Responding to reports of a possible renationalization, a government statement said Thames Water's present situation was "a matter for the company and its shareholders".

"Once the data act enters into force, it will unlock the economic and societal potential of data and technologies and contribute to an internal market for data," said Sweden's minister for public administration Erik Slottner.

Kuwait -- Kuwait's General Administration of Civil Aviation (GACA) and the South Korean Ministry of Land, Infrastructure and Transport signed a memorandum of understanding (MoU) on June 28 to regulate air operations between the two countries and increase their cooperation in civil aviation. The MoU, which amends the agreement signed...

Tehran, Iran-- Qatar has renewed its willingness to boost economic cooperation with Iran, ramping up investment in order to strengthen the overall relations between the two countries. In a phone call on Tuesday with the Iranian President Ebrahim Raisi, the Emir of Qatar Sheikh Tamim bin Hamad Al Thani voiced...

Credit Suisse had a staff of around 45,000 before it nearly collapsed on investor fears about its solvency, which prompted a massive bailout orchestrated by the Swiss government. UBS chief executive Sergio Ermotti had warned earlier this month that the coming months were likely to be "bumpy", saying the merger...

Sharjah, UAE--Sharjah Football Company has signed Mohamed Firas Belarbi, the Tunisian international defender, from the Ajman Club for an undisclosed sum. Regarded as one of the most effective attacking midfielders in the UAE championships over the past two seasons, Belarbi has an impressive track record. His remarkable contributions during the...

The US-based electric vehicle startup also files for bankruptcy.

The rules will apply from January 1, 2025, two years later than the 2023 deadline agreed under the reforms.

Riyadh, Saudi Arabia -- Saudi Arabia’s imports from Gulf Cooperation Council countries fell 15 percent year-on-year to SAR 5.6 billion ($1.49 billion) in April 2023, compared to SAR 6.57 billion in 2022, the Kingdom's General Authority for Statistics said. Compared with March 2023, the Kingdom's imports from GCC dropped by...

Dubai, UAE -- Dubai's real estate market has recorded its highest semi-annual sales figures ever, with 61,000 deals worth AED 179.34 billion ($47.8 billion) taking place in the first half of 2023, according to W Capital Real Estate Brokerage. CEO of W Capital, Al Zarooni, said the growth rate in...

Doha, Qatar--The increasing availability of government sukuk and Islamic liquidity management tools by the Qatar Central Bank supports liquidity management and investment options for Islamic banks, according to a report from Fitch Ratings. In a report issued today, it indicated that its review of its future expectations for three Qatari...

Abu Dhabi, UAE--The International Security Alliance (ISA) has seized narcotics estimated to be worth US$750 million from a large transnational drug trafficking ring, and arrested 597 suspects, in a wide operation spread over many continents, dealing a big blow to organized criminal groups trafficking in drugs. The ISA, a working...

Doha, Qatar-- Qatar and Argentina are looking to bolster ties and in this regard Qatar Chamber of Commerce and Industry (QC) and Argentina Chamber of Commerce have signed a memorandum of understanding (MoU) to enhance and diversify trade exchanges and economic cooperation between the two countries. This came on the...

Tehran, Iran-- Qatar and Iran have agreed to bolster ties in the labor sector with the aim of raising capacities, exchanging experiences, developing a consultation mechanism between the two countries, exchanging experiences in the field of vocational and technical training and training centers. In this connection, the Qatari-Iranian Joint Committee...

Abu Dhabi, UAE-- Prominent Abu Dhabi companies are taking part in Impower Fund Forum, the largest asset and wealth management conference in Europe that will see participation of more than 1,400 international players from nearly 60 countries. The companies from Abu Dhabi that will take part in the event include...

Abu Dhabi, UAE -- Institutional investors bought more local stocks than they sold in the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) from January to June this year, according to the latest data from the Securities and Commodities Authority (SCA). Net purchases by institutional investors totaled...

Lucid Group to help make Aston Martin's luxury 'green' cars.

Japan Investment Corporation hopes to finalize the deal by December.

