The company reported a profit of $67.25m for the last fiscal.

Iraq's Prime Minister Mohammed Shia al-Sudani has said the country's new banking regulations have revealed fraudulent dollar transactions made from his country. In recent months the country has been seeking to make sure that its banking system is in sync with the international electronic transfer system.

Dubai, UAE -- Dubai real estate market recorded deals worth AED2.1 billion on Tuesday, Dubai Land Department said. The deals included 471 sales transactions worth AED1.87 billion, in addition 70 mortgage deals of AED122.36 million, and 14 gift deals amounting to AED130.13 million. The sales included 451 villas and apartments...

The bank’s net profit for Q4 2022 was up 23%.

Tesco plans to cut about 1,750 management roles.

Results reflect higher production of oil, natural gas.

Bank said it would pay out US$5.6 billion to shareholders.

Abu Dhabi, UAE-- The first auction of the UAE treasury bond program in 2023 has been oversubscribed by 6.2 times, receiving bids worth AED6.85 billion ($1.76 billion), WAM reported. In 2022, the Ministry of Finance, the issuer, had issued bonds totaling AED 9 billion across tenors of two years, three...

Net profits at the banking giant rose 23% in Q4 of 2022.

IHC announced it would be investing $400m into Adani Enterprise's $2.5 billion Further Public Offering. IHC said in a statement that it would make the investment through its subsidiary Green Transmission Investment Holding. It will subscribe to 16 percent of the FPO, which needs 90 percent bids to sail through.

Production of the fuel reached 3.1 trillion cubic feet for the month of October, according to the most recently available US data, an all-time high and up almost 50 percent from the level a decade ago.

Its operating profits in Q4 fell to $3.4 billion, a 69 percent drop.

Abu Dhabi, UAE--The Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) announced today that Muscat Stock Exchange (MSX) has now joined the "Tabadul" platform, the region’s first digital exchange hub, established on the mutual market access model that provides a trading network between stock exchanges regionally. As a result,...

Dubai, UAE--Dubai International Financial Centre (DIFC) unveiled the “DIFC Metaverse Platform” to attract technology innovators from around the world. The platform is part of a comprehensive strategy being developed by Dubai International Financial Centre, the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, to...

Saudi Arabia plans to invest more than US$266 billion to produce cleaner electricity and expand its power grid, the kingdom's energy minister said. Speaking at a forum organized by Saudi oil giant Aramco, Prince Abdulaziz bin Salman said the world's biggest crude exporter was also looking to become a global...

ABU DHABI, UAE - Abu Dhabi Global Market (ADGM) Monday received a French  delegation to strengthen bilateral relations through dialogues on investment opportunities and areas of collaboration in the financial field. The delegation was led by French Minister of Economy, Finance, Industrial and Digital Sovereignty Bruno Le Maire. The event...

TikTok is fighting for its survival in the US with rising calls from mainly Republican lawmakers that the company should be outright banned for its links to Beijing. Shou Zi Chew will give testimony before the House Energy and Commerce Committee after Republicans recently took over as the majority in...

Riyadh, Saudi Arabia--Aramco has signed more than 100 agreements and Memorandums of Understanding valued at around $7.2 billion to help advance an industrial ecosystem at the seventh edition of the In-Kingdom Total Value Add (iktva) Forum and Exhibition. The agreements were signed with Zoom, Taulia Inc, DHL, Ministry of Investment...

ADIB's revenue increased by 23% to US$1.8 billion in 2022.

The $15 million pact will expand YahClick's presence in Africa.

ABU DHABI, UAE - UAE Ministry of Industry and Advanced Technology (MoIAT) Monday launched the Industrial Census project, in collaboration with the Federal Competitiveness and Statistics Center (FCSC), members of the Industry Development Council, and the local statistics centers. The project aims to create a comprehensive database of all establishments...

The net profit was up 16 percent from $3.92 billion in 2021.

Mumbai, India--Gautam Adani's vast Indian business empire lost billions of dollars more in value on Monday after its rejection of claims of widespread fraud failed to reassure investors. The slump was sparked by a report by US investment group Hindenburg Research that last week alleged "brazen stock manipulation and accounting...

It suffered losses caused by a recall of faulty sleep respirators.

Dubai, UAE-- Over 2,000 cyclists from the UAE and overseas are expected to participate in the 13th edition of the "Spinneys Dubai 92 Cycle Challenge," which is qualifying for the Gran Fondo World Championship. The 92 km cycling challenge will be organized on 19th February 2023 with the support of...

The slump in the company's stocks was sparked by a report by US short-seller investment group Hindenburg Research that alleged "brazen stock manipulation and accounting fraud scheme over the course of decades". The conglomerate said it was the victim of a "maliciously mischievous" reputational attack and late Sunday issued a...

It retained lead over the rival Volkswagen for the third year.

