Dubai, UAE: US dollar sukuk issuance for 2023 is on course to outpace 2022 due to funding needs and diversification strategies, Fitch Ratings said in a new report. However, the third quarter sukuk issuance in all currencies ($51.7 billion equivalent) issued in core markets was 12.3 percent lower YoY, while bond...

DOHA, QATAR - The volume of real estate trading in sales contracts at the  Department of Real Estate Registration at Qatar’s Ministry of Justice during the period from October 1 to 5, 2023 reached US$68 million (QR 249,404,838). Total sales contracts for residential units in the Real Estate Bulletin for...

RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) reported an 11.66 percent surge in container traffic across its trade hubs during September, handling 732,293 Twenty-foot Equivalent Unit in comparison to 655,831 TEUs a year earlier. Monthly statistics further show an 18.2 percent increase in exported containers from 198,529 TEUs...

The no-frills airline will buy 157 aircraft from Airbus.

The fall was attributed to an increase in non-operating expenses.

It will deepen cooperation between the UAE and Turkey.

Marrakesh, Morocco – Africa’s total exports will reach $952 billion by 2035 and the African Continental Free Trade Area (AfCFTA), once fully implemented, has the potential to increase this figure by a further 29 percent, a Standard Chartered report has revealed.  This represents an annual growth rate of 3 percent...

Activists from developing nations belonging to a group called People's Alternative Global Tribunal organized themselves in the Moroccan city as the IMF and World Bank held their annual meetings. Activists testified about how the policies of the international financial institutions impacted their countries, deepening economic inequality.

Abu Dhabi, UAE-- The UAE and US have reviewed ways to accelerate cooperation in priority sectors such as clean energy, sustainable industrial development and advanced technology – areas where the UAE and US already share a successful track record. The discussion on the boosting of ties came up in a...

The German sandals maker has set its share price at $46.

This is the company's biggest takeover since 1990 acquisition of Mobil.

Thierry Breton, EU commissioner and self-styled "digital enforcer", raised the alarm in letters sent to Elon Musk, owner of X, formerly known as Twitter, and Mark Zuckerberg, whose Meta group includes Facebook and Instagram.

Dhahran, Saudi Arabia -- Aramco has signed an MoU that paves the way for Aramco's potential acquisition of a 10 percent strategic equity stake in Shandong Yulong Petrochemical Company, subject to rigorous due diligence, negotiation of transaction terms, and the necessary regulatory approvals. The MoU was signed with Nanshan Group,...

Dubai, UAE -- Despite global economic uncertainties, the construction industry in the Middle East and North Africa (MENA) awarded a staggering $101 billion worth of projects in the first half of 2023, a report by JLL's Construction Market Intelligence said, based on insights gathered from industry experts and sources. The...

They will create a joint company to upgrade organic waste recycling.

SAFCO Group is a food and beverage distributor in the UAE.

Abu Dhabi, UAE – Zest Equity, a venture-backed technology company offering digital infrastructure for private market transactions, has closed a $3.8 million seed round. The Hub71 startup will use these funds to drive the company's ambition to expand its product offering in the MENA region, providing private market stakeholders with...

Marrakech, Morocco-- The International Monetary Fund on Tuesday cut its growth forecasts for China and the euro zone and said overall global growth remained low and uneven despite what it called the "remarkable strength" of the U.S. economy. In its latest World Economic Outlook, the IMF left its forecast for...

The company expects Q3 profits to fall nearly 80% to US$1.8bn.

Dubai, UAE--The UAE will sign six new comprehensive economic partnership agreements (CEPA) with South Korea, Thailand, Chile, Costa Rica, Colombia, and Ukraine over the next few months. This was revealed by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, during a press conference to announce the...

RIYADH, SAUDI ARABIA - The first wind turbines have arrived at what Saudi officials bill as the world's biggest green hydrogen plant, in the futuristic NEOM megacity, the project's CEO told AFP on Tuesday. "This week, we have our first delivery of wind turbines. They actually arrived in the port of...

Beijing said Tuesday the value of signed construction contracts with partners now totaled two trillion dollars -- roughly the size of the economy of Russia or Canada.

"Equity markets are bouncing back on Tuesday after a risk-averse start to the week, buoyed... by some promising Fed commentary," said analyst Craig Erlam at trading firm OANDA.

The company's H1 revenue increased by 13% to $1.4 billion.

Borouge will also supply critical materials for UAE energy projects.

The suspension of flights by the airline follows similar decisions by American Airlines, Air France, Lufthansa, Emirates and Ryanair and others that this weekend pulled flights to Tel Aviv's Ben Gurion airport. American Airlines on Monday said it operated two flights out of Tel Aviv on Saturday and Sunday to...

The shares dropped nearly 9 percent at the close of trading.

ABU DHABI, UAE – Al Etihad Payments (AEP), a wholly-owned subsidiary of the Central Bank of the UAE (CBUAE), and NPCI International Payments Limited (NIPL), have announced a strategic partnership to develop the UAE’s first national Domestic Card Scheme (DCS). The agreement was exchanged between Saif Humaid Al Dhaheri, Assistant...

