Jakarta, Indonesia--Indonesian President Joko Widodo departed for South Africa on Sunday to attend the BRICS summit in Johannesburg amid speculation that the country could join the group as its latest member. The meeting, which brings together major emerging economies countries led by Brazil, Russia, India, China, and South Africa, will be...

Tehran, Iran-- China's ambassador to Iran has affirmed that his country's cooperation with Iran is at its best in various fields, voicing hope that both sides will further improve ties. Chang Hua made the remarks in a Saturday meeting with the governor of the northwestern Iranian province of West Azarbaijan...

Saudi Arabia's football clubs continue to win over global stars with Serbian forward Aleksandar Mitrovic becoming the latest player to join Al Hilal. The club is reported to have negotiated a $64 million deal for the 28-year-old. The Premier League club confirmed the Serbian's departure following Saturday's 3-0 Premier home...

Astana, Kazakhstan-- Saudi Arabia and Kazakhstan have pledged to strengthen cooperation in the fields environment, water, and agriculture. The strengthening of ties in these sectors came up in a meeting between President of Kazakhstan Kassym-Jomart Tokayev and Saudi Arabia's Minister of Environment, Water and Agriculture Abdulrahman bin Abdulmohsen Al-Fadhli. Both...

ADDIS ABABA, ETHIOPIA - UAE Ambassador to the Federal Democratic Republic of Ethiopia Mohammed Salem Al Rashidi said that the historical relations between the two countries have witnessed remarkable progress over the past few years. This reflects the distinguished friendship between the leaderships of the two countries, and the exchange...

Dubai, UAE--Oil prices jumped about 1% on Friday on signs of slowing U.S. output, but both crude benchmarks also ended their longest weekly rally of 2023 on mounting concerns about global demand growth. West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.1%, to settle at $81.25 a barrel,...

Abu Dhabi, UAE-- As the UAE President Sheikh Mohamed bin Zayed visits Ethiopia to strengthen relations with the African country, the non-oil trade between the two nations has expanded to US$1.4 billion in 2022. According to Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, the UAE’s...

The two leaders met in Addis Ababa and held talks on various aspects of bilateral relations, in addition to broader regional and international issues of mutual interest. The focus of the discussion was boosting areas of cooperation, including economic, investment, and development ties, across all sectors to increase prosperity of...

Dubai, UAE -- Real estate transactions valued at more than AED 10.4 billion ($2.83 billion) were recorded in Dubai during the week ending 18 Aug 2023. Of the total 3,571 transactions,120 plots were that sold for AED1.2 billion and 2,782 apartments and villas were that went for AED6.86 billion. The...

New Delhi, India -- India's cricket board banked nearly $300 million from last year's iteration of its Indian Premier League, newly published financial documents have revealed. The Board of Control for Cricket in India (BCCI) is one of the richest governing bodies in global sport, owing largely to the runaway...

Evergrande, once China's top property developer, was found in 2021 to be struggling with more than $300 billion in liabilities, as it came under intense pressure after officials tightened scrutiny of the real estate industry. The company's woes have come to symbolize the growing crisis in China's sprawling property sector,...

Hubei's Ezhou Huahu Airport is world's fourth professional cargo airport.

Expectations of another Fed hike have pushed 10-year Treasury yields -- a gauge of future rates -- close to their highest levels since the global financial crisis. Data on Thursday did little to dissuade investors, with unemployment benefit applications falling the most since last month, indicating the labour market remains...

The value of the acquisition was reported to be $5.55bn.

Dubai, UAE -- Dubai's real estate market recorded deals worth AED 2.4 billion ($653 million) on Thursday, according to Dubai Land Department. The deals included 591 sales transactions worth AED1.76 billion on Thursday, in addition to 125 mortgage deals totaling AED613.72 million, and 36 gift deals amounting to AED98.44 million....

Sharjah, UAE -- Sharjah has recorded real estate transactions worth AED1.9 billion ($517 million) during July 2023, according to the monthly report issued by Sharjah Real Estate Registration Department. The department executed a total of 2,783 transactions, including 684 sales transactions across 96 areas in various regions of the emirate and...

The company's revenue grew 13.9 percent to $9.03 billion.

Aden, Yemen--Yemeni Prime Minister Maeen Abdulmalik affirmed that the economic support Saudi Arabia provides to Yemen represents a vital factor for achieving progress in various service and development sectors. During a cabinet meeting today in Aden, Abdulmalik pointed out that the kingdom's economic support backs the efforts of the Yemeni...

Its shares will begin trading on the bourse later this month.

The division recorded 32% growth in H1 of 2023.

Dubai, UAE-- The UAE's General Sports Authority (GSA) and the International Skating Union (ISU) and International Ice Hockey Federation (IIHF) have discussed opportunities for cooperation and partnership to boost winter sports, such as skating and ice hockey in the UAE. In this regard, Sheikh Suhail bin Butti Al Maktoum, Executive...

ABU DHABI, UAE - A two-day meeting of world leading economists and finance leaders convened by the COP28 Presidency has stated the next steps needed to establish a new framework for international climate finance and to drive progress at COP28 and beyond to COP29 and COP30. World-leading economists from the...

Tencent last year posted its first decline in quarterly sales since its listing.

