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Geopolitical tensions boost oil, weigh on equities
Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest rate cuts amid stubbornly-high inflation. "Heightened tensions between Ukraine and Russia have brought a halt to the rally in equity markets seen last week," said Russ Mould, investment director at...
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Air France-KLM posts profit
The airline reported record revenue of US$32.49bn in 2023. -
Tech revolutionizes professional landscape for women
Women First Jobs offers tailored solutions for women in the UAE, overcoming societal norms and unequal access to opportunities, says its CEO Priyanka Sengar. -
Boursa Kuwait posts $51m net profit
Operating profit for 2023 was recorded at US$59 million. -
European stocks firm as markets await US inflation data
London, United Kingdom - Europe's main stock markets steadied Friday as traders reacted to more earnings updates from top companies, while awaiting revisions to US inflation data. Asia saw holiday-thinned trade, with investors there struggling to build on another record-setting day on Wall Street. "Today sees things slow down after a... -
Norway’s sovereign wealth fund posts record US$213bn profit
Oslo, Norway - Norway's sovereign wealth fund, the world's biggest, said Tuesday it raked in a record profit of 2.2 trillion kroner ($213 billion) last year, driven by tech stocks and a weak national currency. The fund's total value reached close to 15.8 trillion kroner last year. The 16.1 percent return... -
Asia stocks track global losses as traders step back after rally
Hong Kong, China - Asian markets fell Wednesday in line with a sell-off across most of the world as traders took their cash off the table after a blockbuster end to 2023, with eyes now on the release this week of Federal Reserve minutes and US jobs data. Equities surged in... -
Cerberus buys HSBC France retail
The takeover was finalized for an undisclosed amount. -
Andalusia Labs secures $48m funding
The company deals in risk management infrastructure for digital assets. -
Major equity markets up, oil dips after surge on Israel-Hamas conflict
"Equity markets are bouncing back on Tuesday after a risk-averse start to the week, buoyed... by some promising Fed commentary," said analyst Craig Erlam at trading firm OANDA. -
TotalEnergies, Adani Group set up JV for wind, solar power production in India
PARIS, FRANCE - French firm TotalEnergies and Indian group Adani unveiled plans on Wednesday to create a joint venture to develop wind and solar electricity production in India. The joint venture will include wind and solar assets that Adani Green Energy Limited (AGEL) already operates and is building and developing in India,... -
Ithmaar Bank H1 profit up
Its net profit rose to US$4.14m as against US$3.96m last year. -
US equities up as major firms set to unveil economic reports
New York, US - Wall Street stocks edged higher early Monday ahead of major economic reports and earnings releases later in the week, including from Apple and Amazon. After a strong first half of 2023, US equities have continued to trend higher in July behind hopes that the Federal Reserve will... -
Aramco, 5 local firms to jointly work on project in Pakistan
ISLAMABAD, PAKISTAN - Five Pakistani state-owned companies are set to collaborate with Saudi Arabia’s Aramco to execute a $10 billion refinery project here. Aramco will inject the initial 30% equity into the project while Pakistan State Oil (PSO), Pak Arab Refinery (Parco), Oil and Gas Development Company Limited (OGDCL), Pakistan... -
GCC governments focus on service fee reform
"Sometimes, the fees have undermined their intended purpose as a cost recovery tool for the provision of a service. For instance, toll roads have become a hidden tax as the tolls collected exceed the cost of the road’s construction and maintenance," add the two experts from Strategy& Middle East. -
Wall Street stocks up amid signs of broadening in equity market
New York, United States - Wall Street stocks mostly rose early Tuesday amid signs of greater broadening in the equity market beyond technology. Briefing.com analyst Patrick O'Hare pointed to greater momentum for industrials and other "cyclical" sectors tied to economic growth "suggesting that there was a rotation of money within the... -
Arab Bank Q1 profit $216m
The first-quarter profit increased by 30% compared to Q1 2022. -
Stocks jump, dollar falls as Federal Reserve seen curbing rate rises soon
Equity markets rose, with Paris hitting a record-high, as investors reacted positively to easing inflation, recession concerns and some strong earnings. The dollar hit a year-low against the euro after official data this week showed high inflation slowing in the United States, fanning hopes the Federal Reserve would soon stop... -
Bank of Sharjah profit soars
Total equity increased by 7 percent to $930 million. -
Qatar opens new derivatives market, investors can trade options, futures
Doha, Qatar--Qatar's bourse intends to open a new derivatives market that will allow investors to trade options and futures on local stocks and its equity index, the country's financial regulator said on Monday. The Qatar Financial Centre Regulatory Authority (QFCRA) issued a new regulatory framework for listed derivatives after a... -
