RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the world, celebrated taking delivery of the 50th airplane out of a large order for Airbus A320neo jetliners at a reception held at King Khalid International Airport here. The company is...

Formula One owners paid US$4.5 billion for the deal.

MUSCAT, OMAN – The Central Bank of Oman (CBO) has announced that the total issuance of Treasury Bills amounted to US$181 million (RO 70 million) this week. According to the Oman News Agency (ONA), the value of the allotted Treasury Bills amounted to US$12.9 million (RO 5 million) for a...

Its revenue jumped to US$16.33 billion, a rise of 17.9 percent.

The fund has an existing portfolio valued at US$158m.

The tech giant's market value has surged by over $1 trillion.

DUBAI, UAE - The Citizens Debts Settlement Fund announced the exemption of 1,244 citizens from their debts with a total value of US$107 million (AED394,586,000), in cooperation with 18 banks and financial institutions in the country. The initiative follows the directives of President Sheikh Mohamed bin Zayed Al Nahyan and...

SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has logged an impressive surge in new memberships this year, registering 4,981 new companies through the end of the third quarter. With this increase, the Chamber’s main branch and its other branches in Al Dhaid, Khor Fakkan, Dibba Al-Hisn,...

It will be hiked by US$79.6m through a public offering.

DUBAI, UAE - The global Islamic microfinance industry has surpassed US$60 billion in value within the $3.8 trillion Islamic finance landscape. This achievement highlights the growing recognition of Islamic microfinance as a tool for poverty alleviation. The industry's potential to bridge financial gaps while adhering to Shariah principles positions it...

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

New firm is a $54 million corporate venture capital fund.

The contracts are valid for 20 years, said Saudi Catering.

Wall Street rises as US consumer inflation moderates.

Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong earnings in the oil and gas sectors.

SHARJAH, UAE - The emirate's real estate activity during May 2023 logged a total value of US$653 million (AED 2.4 billion), further enhancing Sharjah's position as an ideal destination for investors, businessmen and families. The Real Estate and Mortgage Report issued by Sharjah Real Estate Registration Department (SRERD) revealed that...

BRUSSELS, BELGIUM -  The EU exported US$1.1 billion (€1.1 billion) worth of bicycles in 2022 (both electric and non-electric, a rise of 22 percent compared with 2021), according to Eurostat, the statistical office of the European Union on the World Bicycle Day. The imports were double the exports, with US$2.6...

Tehran, Iran-- Less than a year after signing a preferential trade agreement (PTA) with the UAE, Indonesia will sign a similar treaty with Iran during the ongoing visit of the Islamic Republic's President Ebrahim Raisi to the country. The deal is intended to improve trade relations and boost the trade...

Abu Dhabi, UAE-- Stating that the global reshuffling of economic gravity is providing an opportunity for the UAE, Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said that the country has positioned itself as a key player in the global value chain. He was speaking at...

Manama, Bahrain--This week’s $186 million issue of government treasury bills has been oversubscribed by 208%. The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain on behalf of the government of Bahrain. The issue date of the bills is 25th January 2023 and the...

Iraq's prime minister said the country's central bank governor had been relieved of his duties as the local currency continues to fall against the dollar. "The central bank governor's request for discharge was approved, as was the request for retirement by the president of the Trade Bank of Iraq," Prime...

Abu Dhabi, UAE--The market cap of Arab stock exchanges has vaulted to $4 trillion by the end of 2022, according to the Arab Monetary Fund (AMF). The AMF said in a statement that the market value of the Abu Dhabi Securities Exchange reached $714.6 billion in the reference year, while...

The bank listed the sustainable sukuk on Nasdaq Dubai.

Greater investment in sustainable food cold chains is needed to reduce hunger, provide livelihoods to communities and adapt to climate change, two UN agencies said in a report launched at the COP27 climate change conference underway in Sharm El-Sheikh, Egypt.

No financial terms were disclosed of the proposed deal.

Jebel Ali Free Zone (Jafza), facilitated over 1.2 million metric tonnes (MT) from Dubai’s total volume of around 4.8 million MT of vehicle and transport commodities which transited through the emirate in 2021.

The rapid rise of the US dollar since the start of the year is a double-edged sword for American multinational companies, pushing some of them to decide whether to hedge or reposition their activities abroad to avoid fallout. And they also lose money when converting foreign revenue back into dollars.

Bitcoin plunged below $20,000 on Saturday, shedding nine percent from the previous day to fall to $18,740, its lowest level since December 13, 2020. The value of the global crypto market fell below the symbolic $1 trillion mark on Monday after reaching $3 trillion in November of last year.

Abu Dhabi Securities Exchange (ADX) recorded the highest increase in trading value among Arab financial markets in May 2022 at 292.64 percent while the Palestine Exchange topped the list in terms of trade volume increase, according to Arab Monetary Fund (AMF). The AMF noted in its monthly newsletter that covers...

Different values are given different magnitudes of priority across the world. Here are the ones that the Middle East is influenced the most from.

The Dubai Gold and Commodities Exchange (DGCX) has reported that the exchange recorded a yearly AOI a sum of 1,985,584 contracts and traded 7,076,350 contracts during 2021.

The total number and value of sold real estate in Qatar have increased at a monthly rate of 2.8 percent and 28.2 percent respectively in November, compared to October 2021. The issued cash increased by 3 percent, compared to October 2021, and at an annual rate of 20.7 percent, compared...

The total value of the UAE’s foreign trade in the past five decades amounted to some AED34.23 trillion ($9.32 trillion), according to the United Nations Conference on Trade and Development (UNCTAD). Additionally, the country’s trade balance from 1971 to 2020 recorded a surplus of nearly $1.3 trillion (AED4.76 trillion). The...

A sustainability-focused company strategy boosts brand value and efficiency, matches customer demands, attracts top personnel, and opens new doors.

The global food trade should hit a record high in both volume and value, according to a new report by the UN Food and Agriculture Organization (FAO). By the end of 2021, the global food import bill should extend beyond $1.75 trillion, marking a 14 percent increase from the previous...

Lebanon’s Information Minister George Kordahi has said that the country needs $1 billion to bring up the value of the Lebanese pound against the dollar. He acknowledged the fact that the demand for dollars is high, especially since diesel fuel is sold today in dollar terms.

The Turkish lira sank to a record low against the US dollar on Thursday after President Recep Tayyip Erdogan fired three central bank members in an overnight decree. The embattled Turkish currency has lost nearly a fifth of its value so far this year as market concerns over the policy-setting...

The market value of Aramco has exceeded $2 trillion after its shares vaulted to their highest level since the start of 2020.

Issued during the rule of former president Mahmoud Ahmadinejad in 2006, the Justice Shares were intended to assist economic privatization efforts.

Putting a monetary value on nature means that damaging resources such as breathable air and drinkable water becomes not just a survival risk, but a financial one. Some $44 trillion of annual economic value generation -- half of the world's gross domestic product -- is moderately or highly dependent on...

Latest review by global property consultant Knight Frank says apartment values in Saudi capital grew by 7.6 percent year on year.

Saudi Arabia received $10.4 billion in investment  FDI projects in the kingdom fell by 49 percent to 73  Amid all the doom and gloom brought on by the outbreak of coronavirus that badly hit the economies around the world, Saudi Arabia received a big boost to its economy last year...