The two ministers also talked about the progress in the electrical interconnection efforts.

Helsinki, Finland— Saudi Arabia and Finland have signed an agreement to regulate air transport and start air services between the two countries. The agreement is designed to propel economic partnership and boost trade. In this connection, the General Authority of Civil Aviation (GACA) of the Kingdom of Saudi Arabia and...

The telecom company's net profit vaulted to $680.5m in Q3.

The German delegation comprised companies working in the areas of water, training, education, infrastructure, industries, constructions and innovation.

Dubai, UAE— Dubai has begun to give out multiple-entry tourist visa for "Hayya cardholders" traveling to Doha for the World Cup this month. In this regard, Dubai's General Directorate of Residency and Foreigners Affairs (GDRFA)  issued the first 90-day multiple-entry tourist visa to Mohammed Jalal, a Jordanian football fan. This...

Under Sanchez, Qatar have already caused a major surprise once at a major tournament in the Middle East, beating Japan to take the Asian Cup in 2019.

Abu Dhabi, represented by Abu Dhabi's Department of Municipalities and Transport, and Bishkek City have signed a twinning agreement to strengthen cooperation between the two cities and further enhance relations between the UAE and the Kyrgyz Republic.

UAE Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met with Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF) Dr. Jihad Azour.

Global stock markets rose as traders looked to the US Federal Reserve's interest rate decision hoping it will signal a more dovish approach to fighting inflation. The Fed is widely expected Wednesday to announce a fourth straight 75-basis-point rate hike leading to worries it will tip the world's top economy...

Tripoli, Libya---Libya is aiming to nearly double its oil output to two million barrels per day by 2027, the head of its National Oil Company has said. "We're working on raising production to two million barrels per day in the next three to five years," Farhat Bengdara said in an...

Pact aims to expand railway solutions, technology in region.

The Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a US$10 million (AED36.7 million) line-of-credit agreement with the National Bank of Iraq (NBI), part of the Capital Bank Group.

After changing his Twitter bio to "Chief Twit," Musk reportedly worked over the weekend with software engineers from Tesla to look under the hood of the one-to-many messaging platform, and on planning massive layoffs.

Riyadh, Saudi Arabia—Saudi Arabia has issued permits for non-oil industrial projects worth $1.1 billion in August. The licenses issued in August were for chemicals, metals, machinery, furniture, home appliances and other light-medium products. Around 115 licenses were issued for non-oil industrial projects — 20 percent higher than those issued in...

The net profit for the first nine months of 2022 was $104m.

BP, flush with cash, revealed a $2.5 billion share buyback.

It posted $863.17m in revenues for the first nine months of 2022.

The third quarters profits were boosted by higher oil prices.

Tokyo, Japan— Toyota kept its annual net profit forecast unchanged on Tuesday, as the weaker yen offsets supply-chain disruptions that have forced the Japanese car giant to slash production targets. The world's top-selling automaker said it now expects to sell half a million fewer vehicles in the current financial year because...

More than a year after it took power, Taliban has failed to curb opium poppy cultivation in the country as production and exports have boomed. According to the UN's drugs agency the poppy cultivation has gone up by a third despite the Taliban's ban in April on the cultivation.

Riyadh, Saudi Arabia— Egypt's Sovereign Fund has accumulated assets worth $621-660 million as it seeks to double it by the same size next year. The CEO of the fund, Ayman Soliman, said that the issued capital of the fund has been fully covered at $5 billion. The fund's financing sources,...

The UAE is China’s most important trade partner in the Arab world and responsible for 28 per cent of total non-oil trade between China and the region. The region’s second largest economy is also home to thousands of Chinese firms.

Several factors are at play when it comes to strengthening relations between GCC and Asian countries. TRENDS looks at all of them and gives them a perspective.

The war raging in Ukraine and other overlapping crises are taking a toll on labor markets worldwide, the UN said, suggesting a "sharp" slowdown was already underway. In a fresh report, the International Labor Organization said the outlook for global labor markets has deteriorated in recent months. ILO warned that...

Saudi government policies like 15 percent VAT exemption on real estate deals and affordable housing programs are boosting residential real estate.

Saudi Arabia and the United Arab Emirates said the world needs to keep investing in oil production, just days before the COP27 climate summit aimed at curbing global warming. Sultan Al Jaber, the head of UAE oil giant ADNOC, warned that under-investment could cause a shock to the world economy.

