Riyadh, Saudi Arabia -- The total assets under management (AUM) held by capital market institutions licensed by Saudi Arabia’s Capital Market Authority (CMA) rose 7 percent, or SAR 53 billion ($14 billion), quarter-on-quarter (QoQ) to SAR 823.6 billion in Q2 2023, according to the authority’s data. The total AUM held...

Beijing, China--China on Wednesday denied there was any ban on officials purchasing or using foreign phones, including iPhones, after reports said Beijing was prohibiting civil servants from using Apple handsets. "China has not issued any laws, regulations, and policy documents prohibiting the purchase and use of foreign brand smartphones, including iPhone,"...

The airline is already under fire over soaring ticket prices, allegations it sold tickets for cancelled flights, and claims that it pressured the government to stop international rival Qatar Airways from offering more flights to Australia. The country's Federal Court ruled last year that Qantas's outsourcing of ground staff jobs...

Vienna, Austria--The Organization of the Petroleum Exporting Countries (OPEC) has confirmed that the UAE's economy grew by 3.8 percent in the first quarter of 2023. In its September 2023 report, OPEC said it expects the UAE's economic expansion to continue, noting that key sectors of the country's economy have seen...

Geneva, Switzerland - The de-globalization of international trade is far from being a reality, but "the first signs of fragmentation" are appearing, the WTO warned on Tuesday, concerned of the effects of the phenomenon on growth and development. The idea of "de-globalization" has gained traction since the war in Ukraine and...

Washington, US - A landmark case pitting the US government against Google over the dominance of the company's world-dominating search engine began in a Washington courtroom on Tuesday. "This case is about the future of the internet and whether Google will ever face meaningful competition in search," said Justice Department lawyer...

The interim dividend reflects the firm’s robust balance sheet.

Abu Dhabi, UAE -- Standard & Poor's Global Ratings expects that the banks of the United Arab Emirates (UAE) will achieve strong performance in 2023. In a recent report, the credit rating agency said that UAE banks will benefit from strong non-oil GDP growth, which will mitigate the impact of...

Jeddah, Saudi Arabia -- Cruise Saudi, a wholly owned subsidiary of the Public Investment Fund that specializes in developing the cruise sector in the Kingdom, has announced cooperation with top-notch companies in the sector, MJM Marine and DE Wave, for the new premium owned cruise line AROYA Cruise.This cooperation aims...

AJMAN, UAE- The Ajman Chamber of Commerce and Industry (ACCI) has revealed that in the first half of 2023, at least 3,567 new members joined it.   The growth pace of the industrial sector in Ajman is accelerating as a result of the leadership's interest in the field, the availability...

Dubai, UAE -- The number of employees at capital market institutions rose by 103 quarter-on-quarter (QoQ) to 5,524 by the end of the second quarter of 2023, according to the latest data from the Capital Market Authority (CMA). Males accounted for 80 percent of the employees at capital market institutions,...

Doha, Qatar--The Qatari-Chinese Business Forum kicked off with the participation of over 70 local companies and nearly 60 Chinese companies to discuss investment opportunities in the two countries. Chairman of the Qatar Chamber of Commerce and Industry Sheikh Faisal bin Qassim Al-Thani said in a speech that the forum represents...

Abu Dhabi, UAE-- UAE President Sheikh Mohamed bin Zayed and Nigerian President Bola Ahmed Tinubu discussed opportunities for further bilateral collaboration in areas that serve both countries’ sustainable economic growth, including the economic, development, energy, and climate action fields in a meeting in Abu Dhabi. Sheikh Mohamed expressed his hope...

Aim is to help in decarbonization of the Polish power sector.

Pact was signed on the sidelines of G20 Summit in New Delhi.

With the latest acquisition, the firm now owns 39 JUBs.

The deal is likely to support more than 30,000 jobs in the US.

This was Investcorp's fourth exit in India in just a few years.

The $1bn was committed to Blue Owl's credit platform.

RTX said 600-700 engines will be removed for inspection.

TEHRAN, IRAN - The US Bureau of Statistics in its latest report said the trade between Iran and the United States in the first seven months of 2023 registered a 26 percent growth compared to the same period last year. The two countries traded over $31 million worth of non-oil...

Aldar Estates will benefit from a stable growth pipeline.

The first generation of the iconic British vehicle's electric model was launched at the Oxford plant in 2019, but last year BMW announced most of its electric cars would be made in China. The investment is expected to be used to make the plant fit for making electric vehicles, with...

Tehran, Iran--Iran’s oil exports to China hit an all-time record in August despite continued US pressure on the country, according to data from a major international energy data company. The Sunday report by Fars news agency said Iran’s oil exports to China had reached an average of 1.5 million barrels...

The International Federation for Red Cross and Red Crescent Societies has warned that the next 24 to 48 hours will be critical for saving lives as the death toll keeps rising. At the same time, global aid and support has begun to pour into Morocco, led by the UAE, Qatar,...

Manama, Bahrain--GCC Secretary-General Jassim Al-Budaiwi has emphasized the crucial role of the private sector in ensuring a sustainable and resilient Gulf economy. Al-Budaiwi made these remarks during his speech at the 62nd meeting of the Board of Directors of the Gulf Chambers, hosted by Bahrain. The meeting was chaired by...

