The US aluminum producer will buy Alumina for US$2.2bn.

Abu Dhabi, UAE-- Applauding the UAE's commitment to trade liberalization, including development of green and digital trade globally, Ralph Ossa, Chief Economist at the World Trade Organization (WTO), said the country's focus on low tariffs, export diversification, and active participation in the multilateral trading system demonstrates its commitment to free...

The World Trade Organization's 13th ministerial conference (MC13), scheduled to run until Thursday in Abu Dhabi, the capital of the United Arab Emirates, is the first in two years. The WTO is hoping for progress, particularly on fishing, agriculture and electronic commerce.

Beijing, China--China's commercial vehicle sales soared 79.6 percent year on year to 324,000 units in January, according to industry data. Specifically, some 289,000 trucks were sold during this period, a surge of 81.8 percent year on year, according to the China Association of Automobile Manufacturers. A total of 35,000 coaches...

ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund to help female entrepreneurs in developing countries to export more using the opportunities offered by the digital economy. The announcement came ahead of the 13th ministerial conference of the WTO...

Abu Dhabi, UAE -- The Abu Dhabi Session of the Parliamentary Conference on the World Trade Organization (PCWTO) was inaugurated Sunday by Saqr Ghobash, Speaker of the Federal National Council (FNC). The conference was organized by the FNC in cooperation with the Inter-Parliamentary Union (IPU) and the European Parliament (EP),...

Dubai, UAE -– Customs declarations processed by the Inland Customs Centers Management of Dubai Customs increased by 44 percent, reaching 1.13 million customs declarations in 2023, compared to 790 thousand declarations in 2022. The total number of inspections for goods and travelers amounted to 198,478. The cleared goods' total weight...

ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al Bahrain company aims to create expansive mixed-use projects, offering diverse residential, commercial and entertainment opportunities designed to elevate the overall local community experience. The JV was set up by an...

WASHINGTON, US  - In a shift from tit-for-tat tariffs and strong-arm tactics to tech restrictions and investment curbs, US policy towards China has become more targeted under President Joe Biden - though still hardline. Despite differences between Democrats and Republicans, analysts expect Washington's approach to Beijing will only become tougher, whether...

At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years to India's Petronet, with the first deliveries expected from May 2028. QatarEnergy in January announced a deal with US-based Excelerate Energy to supply Bangladesh with 1.5 million tonnes of LNG...

With most banks out of service, the only exchange rate that matters to ordinary Sudanese is on the black market, where the dollar currently goes for around 1,200 Sudanese pounds. To make matters worse, a communications blackout since early February has hampered online transactions -- which Sudanese relied on to...

Manama, Bahrain--Bahrain will support Arab tourism in order to enhance social, cultural and historical integration among Arab people, according to Fatima bin Jaafar Al Sairafi, Bahrain's Minister of Tourism. According to the minister, this would raise the contribution of the tourism sector to Arab countries’ national development. In a statement...

AMMAN, JORDAN – Jordan Chamber of Commerce (JCC) and Oman Chamber of Commerce and Industry on Saturday discussed enhanced cooperation and investment partnership.The two sides pledged during a meeting to forge robust commercial relations, remove hindrances, reactivate bilateral agreements, exchange more visits by economic teams and hold joint exhibitions.Participants stressed...

Jim Ratcliffe is the co-owner of the Manchester United.

The tech-rich Nasdaq slipped by 0.3 percent to 15,996.82 -- a day after surging by 3.0 percent following strong earnings results from chipmaker Nvidia. Amid individual firms, car sales company Carvana's share price surged more than 32 percent after it reported its first ever annual profit.

The first American spaceship on the Moon since Apollo is "alive and well" following a drama-packed touchdown, the firm that built it said as it worked to download data and images from the uncrewed robot. "Odysseus is alive and well," Intuitive Machines, which achieved the first lunar landing by a...

ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion (AED481.5 billion) by the end of November 2023 compared to US$114.6 (AED424.9 billion) at the end of the same period of 2022, according to the Central Bank of the UAE's...

DOHA, QATAR  - The volume of real estate trading in the country in sales contracts at the Department of Real Estate Registration at the Ministry of Justice during the period from February 11 to February 15 2024 reached US$66 million (QR 242,019,892). Total sales contracts for residential units in the...

Barcelona, Spain - The world's biggest mobile phone fair throws open its doors in Barcelona Monday with the sector looking to artificial intelligence to try and reverse declining sales. Phone makers are expected to focus on the unique AI-powered tools of their latest handsets at the four-day Mobile World Congress in...

Madbouly said the investment would "contribute to resolving" a hard currency crunch which has threatened Egypt's ability to service its large foreign debt and allow it end separate official and black market exchange rates for the Egyptian pound.

LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost three years as mild winter weather continues and European stockpiles hold up. Mid-morning on Friday, the benchmark Dutch TTF futures contract was down 3.2 percent at US$24.3 (22.45 euros) a...

Abu Dhabi, UAE -- The United Arab Emirates and Kenya have concluded negotiations on a Comprehensive Economic Partnership Agreement that will secure vital East and West supply chains, spur investment into priority sectors, and enhance market access for businesses on both sides. The CEPA will have significant positive impact on...

ABU DHABI, UAE – The Registration Authority (RA) of Abu Dhabi Global Market has fined Baker Tilly Middle East Limited (Baker Tilly) and its registered audit principal Neil Andrew Sturgeon (Sturgeon), an ADGM media release said on Friday. The RA imposed a financial penalty of US$50,000 against Baker Tilly and...

Riyadh, Saudi Arabia -- The Public Investment Fund (PIF) intends to acquire a stake in Saudi Binladin Group (SBG), Bloomberg reported, citing sources with knowledge of the matter.  The fund is working with Morgan Stanley on the potential deal to buy into SBG, Argaam reported, citing reports.  The PIF is...

Doha, Qatar--The Qatar Chamber (QC) and the International Labor Organization (ILO) discussed bilateral cooperation relations in the fields of labor, research, training, and ways to achieve the common interest of business owners and workers. This came during the meeting of Acting General Manager of the Qatar Chamber Ali Bu Sherbak...

Beijing, China--Major Chinese cities reported falling home prices in January with narrowing declines, official data showed on Friday. The National Bureau of Statistics reported that 56 of 70 large and medium-sized cities saw month-on-month drops in new home prices, down from 62 in December 2023. Additionally, 68 such cities registered...

Dubai, UAE-- The economy of Dubai would grow around five percent this year, according to Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers. Speaking to the media on the sidelines of the annual media briefing organised by Dubai Chambers, Al Ghurair said that the recent increase in interest rates...

High interest rates benefitted the British lender and banking sector as a whole.

Hong Kong, China - Asian markets rose on Thursday, with Tokyo's benchmark index posting a record high after greater-than-expected earnings from US chip giant Nvidia. Highly anticipated earnings results from Nvidia beat expectations late Wednesday, with the firm reporting a quarterly profit of $12.3 billion on record-high revenue driven by demand...

The engine maker swung to profit of $3bn from a loss of $1.64bn in 2022.

This is the carrier's strongest-ever performance.

TIH is the fifth largest insurance broker in the United States.

The company signed MoU with Airbus for the widebody aircraft.

Sales grew 7.2% in value terms, fell 0.3% in volume.

Manama, Bahrain--Central Bank of Bahrain (CBB) announces that the $93 million monthly issue of Government Treasury Bills has been oversubscribed by 226%. The bills, carrying maturity of 182 days, are issued by the CBB, on behalf of the Kingdom of Bahrain. The issue date of the bills is February 25...

Its net profit dropped 13.2% to US$570 million.

The profit jumped to US$41.40m in 2023.

The company's revenue spiked to US$22.1bn.

It will collaborate with Abu Dhabi Investment Office.

Riyadh, Saudi Arabia - Saudi Arabia's trade surplus remained stable at SR97 billion ($25.8 billion) in the fourth quarter of 2023 sustaining a level comparable to the previous quarter. According to recent data from the General Authority for Statistics (GASTAT), the trade surplus in December 2023 was SR39 billion ($10.4...

Operating profit for 2023 was recorded at US$59 million.

Paris, France -- US firm OpenAI debuted a tool last week that can generate highly realistic snippets of video from just a few lines of text, leading content creators to wonder if they are the latest professionals about to be replaced by algorithms. Reactions to the tool, called Sora, have ranged...

Abu Dhabi, UAE -- EDGE, an advanced technology and defense groups, and Fincantieri, one of the largest shipbuilding companies in the world, have agreed to create a joint venture (JV) to capitalize on global shipbuilding opportunities with a focus on the manufacturing of a broad range of sophisticated naval vessels....

Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve that could shed fresh light on the outlook for interest rates. Wall Street shares fell at the opening bell, with downbeat guidance from other tech companies dampening the mood ahead...

The company said lower energy prices cut into its profits.

DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and Beverage (F&B) companies joined Dubai Chamber of Commerce in 2023, representing year-over-year growth of 19.4 percent. The total number of F&B companies registered with Dubai Chamber of Commerce – one...

e& said the net profit is a growth of 3 percent year-over-year.

The company's  Q4 2023 net profit surged 23%.

In December, oil exports fell by SAR 13.5 billion or 15.8% to SAR 72 billion ($19 billion) from SAR 85.5 billion in December 2022. The share of oil exports in total exports decreased from 78.4 percent in December 2022 to 73.1 percent in December 2023.

The bank would initiate a share buyback of up to US$2 billion.