Venture capital investments in Saudi Arabia have posted a staggering 244 percent increase to $584 million in the first half of 2022.

The profit declined to $114m with its stock sliding too.

Abu Dhabi and Dubai stock markets climbed up, while the Saudi index tanked down by more than 1.1 percent this week, after being shut to mark the festival of Eid al-Adha.

Recession worries pushed the price of Brent oil briefly back under $100 on Wednesday, and the euro moved closer to parity with the dollar. European stocks rebounded thanks to lower bond yields and bargain hunting, while US stocks also advanced, climbing after Federal Reserve minutes maintained a tough line on...

During the first half of the current year, startups in the Middle East have succeeded in raising $1.8 billion, according to a MAGNiTT report. The fintech sector remained the most capital attracting sector, raising nearly $1.7 billion and accounting for 34 percent of the total funding secured across all markets....

The Saudi firm earned $8m in profit in the last three months.

Global oil prices may hit $380 a barrel if Russia were to announce crude oil cuts in response to the US and European curbs.

Saudi Arabia has consolidated its position in the Arab world as the largest economy, posting a domestic output of $833.5 billion last year, the equivalent of 29.7 percent of the entire Arab region.

The Gulf Cooperation Council (GCC) and the UK began negotiations in Riyadh to boost trade, which stands at $34 billion.

The head of Qatar Airways on Tuesday accused plane-maker Airbus of acting like a "bully" as their billion-dollar dispute over peeling paint looked no closer to a resolution.

Bitcoin plunged below $20,000 on Saturday, shedding nine percent from the previous day to fall to $18,740, its lowest level since December 13, 2020. The value of the global crypto market fell below the symbolic $1 trillion mark on Monday after reaching $3 trillion in November of last year.

The Saudi firm's IPO was priced at $4.8 per share.

Google said on Sunday that it was "very pleased" to be settling, without admission of wrongdoing, a class-action lawsuit that argued it underpaid female employees and assigned them lower-ranking positions. The $118 million settlement covers about 15,500 female employees who have worked for the company in California.

Pakistan's new government, grappling with soaring inflation and political unrest, unveiled a 9.5 trillion rupee ($47 billion) budget Friday, earmarking more than 40 percent to service the country's massive foreign and domestic debt.

Saudi Arabia has awarded the building of a five-kilometer-long tunnel in the city of Madinah to a Chinese construction firm, to be built at the cost of $974 million. The project also involves the construction of a pedestrian bridge. Al-Amida road will serve as an alternative to the current ring...

The Saudi firm plans to invest $91m in Egypt.

ADQ of Abu Dhabi and Jordan have set up a $100 million technology venture capital fund (the Fund) to bolster tech companies in the kingdom's digital economy. ADQ is reinforcing its commitment to investing in advancing core sectors of the Jordanian economy and enhancing the global technology ecosystem. The Fund...

Twitter will yield to Elon Musk's demand for internal data central to a standoff over his troubled $44 billion bid to buy the platform, US media reported on Wednesday. The news comes just days after the Tesla chief threatened to back out of his deal to purchase Twitter.

Saudi ACWA Power Co. has signed a power purchase agreement with Saudi Power Procurement Co. for the Layla PV Solar project worth $107 million.

A day after the arrest of a British national in Dubai over a $1.7 billion dividend tax fraud case in Denmark, the UAE has said it will continue to pursue people involved in financial crime. Abdullah bin Sultan bin Awad Al Nuaimi, Minister of Justice said: "International crime requires an...

Egypt is expecting to rake in $3.5 billion in revenues from the Suez Canal during the first half of 2022, according to Osama Rabie, the chairman of the Suez Canal authority. 

Saudi Arabia's finance companies have provided a whopping $18.96 billion in personal finance loans to the kingdom's citizens during the first three months of the current year, posting a 4.4 percent jump over the previous quarter.

The firm will supply pipes to Saline Water Corporation.

Egypt has set its eyes upon doubling exports to $100 billion in the next few years, and building a 'strategic stockpile' of all major commodities to cope with emergencies. Speaking to media Mostafa Madbouly, Prime Minister of Egypt, said : "Today, we witness, through the launch of Industrial partnership for...

The UAE and US economic ties are expected to grow in healthcare, energy sustainability, space, and digital economy, with the bilateral trade touching $22 billion between the two countries.

Saudi Arabia's non-oil exports surged to $7.52 billion in March 2022, according to  the General Authority for Statistics, also known as GASTAT. Non-oil exports excluding re-exports rose by 22.4 percent year-on-year. On a monthly basis, non-oil exports also grew by S3.2 billion, or 12.8 percent. Oil exports, which includes crude...

