) predict that offshore wind capacity will "need to exceed 2000GW in 2050, from just over 60GW today."
Binance to buy rival FTX
No financial terms were disclosed of the proposed deal.Bitcoin slid more than five percent, trading back under $20,000 before recovering.
FTX's FTT token slumped 25 percent to its lowest levels since early 2021.
Global stocks move higher as US voters cast ballots
Global stock markets mostly moved higher as Americans headed to the polls in midterm polls. The dollar got back some...Investors are waiting on US inflation data due on Thursday for a pointer on the interest path ahead.
The broader S&P 500 and tech-heavy Nasdaq wobbled around before moving higher.
Jordan imported 405k barrels of Iraqi crude in October
AMMAN, JORDAN - Jordan imported about 405,550 barrels of crude oil from Iraq in October, an average of 13,000 barrels...Jordan had imported roughly three million barrels of Iraqi crude from September 2021 to October 2022.
The crude oil was transported by 11,565 Jordanian and Iraqi tanker trucks.
UAE, Russia discuss ways to bolster medical collaboration
DUBAI, UAE - UAE's Ministry of Health and Prevention (MoHAP) discussed with the Russian Ministry of Industry and Trade ways...The two sides discussed ways to encourage more Russian companies to transfer some of their production lines to the UAE.
The two sides discussed exchange of medical expertise and ways to expand partnerships in the pharmaceutical sector between UAE and Russia.
Bayer Q3 profits at US$544m
Strong performance of the firm's agrochemicals division helped.Bayer reported US$84.9 million in profit in the third quarter of 2021.
Sales rose by 5.7 percent, to more than US$11.18 billion.
UAE-India manpower technical panel discuss collaboration
DUBAI, UAE - The UAE-India joint technical committee for manpower held its first meeting where it explored areas of collaboration...Both parties highlighted their keenness to enhance cooperation to ensure a safe, organized and legal transition of Indian laborers.
The UAE delegation presented key insights on its job market, which is one of the preferred global destinations for work.
Standard & Poor’s upgrades Qatar’s rating to AA with stable outlook
The agency expects that Qatar would achieve large budget surpluses and sustainably reduce debt servicing costs due to the government's...The agency expects that Qatar would achieve large budget surpluses and sustainably reduce debt servicing costs due to the government's successful strategy to pay off debts
This upgrade by Standard & Poor's comes in conjunction with Moody's amendment of its expectations for Qatar from "stable" to "positive"
Global financial industry leaders set to descend on Abu Dhabi
Key speakers from global investment and financial companies include Nouriel Roubini, Chief Economist at Atlas Capital Team L.P and, Hazem...Key speakers from global investment and financial companies include Nouriel Roubini, Chief Economist at Atlas Capital Team L.P and, Hazem Ben-Gacem, Co-CEO of Investcorp
The event now has Abu Dhabi Islamic Bank (ADIB), HSBC Bank, Mubadala and Standard Chartered as official partners, MidChains and OKX as supporting partners
China sees steady foreign trade growth in first 10 months
The European Union and the United States were China's second-largest and third-largest trading partners during the period, respectively.The European Union and the United States were China's second-largest and third-largest trading partners during the period, respectively
China's trade with countries and regions participating in the Belt and Road Initiative posted robust year-on-year growth
