Major oil producers led by Saudi Arabia and Russia on Thursday decided to open taps wider than expected amid soaring prices and hard on the heels of an EU ban on Russian oil imports. Analysts had expected OPEC+ producers to stick to their policy of modest output increases, as they...

In April the company announced it will acquire two LNG vessels.

Kuwait's export of crude oil to Japan has climbed 7.6 percent to 6.61 million barrels, or 220,000 barrels per day (bpd), up for the second straight month, government data showed Tuesday. 

dnata, global air and travel services provider, announced that it would invest $100 million in green operations in the next two years to further enhance environmental efficiency across its global network. The company’s ongoing investment in infrastructure, equipment and process improvement will support it to achieve its strategic objectives and...

The Free Zone announces this at Seamless Middle East 2022.

The cooperation seeks to transform Qatar into an advanced economic and industrial hub by enhancing its international connections network.

Asaad Qawasmi, the Jordan Chamber of Commerce's representative for the apparel, fabrics, footwear, and jewelry sector, said that demand has plateaued since the Eid Al-Fitr.

With billions of dollars in financial reserves and money still coming in from oil and gas exports, Russia has yet to feel the full impact of the barrage of Western sanctions imposed over its offensive in Ukraine.

The Emirates Development Bank (EDB) has teamed up with the Hamriyah Free Zone in Sharjah and the Sharjah Airport International Free Zone (SAIF) to provide financial support to small and medium-sized enterprises (SMEs) and startups operating in the free zones.

The deal has been listed on the London Stock Exchange.

Iraq's State Organization for Marketing of Oil (SOMO) has said it approached France about the possibility of Iraq's supplying the European market with oil. The Organization's General Manager Alaa Al-Yasiri said that French parties concerned with the possibility of being supplied with oil have been addressed but gave no further...

The Dubai Building Permit Development Committee has completed the unified electronic platform for building permits, which includes building permit services of all licensing authorities in Dubai. The platform is set to provide distinguished services to consultancy offices and contracting companies, an official statement said. The statement said that the committee,...

A new classification system for companies in the private sector came into force on Wednesday, according to the Ministry of Human Resources and Emiratisation (MOHRE)

Casinos often prefer to close their eyes to how clients finance their bets, allowing their tables to become conduits for illegal activity, according to Maira Martini of anti-corruption watchdog Transparency International.

De Grisogono SA, a Swiss luxury jeweler filed for bankruptcy in 2020.

The global shortage of critical semiconductors is likely to last at least through next year and perhaps longer, US Commerce Secretary Gina Raimondo warned on Tuesday.

Jordan's oil bill went up by 49.1 percent in Q1 2022, compared to the same period in 2021, the Department of Statistics (DoS) said Monday. The report said the value of the oil bill in Q1 2022 increased to JD761 million compared to JD510 million in the same period of...

Germany hit the highest level of inflation in 50 years due to a rise in the cost of living, energy, and foodstuff prices. The data provided by the Federal Statistical Office of Germany indicate that levels of inflation reached 7.9 percent in May 2022. The inflation rate is calculated by...

Saudi Arabia and Seychelles will form a partnership to boost cooperation and exchange expertize in tourism sector which includes planning, investment, and developing tourism sites and projects. Saudi’s tourism ministry signed an MoU with the Ministry of Foreign Affairs and Tourism of Seychelles regarding the same. The MoU aims at...

Firms must have a specific and clear target list. What applies to real estate won't necessarily succeed in the automotive sector, 199X MD Khaled El Masry tells TRENDS.

ADNOC and its partner Borealis AG have announced the completion of bookbuild and public subscription for the IPO of Borouge, which is their petrochemicals joint venture, on the Abu Dhabi Securities Exchange (ADX). The offering of 3,005,769,158 ordinary shares (Offer Shares), equivalent to 10 percent of total issued share capital,...

The Group's revenue was AED 169.4 bn, up 24.5 percent.

Major French companies have expressed their interest in accessing the Saudi market and investing in the tourism and entertainment market at a time the kingdom’s focus on these sectors has become an important part of its transformative Vision 2030. These remarks were made at a meeting between the Federation of...

Iraq seeks to enhance economic and commercial relations with the international community, said Hamid Al-Ghazi, the Iraqi Secretary-General of the Council of Ministers.

European Union leaders have agreed to ban more than two-thirds of Russian oil imports, tightening economic screws on the country even as Moscow's forces press their offensive in Ukraine's eastern Donbas region. The compromise deal reached late Monday, meant to punish Russia for its invasion three months ago, cuts "a...

The Chairman of the GCC Negotiating Team, Abdulrahman bin Ahmed Al-Harbi, stressed the importance of pursuing negotiations with Pakistan.

