Abu Dhabi, UAE--UAE stocks generated strong cash flows Monday, with market liquidity surpassing $272 million. International Holding Company (IHC) and Dubai Electricity and Water Authority (DEWA) topped the market in terms of number of transactions. The Abu Dhabi Securities Exchange (ADX) gained $241.25 million in liquidity, as compared to the...

Doha, Qatar-- Inflation in Qatar is expected to fall in 2024, according to Ali bin Ahmed Al Kuwari, the Minister of Finance. In a press conference on Thursday, the minister said that the inflation witnessed in Qatar in 2023 was temporary and associated with a specific period and reasons, such...

The CEPA will cover trade in goods and services, investment facilitation amongst others. Once implemented, it will accelerate robust growth in non-oil bilateral trade between the UAE and Mauritius, which in H1 2023 stood at US$63.1 million, with opportunities strongest in chemicals, metals and petroleum products sectors.

Dubai, UAE--Arabian Travel Market (ATM) has entered into a partnership with the International Congress and Convention Association (ICCA) and the Global Business Travel Association (GBTA) for the upcoming edition of the event, which takes place from 6th to 9th May 2024 at the Dubai World Trade Centre. The global organisations...

It is an antitrust settlement made public recently.

Dubai, UAE--A Hamas official on Monday said one of the group's tunnels revealed by the Israeli army in Gaza had "successfully" accomplished its mission, downplaying the Israeli announcement of its discovery. On Sunday the Israeli army showed images of what it said was the biggest Hamas tunnel uncovered so far...

Abu Dhabi, UAE-- Kings Aluminium Industries has begun constructing a state-of-the-art aluminium manufacturing and recycling facility in Khalifa Economic Zones Abu Dhabi (KEZAD Group), the largest operator of integrated and purpose-built economic zones. With a total investment of $204.22 million by Kings Aluminium Industries, the facility in KEZAD will be...

The IMF said the debt relief will facilitate access to additional financial resources that will help it strengthen economy, reduce poverty, and promote job creation. Somalia is one of the poorest in the world, struggling to recover from decades of civil war, and with 70% of its population living on...

Dubai, UAE--Nasdaq Dubai has welcomed the first Sukuk listing by the Republic of the Philippines, "ROP Sukuk Trust", underscoring the exchange's reputation as the preferred choice for sovereign issuances. The Republic of the Philippines has chosen Nasdaq Dubai to list its maiden sukuk worth US$1 billion of Trust Certificates due...

The drugmaker will complete its US$43bn buyout this week.

Dubai, UAE-- Protecting nature could avert global economic losses by 2030 of US$2.7 trillion per year, or 2.3 percent annually, according to Valerie Hickey, Global Director for Environment, Natural Resources and Blue Economy at the World Bank. Speaking to media at COP28, she said that low-income countries could lose around...

Tehran, Iran--Trade between Iran and Russia has climbed 18 percent to US$1.7 billion in the first eight months of 2023. This was stated by the chairman of the Iranian Customs Administration Mohammad Rezvani, noting that the Iran Iran-Russia trade recorded $1.7 billion in the first eight months of this year...

Dubai, UAE--The Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund) announced at COP28 that more than 70% of its funding, equivalent to more than $9 billion, will be spent over the next three years in favour of the countries most affected by climate change, with the aim of...

It received more than US$41 billion in investor orders.

It will pour US$3.4bn into the new venture this decade.

Tehran, Iran--Iran’s export to African countries in the first seven months of the current Iranian calendar year registered a 185 percent hike compared to the same period in 2020, an official said. Iran’s direct and indirect exports to the African continent in the administration of President Ebrahim Raeisi have significantly...

Billions of dollars are being invested into ventures to grow food in the GCC to make the arid, hot region self-sufficient, in a sector vulnerable to the vagaries of war, climate and disease.

Dubai, UAE-- With its financing packages for the renewables sector to support the transition to clean and sustainable energy sources, Emirates Development Bank (EDB) underscores its commitment to driving the development and growth of solar power adoption across the emirates. The bank, in line with the UAE Energy Strategy 2050...

Its income for the first nine months of 2023 is US$816m.

It posted a 189% jump in revenue in Q3 to US$1.15bn.

The expected injection of billions of dollars into the retail business through sale of varied items can turn out to be a much-needed boost for a sector experiencing "sales fatigue."