The company reported a net profit of $70m for 9M period of 2023.

The US firm will pay US$4.8bn to acquire cancer drugmaker.

DUBAI, UAE - Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate attracting 511 such projects in H1 2023, as per Financial Times ‘fDi Markets’ data - the comprehensive online database on cross-border greenfield investments. Dubai continues to set new benchmarks in...

PIF will own 75% in the Electric Vehicle Infrastructure Company.

RIYADH, SAUDI ARABIA - India and Saudi Arabia signed a Memorandum of Understanding (MoU) here in electrical interconnection, green/clean hydrogen, and supply chains. The MoU was signed by Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz Al Saud and India’s Minister of Power and New and Renewable...

Riyadh, Saudi Arabia -- Saudi Arabia Railways (SAR) has announced the launch of hydrogen train tests in the Kingdom, following the signing of an agreement with the French company Alstom. It will conduct operational tests and studies necessary to prepare this type of train to fit the Kingdom's environment, in...

Riyadh, Saudi Arabia-- Saudi Arabia and South Korea have pledged to strengthen cooperation in various fields. According to a press statement released by the office of South Korea's President Yoon Suk Yeol, the boosting of ties between the two countries was discussed in a telephone call between the president and...

Bishkek, Kyrgyzstan--The UAE and Kyrgyzstan have discussed mechanisms to enhance joint cooperation in various fields, especially renewable energy, transportation, and logistics services in a meeting between Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure and Sadyr Japarov, President of the Kyrgyz Republic. The minister led a high-level UAE...

DUBAI, UAE - Dubai Customs recently convened an extensive meeting with the courier and express shipping companies, aimed at bolstering the seamless operation of e-commerce activities. It also aims at solidifying Dubai's position as a global e-commerce epicenter, aligning with the strategic objectives of the Emirate’s economic agenda. The meeting...

Dubai, UAE-- Terming the circular economy as a critical pathway that builds a sustainable future by preserving natural resources, reducing waste, and promoting the conservation of resources at source, Mariam bint Mohammed Almheiri, Minister of Climate Change & Environment, emphasized that it not only promotes environmental sustainability but also presents...

DUBAI, UAE -  A total of 1,445 real estate transactions worth over US$2.5 billion (AED 9.5 billion) were conducted during the week ending October 6, 2023, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 248 plots were sold for US$476 million ( AED...

TABUK, SAUDI ARABIA - The Tabuk region's agricultural sector is making steady progress towards achieving the goals of Saudi Arabia's Vision 2030. Tabuk region annually produces over 28 million flowers, including 17 varieties of roses. These flowers have a market value of over SAR32 million, making the region a leader...

BANGKOK, THAILAND - Dry conditions, particularly in China, caused a "historic" global drop in hydropower in the first half of 2023, a new analysis shows, highlighting the effects of climate change. The research by renewable energy think tank Ember argues the drop is a "warning shot that hydro output could negatively...

RIYADH, SAUDI ARABIA - King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk carrier IANTHE last month, making it the first ever shipment of the oil byproduct from the Yanbu-based hub. The South Africa bound cargo also marks the resumption of bitumen exports...

RIO DE JANEIRO, BRAZIL - A delegation led by President of the General Authority of Civil Aviation (GACA) Abdulaziz bin Abdullah Al-Duailej has concluded its participation in the Saudi-Brazilian International Aviation Conference held here from October 2 to 4.    Under the theme "Going Further Together", the conference saw several...

Luxembourg, Luxembourg -- Luxembourg's residents may be classified as the wealthiest in the European Union, but the sky-high cost of buying or renting a home in the country has made living there nearly impossible for some. The crisis has become the number one concern in the Grand Duchy of 660,000 people...

Riyadh, Saudi Arabia -- The aggregate sales of 17 Saudi cement producers decreased by 8.5 percent to 4.1 million tons in September, from 4.5 million tons a year earlier, according to recent data issued by Yamama Cement Co. Locally, eight market players reported better sales, led by Al-Safwa Cement Co....

Geneva, Switzerland - Global trade growth will be sharply lower than forecast this year as stubborn inflation, high interest rates and the war in Ukraine pressure economies around the globe, the World Trade Organization said on Thursday. Strains in China's vast property market also prompted the WTO to cut its trade...

RIYADH, SAUDI ARABIA – The Saudi Exchange's (Tadawul) sukuk and bonds market witnessed 74 negotiated deals worth nearly SAR 12.77 billion in the first nine months of 2023. March recorded the highest number and value of deals, as 18 transactions were executed at a total value of US$853 million. KSA...

The changes brought a good deal of criticism, journalist Tom Warren of The Verge website posting on X: "It's the latest in a long line of dumb changes on this platform."

Hanoi, Vietnam - Vietnam plans to auction the rights to exploit its largest rare earth mine, a project partner said Thursday, as the country looks to compete with China in a sector crucial to high-tech devices. A tender for the mining of the Dong Pao mine, in northern Lai Chau province,...

Power to be purchased generated from UAE's Wind Programme.