The US central bank needs to keep raising interest rates in big steps until inflation starts to come down, Federal Reserve Governor Christopher Waller said Monday. The Fed early this month announced the biggest increase in the benchmark interest rate since 2000, following a smaller hike in March, as it...

Qatar’s Export Unit Value Index (EXUVI) has increased by 61.05 percent  in Q1 2022 compared to Q1 2021. The Planning and Statistics Authority (PSA) released its Quarterly EXUVI for Q1 2022 as a new chain is added to statistical indicators calculated by PSA. The addition is as per the policy...

The Abu Dhabi Global Market (ADGM) has invited public feedback on the proposed amendments to its commercial legislation. As part of ADGM’s ongoing enhancement of regulatory framework, its Registration Authority (RA) is proposing changes, including the introduction of a late filing fees framework. Rather than attracting a penalty, certain late...

The drop is being created in partnership with NFT artist Kristel Bechara.

Mercedes team chief Toto Wolff on Sunday hinted at what may be needed for the under-threat Monaco Grand Prix to retain its place on the Formula One race calendar.

Public Investment Fund’s stake purchase in Kingdom Holding is part of the Saudi Arabia’s Vision 2030, Arun Leslie John, Chief Market Analyst, Century Financial, tells TRENDS

The shipment value of cargo trains of the Saudi Railway Company (SAR) has increased by 25 percent at the end of Q1 2022, compared to Q1 2021. The trains transported in excess of 5.5 million tons of minerals and goods, which reflects SAR’s role in enhancing national industries and logistics...

The Federation of Saudi Chambers, represented by the Saudi-French Business Council, will host a key French delegation representing the entertainment sector, on Monday. It is likely to discuss prospects of the Saudi-French cooperation in the entertainment sector and relevant fields and address means to enhance investments. This also includes commercial...

A Dubai Government delegation that visited Dubai Customs was briefed about the department’s experience in budgeting, internal control, and best practices in future foresight and government innovation. Through these visits, Dubai Customs supports its strategic relationships with its partners and builds effective, value-added relationships that contribute to enhancing the corporate...

Qatar First Bank (QFB) has announced the successful exit of Jefferson Square, its first syndicated real estate investment located in the heart of Baltimore, Maryland, USA. QFB acquired Jefferson Square, a class A multifamily residential building, in June 2017 as part of its Sharia compliant real estate investment program, Qatari...

Although Turkey has become the leading importer of European plastic waste after China banned imports in 2018 but according to expert only 20 to 30 percent of imported plastic waste is recyclable.

It was a week of mixed fortunes for various stock exchanges of the GCC, with TASI remaining flat through the week, even as Abu Dhabi's index began posting gains on Frdiay.

Two billion dollars are allocated in the budget for Baghdad Metro project, Iraq’s Minister of Transport Nasser Hussein Al-Shibli said on Saturday. "The project was included in the budget for the year 2022, and an amount of two billion dollars was allocated by the Ministry of Finance and the ministry...

Deals worth over AED 25 million ($6.8m) were signed in the Gulf Print and Pack 2022 event (GPP) held at the Dubai World Trade Center, as it ended on a high this week.

The UAE and US economic ties are expected to grow in healthcare, energy sustainability, space, and digital economy, with the bilateral trade touching $22 billion between the two countries.

The kingdom eyes over 70 million visitors this year as the country jumps from 43rd to 33rd spot on the global tourism ranking, says Saudi Arabia's assistant tourism minister.

The firm was established by ADQ and Chimera Investment.

Dubai has recorded 2,884 real estate and properties transactions at the value of AED8.7 billion ($2.36 billion) in total during the week ending 27 May 2022, according to Dubai Land Department (DLD). The DLD weekly report said that 297 plots were sold for AED1.59 billion, as well as 2,116 apartments...

The Gulf Print and Pack (GPP) 2022 concluded at the Dubai World Trade Centre, recording deals worth more than AED 25 million. GPP organisers said the decision to move from a four-day show in past editions to a three-day event in 2022 was vindicated with daily attendance increasing by 15...

The firm, a subsidiary of IHC, acquired the vessels for AED246m.

Saudi Arabia's coach Herve Renard has signed a new five-year deal after guiding the team to this year's World Cup in Qatar, football officials announced on Friday.

The program provides big support to local, regional and international film producers to shoot their works inside Saudi Arabia.

With the entry of Cloudflare, a top-rated American content delivery network, into its rapidly expanding zone, Dubai Internet City has entrenched its position as a preferred hub for new economy companies in the region.

The CPPI is an indicator produced by the Transport Global Practice of the World Bank.