Aramco, Renault, Geely ink deal
The new firm will focus on internal combustion. -
Waha Capital’s profit rises by 23%
The company recorded a full-year revenue of $192m in 2022. -
DIC buys 9% equity in Monument Bank
Equity will help DIC enter one of the most regulated markets -
Market downturn impacts growth equity valuation
For strong growth companies, the choice has narrowed down to growth funding vs private equity and both have different criteria. Very often, companies prefer growth-oriented investors for higher valuations, whereas many PE investors remain by nature more cautious, he adds. -
Saudi Crown Prince considering $500m investment in Credit Suisse
Credit Suisse itself has previously said it had $500 million committed from an unnamed investor, and its chairman said last week that it has other firm commitments, the daily reported on Sunday. -
Mazda pulls out of Russia JV
Firm to transfer it equity interest to JV partner Sollers. -
Goldman Sachs Q3 profit at $3bn
The bank's revenues declined 12 percent to $12 billion. -
Debt financing in climate tech sector set to grow
In climate-related sectors, debt funding is becoming more prevalent outside of traditional project finance opportunities such as solar parks, wind farms and eco-friendly realty projects. Energy transition opportunities and electric mobility are attracting increasing levels of debt financing, he adds. -
Southern Cement H1 profit $40mn
Profit fell 42 percent compared to H1 2021. -
Indian rupee slides to new low against dollar, touches 80
The Indian rupee fell to more than 80 per US dollar for the first time on record Tuesday, as the greenback extended its rally and foreign capital outflows intensified. -
European stocks bounce back after sharp losses on global recession fears
European stock markets rebounded on Wednesday, recovering some ground following sharp losses the previous session on fears of a global recession. Oil prices recovered slightly, but WTI remained under $100 per barrel. The euro hit a fresh 20-year low point under $1.02 -- the European single currency fast closing in... -
Stock markets up globally as China eases lockdown
Adding to the upbeat mood were comments from US commerce chief Gina Raimondo that she was considering lifting tariffs on some goods from China to help in the battle against inflation. -
Energy, technology and finance lead Gulf IPOs
Energy, utilities and natural resources account for 42% of the total IPO proceeds, TMT 27% and financial services 21%, Odin Financial Advisors MD Omer Unsal tells TRENDS. -
NBK Q1 net profit $383m
Total assets by the end of March grew by 8.7 percent YOY. -
Saudi private equity, capital growth doubled in five years : Al Quwaiz
Private equity and capital growth in Saudi Arabia has reached SR12 billion ($3.2 billion), Mohammad Al-Quwaiz, chairman of the board of the Capital Market Authority said. He noted that the growth has doubled in the last five years. Al-Quwaiz was speaking at the Global Entrepreneurship Congress 2022 in Riyadh. He... -
Al-Dawaa raises $27bn in IPO
Al-Dawaa, Saudi pharmacy chain, has raised $27 billion in equity from institutional investors after its first sale of shares to the public. -
Mubadala invests in PDG
Singapore-based Princeton Digital Group (PDG) has closed an equity investment from Mubadala Investment Company (Mubadala) as a lead investor for $350 million -
Mubadala closes Brazil fund
Brazil Special Opportunities Fund I is Mubadala's first fund in Brazil. -
Al Seer Marine invests in AD Ports
With an investment of $326m, Al Seer now owns 7.36 percent of AD Ports. -
Fertiglobe IPO may raise $827m
The IPO starts Wednesday and will continue to October 18. -
DFM to unveil new equity futures contracts
In order to diversify investment opportunities, the Dubai Financial Market (DFM) will roll out new equity futures contracts on individual stocks of three listed companies. -
Kuwait’s equity market gains for sixth consecutive month
DUBAI: Kuwait’s equity market sustained its upward momentum in August as Kuwait All Share index rose 3.1 percent for the month and 22.4 percent for the year, according to Kuwait Financial Centre, Markaz. In its Monthly Market Review report for August, Markaz said the market liquidity in August, as indicated... -
Saudi banks cheer recovery with surge in loans
Driven by an increase in net loans and return on equity in the second quarter, Saudi Arabian banks are sitting pretty as the region’s economy continued its rebound from the Covid pandemic. -
Ithmaar Holding gains $4m in H1 2021
This is a turnaround from H1 2020, when net loss was $1.29m. -
Oil prices extend gains after OPEC+ talks fail, equities mixed
Brent broke above $77 for the first time since 2018 Breakdown of talks raises the possibility of $100 a barrel Oil extended gains in Asian trade Tuesday after a gathering of top producers fell apart without any agreement on a plan to lift output despite stockpiles shrinking and demand surging... -
Trella closes US$42m funding round
Proceeds will be used by Trella to invest in tech capacity and product development to fuel growth Trella connects shippers directly to carriers, with significant positives for both Trella, a digital freight marketplace in MENAP, has announced the successful completion of a $42 million funding round, comprising $30 million new...