02/07/2021
Budget Saudi posts 5% net profit rise to $50.1m in 2020
Q4 2020 net profit after Zakat and tax rose 64 percent year-on-year (YoY) to SR 79.4 million.
Alternative Investments
02/07/2021
One of world’s richest nations taps wealth fund as cash dries up
To generate liquidity, the government began last year swapping its best assets for cash with the $600bn Future Generations Fund
02/05/2021
ENBD REIT's Q3 property portfolio value down to $366mln
ENBD REIT’s management has focused on securing longer-term leases for all renewals and new leases
02/05/2021
Strengthening trade with GCC a priority after Brexit, UK says
The MP said that Brexit has made access to trade agreements with GCC countries “more flexible”
02/05/2021
Middle East economies will reach 2019 GDP level in 2022: IMF
GCC countries have the widest coverage of the vaccination
02/05/2021
Turkey wealth fund ready to spend after year of M&A
The sovereign investor’s priorities highlight its role as the hub of the country’s post-pandemic economic order.
02/05/2021
Banque Misr keeps monthly return on saving certificates at 11%
It also kept its credit and discount rate at 8.75 percent.
02/05/2021
TCS takes full control of all-women BPO center in Riyadh
Following completion, TCS will take full charge of an all-women delivery centre in Riyadh – staffed with 1,000 professionals with expertise in finance, accounting, human resources, supply chain management and IT services, among others.
02/05/2021
Saudi, UAE, and GCC banks facing major pressures in 2021
As regulatory forbearance measures are gradually phased out and the economy adjusts to the new normal, the cost of risk will remain elevated in 2021, increasing to 140 bps (from 80 bps in 2019), before starting to gradually normalize in 2022.
02/05/2021
EBRD, DEG and GEF promote private-to-private solar energy in Jordan with Yellow Door Energy
In total, 48.3 MWp of renewable energy capacity will be added to Jordan’s power system, generating over 81 GWh of renewable electricity per year during the lifetime of the project.
02/04/2021
UAE’s Sky Abu Dhabi plans $950m Egypt investment in next two years
The company plans to spend 300 million Egyptian pounds on construction of the project this year
02/04/2021
Kuwait taps wealth fund as cash dries up
Fitch on Wednesday cut Kuwait’s outlook to negative from stable
02/04/2021
CMA planning to launch XBRL disclosure portal
XRBL transfers financial statements and data using IFRS Taxonomies and coding readable by both reader and computers for easy access to the information therein and to compare the contents.
02/04/2021
Dubai records 51,414 real estate transactions worth over Dh175 billion in 2020
Properties in Dubai continue to be attractive to local, Arab and global investors
02/04/2021
Dubai, Gulf investors turn cautious on stricter GCC-wide restrictions
Etisalat bucks trend with another stellar gain ahead of 2020 results
02/04/2021
QNB Group is Official Mideast-Africa Supporter and Qatari Bank of FIFA World Cup 2022
As an Official Middle East and Africa Supporter of the FIFA World Cup Qatar 2022
02/04/2021
Corp-Solutions partners with valU to provide merchants with immediate access to financing
The partnership will offer valU merchants immediate access to financing through Corp-Solutions' premier financing solutions
02/03/2021
Dubai's DFM Company posts $37.57mln net profit in 2020
Foreign investors accounted for 50% of trading and 19% of market capitalization
02/03/2021
Utilise data capabilities to meet Sustainable Development Goals
Collecting this data in real time is a complex task – one for which governments and national statistics organisations in the GCC region are ill-equipped.
02/03/2021
$19.8bln properties sold in Dubai in 2020; market up 270% from lowest level in May
Sector headed for V-shaped recovery, according to official sales price index