Elon Musk notified US regulators on Wednesday that he will rely less on loans in his bid to buy Twitter, as he and partners put $33.5 billion into the deal. Musk has been courting major Twitter investors in the hope of getting them to partner with him in taking the...

A slew of celebrity endorsements helped inflate a multi-billion dollar bubble around digital tokens over the past year, but cryptocurrencies are crashing and some fear NFTs could be next.

A 1955 Mercedes-Benz, one of only two of its kind, was auctioned off earlier this month for a whopping $143 million, making it the most expensive car ever sold.

Billionaire Elon Musk said Tuesday his bid to buy Twitter won't proceed unless he gets proof of the number of spam accounts plaguing the platform, adding more uncertainty to his roller-coaster pursuit of the social media giant. Hours after Musk's early morning tweet over bots, Twitter insisted the deal push...

May Nasrallah, founder of deNovo, tells TRENDS the new listings on GCC bourses have spawned a new chapter in regional listings, ending years of drought.

Defying grim expectations of economic recession battering the world economy, Dubai has burnished itself by attracting a heavy dose of foreign investment to the tune of $7bn in 2021.

It bought a 9.8% stake for $4.4bn in the British firm.

Iraq has agreed to pay $1.6 billion in debt to Iran by June 1 to secure a steady gas supply for power generation through the summer, its electricity minister said.

Japanese investment giant SoftBank Group on Thursday logged a record annual net loss after a bruising year that saw its assets hit by a US tech share rout and a regulatory crackdown in China. The company reported losses of 1.71 trillion yen ($13.2 billion) in the year to March 2022.

The UN will ask for $80 million in donations in order to remove nearly a million barrels of oil on a stranded supertanker off the coast of Yemen.

Saudi Arabia has okayed six tourism projects to the tune of $400 million in the first quarter of 2022.

Chelsea confirmed on Saturday that a consortium led by LA Dodgers co-owner Todd Boehly has won the battle to buy the Premier League club in a £4.25 billion ($5.2 billion) deal.

Pfizer reported another quarter of huge revenues growth because of its Covid-19 vaccine on Tuesday, but lowered the company's full-year profit forecast due in part to shifts in foreign exchange. The major American drugmaker reported revenues of $25.7 billion for the first quarter, up 77 percent from the year-ago period.

India seized $725 million from the local bank accounts of Xiaomi after a probe found the Chinese smartphone giant unlawfully sent money abroad in the guise of royalty payments, authorities said Saturday. The firm's India office was raided in December in a separate investigation over alleged income tax evasion.

Saudi Arabia's drive to lure more foreign investment into the kingdom's stock exchange paid off as foreign ownership touched $70 billion in 2021.

Dubai has set up a $100 million venture capital fund in order to provide financial support to fintech startup companies. The fund, scheduled to be launched in June 2022, was approved by Crown Prince of Dubai, Sheikh Hamdan bin Mohammed, after a meeting with the executive council.

DEWA has no intention to sell more stock, after having raised $6.1 billion in a record initial public offering, the CEO of the Dubai Electricity and Water Authority, Saeed Al-Tayerm, told the media. It is also eyeing 7.4 billion dirhams ($2 billion) in 2023 profit, amid a prospective IPO of...

The exports were driven mainly by chemical products which jumped 80 percent year-on-year with a share contribution to total non-oil merchandise exports of 35.7 percent.

The Saudi developer reports $37m net profit in Q1.

ADX, Abu Dhabi stock exchange, has rebranded its Second Market into a newly launched Growth Market, with a market cap of 62 billion dirhams ($17 billion), in a push for more privately-owned business listings. ADX said in a statement that as it replaces the Second Market, the Growth Market will...

Dubai Investments Co. has earned 50 million dirhams ($258 million) from the Emicool deal it concluded earlier. According to the company’s CEO, Khalid bin Kalban, the company will use the funds in debt reduction, paying exceptional profits to shareholders and making further investments. The company sold a 50 percent stake...

A rare rough ruby dubbed one of the world's biggest has gone on display for the first time ahead of an auction in Dubai.

The Saudi dairy company recorded 9% jump in net profit.

The Dubai Electricity and Water Authority said Wednesday it had raised $6.1 billion for the Gulf's second-largest IPO since 2019. Some nine billion shares will be listed from April 12 on the Dubai stock exchange, with the price set at $0.68.