Its sales in China slumped 35% from April to December.

Abu Dhabi, UAE--The total public expenditure of Arab countries combined jumped by 9.8% to $957.5 billion in 2022, compared to $878.9 billion in 2021, according to the Arab Monetary Fund (AMF). AMF, in its Joint Arab Economic Report, explained that current expenditure in Arab countries increased by about 9.9% to...

Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a key transportation link in Uganda. The rehabilitation of the Katine-Ochero road will provide better, faster and safer transport connections in the central-east region of the country. The project is co-financed...

The company's profit surged to US$6.8bn last year.

Its earnings were US$36.2bn, half of what is was in 2022.

The parliament ratified by a huge majority of 92 votes out of 133 an amendment to an article that prohibited the central bank from financing the public treasury. The new measure allows the central bank to lend the state US$2.2 billion to be repaid without interest in 10 years after...

The acquisition of 44% stake is valued at US$211.20 million.

The company's revenue for the year 2023 stood at US$16.33bn.

For EU leaders, it is their way or the highway as the wealthy, powerful bloc seeks to tame opposition and browbeat defiant countries and individuals into submission.

The value of certificates of origin issued stood at US$65m.

The company said it posted a net profit of US$227.4 million.

But its sales in China dropped during October to December.

It made record profit on the back of higher interest rates.

Its board has proposed a cash dividend of US$76.24m.

Its operating profit for Q4 was US$2.1bn.

It will invest US$169m to develop new capacity.

It posted losses to the tune of US$502m during the year 2023.

The company's capital now stands at US$266 milion.

Cairo, Egypt-- Egypt has enough reserves of wheat to last it for many months, according to Dr. Ali Al-Moselhi, the Egyptian Minister of Supply and Internal Trade. The minister said the country's reserves of wheat are sufficient for 4.2 months, oil for 5.3 months, and sugar for 5.4 months. He...

Hong Kong-- The global Islamic finance market would touch US$4.9 trillion by 2025, according to Yazrin Syakhairi, Malaysian Trade Commissioner at the Consulate General of Malaysia in Hong Kong. Speaking on the sidelines of the Asian Financial Forum (AFF) in Hong Kong, Syakhairi told the Emirates News Agency (WAM) that...

It grounded the Boeing 737 MAX after in-flight safety episode.

Hong Kong--Non-oil foreign trade value between the UAE and Hong Kong expanded in the past year, reaching $16.2 billion in the first 11 months of 2023. According to Dr. Patrick Lau, Deputy Executive Director of the Hong Kong Trade Development Council (HKTDC), the United Arab Emirates has solidified its position...

Dubai, UAE--DMCC has kicked off the ninth edition of its global trade roadshow, Made For Trade Live, in London, seeking to attract a greater amount of foreign direct investment (FDI) from the United Kingdom. DMCC is the world’s flagship free zone and Government of Dubai Authority on commodities trade and...

It has shrugged off geopolitical tensions to post high profits.

Its net profit fell 10.24% to US$59.07 million in 2023.

New Delhi, UAE--India's stock market has edged out Hong Kong to become the world's fourth-largest, a milestone that underscores growing global investor optimism about New Delhi's economic prospects, Bloomberg said Tuesday. The total value of shares listed on Indian exchanges hit $4.3 trillion on Monday, slightly higher than Hong Kong's...

It will engage in the import and trading of oil products.

Kwon, who co-founded Terraform in 2018, was arrested last year in Montenegro and is awaiting extradition to the United States or South Korea. The collapse of the Singapore-based firm's TerraUSD and Luna wiped out around $40bn in investments and caused wider losses in the global crypto market estimated at more...

The Saudi giant will develop the US$6.4bn plant in Fujian.

It pulled out of the US$10bn merger of its Indian operations.

The sustainable sukuk is worth US$500 million.

It will meet growing demand for internet services in the region.

It posted a 31% jump in net profit to US$229.13m in 2023.

Muscat, Oman--The Oman Investment Authority (OIA) has unveiled a new fund called “Future Fund Oman” valued at US$5.19 billion. The fund will serve a wide range of investment categories, develop the national economy and attract foreign investments. According to the Oman News Agency (ONA), According to the Oman News Agency...

Beijing, China--China's economy is likely to pick up the pace and grow steadily in 2024 after a bumpy recovery last year, propelled by the gradual increase in domestic demand and with more stimulus policies in the offing, China Daily reported, citing officials and economists on Wednesday. Economists said the country...

It posted a 7.5% jump in net profit to US$1.18bn last year.

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to $182.43 billion at the end of November 2023, marking a significant surge in its financial strength. This impressive growth is revealed in the bank's latest balance sheet report. The report highlights a robust...

The country's national bureau of statistics said that GDP grew 5.2 percent to hit 126 trillion yuan ($17.6 trillion) as the country battled a crippling property crisis, sluggish consumption and global turmoil. Official GDP figures remain a key source of insight into the health of the world's second-largest economy.

The tech giant's market value has surged by over $1 trillion.

Doha, Qatar--Qatar and Czech Republic are looking to ramp up trade and investment cooperation between the two countries. In this regard, Qatar Chamber Acting General Manager Ali Saeed Bu Sherbak Al Mansouri met here on Sunday with CEO of the Czech Trade Promotion Agency (CzechTrade) Radomil Dolezal. The meeting took...

The developer will expand business in Dubai, Abu Dhabi.

The tech giant forecasts profit to fall to US$2.1bn for Q4.

Manama, Bahrain--The Central Bank of Bahrain (CBB) announced that the monthly issue of the Sukuk Al Salam Islamic securities has been oversubscribed by 372%. Subscriptions worth $426 million were received for the $114.36 million issue, which carries maturity of 91 days. The expected return on the issue, which begins on...

It is part of the company's planned US$2bn investment.

Riyadh, Saudi Arabia-- The Saudi Ports Authority also known as Mawani strengthened the maritime and logistics sectors with an investment of US$3.46 billion during 2023, contributing to the kingdom's growth in international indicators and solidifying its position as a global logistics center. In order to enhance the attractiveness of Saudi...

Doha, Qatar--The Qatar Development Bank's Export Development and Promotion Agency (Tasdeer), a subsidiary of the Qatar Development Bank, announced an increase in Qatari exports to its clients by over $412 million during 2023. In a statement released today, the agency highlighted its participation in eight international exhibitions over the past...

Dubai, UAE--Bitcoin stormed above $45,000 on Tuesday for the first time since April 2022. Bitcoin touched a 21-month peak of $45,532, having gained 156% last year in its strongest yearly performance since 2020. It was last up 2.5% at $45,318 but remains far off the record high of $69,000 it...

The fabrication unit will cost the firm US$5.44m.

Manama, Bahrain--National accounts estimates issued by the Information eGovernment Authority of the Kingdom of Bahrain showed that the real GDP of the Kingdom increased by 2.45% at constant prices and by 1.09% at current prices during the third quarter of 2023 compared to the same period in 2022. Bahrain News...

The US$3m-contract is for the laying of GRE pipes in Hatta.