Doha, Qatar -- Qatar has recorded real estate transactions worth 378 million QR ($100 million) during the 21-25 Jan 2024 period, according to the emirate's Department of Real Estate Registration at the Ministry of Justice. Also, total sales contracts for residential units for the same period were QR 21.36 million,...

DOHA, QATAR - The Qatar Central Bank issued treasury bills and sukuk with maturities of one week, one month, three months, six months and nine months totaling US$686 million (QR 2.5 billion). In a statement posted on the social media platform "X" on Thursday, QCB said that the issuance was...

Dubai, UAE -- Dubai recorded real estate transactions valued at AED 11.5 billion ($3.13 billion) during the week ending 2 Feb 2024. The sum of transactions was 3,677. A total of 192 plots were sold for AED 2.61 billion, 2,699 apartments and villas were sold for AED 5.75 billion. The...

The bank said it would buy back shares and pay dividends.

The company said it posted a net profit of US$227.4 million.

Abu Dhabi, UAE--Despite geopolitical uncertainties and potential economic headwinds, S&P Global expects GCC banks to maintain their well-capitalised, profitable, and liquid status. S&P Global‘s ‘GCC Banking Sector Outlook 2024’ reveals a challenging yet optimistic perspective. The ratings agency anticipates overall stability in key metrics for GCC banks in 2024. Credit...

But its sales in China dropped during October to December.

New York, United States - Wall Street stocks rose early Thursday, rebounding from the prior session's pullback as markets awaited more big tech earnings later in the day. Major indices had tumbled on Wednesday after Federal Reserve Chair Jerome Powell dampened expectations for an imminent cut in interest rates. Adam Sarhan...

The United States approved a $4 billion sale of state-of-the-art drones to India, offering a new edge to the growing US partner. The sale marks a milestone in Indian purchases of American weapons after New Delhi's reliance on weapons from Russia, which have been increasingly controversial due to sanctions over...

DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire population is expected to rise by 85 percent over the next 10 years, a report said.   There are currently 1.6 million individuals with investable assets of over US$1 million...

In an effort to shore up prices, the OPEC+ oil alliance of 23 nations has implemented supply cuts of more than five million barrels per day (bpd) since the end of 2022. Oil prices were up slightly on Thursday and hovering around $80 per barrel.

ABU DHABI, UAE - Abu Dhabi University (ADU) has signed a Memorandum of Understanding with the Italy-Czech Republic Chamber of Commerce (CCIRC) to elevate research efforts in academia. The MoU - signed by Dr. Hamad Odhabi, Vice Chancellor of Financial and Administration Affairs at ADU, and Antonio Rotondo, Chairman of...

ABU DHABI, UAE - Madrid wants the upcoming 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) here next month to address the potential challenges of de-globalization and its impacts on global supply chains, Minister of State for Trade of Spain Xiana Mendez said. “The main challenges we may...

Riyadh, Saudi Arabia -- Foreign Direct Investment inflows into Saudi Arabia hit SAR 17 billion in the third quarter of 2023, a decrease of 14.4 percent compared to the second quarter, the Kingdom's General Authority for Statistics (GASTAT) said. The total FDI outflows reached SAR 5 billion, a decrease of...

Abu Dhabi, UAE -- Real estate transactions in the Emirate of Abu Dhabi amounted to over AED 5 billion ($1.36 billion) in the first month of 2024, comprising 1,386 transactions of sales and mortgages on various types of real estate units. According to the "DARI" platform, affiliated with the Department...

Its revenue dived almost a fifth percent to US$316.6 billion.

Banking arm asked to stop accepting fresh deposits.

The firm posted third consecutive rise in quarterly earnings.

Abu Dhabi, UAE--In a significant move that underscores the interconnectedness of global monetary policies, central banks across the Gulf Cooperation Council (GCC) have announced decisions to hold their interest rates steady, mirroring the recent actions of the US Federal Reserve. This collective stance reflects a cautious approach to navigating the...

Manama, Bahrain - The Digital Cooperation Organization (DCO), a global intergovernmental organization dedicated to fostering digital prosperity for all by accelerating the inclusive growth of the global digital economy, has announced the launch of new initiatives to bridge the global digital divide. The DCO Council also announced the joining of...

Geneva, Switzerland-- Air cargo demand rebounded in 2023 with a particularly strong fourth quarter performance despite economic uncertainties, according to new data for global air-freight market released by the International Air Transport Association (IATA). As per the new data full-year demand reached a level just slightly below 2022 and 2019....

With inflation up at 35 percent, and amid a severe foreign currency crunch, the Egyptian pound is plunging and the US dollar has become hard to come by. The country's highly import-reliant economy, dominated by military-linked enterprises and with a fondness for infrastructure mega-projects, has been hit hard by a...