ABU DHABI, UAE - President Sheikh Mohamed bin Zayed Al Nahyan Monday received President of the Kyrgyz Republic Sadyr Japarov, who is on a working visit to the UAE. During their meeting, which took place at Al Shati Palace, President Sheikh Mohamed welcomed the President of Kyrgyzstan and hoped the...

DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority Saeed Mohammed Al Tayer said DEWA had added 300 megawatts of photovoltaic solar energy in 2022 from the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park using the Independent Power Producer (IPP) model. The Solar...

The bank’s profit for the nine-month period peaked at $719m.

Abu Dhabi, UAE--- Abu Dhabi National Oil Company (ADNOC) announced on Monday that it has set a new Upstream Methane Intensity target of 0.15 percent by 2025, which is the lowest in the Middle East. ADNOC’s 0.15 percent methane intensity target means ADNOC will be ranked in the Gold Standard...

With prices falling and ports clogged with liquefied natural gas tankers, fears of a winter heating crisis in Europe have eased but experts are warning against complacency. For over a week now, there have been bottlenecks at Spanish ports of ships bringing in LNG, indicating Europe is at full capacity.

As per estimates by the General Authority for Statistics (GASTAT), real Gross Domestic Product (GDP) of Saudi Arabia grew by 8.6 percent in the third quarter of 2022 compared to the same period in 2021.

The total offering size expected between $357m and $362m.

Years of strict pandemic controls and a political crackdown have hammered the Asian finance hub's economy and sparked an exodus of talent authorities say they now want to reverse.

The scale of the loss can be gauged from the fact it is slightly more than the annual economic output of Morocco ($132 billion).

Dubai school operator plans to expand its network.

Doha, Qatar— Qatar and Azerbaijan have decided to enhance relations in the fields of energy and trade and in this regard Qatar Chamber and the SMEs Business Development Agency of the Republic of Azerbaijan signed on Sunday a memorandum of understanding (MoU) to establish the Qatar-Azerbaijan Joint Business Council. Speaking...

The Purchasing Managers' Index (PMI) -- a key gauge of manufacturing in the world's second-biggest economy -- came in at 49.2, down from September's 50.1 and below the 50-point mark separating growth from contraction, according to data from the National Bureau of Statistics (NBS).

It recorded $173m profit in the first nine months of 2022.

In order to help football fans who lose their passport or get arrested, Qatar has opened a World Cup consular facility, a first of its kind at a major sporting event. More than 40 countries will have offices in the Doha Exhibition and Convention Center alongside the police, interior ministry...

The company had reported a net profit of $12.27mn for H1.

Energy security, enhancing partnerships were discussed.

Project is part of the world's biggest natural gas reserves.

Compared to $271.7m in 2021, the net income at Sept end was $405.8m.

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has commissioned 389 11kV substations in Dubai in the third quarter of 2022. This is part of its efforts to deliver state-of-the-art infrastructure according to the highest international standards. These stations are mainly located at Wadi Al Safa Fifth, Al Merkad,...

The conference attempts to bring together start-ups, investors, business leaders and agenda-broadening speakers –- linguist Noam Chomsky and heavyweight boxing champion Oleksandr Usyk are among this year's intake. The organizers say more than 1,000 speakers will take part, giving talks on subjects from cybersecurity to artificial intelligence.

Saudi Arabia's Ministry of Industry and Mineral Resources announced that Saudi Arabian Mining Company Ma'aden and Barrick Gold Ltd alliance have obtained a license to explore the mining site of Umm al-Damar.

Sharjah, UAE— Sharjah Taxi intends to increase the number of its hybrid cars running on both fuel and electricity. The decision is in line with the Emirate’s vision to rationalize the use of energy, in accordance with its development goals and agenda. The company had previously completed hybrid vehicle conversions...

Riyadh, Saudi Arabia— Foreign companies will be able to obtain approval for dual listing on the Saudi market, according to Tadawul’s CEO. Mohammed Al-Rumaih told media that companies need finance to expand in particular industries, noting that the capital market aims to be the first partner to provide finance for...

Riyadh, Saudi Arabia—The stage is set for the Arab Broadcasting Festival to begin next month in Riyadh as preparations have nearly been completed for the event. President of the Arab States Broadcasting Union (ASBU) and CEO of Saudi Broadcasting Authority, Mohammad bin Fahd Al-Harithi, announced the completion of the ongoing...