Saudi National Bank launches US dollar-denominated sukuk
RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle.The sukuk are offered to qualified investors...Business Banking & Finance Economy Markets
Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...Business Economy Geostrategy Global
Investment to tackle climate change falls in 2022, says UNCTAD
Cross-border investment in climate change mitigation and adaptation is projected to decline in 2022 against the backdrop of a global...Mitigation projects accounted for 94 percent of international climate investments, whereas adaptation ones continued to lag far behind.
Developed economies made up two thirds of international project finance deals and greenfield investments in renewables.
Lebanon’s Aoun vacates presidential palace as power vacuum looms
Michel Aoun was vacating Lebanon's presidential palace, amid acclaim from his supporters, a day before his mandate expires without a...Lebanese lawmakers have tried but failed four times in a month to agree on electing a successor after Aoun's six-year term ends.
Lebanon is being run by a caretaker government as political divisions have prevented the formation of a new cabinet.
Lisbon Web Summit begins Tuesday, crypto specialists take prime spots
The conference attempts to bring together start-ups, investors, business leaders and agenda-broadening speakers –- linguist Noam Chomsky and heavyweight boxing...More than 100,000 people are expected to gather in Lisbon for the four-day Web Summit, the first full-scale edition since 2019 following the disruption of the pandemic.
Conference organizer Paddy Cosgrave said there were "a lot of questions to be answered" about crypto, describing it as "largely smoke and mirrors".
Ma’aden, Barrick Gold alliance get license to explore mining site in Saudi Arabia
Saudi Arabia's Ministry of Industry and Mineral Resources announced that Saudi Arabian Mining Company Ma'aden and Barrick Gold Ltd alliance...The site attracted the interest of more than 20 local and international mining companies for an exploration license.
Ma'aden and Baric alliance have committed on spending over US$12 million to accelerate exploration at the Umm Al-Damar site.
Indonesia needs 17 million technologically literate workers: Minister
Jakarta, Indonesia--- Indonesia would need 17 million technologically literate workers, or workers who are able to use and manage technology,...State-Owned Enterprises (SOEs) Minister Erick Thohir said Indonesia's digital economy will grow to Rp4,500 trillion by 2030.
The SOEs are committed to supporting the development of the digital ecosystem, he said.
Middle East stares at mass displacement due to climate change
The World Bank estimates that by 2050, if nothing is done to prevent it, there will be 216 million people...Agriculture in Egypt has grown even less profitable because of new climate-linked hazards such as "the appearance of new parasites"
In 2021, natural disasters forced "nearly three million people" to leave their homes in Africa and the Middle East
GCC condemns German minister’s remarks on Doha World Cup
The secretary general of the Gulf Cooperation Council condemned remarks by Germany's interior minister on the World Cup due to...GCC chief Nayef al-Hajraf expressed support for Qatar in a statement published on the council's website.
The six-member Gulf bloc backs Doha in addressing any interference in its internal affairs, the GCC chief said.
Russia suspends participation in Ukraine grain deal
Russia suspended its participation in a pact that allowed grain exports from Ukraine, blaming alleged drone attacks on Russian ships...The Turkey and UN-brokered deal to unlock grain exports signed between Russia and Ukraine in July is critical to easing the global food crisis caused by the conflict.
Russia had recently criticized the deal, saying its own grain exports have suffered due to Western sanctions.
Gulf indices ease as China COVID curbs hit oil prices
Stock markets across the GCC remained less enthusiastic as oil, which fuels the region's growth, declined amidst fresh coronavirus scare.Gulf stock exchanges declined during the last two trading days.
The Dubai Financial Market fell 49 points for this week as a whole, or 1.4 percent, compared to last week,
‘EU froze Russian assets worth US$17bn since Ukraine war began’
The European Union has frozen Russian assets worth around $16.9 billion since Moscow invaded Ukraine, EU Justice Commissioner Didier Reynders...The figure has risen from the roughly US$13.7 billion from oligarchs and other entities that the EU had frozen and announced in July.
So far, the assets of 90 people worth more than $16.9 billion in seven members, including $2.1 billion in Germany, have been frozen.
