Its net profit jumped to US$77.19m as against US$37.63m.

Riyadh, Saudi Arabia--The Saudi National Debt Management Center (NDMC) has issued new sukuk worth $9.57 billion under the Local Saudi Sukuk Issuance Program, in addition to an early purchase of more than $9.52 billion. In a statement carried by the Saudi Press Agency (SPA), NDMC outlined that such a step...

Its net profit rose to US$4.14m as against US$3.96m last year.

Abu Dhabi, UAE--The UAE has applauded the UN for the successful unloading of oil from the deteriorating tanker, FSO Safer, situated off Yemen's coast in the Red Sea. The Ministry of Foreign Affairs (MoFA) lauded the collective efforts of the United Nations, its Secretary-General Antonio Guterres, the Coalition to Restore...

RIYADH, SAUDI ARABIA – Prince Abdulaziz bin Salman and Agnes Pannier-Runacher, Minister for Energy Transition of the French Republic met and issued a joint communiqué: The Government of the Kingdom of Saudi Arabia and the Government of the French Republic acknowledge that energy is one of the main pillars of...

Baghdad, Iraq--Iraq has restored access to the popular messaging app, Telegram, on Sunday after a week-long ban. The ban, which took effect on August 6, was enforced after concerns arose regarding breaches of national security. The government cited the leaking of state-owned private documents and the protection of citizens' personal...

Doha, Qatar--Qatar Central Bank (QCB) has exhorted companies willing to work in providing website services to compare prices of insurance policies to promptly submit applications to receive the required license from the bank. In a statement on Saturday, QCB outlined that this announcement comes in alignment with financial sector and...

Until April 15, when the conflict erupted between the army headed by General Abdel Fattah al-Burhan and Mohamed Hamdan Daglo's paramilitary Rapid Support Forces, Seif had worked at a Khartoum university. Now the engineering lecturer and his family live in Wad Madani, In order to survive, he has started selling...

Taif, Saudi Arabia-- Cristiano Ronaldo led his team to victory as Al-Nassr FC won the 2023 King Salman Club Cup for the first time in its history, defeating Al-Hilal 2-1 on Saturday evening The team lifted the title after extra time despite playing for more than an hour with just...

Saudi Arabia, which has pioneered the development of smart cities in the region, plans to establish more than 200 smart cities.

Jeddah, Saudi Arabia--Brazilian forward and former Liverpool star Roberto Firmino hit a hat-trick on his Saudi Pro League debut on Friday as Al- Ahli defeated Al-Hazem 3-1. The 31-year-old skipper found the net in the sixth, 10th and 72nd minutes for the promoted team who also fielded fellow new signings Riyad...

The American network will launch the deal with broadcasts of two games on Monday featuring Ronaldo and Karim Benzema. Fox's deal was for 100 matches this season and for both English and Spanish language rights. The matches will feature on Fox Sports 2 and Fox Deportes as well as Fox...

The Kazakh minister said his country hopes to benefit from the UAE's experience in tourism and development sectors as he affirmed Kazakhstan's objective to add more facilities and resorts to its tourist attractions. He noted how Astana, the capital, has become a suitable destination for investment, especially in the tourism,...

It posted gains in one week on the back of company results.

PARIS, FRANCE - The International Energy Agency said Friday it had revised upwards its forecast for global oil demand growth in 2023 as demand is "scaling record highs". World oil demand already hit a record 103 million barrels per day in June and August and "could see yet another peak", the...

This performance will be delivered through constant contributions from the non-oil sector, especially from tourism, leisure and real estate. The OPEC Monthly Oil Market report for August said the country's Global Purchasing Managers’ Index (PMI) was almost unchanged in July, standing at 56, following 56.9 in June and compared to...

Alibaba's revenue amounted to 234.1 billion yuan ($32.5 billion).

Disney+ finished the quarter with 146.1 million subscribers, compared with just shy of 158 million in the first three months of this year, the group said. All but a sliver of the loss in Disney+ subscribers took place in India, where the entertainment titan early this year lost rights to...

Dubai, UAE-- More than 15 million people visited Dubai Municipality public parks, neighborhood parks, lakes, and recreational facilities for the first time during the first half of 2023. It marks a 50 percent increase in the same period of 2022, which recorded approximately 10 million visitors. Visitors to parks and...

Riyadh, Saudi Arabia--The Saudi Export Development Authority organized a trade mission to Japan under the theme of "Saudi Made" in Tokyo on Tuesday. The mission comes as part of the Saudi Export Development Authority efforts aimed at developing non-oil Saudi exports, stemming from its role in promoting exporters and their...

Its net profit for H1 of 2023 stood at US$11.70 million.

Abu Dhabi, UAE - A record 2.4 million tourists visited the UAE during the first six months of 2023, a report by the Department of Culture and Tourism – Abu Dhabi said. Also, the numbers marked an increase of around 34 percent compared to the same period during last year....

Tehran, Iran-- In a defiant posture toward the West, Russia has declared that it will continue to enhance military cooperation with Iran, despite what it termed as enemies' opposition to the ties between the two countries. Deputy Foreign Minister of Russian Federation Sergei Alexeyevich Ryabkov said that the military cooperation...

Muscat, Oman--Looking to address its mounting debt, Oman Air has backed a restructuring program to reduce its losses by 15 percent in the ongoing fiscal year while aiming to reach a break-even point by 2026.   The airline in May made a forecast of reducing its net loss by a further...

Sharjah, UAE--The Real Estates Sector Business Group has discussed with the Sharjah FDI Office (Invest in Sharjah) ways to promote lucrative real estate investment projects in Sharjah and invigorate the local real estate sector. The meeting looked into ways to benefit from the Sharjah FDI Office's expertise to promote real...