The expected injection of billions of dollars into the retail business through sale of varied items can turn out to be a much-needed boost for a sector experiencing "sales fatigue."

The company posted an operating profit of US$1bn.

It posted a five-percent decline in revenues to US$367m.

The company recently reported a net loss of US$4.9bn in Q3.

Riyadh, Saudi Arabia-- Foreign direct investment (FDI) into Saudi Arabia amounted to $32.52 billion in 2022, revised upwards from $8 billion figure that had been published previously. According to SPA, the updated figure is a result of a new framework methodology for publishing FDI data in the kingdom which was...

Dubai, UAE-- The UAE is a key market for French businesses due to its strategic location as a hub and gateway to the entire region, said Axel Baroux, the French Trade Invest Commissioner to the UAE and the Regional Director of Business France in the Middle East. Speaking to the...

Its revenue stood at US$323m in the first nine months of 2023.

It posted an 11% jump in net revenue to US$890 million.

Abu Dhabi, UAE--PureHealth has joined hands with Dell Technologies to utilise generative artificial intelligence (AI) across healthcare services including in early disease detection, medical data analysis and personalised treatment plans, further enhancing the health ecosystem in Abu Dhabi. The collaboration will harness the collective resources and technologies of both companies...

Abu Dhabi, UAE--The UAE and Jordan have signed a memorandum of understanding (MoU) to create a framework for investment cooperation in key areas including infrastructure and development projects, while further strengthening the two countries’ enduring strategic partnership. The agreement was signed between the Ministries of Investment of the UAE and...

European clubs owned by Arabs continue to dominate the rankings, with Sheikh Mansour bin Zayed-owned Manchester City standing at the top with a market value of US$1.34 billion.

Its revenue rose to US$4.72bn in the first 9 months of 2023.

Its revenues grew 3.7% to US$896 million in the quarter.

Its pre-tax profit more than doubled to US$7.7bn.

RAS AL KHAIMAH -- Durar, a prominent UAE real estate developer, is set to launch MASA Residences, a luxury residential development in Ras Al Khaimah. This $190.58 million project, with interiors by YOO inspired by Starck, marks Durar's entrance into the UAE's Northern Emirates and is poised to elevate Al...

Its earnings fell to US$6.5bn, down from $11.2bn last year.

The carmaker's net profit plunged 7% to US$3.9bn in Q3.

The bank's operating income rose 23% to US$3.32 billion.

Abu Dhabi, UAE-- Trade between the UAE and Zimbabwe touched $2 billion last year as the bilateral relations between the two countries have strengthened in recent years. According to Lovemore Mazemo, ambassador of Zimbabwe to the UAE, the trade relations between the two countries are poised to grow further. The...

Riyadh, Saudi Arabia--The Public Investment Fund (PIF) and Hyundai Motor Company (Hyundai) have signed a joint-venture agreement to establish an automated vehicle manufacturing plant in Saudi Arabia. PIF will hold a 70% stake in the new joint venture with Hyundai holding the remaining 30%. Hyundai will also act as a...

Its Q3 revenue posted a 24 percent jump to US$96 million.

Abu Dhabi, UAE--Kazakhstan is keen to expand trade ties with the UAE, setting a target of $1 billion in mutual trade. Speaking to a media outlet in Abu Dhabi, Arman Shakkaliyev, Minister of Trade and Integration of the Republic of Kazakhstan, said: ‘’We got some great plans to unlimit our...

The automaker made sales to the tune of US$83.5bn in Q3.

Its revenues rose 77% to US$92m in the same period.

It took the decision after posting a drop in Q3 profits.

Manama, Bahrain--Bahrain Economic Development Board (Bahrain EDB) has attracted $295 million in direct investments within the Information and Communications Technology (ICT) sector as part of a total projected direct investment worth $1.4 billion, during the first nine months of 2023. Stemming from 14 local and international projects, the direct investments...

Its net profit rose to US$9.53m in the first nine months of 2023.

Cairo, Egypt--Egypt has issued the first sustainable Panda bonds in the Middle East and North Africa worth $500 million with a yield of 3.5% over three years, according to a statement by the Ministry of Finance. The recent bond issuance is guaranteed by international banks including the Asian Infrastructure Investment...

The company's profit swelled to US$327 million in Q3 of 2023.