04/03/2023
Saudi Arabia, UAE and allies announce surprise oil production cuts
The output cuts will exceed more than one million barrels per day and will be effective from May until the end of the year
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04/03/2023
UAE: Gold prices drop after Opec+ announces surprise oil output cuts
Precious metal is now vulnerable to move down to $1,900
04/03/2023
Saudi: Jabal Omar turns to $94mln losses in 2022 results
Revenues stood at $226.53mln last year
04/03/2023
UAE ranks 18th globally in FDI confidence index
The GCC countries were high in the emerging markets ranking with Qatar ranking fourth and Saudi Arabia ranking sixth globally
03/31/2023
Kuwait bourse closes higher
Meanwhile, the bourse Main 50 Index increased by 25.6 points to the level of 5,593.05 points.
03/31/2023
UAE ranks first regionally and third globally in Kearney's emerging markets index
GCC economies Qatar and Saudi Arabia also feature in world's top 25 first
03/30/2023
Kuwait Sovereign Wealth Fund Reduces Stake in Mercedes-Benz
The sovereign wealth fund will still own about 53 million shares of the German car company
03/30/2023
Dubai Financial Market introduces ‘Omnibus Accounts’ for investors
This move will enhance international investors’ access to DFM’s diversified investment opportunities
03/30/2023
Corporate loans to drive Saudi banks’ credit growth
However, relatively modest growth in profits (before Zakat) indicates the ongoing pressure on the cost of funding, according to the report
03/29/2023
IQ-EQ expands global footprint into the United Arab Emirates
The new office, located in the Dubai International Financial Centre
03/28/2023
Real GDP growth projected to expand by 4.3% in 2024: UAE Central Bank
For the whole year, growth is estimated at 7.6%
03/27/2023
UAE exchange firm Al Ansari raises $210mln in IPO
The retail offer was oversubscribed 44 times
03/27/2023
Foreigners will be allowed to own property in Saudi Arabia: REGA chief
The new law for ownership of a real estate by foreigners is in its final stages, and will be made public in a short period
03/24/2023
UAE exchange firm Al Ansari upsizes IPO on strong investor demand
Qualified investor tranche has been trimmed
03/24/2023
Dubai's DEPA posts higher revenue for 2022 on post-COVID recovery
Public Investment Fund’s investment has propelled growth in Saudi Arabia, chairman says
03/23/2023
Saudi, UAE investors plan to invest in SpaceX - The Information
The funding round is expected to value the rocket maker at about $140bln, the report added
03/23/2023
Abu Dhabi's Mubadala, Ares set up $1bln JV to invest in credit secondaries
Private credit has become a relevant and important part of institutional portfolios, the companies said
03/23/2023
Dubai to launch new gold and silver coins
The coins will be made available for purchase after Ramadan
03/23/2023
Dubai's highly popular d3 office district to have first residential offerings
3-tower cluster from Meraas marks d3's expansion to full mixed-use status
03/20/2023
Bank ABC’s 2023 AGM approves US$46 million dividend on back of robust revenues and solid strategic progress
The Shareholders also approved the Board’s recommendation to distribute a dividend of US$46.4 million, an increase of 50% from last year, cash payment at US$ 1.5 cent per share, from US$ 1.0 cent in 2022.