Saudi non-oil exports leap up 28% to $18.48bn in Q3
Saudi Arabia recorded a 28.4 percent rise in non-oil exports in the third quarter of 2021 to $18.48 billion thanks to higher shipments of plastic and chemicals.Tadawul looks to raise $1bn from its IPO
Tadawul is looking to raise up to $1 billion from its initial public offering (IPO), after setting the price range per share between SR95 and SR105.India’s Reliance ditches $15bn Saudi Aramco deal
India's Reliance oil-to-telecoms giant is abandoning a $15 billion deal for Saudi Aramco to buy a 20 percent stake in its oil refining and chemicals unit as the firm pivots towards renewable energy. Reliance and other major Indian firms have since poured billions of dollars into green power to reduce...Trade between Jordan and UAE grows to $891m in 2021
Trade between Jordan and the United Arab Emirates has grown to $891 million during the course of last year, and the UAE has invested some $17 billion in Jordan, in a sign of strong economic ties.Kuwait’s budget deficit spikes 175 percent to $35.5bn
Budget deficit of Kuwait has spiraled 175 percent to $35.5 billion in 2020-2021, the highest in the country’s history.Trade surges 69% to AED15.84bn between UAE and Italy in 2021
Trade between the United Arab Emirates (UAE) and Italy has surged 68.6 percent to AED15.84 billion in the first half of 2021, compared AED9.4 billion in the same period last year.Russia wins latest round of $50bn Yukos case
The Dutch supreme court on Friday scrapped an order for Russia to pay a record $50 billion to former shareholders in dismantled oil giant Yukos, but the legal saga is set to drag on for years more.Empower to buy DXB assets
The deal is valued at AED1.1 billion ($300 million).Largest Saudi gold mine to begin work in Q1 of 2022
Saudi Arabia is set to begin mining gold from one of the biggest reserves of the kingdom in the first quarter of next year.First Abu Dhabi records 26% rise in net profit to AED9.2bn
First Abu Dhabi Bank has recorded a 26 percent rise in net profit to AED9.2 billion in the first nine months of 2021.SABIC records 412% spike in net profit to $1.5bn in Q3
Saudi Basic Industries Corp. (SABIC) has posted a nearly 400 percent spike in net profit to $1.5 billion for the third quarter as revenues grew on the back of higher prices.Saudi-Swiss investment to touch $3.2bn by 2030
The Saudi-Swiss Investment Forum aims to touch $3.2bn of financing by 2030. The body, launched on 25 October in Riyadh, will also back Swiss companies who want to invest in the kingdom.Al Rajhi Bank’s net profit vaults 44% to $2.86bn
Al Rajhi Bank of Saudi Arabia posted a 44 percent rise in net profit to $2.86 billion for the first nine months of 2021. The bank had earned $1.992 billion in the same period last year.Saudi National Bank posts 20% jump in net profit to $1bn
Saudi National Bank (SNB), the kingdom’s biggest lender, has posted a nearly 20% jump in net profit to $1 billion in third quarter from higher fees.STV sets its sights on $1bn Middle East tech fund
STV is aiming to raise at least $1 billion for its second Middle East technology investment fund, making it potentially the biggest fund of its kind in the regionIslamic Development Bank of KSA sets the price of its issuances
The Islamic Development Bank of Saudi Arabia has set the price of its second and final issuances as part of its plan to mobilize financial resources.Boeing says MENA will need 3,000 new aircraft in 20 years
The MENA region will need some 3,000 new aircraft worth $700 billion in the next 20 years to cater to the demand for air travel. The conclusion was drawn by Boeing in its Commercial Outlook for 2021.UN report says global FDI rebounds to $852bn in H1
A United Nations report has depicted a positive picture of global foreign direct investment during the first half of 2021. As much as $852 billion in FDI was recorded by countries across the world on the back of growing investor confidence.Foreign investment in Egypt’s oil sector drops 26% to $5.4bn
Foreign investment in the oil sector of Egypt has dropped 26.02 percent to $5.4 billion in the current financial years, compared to $7.3 billion a year before.Post merger, Emaar Properties and Emaar Malls form a single company
Shareholders of Emaar Properties have approved the merger of the company with Emaar Malls, according a bourse filing.Qatar National Bank posts 8 percent jump in net profit to $2.83bn in 9 months of 2021
Qatar National Bank (QNB), the Gulf's biggest lender, posted an 8 percent increase in nine-month net profit to $2.83 billion, citing loan growth.Pipeline to transport gas from Qatar to UAE secures $3bn in financing
The Dolphin Gas Project, a natural gas pipeline to transport Qatari natural gas to the United Arab Emirates and Oman is set to receive $3 billion in financing.Egypt’s non-oil exports leap up to $7.5 billion in Q1 of 2021
Egypt's non-oil exports increased to $7.5 billion in the first quarter of 2021, compared to $6.5 billion in Q4-20, according to data by the cabinet's Information and Decision Support Center.Egypt and Saudi Arabia sign $1.8bn contract for electrical connection
Egypt and Saudi Arabia have signed a $1.8 billion electricity interconnection project that aims to exchange some 3,000 MW during peak times.Mace, global construction firm, to build $4.3bn lifestyle project in Riyadh
Mace, the global construction company, will be working on a big lifestyle destination project in Riyadh, its developer Majid Al-Futtaim said.Dubai Expo ‘new city’ is here to stay for decades
Dubai has created a "new city" for Expo 2020 that will exist for decades, the head of the event said, promising most of the vast site will remain in use after the six-month world fair.Al-Rajhi Capital predicts Saudi oil revenues to touch $145.3bn at the end of 2021
