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QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

IHC Q1 net profit $2.17bn

The company launches Share Buyback Programme
  • Ireland wants to be a gateway for UAE, Gulf states to EU market: Irish minister

    Abu Dhabi, UAE--Ireland wants to become a gateway for the UAE and other Gulf states to the European Union (EU) market, Simon Coveney, Ireland’s Minister for Enterprise, Trade and Employment, told the Emirates News Agency (WAM). As evidence of thriving relations, he highlighted the growing Irish diaspora in Gulf Cooperation...
  • The union is advantageous: Sheikh Zayed

    The union amongst Emirates is just fine despite being a new experience for us. We did not adopt our neighbors’ experiences. We rather counted on our faith in our brethren rulers of the Emirates and in the importance of the union as a cordial solution to the problems of disintegration,...
  • Saudi motorsports chief says F1 debut is ‘signal’ to the world’

    The newly built venue in Jeddah is all but completed ahead of Sunday's night race just over a year after Saudi Arabia was announced as the wealthy Gulf region's latest F1 host.
  • US Navy rescues Iran seamen from Gulf of Oman

    A US Navy arrived also helped the Iranian seamen with food, water, and medical care.
  • Lebanese currency sinks to new low on the black market

    The Lebanese pound sank to a new low on the black market Wednesday, with no end in sight to the economic and political crisis plunging ever-growing numbers into poverty. According to websites monitoring the black market rate, the pound was trading at 24,000 to the dollar or 16 times less...
  • Jordanian tourism income up 61.2% in first ten months of 2021

    On a monthly level, the tourism revenues during October of 2021 rose by $302 million, reaching $352 million, compared with the same month of last year, owing to an increase of tourist numbers by about 278,000 visitors, raising the total to 322,000, the figures revealed.
  • Dubai Index surges 80 percent, Saudi losses continue

    Dubai index outperformed GCC peers, following the emirate's announcement of plans to open a $545 million market-making fund and IPOs for 10 government-backed companies.
  • This week, Gulf markets closed on a high

    Stock markets in the Arab region were mostly in the green in the week gone by.
  • UAE’s top golfer stays in contention for tourney

    Ahmad Skaik, who is the sole representative of the host UAE and the Gulf region, said he was happy to be in the tournament still because had not been playing well.
  • Lebanon PM Najib Mikati urges action to mend Gulf row, govt paralysis

    The government is breaking at the seams over a series of disputes involving a probe into last year's monster port blast, and remarks by Information Minister George Kordahi over the Yemen war that sparked reprisals from Saudi Arabia and its allies.
  • SHUAA’s insurance assets grow to $136m

    The firm expects the assets to reach $500m within three years.
  • 50 Dutch companies arrive in UAE: Water, food, energy on agenda

    Representatives of 50 Dutch companies, led by the Dutch Minister for Foreign Trade and Development Cooperation Tom de Bruijn, arrived in the UAE as part of a trade mission aimed at strengthening trade relations between the two countries. More than 350 Dutch companies currently operate in the UAE and they...
  • How major Arab economies performed since 1975

    At a time when the future of the global economy is going to change following the trends from regional economies, TRENDS Infographic of this week reviews the region's performance in terms of GDP growth between 1975 and 2021.
  • UK and Gulf nations negotiate trade deal

    "It brings me great joy and pleasure to officially announce the official launch of FTA negotiations between GCC countries and UK today," Zayed bin Rashid al-Zayani, Bahrain's minister of industry, commerce and tourism, said late Friday.
  • Manama Bahrain

    Bahrain VAT rate hike may boost sales of UAE retailers

    Bahrain plans to double its VAT rate to 10 percent, which is likely to drive its citizens to shop in the neighboring United Arab Emirates.
  • EU aims to cement cooperation with Gulf states, says bloc’s foreign policy chief

    DUBAI: The EU aims to cooperate with the Gulf states on climate change, global access to vaccines and supporting the 'green economy', the bloc's foreign policy chief has said. Josep Borrell, the 27-member European Union's representative for foreign affairs, will be holding talks with officials in Riyadh, UAE and Qatar...
  • Fed policy tightening not at all bad for Gulf economies: Jefferies

    The impending end of super-loose monetary policy from the Federal Reserve will have both positive and negative effects on the economies of the Arabian Gulf.
  • Stock markets in GCC rise as oil prices gain

    Most stock markets in the Gulf rose on Thursday as oil prices gained on growing fuel demand and a bigger-than-expected draw in U.S. crude inventories, although the Abu Dhabi index bucked the trend to trade lower.
  • Pageants, races drive camel cloning demand

    Cloning is in demand not only for beauty pageants and races but also for reproducing camels that produce large amounts of milk.
  • US defense secretary defers visit to Saudi Arabia

    Austin traveled to the Gulf region earlier this week, a week after the chaotic US withdrawal from Afghanistan ended. He first went to Doha with Secretary of State Antony Blinken to visit the main base for the massive airlift set up by the United States out of Kabul.
  • Israel mission in Dubai eyes Gulf oil deal