Manama, Bahrain -- Treasury bills valued at Bahrain Dinar 70 million ($185 million) issued this week by the Central Bank of Bahrain have been oversubscribed 109 percent The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of the Kingdom of Bahrain. The...

The $15 million is located in Dammam area of the Kingdom.

Doha, Qatar--Qatar participated in the 58th regional meeting of director general of customs of the North of Africa, near and Middle East region, and the 141st/142nd Sessions of the WCO Council, held at WCO headquarters in Brussels. Qatar was represented by chairman of the General Authority of Customs (GAC) Ahmed...

Dhahran, Saudi Arabia -- Saudi Aramco and the Beekeepers Cooperative Society in Rijal Almaa Governorate in Asir Region have signed a memorandum of understanding (MoU) to support beekeeping and beekeeping products in the region. Through this initiative, the Beekeepers Association aims to produce approximately 10,000 queen bees and 4,000 breeding...

Amman, Jordan--The European Investment Bank (EIB) has approved the provision of $66.52 million for Jordan to upgrade the water supply system and reduce water loss in Bani Kinanah district north of Jordan. The project is intended to improve the quality of drinking water in the targeted districts and reduce water...

Tehran, Iran-- The future of relations between Iran and the United Arab Emirates is promising and in line with the interests of both nations, according to Iran's ambassador to the UAE. "The two countries intend to find ways to have warmer and closer relations in light of developments in the...

Dubai, UAE-- Dubai Customs has scuttled nearly 2,600 attempts during the last three years to smuggle drugs, combating a concerted campaign to bring in drugs into the emirate as it commemorates the International Day Against Drug Abuse and Illicit Trafficking on June 26th each year. Between 2020 and 2022, Dubai...

Doha, Qatar - Qatar Chamber and Tajikistan Chamber of Commerce and Industry signed Sunday an agreement to establish a Joint Business Council (JBC) between the two chambers. The Joint Business Council aims to facilitate communication between the two parties to increase trade and economic cooperation between the two countries. It...

Indian Prime Minister Narendra Modi met Egypt's President Abdel Fattah al-Sisi in Cairo on a rare visit during which both sides pledged to deepen their strategic partnership. They agreed to boost investment by India, the world's most populous nation, in Egypt and which is now in the grips of an...

The two firms will offer AI Digital Contact Centre Platform.

NEW DELHI, INDIA - UAE Minister of Economy and Head of the Emirates Tourism Council Abdullah bin Touq Al Marri met separately with the ministers of India, UK, Indonesia and Japan on the G20 Tourism Ministers' Meeting in Goa. Bin Touq met with Sandiaga Uno, Minister of Tourism and Creative...

ABU DHABI, UAE -  AD Ports Group, a leading facilitator of global trade, logistics, and industry, and Premier Marine Engineering Services, a UAE-based shipyard company on Sunday announced the formation of a new joint venture, SAFEEN Drydocks. AD Ports Group will own 51 percent of the joint venture and the...

SHARJAH, UAE - The emirate's real estate activity during May 2023 logged a total value of US$653 million (AED 2.4 billion), further enhancing Sharjah's position as an ideal destination for investors, businessmen and families. The Real Estate and Mortgage Report issued by Sharjah Real Estate Registration Department (SRERD) revealed that...

Hyundai will build a petrochemicals complex in the kingdom.

Abu Dhabi, UAE-- The emirate of Abu Dhabi has approved the disbursement of housing benefits worth US$844 million to citizens in order to lift up their standard of living. In this connection, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu...

Doha, Qatar--Qatar has been elected to be the chairperson of the International Civil Aviation Organization (ICAO)'s Technical Cooperation Committee (TCC). Representatives of ICAO council member states elected Qatar's candidate and Permanent Representative in the Council Essa Abdullah Al Malki as the chairperson of the ICAO Technical Cooperation Committee, during the...

In spite of economic sanctions imposed by the Western governments against Iran, the country has seen its oil exports surge in May to 1.9 million barrels per day. According to its oil minister, the energy diplomacy and its strengthening relations with countries in Asia, Africa, and Latin America have helped...

