Excluding currency effects, the sales gain was 11 percent.

Market players may mitigate risks by adopting the best industry practices, securing their reserves and abiding by regulations, an expert tells TRENDS in an interview.

To establish connectivity in the Indian Ocean, the two countries need to look at various other aspects, such as setting up a shipping chamber, holding conferences, and appointing transportation attachés at their diplomatic missions to facilitate shipping ventures between Indian and Indonesian firms, he adds.

Pact is likely to help enhance Kingdom's non-oil exports.

Doha, Qatar - Qatar Emir Sheikh Tamim ibn Hamad Al Thani announced Sunday a $60 million financial contribution to Doha Program of Action (DPoA).He was speaking at the Fifth UN Conference on the Least Developed Countries (LDCs) in Doha.Local media reports said that $10 million will be allocated for supporting...

Industries in the region may use metaverse interchangeably. However, there is no specific way to know which sector will benefit the most from the latest technology, says an expert.

Abu Dhabi, UAE - UAE's Minister of Economy Abdullah bin Touq Al Marri said Wednesday that in 2022, the UAE economy recorded its fastest growth rate in over a decade despite the global economic slowdown, with the first half of 2022 witnessing unprecedented growth of nearly 8.5 percent.The country's foreign...

Doha, Qatar--Egypt and Qatar have signed an agreement to eliminate double taxation on income and prevent tax evasion and avoidance, according to a statement by the Cabinet on February 27.The agreement comes within the framework of bolstering bilateral economic relations and shoring up cooperation in several fields.It is also part...

Egypt is focused on rebuilding the state and infrastructure. The country has dropped unemployment levels from 18 percent to 7.2 percent in the current period as a result of launching of major projects in the past few years, which compensated for the decline in the private sector's contribution to growth...

Riyadh, Saudi Arabia--Saudi Arabia’s economic growth is expected to accelerate by 3 percent in 2023 backed by a robust non-oil sector. According to a forecast by Riyad Capital, the output from this part of the economy will rise by 5 percent this year.The growth will be driven by a sturdy fiscal...

Sports, social and marketing events, including various global activities and competitions, are likely to bring in more Saudi tourists, Qatar Tourism's data suggest.

Amman, Jordan - The Baynouna Solar Energy Company (BSCE), a joint venture between the UAE’s world-leading renewable energy company, Masdar, and Finnish investment and asset management group Taaleri, has announced the formal inauguration of the 200-megawatt (MW) Baynouna Solar Park – the largest clean energy project in Jordan.The inauguration was...

The bilateral ties between the two countries were further strengthened after the inauguration of the UAE Embassy in the Azeri capital, Baku, in 2011, and have witnessed advancement due to the mutual keenness of their leaderships, he adds during an interview with Emirates News Agency.

RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) is participating in the Gulfood exhibition to showcase its business solutions for global investors in the Food and Beverage (F&B) industry who want to establish and expand their operations in the UAE.With an aim to promote the F&B industry,...

SHARJAH, UAE - Chairman of the Department of Government Relations (DGR) in Sharjah Sheikh Fahim Al Qasimi recently met with Minister of Foreign Trade and Investment of Costa Rica Manuel Tovar Rivera to discuss strengthening collaboration between their respective regions.The two parties discussed trade, food security and the transportation of...

AMMAN, JORDAN - A Jordanian ministerial delegation met with a number of Algerian ministers in the North African country on Monday  to discuss areas for bilateral cooperation.The two sides reached an agreement on a roadmap to advance economic, trade, and investment cooperation for the years 2023–2025 or until the meetings...

Riyadh, Saudi Arabia-- Saudi Arabia and Costa Rica have signed agreements to increase the volume of trade and investment between the two countries.In this connection, the Federation of Saudi Chambers and the Costa Rican Export Authority signed two agreements in the field of economic cooperation between the kingdom and the...

Creating a coherent ESG policy is perhaps one of the biggest challenges for the region, which is heavily reliant on hydrocarbons, says an expert.

Doha, Qatar—Logistics market in Qatar will outperform other Gulf Cooperation Council countries during the 2020-2026 period, a study says.The study by the Investment Promotion Agency in Qatar showed Qatar ranked among the first 20 percent of countries in the world and second in the Middle East based on performance in...

ABU DHABI, UAE -  A delegation of 10 Abu Dhabi entities visited Israel from  February 12-16 to discuss business cooperation and innovation opportunities.Led by the Abu Dhabi Investment Office (ADIO), the delegation included Abu Dhabi Global Market (ADGM), Abu Dhabi Residents Office (ADRO), Hub71, Abu Dhabi IPO Fund (ADIPOF), Masdar...

At least six banks, seeking to open branches in Saudi Arabia, have obtained licenses from the Saudi Central Bank to conduct operations in the Kingdom in the coming months.

DUBAI, UAE -  Investopia, the global investment platform launched by the UAE Government, and Mubadala, the sovereign investor, announced a strategic partnership.This strategic partnership is focused on Investopia’s second annual event which will take place on March 2- 3, 2023 in Abu Dhabi, under the theme 'Envisioning Opportunities in Times...