Al-Rajhi Capital believes that Saudi oil revenues will touch $145.3 billion at the end of 2021, while total state revenues could go up to $246 billion. The assessment was made on the Saudi budget forecast released on Thursday.Saudi Arabia expects 2.7 percent budget deficit this year, 1.6 percent in 2022
Saudi Arabia expects to post a deficit of 2.7% of gross domestic product this year and to reduce it further next year, to 1.6% of GDP, it said in a preliminary budget statement for 2022.UN fund urges rich nations to pay $100bn a year in climate finance to poor countries
Rich countries must deliver on a promise to channel $100 billion a year in climate finance to developing nations, otherwise they may jeopardize November’s critical negotiations to limit global warming, said the head of the UN-backed Green Climate Fund.Dubai’s trade with Saudi Arabia leaps up 26 percent to AED30.5bn in H1
Trade between Dubai and Saudi Arabia grew 26 percent to AED30.5 billion in the first half of 2021, making the kingdom the emirate’s biggest trading partner in the Arab world.Shuaa Capital of UAE to hand over $2.7bn London property projects at year’s end
Shuaa Capital, the United Arab Emirates (UAE) based company, has said that it intends to fully complete and deliver the $2.7 billion worth of property projects in London through Northacre.Kuwait Fund’s $3.6bn development works earns it gratitude of Egyptian PM
Noting the wide contributions of the Kuwait Fund for Arab Economic Development (KFAED) to his country, the Prime Minister of Egypt, Mustafa Madbouli, has said that the Kuwait Fund was financing $3.6 billion worth of projects.Saudi CMA looks to double $213bn funds under its control
The Saudi Capital Market Authority (CMA) intends to double the $213 billion funds under its management.UAE allots $17.6bn to housing project for Emiratis in Dubai
Dubai ruler and prime minister of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum, has given approval for the allocation of $17.6 billion to a housing program for Emirati citizens in Dubai.Saudi Arabia saves $133.3bn in four years through budgetary discipline: Al-Jadaan
Saudi Arabia has succeeded in saving nearly $133.3 billion during the last four years by virtue of efficiency and budgetary discipline, according to the kingdom’s Finance Minister Mohammed Al-Jadaan.Saudi Arabia seeks to attract $5.3bn in investments in data and AI
Saudi Arabia aims to be one of the top 10 countries in the world in data and artificial intelligence, and in this direction the kingdom is has put 25,000 data and AI specialists through training.Saudi Arabia to spend $6.4bn in 15 years on waste recycling
Saudi Arabia will invest $6.4bn in waste recycling over the next fifteen years in order to move to a more sustainable waste management system.Saudi holdings of US treasury bills rose to $128.1bn in July
For the second month in a row, Saudi Arabia’s holding of US Treasury securities rose in July, touching $128.1 billion.Most of $3.8bn remittances to the Philippines in July came from Middle East
Filipinos living overseas have sent back some $3.8 billion in July with most of the remittances coming from the Middle East.ACWA Power of Saudi Arabia aims to raise $1.2bn through IPO
ACWA Power of Saudi Arabia intends to raise nearly $1.2 billion through Initial Public Offering (IPO), and in this regard it has set an indicative price range of the IPO.Saudi gang gets 20 years in prison for laundering $4.5bn
A Saudi court sentenced twenty four Saudis and foreigners to up to 20 years in prison for laundering nearly $4.50 billion. The criminal gang channeled illicit funds through factories, companies, institutions and medical clinics.Egypt’s exports leap up 49 percent to $3.61bn
Egypt’s exports recorded a nearly fifty percent jump to $3.61 billion in June 2021, as a compared to $2.94 billion in the same month last year, official data showed.UAE to spend $6.53bn to create 75,000 jobs
The United Arab Emirates (UAE) intends to spend some $6.53 billion over the next five years in order to create jobs for 75,000 Emiratis in the private sector.Bahrain’s digital transactions touch $3.62bn in H1
Bahrain’s central bank has revealed that cashless transactions in the country has surged 50 percent to $744 million in August, after reaching nearly $4 billion in the first half of the year.Egypt’s foreign reserves leap up to $40.67bn in July
Egypt's net foreign reserves have risen to $40.672 billion in August from $40.609 billion in July, the central bank said on Monday.UAE seeks $150bn in foreign investments, eyes stronger trade ties in Asia
The United Arab Emirates is seeking to lure $150 billion in foreign investments as part of a broad nine-year plan to strengthen its trade and economic ties in Asia and Africa.Four major UAE banks post $4bn net profit in first half
The combined net profit of four major banks in the United Arab Emirates has vaulted to $4 billion in the first half of 2021, up 17 percent compared to the same period last year.Work starts on Egypt’s $9bn high-speed train
Work began on Egypt's $9 billion first high-speed train project, connecting the Red Sea coast with the Mediterranean coast, across a length of 660 km, and at a cost of nearly $9 billion.Saudi net foreign assets dip by $4.4bn in July
Saudi Central Bank’s (SAMA) net foreign assets suffered a $4.4 billion drop in July, SAMA data showed on Sunday.Saudi exports leap up 40 percent to $6.2bn in June
Saudi non-oil exports recorded a 40 percent jump, the highest-ever monthly level, in June 2021, touching $6.2 billion.



















