DUBAI, UAE - The Emirates Health Services (EHS) will showcase its 19 innovative healthcare projects during Arab Health Exhibition 2023, which will be held from January 30 to February 2 at the Dubai World Trade Center. Dr. Youssef Mohamed Al Serkal, Director General of the Emirates Health Services, said that...

The bank will pay 6 fils in cash and 6% in bonus shares.

Dubai, UAE - UAE's Federal Tax Authority (FTA) started the ‘Tax Support’ initiative to raise tax awareness among UAE’s business sectors through direct and sustained contact. The step is likely to help the businesses in enhancing compliance with tax laws and regulations, WAM reported. As a result, the first workshop...

The deal will see the state-run QatarEnergy receive a minority 30 percent stake in two blocks of Lebanon's exclusive economic zone, according to Lebanese caretaker PM Najib Mikati. French company TotalEnergies and Italy's Eni will both retain 35 percent shares in the blocks.

AMMAN, JORDAN  - Confirming its role as one of Jordan’s main supporters, the European Union (EU) on Sunday signed two financing agreements with the Kingdom's Ministry of Planning and International Cooperation providing up to US$69 million (€64 million).The first agreement is financing a US$42 million (€39-million) program: "EU support to...

Doha, Qatar-- Qatar's Planning and Statistics Authority (PSA) and Microsoft have signed an MoU to support the digital transformation in the emirate. The MoU will enable the Authority to implement projects, disseminate data and statistics, and support sustainability in line with Qatar National Vision 2030. Microsoft shall provide PSA with...

Abu Dhabi, UAE-- The Chairman of the Abu Dhabi Securities Exchange Hisham Khalid Malak expects an increase in listings on the stock exchange in 2023. "We have a healthy pipeline of IPOs and listings with aspirations to surpass 2022. There will always be challenges, but also opportunities," he told media....

Earlier it was a leader in the UK domestic flights sector.

DUBAI, UAE- Dubai is fast emerging as the city of choice for destination weddings, with a growing number of event planners across the world recommending the city to couples as the perfect venue for their marriage. This is in line with the efforts aimed at boosting the emirate's stature as...

BAGHDAD, IRAQ -  First Deputy Speaker of Parliament Mohsen Al-Mandalawi said that the tourism sector in Iraq has all the ingredients for success. Al-Mandalawi made the statement while meeting with the Association of Travel and Tourism Companies in Iraq, a statement issues by the  media office of the First Deputy...

DUBAI, UAE - Dubai Electricity and Water Authority’s ( ) virtual employee ‘Rammas’, which uses Artificial Intelligence (AI), answered over 6.8 million enquiries since its launch in the first quarter of 2017 until the end of December 2022. Saeed Mohammed Al Tayer, MD and CEO of DEWA, said that DEWA...

Riyadh, Saudi Arabia--The Saudi Ministry of Investment has signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology at Riyadh Global Medical Biotechnology Summit 2023, the Saudi Press Agency reported Friday. The MoUs were signed in the...

On a monthly basis, the deposits grew by 0.06 percent.

Shored up by healthcare, financial services, banking sector, and raw material companies, the Saudi equities posted gains throughout the weeks.

Continuing with this week's losses to $45 billion after a US investment firm claimed it had committed "brazen" corporate fraud, shares in the business empire of Asia's richest man Gautam Adani fell down on Friday. He began the week as the world's third-richest man but now has dropped down the...

Abu Dhabi, UAE - As part of the pan-Arab efforts to implement the joint Arab digital economy vision, launched by UAE President Mohamed bin Zayed Al Nahyan, an MoU was signed to establish an Arab Digital Foodstuff Market. Ahmed Abu Al Gheit, Secretary General of the League of Arab States...

Baghdad, Iraq - Iraq's Minister of Electricity, Ziyad Ali Fadel said the national grid has lost 7,500 megawatts in the past days due to curtailed Iranian gas imports which led to a decline in processing hours. He said the memorandum of understanding signed with the German company Siemens will lead...

The second round is a continuation of the first round negotiations, which were organized in Rabat, Morocco, in November 2022

Abu Dhabi, UAE– The General Administration of Abu Dhabi Customs has announced the provision for the possibility of clearing goods for non-resident individuals and non-registered companies from outside the UAE through Abu Dhabi's land, sea, and air outlets. This move aims to facilitate customer experience, reduce effort and time, and...

The MoU is aimed at improving services at kingdom's airports.

The company reported a big drop in profits in 2022.

LVMH is headed by French billionaire Bernard Arnault.

Rome, Italy-- The Saudi Export-Import Bank has signed a memorandum of understanding with the Italian Export Credit Agency (SACE) which aims to empower Saudi exporters and international investors and enhance the Saudi-Italian trade exchange.The MoU was signed by EXIM Bank CEO Eng. Saad bin Abdul Aziz Alkhalb and SACE CEO...