Abu Dhabi, UAE-- Some 900,000 passengers are expected to pass through Abu Dhabi International Airport on more than 5,000 flights to and from 109 destinations spread over 59 countries. The projected numbers were released by Abu Dhabi Airports in anticipation of an increase in traffic at Abu Dhabi International Airport...

SANTA CLARA, US -  The CEO of Nvidia said that the world's most valuable chipmaker is "extremely likely" to invest in Europe. Nvidia's Jensen Huang told reporters that expanding in Europe was a "wonderful idea." By investing money in Europe, Nvidia would join other semiconductor giants like Intel that are also...

BAGHDAD, IRAQ - The Finance and Business Center in Iraq is set to become a hub for trading and selling both governmental and private securities, according to the Prime Minister's financial advisor Mudhar Muhammad Salih. In an interview with the Iraqi News Agency (INA), Salih emphasized the center's role in...

Saudi Aramco and France's TotalEnergies signed contracts to start building an $11-billion petrochemicals facility in the Gulf kingdom, the two companies said. A signing ceremony for the engineering, procurement and construction contracts for the Amiral complex took place at Aramco's headquarters in Dhahran, in Saudi Arabia's Eastern Province.

KUWAIT- Central Bank of Kuwait (CBK) announced that the broad money supply (M2) went up by 0.3 percent last May to settle at US$130.6 billion (KD 39.6 billion). Local banks' private sector deposits increased by 0.6 percent to settle at US$119.4 billion (KD 36.2 billion), revealed the CBK's economic research...

RIYADH, SAUDI ARABIA - The Minister of Human Resources and Social Development and Chairman of the Board of Directors of the National Center for Non-Profit Sector, Eng. Ahmed bin Sulaiman Al-Rajhi, praised the contributions of the non-profit sector in achieving Saudi Vision 2030. The Saudi Arabian government has outsourced certain...

DUBAI, UAE - Dubai Land Department (DLD), through the real estate development sector, has launched the real estate investment trusts (REIT) privileges registry, and announced the opening of registration in it. Following the design and development of the online platform and the training the service centers to receive applications, local...

Abu Dhabi, UAE-- The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) has made it mandatory for foreign vehicles crossing into the UAE by land at Al Ghuwaifat Port Station to be insured, from June 26, 2023. The vehicle owners driving into the country can now buy insurance...

FRANKFURT, GERMANY -  Shares in Siemens Energy plummeted on Friday after the company warned that technical problems at its wind turbine unit were worse than previously thought. The group scrapped its full-year profit target and said it was setting aside more than US$1.1 billion (1 billion euros) over the coming years...

They will more than double Indonesia's BNCT's capacity to 1.4m TEUs.

ABU DHABI, UAE - Aggregate capital and reserves of banks operating in the UAE rose by 10 percent year-on-year (YoY) to US$118.5 billion (AED435.3 billion) at the end of April 2023 from US$107 billion (AED395.9 billion) at the end of April 2022, according to the Central Bank of the UAE’s...

Dubai, UAE -- Dubai Financial Market has delisted shares of Gulf General Investments Company's shares, effective 23 June 2023, under the rule that empower it to delist any security that has been suspended from trading for a duration of six months. The shares will remain in each investor's account with...

Jeddah, Saudi Arabia -- The Islamic Development Bank (IsDB) and the Agence Française de Développement have signed an agreement to co-finance projects worth more than $4 billion in developing countries and support these countries in achieving their UN Self-development Goals (SDGs). The MoU was signed by the president of the...

Paris, France -- SAMI, a PIF-owned national defense and security organization of Saudi Arabia, has signed an agreement with Safran Helicopter Engines for engine maintenance and repair. The agreement includes technical assistance and qualification, development of technical infrastructure, and technical training for Saudi talents who will earn their top qualifications...

PARIS, FRANCE - European airlines have been hit by a consumer complaint filed with the EU's executive arm accusing the 17 companies of greenwashing, the practice of making misleading climate-related claims. The European Consumer Organization, or BEUC, said Thursday the claims made by the airlines breach EU rules on unfair commercial...