The dollar remained steady with talk of yet another US interest rate hike, while oil prices retreated following disappointing Chinese trade data. Analysts warned that while the US economy remained in rude health after more than a year of rate hikes, fears of recession remained.

The transportation and storage sector was the biggest contributor to overall growth at 48 percent. This was followed by the financial and insurance sector, which accounted for 15 percent, and trade at 10 percent, according to data issued by the Dubai Data and Statistics Establishment of the Dubai Digital Authority.

Abu Dhabi, UAE-- In a boost to the UAE's effort to secure self-sufficiency in the food sector, ADQ has partnered with Safe Haven Solutions, a Netherlands-based climate-smart agriculture solution provider, to construct a high-tech greenhouse at ADQ’s AgTech Park in KEZAD. The automated 10-hectare facility will leverage advanced agricultural technology...

The drop in exports was bigger than expected and the heaviest since a 17.2 percent plunge in January-February 2020, when the economy came to a standstill in the early weeks of the Covid-19 pandemic. Apart from a brief rebound in March and April, exports have been in constant decline since...

The Qatari company's net profit for H1 stands at US$211.26m.

The company suffered a net loss of US$0.79 million.

Dubai, UAE--Dubai Taxi Corporation (DTC) has launched its strategic plan for digital transformation 2022-2025 designed to improve the quality of the service it provides to customers. The plan seeks to accomplish a host of strategic goals highlighted by digital mobility, excellent operation, financial sustainability, people’s happiness, and shaping the future....

The oil company's profits fell sharply to US$30.08 billion.

Its net profit jumped 1.1 percent to US$178 million.

Muscat, Oman-- Oman's total domestic production of natural gas shot up 2.3 percent to 26.19 billion cubic meters (CBM) until the end of June 2023, as compared to the same period in 2022, when the total amounted to 25.60 billion cubic meters. Statistics issued by the National Center for Statistics...

Jeddah, Saudi Arabia-- More than 40 representatives of countries from around the world gathered in Jeddah, pledging to continue holding consultations that could pave the way for peace in Ukraine and end the deadly war. A meeting was held in Jeddah for national security advisors and representatives from over 40...

Riyadh, Saudi Arabia-- Looking to boost leisure, business and religious travel to the kingdom, Saudi Arabia will grant visitor e-visa to travelers from eight newly-eligible countries: Albania, Azerbaijan, Georgia, Kyrgyzstan, Maldives, South Africa, Tajikistan, and Uzbekistan. Nationals of these countries can apply for a Saudi visitor visa ahead of their...

Dubai, UAE -- The United Arab Emirates Sunday launched Ministry of Finance's Strategic Plan 2023-26 aimed at accelerating government performance through financial empowerment, sustainability, innovation and future foresight, financial leadership and sustainable development. Deputy Ruler of Dubai and Minister of Finance Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, who...

The investments are expected to localize partnerships.

Amman, Jordan--Trade between Jordan and Egypt expanded to $355.43 million in the January-May period of the current year, according to official figures. However, foreign trade data issued by the Department of Statistics (DoF) indicated that the national exports to Egypt in the first five months of 2023 dropped to reach...

Riyadh, Saudi Arabia-- Saudi Arabia has signed a $77 million loan agreement with Belize to set up a solar power plant in the Central American country. In this connection, the CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, today signed a loan agreement with the Prime...

Tokyo, Japan--Japan's crude oil imports from the United Arab Emirates amounted to 25.63 million barrels in June 2023, or 37.4 percent of total imports, the Natural Resources and Energy Agency of Japan's Ministry of Economy, Trade and Industry said. During June, Japan's total crude oil imports were 68.5 million barrels,...

BUENOS AIRES, ARGENTINA- The Argentine government said it will use a loan from Qatar amounting to $775 million to make a payment to the International Monetary Fund as it awaits approval of a disbursement from the IMF for $7.5 billion. The credit operation would allow Qatar to lend Argentina Special Drawing...

A US central bank official said that more interest rate hikes "will likely be needed" to bring inflation down further, shortly after policymakers lifted rates to the highest level since 2001. Federal Reserve governor Michelle Bowman said she supported the policy-setting Federal Open Market Committee's decision for a rate hike...

New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement for India’s foreign and trade policy,” India's Minister of State for External Affairs, Dr. Rajkumar Ranjan Singh, told Lok Sabha, the lower House of India’s Parliament yesterday. He was answering...

Manama, Bahrain-- Looking to develop the e-commerce sector in the kingdom, Bahrain's Ministry of Industry and Commerce has published a survey to evaluate consumer satisfaction in the e-commerce sector in response to the growing volume of e-commerce transactions. These efforts come from the Information Systems Directorate and the Consumer Protection...

Dubai, UAE--Oil prices soared more than a dollar a barrel on Friday to record a sixth consecutive week of gains, after top producers Saudi Arabia and Russia extended supply cuts through September, adding to undersupply concerns. Brent crude futures rose $1.10, or 1.3%, to settle at $86.24 a barrel, while...

Hundreds of protestors marched alongside victims' families demanding long-awaited justice as the country marked three years since one of history's biggest non-nuclear explosions rocked Beirut. So far nobody has been held to account for the tragedy as political political and legal pressures hamper the investigation.

Abu Dhabi, UAE-- In 2022, Emiratis represented 74% of the Federal Authority for Nuclear Regulation (FANR) 248 employees. FANR continues to attract talented Emiratis to meet its business needs, recruiting an additional 22 Emiratis during the review period, according to FANR 2022 Annual Report. It provides long-term career opportunities for...

Real estate sector remains one of the key business verticals.