NEW DELHI, INDIA – The Chief General Manager of the Reserve Bank of India's Department of Payment and Settlement Systems, said that the country is looking forward to more meaningful cooperation with the UAE in the field of digital payments. Speaking to the Emirates News Agency (WAM) on the sidelines...

JEDDAH, SAUDI ARABIA - The Board of Executive Directors (BED) of the Islamic Development Bank (IsDB) approved to finance projects worth US$800 million for improving the living conditions of the people in member countries and attaining Sustainable Development Goals (SDGs). IsDB President Dr. Mohammed Al-Jasser said that the projects were...

Riyadh, Saudi Arabia -- The Cityscape Global Exhibition, which kicked off Sunday in Riyadh, witnessed the launch of real estate projects worth around SAR 65 billion ($17.32 billion) on the opening day. ROSHN Group will have four strategic partnerships of over SAR 9 billion in the fields of construction and...

The long-term facility was obtained from Gulf International Bank.

The book-building process starts Sunday and run through Sept. 14.

New Delhi, India-- Appealing to G20 members to lead by example in delivering on the promise of US$100 billion per year for climate finance, International Monetary Fund (IMF) Managing Director Kristalina Georgieva has underscored the need for cohesive effort to prevent grave risks to economic well-being and macro-financial stability from...

Doha, Qatar--The Qatar Financial Centre Authority (QFCA), Qatar Stock Exchange and Malaysian Rating Corporation Berhad (MARC) have entered into a memorandum of collaboration (MoC) to pursue a range of strategic initiatives aimed at advancing the financial landscape with a specific emphasis on bonds and Sukuk The scope of the collaboration...

Led by staples other than rice and sugar, the Food and Agriculture Organization of the United Nations revealed that its Food Price Index, which tracks monthly changes in the international prices of globally-traded food commodities, averaged 121.4 points in August, down 2.1% from July and as much as 24% below...

NEW DELHI, INDIA - UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met to discuss the Comprehensive Strategic Partnership and Comprehensive Economic Partnership between the two countries. The two leaders also discussed sustainable development and strengthening ties between the countries and their people. The...

AMMAN, JORDAN - Chairman of the Amman Chamber of Commerce (ACC) Khalil Haj Tawfiq said the Jordanian Economic Forum with some countries of Association of Southeast Asian Nations (ASEAN) will be held in March 2024. In a statement on Saturday, he said the agreement to set a date for the...

Major G20 partners are set to unveil ambitious plans on Saturday to enhance trade among India, the Middle East, and Europe. This modern-day Spice Route aims to integrate regions that represent about a third of the global economy. Washington, Saudi Arabia, the EU, the UAE, and other nations plan to...

Tehran, Iran--Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to the Islamic Republic of Iran, the bank announced on Thursday. The service is available to both individuals and businesses using their Sber accounts, according to the bank.   “The money transfer service...

Dubai, UAE – The Dubai Land Department (DLD) reported over 3,200 transactions worth AED 24.7 billion last week and this upwards trend appears to have become a staple of permanence in the emirates’ real estate market. Sales frequency has surged on the heels of investor confidence being renewed amid continued...

Doha, Qatar -- Qatar real estate market recorded deals worth QR1.011 billion ($277 million) in the month of August 2023, the emirate's Real Estate Registration Department data showed. The data said that a total of 297 real estate transactions were recorded during the month. Doha, Al Rayyan, and Al Wakrak...

Tehran, Iran -- Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to Iran. The service is available to both individuals and businesses using their Sber accounts, Tasnim reported. “The money transfer service to Iran is new to us and the demand for...

TEHRAN, IRAN - Foreign companies and governments committed some US$6.7 billion worth of investments during an exhibition that was held in early May here, Iran’s deputy foreign minister for economic diplomacy affairs said.   Mehdi Safari said on Thursday that Iran seeks to break new records in foreign investment attraction and...

Rice is a major world food staple and prices on international markets have soared in the wake of the Covid pandemic, the war in Ukraine and the impact of the El Nino weather phenomenon on production levels. India announced in July a ban on exports of non-basmati white rice, which account for...

Asia's largest district cooling PPP project in Hyderabad part of deal.

RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Economic Trade Organization (IETO) have signed a Memorandum of Understanding (MoU) to strengthen trade and investment ties between the UAE and India. The MoU was signed by RAKEZ Chief Commercial Officer Anas Hijjawi and IETO President...

DOHA, QATAR - The volume of real estate trading in non-residential sales contracts at the Department of Real Estate Registration at the country’s Ministry of Justice from August 27 to August 31, 2023, reached US$ 68 million (QR 250,159,704). The total sales contracts for residential units in the Real Estate...

It accuses Google of breaching competition law by shutting out mobile search competition and using its market dominance to increase the prices paid by advertisers for their prominence on the Google search page.

The pact was signed through ENOC partner CKW Enterprises.

The aim is to speed up clean energy transition in Africa.

Abu Dhabi, UAE -- Abu Dhabi National Energy Company (TAQA's) dual-tranche $1.5 billion bonds were listed on Abu Dhabi Securities Exchange (ADX) Thursday. The five-year $500 million notes, maturing in 2029, were issued as conventional bonds with a 4.3 percent coupon, while the 10-year $1 billion tranche, maturing in 2033,...