Abu Dhabi, UAE-- The UAE economy is projected to grow by 5.7% in 2024 despite prevailing global economic challenges, including global economic slowdown and difficult financial conditions, according to Younis Haji Al Khoori, Undersecretary of the Ministry of Finance (MoF). Speaking to a media outlet, he said, "Our efforts to...

The drug maker said revenues swelled 3 percent to $38.54bn.

"Markets are eagerly anticipating today's meeting from the Federal Reserve with traders looking for signs over whether a March rate cut is plausible," said Joshua Mahony, chief market analyst at Scope Markets.

Geneva, Switzerland -- Middle Eastern carriers reported a 1.6 percent increase for global and international demand in 2023 compared to 2022 and an increase in capacity of 13.5 percent (13.6 percent for international operations), the International Air Transport Association (IATA) said. In December, airlines in the region posted an 18.3 percent increase in...

The bank has proposed record cash dividend of 44.38 fils per share.

The four engineering, installation and procurement contracts will increase production at the Al-Shaheen oilfield -- the country's largest -- by 100,000 barrels per day, according to QatarEnergy. "By awarding these contracts, we are taking an important step towards realizing the full potential of Al-Shaheen field, which produces around half of...

The company recorded its highest-ever revenue of AED 2.2 billion.

The company said sales leaped to $62 billion in Q3.

Alphabet reported a profit of $20.7 billion.

In recent years, China's auto sector has grown remarkably largely because of massive investments in electric cars, an area where Japanese firms have been more cautious. The JAMA figures showed that Japan shipped 4.42 million vehicles in 2023, compared with 4.91 million exported by China, as reported by China's automobile...

Its board has proposed a cash dividend of US$76.24m.

Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri, Minister of Economy, recently met with Greg Hands, British Minister of State (Department for Business, Energy Industrial Strategy). The bilateral meeting explored new opportunities for economic and investment cooperation, as...

Its operating profit for Q4 was US$2.1bn.

Oslo, Norway - Norway's sovereign wealth fund, the world's biggest, said Tuesday it raked in a record profit of 2.2 trillion kroner ($213 billion) last year, driven by tech stocks and a weak national currency. The fund's total value reached close to 15.8 trillion kroner last year. The 16.1 percent return...

The move comes as UPS seeks to "align" its resources.

The drugmaker's revenues fell 41 percent to $14.2 billion.

Sohar, Oman -- Oman and Etihad Rail Company (OER), the developer and operator of the UAE-Oman Rail Network, and Al Jazeera Steel Products Co (AJSP), one of the leading steel structural products and tube manufacturers in the Middle East, signed a Memorandum of Understanding (MoU) to establish a strategic framework...

RAS AL KHAIMAH, UAE - The economic growth of the Emirate continued to accelerate in 2023, with the Department of Economic Development reporting a 10 percent increase in the total capital of valid business licenses issued. This figure reached US$2.1 billion (AED 7.8 billion), demonstrating the emirate's strong economic momentum....

The aim is to develop EV charging facility in the UAE.

ABU DHABI, UAE - The Abu Dhabi's “Business Activity Report” for the year 2023, issued by the Abu Dhabi Department of Economic Development (ADDED), has reported annual growth of major indicators. The report emphasizes the business ecosystem's attractiveness and its ability to attract quality investments, supported by the Emirate's strong...

Dubai, UAE -- UAE's Ministry of Finance has saved 39,000 hours of human labor by using bots, software applications that carry out automated tasks for 1.8 million transactions with more than 98 percent accuracy, the Ministry said. It has just completed phase two of embedding robotic process automation (RPA) into...

It will invest US$169m to develop new capacity.

Tuesday's announcement was not expected to have an immediate effect on production or exports. After a series of oil supply cuts dating back to October 2022, Saudi Arabia's daily output stands at approximately nine million bpd, far below its capacity of 12 million bpd.

Ghitha reported an operating profit of $69 million in 2023.

Tokyo, Japan - Toyota said Monday it was suspending shipments of 10 models that use engines linked with testing irregularities at an affiliate company. The affiliate, Toyota Industries, did not conduct proper horsepower output testing for the certification of three diesel engine models, the parent group said. The automaker said the...

GFP secures nearly $60 million in equity financing to expand its network.

EDGE has a local and global orderbook of over $5billion.

Doha, Qatar - Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 18.7 billion ($5.13 billion), a decrease of about QR 9.5 billion, or 33.7 percent, compared to December 2022. The trade balance showed an increase by nearly QR 2.0 billion,...