Riyadh, Saudi Arabia--- Saudi Arabia's sovereign wealth fund, the Public Investment Fund, has announced an investment of $1.3 billion by way of minority stakes in four leading Saudi construction companies.The companies are Nesma & Partners Contracting Company, ElSeif Engineering Contracting Company, AlBawani Holding Company, and Almabani General Contractors Company. The...

LONDON, UK - The London stock market jumped to a record peak Tuesday in a positive open across Europe, after hefty gains on Wall Street with all eyes on US inflation.The British capital's benchmark FTSE 100 index of top companies reached as high as 7,986.20 points."The tailwinds from another decent market...

Startups in the Middle East and North Africa raised $3.94 billion in 2022, a 24 percent increase in investment value compared to 2021, according to Wamda.

Riyadh, Saudi Arabia – The Saudi Arabia’s Ministry of Industry and Mineral Resources (MIM) and Standard Chartered Bank (SCB) have signed a memorandum of understanding (MoU) to assess the requirements for sustainable investment in the mining sector in the Kingdom of Saudi Arabia, as per the objectives of Vision 2030.In...

The capital will finance PIF's green investments.

Riyadh, Saudi Arabia–- Investments, launches and announcements valued at more than $9 billion were made at the 2nd edition of the International Technology Conference, LEAP23, which concluded Thursday.A record 300,000 people from more than 100 countries visited the event, making it the largest global gathering for technology and digitization developments...

Growth in profits driven by investments and rise in operating portfolio.

Since March 2021, bank's stock lost over 75% of value.

The two Gulf countries expect new strategy to result in a rapid economic transformation and offer new revenue stream, allowing them to cut down reliance on crude oil income.

Sharjah is a gateway to the markets of the Gulf region, with a GDP of US$1.6 trillion. It provides a solid business base for investors through six free zones and 33 industrial zones with various specialisations, which are all linked to convenient land, sea and airports, he adds.

The group owned by tycoon Gautam Adani lost around $120 billion in value after claims of accounting fraud were levelled by short-seller US investment group Hindenburg Research on January 24. The slide has raised concerns about the group's ability to raise fresh financing to pay down its debts. It cancelled...

Israeli premier Benjamin Netanyahu says the 'reform', which will give Israel's parliament the power to override court decisions with a bare majority, won't impact the economy.

The Rothschild family is set to take its investment bank private as its holding company announced plans to buy out the shares it does not own. Concordia, which holds almost 40 percent of the capital of Rothschild & Co. said it was in negotiations with investors and banks to finalize...

The group owned by tycoon Gautam Adani has lost around $120 billion in value since the claims were levelled by short-seller US investment group Hindenburg Research on January 24.

They will launch Orient Educare, a savings and insurance plan.

The reforms would tighten political control over judicial appointments and limit the Supreme Court's ability to overrule government rulings or Knesset-approved laws.

Baghdad is currently heavily dependent on neighboring Iran for its electricity and gas and has sought to diversify its energy sources.

DUBAI, UAE - Dubai Health Authority (DHA) has signed a Memorandum of Understanding (MoU) with Dubai Integrated Economic Zones Authority (DIEZ) to enhance investment opportunities in the healthcare sector and support the formation of healthcare start-ups.The MoU will help to promote cooperation and coordination between the two sides and develop...

The pacts were signed on the sidelines of the Saudi-Omani Investment Forum which is held in Riyadh under the theme of "Partnership and Integration".

The company is world's second-largest memory chip maker

Despite the milestone, spending on energy transition technology must immediately triple to meet the target of net-zero emissions by 2050 to combat climate change, according to research group BloombergNEF. Investment in sectors such as renewables, nuclear, zero-emission vehicles or recycling projects totaled $1.1 trillion last year, matching spending on fossil...

Net profits at the banking giant rose 23% in Q4 of 2022.

While China's easing of coronavirus restrictions paves the way for a faster-than-expected recovery, the rise in central bank rates to fight inflation and Russia's war in Ukraine continue to weigh on economic activity, the Washington-based crisis lender said in its report. But "adverse risks have moderated" since October's forecast, the...

The World Health Organization called for greater investment in combating neglected tropical diseases (NTDs), which left over 1.6 billion people, often in least-developed countries, requiring treatment in 2021. NTDs are a diverse group of conditions found mainly in tropical regions that include dengue, leprosy and rabies. The WHO said NTDs...

The Kingdom is studying the feasibility of investing in the futuistic UK project, which if materialized may play an important role in combating climate change.

Riyadh, Saudi Arabia--The Saudi Ministry of Investment has signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology at Riyadh Global Medical Biotechnology Summit 2023, the Saudi Press Agency reported Friday.The MoUs were signed in the presence...

The Gulf countries are witnessing an increase in investors' confidence due to the region's comparatively good economic conditions, a latest JLL report highlights.

Mumbai, India - An Indian conglomerate owned by Asia's richest man Gautam Adani said Thursday it was exploring legal action against a US investment firm that accused it of "brazen" corporate fraud.Hindenburg Research this week alleged that Adani Group had used undisclosed related-party transactions and earnings manipulation to "maintain the appearance...