    Environmentalists had voiced anger over the plan to ship Emirati crude to Israel's Red Sea port of Eilat.
  • Climate change could turn Gulf cities unlivable

    A new report by the UN's Intergovernmental Panel on Climate Change showed unequivocally that the climate is changing faster than previously feared. Experts warn that with higher temperatures and humidity towards the end of this century, parts of the Gulf will experience periods of "heat stress conditions that will be...
  • Gulf workers’ top data skills least utilized by employers

    A survey says making full use of the analytic expertise core requirement for the Gulf to continue competing globally.
  • Gulf nations pledge to provide quality education

    The Arab countries have vowed to continue to work for the achievement of the UN Sustainable Development Goal to ensure inclusive and equitable quality education.
  • Monthly rent in Kuwait can eat up 38 percent of your income

    Average monthly rent for a three-bedroom apartment in Kuwait is about 475 KD ($1579), according to a survey by a UK-based website
  • Beirut costliest Middle Eastern city for expats, while cost of living eases in Dubai, Abu Dhabi

    Abu Dhabi and Dubai fell 17 and 19 places respectively on Mercer Cost of Living Survey this year Riyadh remained most expensive Gulf city even as the cost of living fell in most part of the region this year While Beirut remained the third most expensive cities in the world...
  • Lapid opens Israeli embassy in UAE, first in Gulf

    Lapid's trip comes after the nations moved to normalise ties Israel, UAE have signed a raft of deals ranging from tourism to aviation Israel's top diplomat Yair Lapid opened the Jewish state's first embassy in the Gulf during a trip to the United Arab Emirates on Tuesday after ties were...
  • Israel’s Lapid begins ‘historic’ UAE trip

    Yair Lapid is the first ever Israeli minister to officially visit the UAE Since the normalization accord with the UAE was brokered by then US president Donald   Israel's top diplomat Yair Lapid on Tuesday began the first ever official visit by an Israeli minister to the United Arab Emirates,...
  • GCC-UK Trade Summit 2021 to boost trade, investment

    Virtual event promises to catalyze a new era of economic collaboration Day-long summit will host discussions featuring high-profile investors from  KSA, Gulf, and top experts from the UK The longstanding ties between the UK and the Gulf Cooperation Council are set to receive a major fillip as the biggest names...
  • Those spreading rumours against Covid-19 vaccine will be punished: Oman health minister

    He said most people who died of Covid-19 in the country in April were not vaccinated  Oman has seen more than 257,000 Covid-19 infections,  2,848 deaths Oman’s Health Minister Ahmed Mohammed al-Saeedi told the country’s Supreme Committee on Thursday, June 24, that those who spread rumours against the Covid-19 vaccine...
  • Europe-Gulf parliament talks soon, says top Kuwait lawmaker

    The talks expected to address 'matters of mutual concern'   The Palestinian cause is one of the key issues  Lawmakers from countries from the Gulf and Europe are slated to come together soon for talks in Kuwait that will address "matters of mutual concern," said local reports recently, quoting Kuwait’s National...
  • Beirut most expensive city for expats Middle East: Mercer

      Cost of living fell in most Gulf cities in 2021; Riyadh most expensive Gulf city Abu Dhabi and Dubai fell 17 and 19 places respectively on Mercer Cost of Living Survey this year     Beirut was the most expensive city in the Middle East and third most expensive...
  • Dynabook Europe GmbH signs distribution deal with PC DealNet

    PC DealNet to distribute B2B mobile computing products and services in UAE, Qatar, Bahrain, Oman, Kuwait, Lebanon and Jordan  Formed in Lebanon in 1995, PC DealNet has expanded into Gulf and Jordan   Dynabook Europe GmbH has authorized PC DealNet with distribution rights of its award-winning B2B mobile computing products and...
  • Novo Nordisk earns the Best Place To Work certification in Kuwait for 2021

    Best Places to Work is considered as the ‘Platinum Standard’ in identifying and recognizing top workplaces  Novo Nordisk Kuwait wins the certification second time in a row Novo Nordisk Kuwait, an affiliate of the global healthcare company with more than 90 years of innovation and leadership in diabetes care, has...
  • Abu Dhabi’s largest solar-powered car park completed

    It has 7,542 solar panels producing electricity The facility is expected to reduce the emission equivalent of 5,300 tons of carbon dioxide per year Abu Dhabi’s largest solar-powered car park is complete, announced renewable energy firm Abu Dhabi Future Energy Company, aka Masdar, and Abu Dhabi Airports. With 7,542 solar...
  • Cairn case: Indian state-owned banks not to withdraw overseas funds

    Vested parties have orchestrated such reports, Indian Ministry of Finance said Cairn dispute relates to transfer of shares by Cairn UK, a holding company with subsidiaries in India The Government of India has strongly denied that it had asked state-owned banks to withdraw funds they hold in foreign currency accounts...
  • Gulf tourists await possible easing of EU travel rules

    Under the current restrictions, people from only 7 countries, including Australia, Israel, Singapore, can enter the EU  Gulf residents are expected to spend heavily on holidays this year as borders are opened European Union has agreed on Wednesday to ease COVID-19 travel restrictions on visitors from around the world ahead...