Economy
Dubai dissolves tribunal handling financial settlements related to Dubai World
All settlement cases and claims pertaining to Dubai World and its subsidiaries will now be referred to specialised courtsPort operator...
Middle East assets under management set to grow after 52% gain
AUM reached $35bn as of the third quarter of 2021, data and analytics specialist Preqin saysInternational capital is increasingly flowing...
Egypt raises interest rates to arrest soaring inflation
Central bank's rate increase is latest move by government to cope with economic fallout from Ukraine war Egypt central bank's...
Saudi food delivery company Jahez to acquire rival Chefz
The bid comes after the kingdom’s competition watchdog rejected Delivery Hero’s takeover bid for Chefz last year Founded in 2016,...
Davos 2022 ‘most timely and consequential’ forum in history, says Schwab
Amid Ukraine war and weak economic outlook, more than 50 heads of state and government gather next week in Switzerland.Klaus...
Elon Musk tweets he will ‘vote Republican’ as Tesla cut out of S&P 500 ESG index
Tesla founder says he 'can no longer support' DemocratsTesla chief executive Elon Musk tweeted that he could no longer support...
UAE urges family-owned businesses to list on local bourses
Public company structure and reporting makes succession process easier, Ahmad Al Falasi, Minister of State for Entrepreneurship and SMEs, tells...
Egypt seeks partnerships with US private sector for green investment boost
Two US companies signed agreements to establish green projects in the North African countryEgyptian Prime Minister Mostafa Madbouly at a...
India’s LIC shares slump after country’s largest listing
Life Insurance Corporation accounts for two-thirds of the country's life insurance market providing coverage for more than 250 million peopleLife...
Saudi Arabia’s sovereign wealth fund PIF launches coffee company
Saudi Coffee Company will invest $320m over 10 years to develop the national coffee industry and boost production capacity to...
Abu Dhabi Ports profit soars on higher revenue in first quarter
Container volumes grew by 23 per cent year on year during the reporting periodAbu Dhabi Ports Group owns and operates...
GCC consulting market crosses $3bn for first time on economic transformation push
Growth last year followed a contraction for the first time in 2020Saudi Arabia’s consulting market recorded the strongest growth regionally...
Dubai International Airport raises 2022 passenger traffic forecast to 58.3 million
The world's busiest hub records its busiest quarter since 2020 as transit traffic rebounds Dubai International Airport handled 13.6 million...
Dubai International Airport raises 2022 passenger traffic forecast to 58.3 million
The world's busiest hub records its busiest quarter since 2020 as transit traffic rebounds Dubai International Airport handled 13.6 million...
Tesla suspends most of its electric car production in Shanghai
Company faces problems in securing parts as city faces its sixth week of an intensifying Covid-19 lockdownChinese-made Tesla Model 3...
ATM 2022: Saudi Arabia’s Red Sea tourism project plans luxury second homes
TRSDC to deliver 800 residential units on new island and plans to launch sales in 2023 or 2024ExpandAutoplayThe Red Sea...
India’s largest IPO nearly 3 times oversubscribed as LIC attracts foreign investors
The government expects to raise up to $2.7bn - a third of its original target - from selling a 3.5%...
Starbucks second-quarter income jumps on strong US business
Net income surged to more than $674.5m in three months to the end of April 3Starbucks' second-quarter revenue increased 14.5...
Fashion brand Karl Lagerfeld to be fully acquired by G-III Apparel Group in $210m deal
The all-cash deal is expected to add about $200m in initial annual sales G-III Apparel Group aims to heavily market...
Bahrain issues crowdfunding regulations to open up new financing avenues
Move comes after comprehensive review of existing rules by the central bankBahrain Central Bank has issued new rules governing crowdfunding...