Ras Al Khaimah, UAE - Chinese companies are seeking business opportunities in the Ras Al Khaimah Economic Zone (RAKEZ) as they plan to navigate the business landscape and strategic investment opportunities in the UAE. Post its successful business tour to major Chinese cities earlier this year, the economic zone hosted...

Dubai, UAE -- Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), reported 9.6 percent growth in its US equity holdings to US$38.9 billion in Q2, with electric vehicle manufacturer Lucid contributing just 16 percent of the increase despite representing 24 percent of the portfolio. Lucid continued to drag down the fund’s US public holdings with...

The Group posted 66% year-on-year revenue growth.

MOSCOW, RUSSIA - The 11th Moscow Conference on International Security, held at the Patriot Congress and Exhibition Center here, saw high-level discussions between Russian Deputy Defense Minister Alexander Fomin and military representatives from Saudi Arabia and Iran. In a meeting with Talal Abdullah Al-Otaibi, military adviser to the Saudi defense...

The SAR 0.25 per unit dividend will be paid to Riyad REIT Fund's unitholders.

Train trips in H1 2023 rose 46 percent compared to H1 2022.

Its cargo revenue recorded a 42% jump in H1 to US$57.9m.

From Cristiano Ronaldo to Neymar, the kingdom is offering eye-watering salaries to international football stars to bring them over from clubs across Europe.

Jerusalem--The European Union has disbursed $24 million for the payment of social allowances to 71,162 vulnerable Palestinian families through the National Cash Transfer Program. The European Union for the past 17 years has been a steadfast supporter of the Palestinian Authority's (PA) Ministry of Social Development (MoSD), collaborating to ensure...

Amman, Jordan--Jordan is urging "companies and institutions" to switch to renewable and sustainable energy to reduce operating costs. In this regard, the kingdom's Minister of Energy and Mineral Resources Saleh Kharabsheh said Tuesday opportunities exist for cooperation to cut energy consumption across various sectors through implementing programs similar to those...

Saudi Arabia’s real estate sector is evolving with new regulations, creating fresh job opportunities. The latest initiatives seek to enhance the sector’s GDP contribution while fostering job and investment prospects.

Manama, Bahrain - The Central Bank of Bahrain (CBB) has said its monthly issue of the Sukuk Al-Salam Islamic securities has been oversubscribed by 319 percent. Subscriptions worth BD 137.151 million ($364m) were received for the BD 43 million ($114m) issue, which carries a maturity of 91 days. The expected...

The Group posted revenues of $79 million in the second quarter.

Total revenues grew by 7.2% YoY to $590 million.

Riyadh, Saudi Arabia -- The Saudi Ports Authority (Mawani) has added 20 cargo services to the ports of Jeddah, Dammam, and Jubail during the first half of 2023, a development that inspired the Kingdom’s latest score of 76.16 points in the Q2 2023 update of the UNCTAD’s Liner Shipping Connectivity...

Abu Dhabi, UAE -- Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a five-year $500m agreement with the Egyptian government to facilitate the provision of wheat and essential commodities in the North African nation. The agreement entails a revolving financing program...

It posted a jump in net profit in Q2 to US$2.92 million.

Two subsidiaries of the Qatari firm open two branches.

Beijing, China -- Saudi Arabia's Minister of Municipal, Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, has held a meeting with key leaders from Chinese housing infrastructure companies, which are aimed at fostering collaboration in infrastructure, urban development, housing, real estate development, and financing. The Kingdom's ambassador to China, Abdulrahman...

Seen as a key culprit in the country's dramatic economic crash, former governor Riad Salameh's bank accounts were ordered to be frozen by Lebanon days after the the US, the UK and Canada slapped him with sanctions. The central bank has ordered the lifting of banking secrecy and the freezing...

Muscat, Oman-- Oman LNG has signed an agreement with Securing Energy for Europe (SEFE) to supply 400,000 tonnes of liquefied natural gas a year from 2026. According to Oman News Agency, the agreement with the German company is based on a four-year contract. “The term-sheet signing with SEFE marks another...

Abu Dhabi, UAE-- The banks in the UAE increased their credit facilities for the business and industrial sectors by around $7.73 billion in the first five months of this year. According to the latest statistics from the Central Bank of the UAE, the two sectors witnessed a 4 percent rise...

Atlanta, United States - Prosecutors investigating Donald Trump's efforts to overturn the 2020 election in the US state of Georgia were expected to begin presenting evidence to a grand jury Monday for what could be a sprawling, multi-defendant indictment. The case would be the fourth brought against Trump this year --...

Firm to supply 600,000 tons of fertilizers to BADC.

Abu Dhabi, UAE – Real estate markets of UAE capital Abu Dhabi and Dubai demonstrated resilience in the face of rising interest rates and inflation in the second quarter, with Dubai realty market outperforming many if its peers worldwide, a report said. The report by Asteco, a full-service Real Estate...

Net profit was affected by higher interest rate.

Los Angeles, United States - Warner Bros.' hit "Barbie" dominated North American box offices for a fourth consecutive week, industry estimates showed Sunday, as director Greta Gerwig continues to bust industry records. Gerwig, who with "Barbie" had already become the first solo woman director to rake in more than $1 billion...