It will help customers to seamlessly process transfers.

Dubai, UAE-- In the month of May scores of airport developers, officials, and suppliers from around the world will troop into Dubai to participate in the world’s largest annual event dedicated to the airport industry. The 23rd edition of the three-day B2B event at the Dubai World Trade Centre (DWTC),...

Dubai, UAE -- Construction costs are set to increase in the UAE by 2-3 percent, and in Saudi Arabia by 5-7 percent in 2024, following an increase of 3 percent and 7 percent respectively in 2023. Increases will challenge construction firms, which will need to develop new processes and capabilities to...

The acquisition of the TV maker is worth $2.3 billion.

Doha, Qatar -- Qatar's Industrial Production index (IPI) in December 2023 reached 95.3 points, an increase of 3.9 percent compared to the previous month (November 2023), and decreased by 4.2 percent, when compared to the corresponding month in 2022. The Planning and Statistics Authority (PSA) has issued the press release...

ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce within the next 12 to 18 months, subject to three potential catalysts, CNBC reported, citing Citi analysts. Aakash Doshi, Citi’s North America head of commodities research, told CNBC that gold...

RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle. The sukuk are offered to qualified investors inside and outside Saudi Arabia.  The amount and terms of offer of the sukuk will be determined subject to market conditions, the bank said in a statement to Tadawul.   This announcement...

Beijing, China--China is moving away from traditionally energy-intensive industrial sectors toward green development across key sectors, in efforts to fulfill its goals of peaking carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060, according to China Central Television. In June 2023, the Hunan Valin Xiangtan Iron and Steel...

Its shareholders will own 60% of the combined company.

It plans to hike investments in the country to US$5 billion.

Its sales jumped 6% to US$27.2bn in half-year results.

Shenzen, China--The total number of high-tech enterprises in south China's Guangdong Province has exceeded 75,000, local authorities have said. By the end of 2023, the province's estimated annual research and development (R&D) expenditure topped 460 billion yuan (about 64.8 billion U.S. dollars), boasting 1.35 million R&D personnel and more than...

Riyadh, Saudi Arabia -- Saudi Arabia's open banking market is expected to expand from $7 billion in 2018 to around $43 billion by 2026, said Mohammed El-Kuwaiz, chairman of the Capital Market Authority (CMA) and the Financial Academy (FA) Board of Trustees. El-Kuwaiz announced this at the conclusion of the...

FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries Corporation (SABIC), began on Monday in east China's Fujian Province. The project, with a total investment of US$6.3 billion (44.8 billion yuan) from SABIC and Fujian Energy Petrochemical Group Co....

TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member states traded over US$5 billion (€4.7 billion) worth of goods in 2023. Trade between Iran and the member states of the European Union recorded a decrease of 9 percent from...

The company had reported net profit of $110 million in 2022.

ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT) on Monday announced the signing of a lease agreement for an automotive aluminum component manufacturing facility. The 30,000 square meters advanced manufacturing facility for APT in KEZAD will be strategically...

Zamil is one of the largest offshore support vessel operators.

Bustanica is the world's largest indoor vertical farm.

DUBAI, UAE – The airport here has "every chance" of breaking its record for passenger traffic this year after surpassing pre-pandemic levels in 2023, Dubai Airports' CEO told AFP on Monday. Dubai International, the world's busiest airport for international passengers for nearly a decade, hit 87 million visits in 2023, beating...

The bank appointed Dr Al Saadi as Sharia Supervisory Committee member.

SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss points to be raised on the policy of Sharjah Commerce and Tourism Development Authority (SCTDA), during the next session. A number of key issues related to stimulating economic growth and...

Its next-generation console will be delayed until 2025.

Doha, Qatar--The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in January amounted to $521 million. The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that (362) real estate transactions were recorded...

Its gross profit jumped 3.1% to US$137.25m in 2023.

The rise was due to the hospitals and pharmacy segments.

Riyadh, Saudi Arabia-- Saudi Arabia is exploring investment opportunities in education and aiming to attract investments to the kingdom from Canada. In this connection, the Saudi Minister of Education, Yousef bin Abdullah Al-Benyan, along with the accompanying education delegation, visited several educational institutions and universities in Canada, where he met...

BEIRUT, LEBANON - A Lebanese judge has charged four Nissan employees with the theft of documents and devices from the Beirut home and office of the company's former boss Carlos Ghosn, a judicial source said on Saturday. A lawyer for the company told AFP the legal action was "unlawful" and that...

EDF cut its large debt by increasing nuclear production.

"The weakness of yesterday's US retail sales release have given market doves a new lease of life and allowed them to refocus on the likelihood of an early Fed rate cut," Rabobank analyst Jane Foley told AFP.

The company posted a 13 percent rise in net profit for 2023.

The British bank's net profit jumped to US$5.5bn in 2023.

The global pipe maker invested US$60m in the business.

TUNIS, TUNISIA -  President Kais Saied on Thursday appointed a new governor of the central bank of Tunisia, a north African country in the throes of economic hardship. Saied named Fethi Zouhair Nouri, a 69-year-old member of the central bank's board, to succeed Marouane Abassi, 64, whose six-year mandate ends on...

The annual net profit in 2022 was US$470 million.

QEWC market share in supply of electricity was 61 percent.

The new hub part of a trend for big tech firms to base teams in European centers.

This is the bank's biggest net profit in 15 years.

"As the IEA celebrates its 50th anniversary this week, oil supply security remains as critical as ever," said the agency created half a century ago by the OECD to help rich countries weather the 1970s oil crisis which wreaked widespread economic havoc. "Given heightened geopolitical risks and low global oil...

The company reported a net profit of $204 million.

Doha, Qatar -- UCC Holding, a Qatari company, has signed two energy contracts for seven projects in Kazakhstan. The first contract with QazaqGas comprises two gas treatment plants:1 BCMA Gas Processing Plant Project and 2.5 BCMA and the construction of a New Compressor Station CS-14 and Main Gas Pipeline CS-14...

Revenue growth driven by ports, logistics, and digital clusters.

Jeddah, UAE--The Arab Tourism Organization (ATO) has signed a partnership agreement with the International Strategic Management (ISM) company to achieve growth and innovation within the tourism sector in Arab countries. The agreement comes as an extension of the ATO’s efforts to develop and enhance the tourism industry in the Arab...

The leaders of Australia, Canada and New Zealand on Thursday warned Israel against a potentially "catastrophic" ground offensive in the southern Gazan city of Rafah, amplifying a growing chorus of international concern. Urging Prime Minister Benjamin Netanyahu "not to go down this path", the trio of Commonwealth nations issued a...

The group plans to deliver "around 800" aircraft in 2024.

Dubai, UAE-- The World Governments Summit (WGS) has ushered in a new decade of positive impact, inspiring governments and societies to join the global community in its ongoing journey to shape the future, according to Hamid Al Zaabi, Director-General of the Executive Office for Anti-Money Laundering and Counter Terrorism Financing...

Its revenue jumped 41% to US$748 million in 2023.

Nearly 5% of its workforce will be hit by the cuts.

"Demand for natural gas has already peaked in some regions but continues to rise globally, with LNG demand expected to reach around 625-685 million tons a year in 2040, according to the latest industry estimates," Shell said in a report.

The JV is expected to be completed in the second half of 2024.