Iran slams new EU, UK sanctions as unjustified: foreign ministry
ran's foreign ministry Tuesday slammed as unjustified the new sanctions by the European Union and Britain against Tehran over its...Economy
Saudi Arabia appoints new CEO to drive NEOM’s mega-city project forward
In a big move, Saudi Arabia appoints Aiman al-Mudaifer as NEOM’s interim CEO, a strategic choice to advance the futuristic...Economy
Stock markets on hold as investors await key US inflation data
Stock markets were mostly in wait-and-see mode as investors eyed the release this week of key US inflation data that...The Dow edged higher at the open, while the S&P 500 and Nasdaq drifted lower.
With Wall Street seeing little action at the back of last week owing to the Thanksgiving break, traders had few catalysts to drive action.
Beltone 9M net profit at $2.7m
In 9M, the firm's restructuring led to a turnaround.Operating revenue in 9M 2023 increased to US$30 million, a growth of 271 percent Year-on-Year.
The NBFIs operating revenue recorded US$15 million in 9M2023, a growth of 680 percent YoY.
EDB commits US$350m for renewable energy projects in developing countries
ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator...The ETAF platform is a global climate finance facility established by the International Renewable Energy Agency (IRENA).
The announcement was made during the signing of a collaborative partnership agreement between EDB and IRENA.
Monsha’at reports Q3 rise in SMEs driven by growth across non-oil sectors
RIYADH, SAUDI ARABIA - The General Authority for Small and Medium Enterprises (Monsha'at) has released its latest quarterly SME Monitor,...The total number of SMEs in the Kingdom has risen and reached 1.27 million.
Over 43 percent of SMEs are located in the financial capital of Riyadh.
Bank of Sharjah joint lead manager for $350m Ittihad sukuk
SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million...The Sukuk issuance was 1.7 times oversubscribed, with the orderbook reaching approximately US$600 million.
“This demonstrates Ittihad’s solid business fundamentals and confirms its strong credit appetite,” CEO of Bank of Sharjah said.
Some farmers in drought-hit Iraq forced to reduce crops: NGO
Baghdad, Iraq -- Sixty percent of farmers surveyed in four provinces of drought-hit Iraq reported having to reduce cultivated areas or...Successive years of drought have already displaced tens of thousands from rural areas in Iraq, particularly in the southern provinces that face extreme heat during the summer.
In addition to drought, the authorities blame upstream dams built by Iraq's powerful neighbours Iran and Turkey for dramatically lowering water levels in the Tigris and Euphrate.
Bahrain and EU hold discussions to ramp up ties in energy sector
Manama, Bahrain-- Bahrain and the European Union (EU) have held discussions to boost cooperation in various domains, including the energy...The Bahrani oil minister shared details with the envoy of the kingdom's oil projects and environmental initiatives aiming for zero neutrality by 2060
The EU ambassador applauded the kingdom's progress and development, pledging to continue promoting investment for both parties sides
Brazil, UAE forge ahead with stronger bilateral ties
“We would like the UAE to be a partner in our current process of investing in infrastructure. It is a...Brazil's Ambassador to UAE, Sidney Leon Romeiro, praises UAE's commitment to environmental sustainability and renewable energy.
Brazil and UAE collaborate in global climate change discussions, aiming to meet Paris Agreement goals, the Brazil envoy highlights.
Gulf Air hit by data breach
It said client database may have been compromised.The airline said its operations and critical systems "were fully intact" and that there were no disruptions to its flight schedule
It said the details of the breach were shared with the authorities and it was working with them to investigate "the matter thoroughly"
Jordan’s jewelry, pharmaceutical exports rise in January-September 2023
AMMAN, JORDAN – The Kingdom’s exports of jewelry increased by 71.5 percent during the January-September period of 2023 and pharmaceutical...The value of Jordan’s exports of jewelry until the end of September amounted to about US$858 million.
The value of the Kingdom’s exports of pharmaceutical products until the end pf September was about US$531 million
