Business & Money | Sunday 15 September, 2024 9:29 am

Moody’s forecasts Islamic finance to outpace conventional banking in GCC

Moody's Ratings has forecast that the profitability of Islamic banks in Gulf Cooperation Council (GCC) countries will remain strong over the next 12 to 18 months. In its report today, the agency attributed the strong profitability of Gulf Islamic banks to robust commercial activity driven by...

More Details

Business & Money | Sunday 15 September, 2024 9:24 am

UAE's banking sector net international reserves increase by 8.1 percent in H1 2024

Net international reserves of the UAE’s banking sector increased by 8.1 percent, or AED92.3 billion, during the first half of 2024 (H1 2024), reaching AED1.238 trillion at the end of June, compared to AED1.145 trillion at the end of the same period last year. The Central Bank of the UAE’s...

More Details

Business & Money | Sunday 15 September, 2024 9:23 am

Bank of Russia raises key rate by 100 bp to 19% per annum

The Bank of Russia raised the key rate by 100 basis points to 19 percent per annum and indicated the possibility of raising the figure once again at the next meeting, according to a press release issued following the meeting of the regulator's Board of Directors. "On 13 September 2024, the...

More Details

Business & Money | Sunday 15 September, 2024 9:22 am

GCAA, Volar Air Mobility partner to establish UAE’s first green aviation technology hub

The General Civil Aviation Authority (GCAA) and Volar Air Mobility signed a Memorandum of Understanding (MoU) during the International Civil Aviation Organisation’s (ICAO) Advanced Air Mobility (AAM) Symposium 2024. This collaboration will lead to the development of the UAE's first Green...

More Details

Beauty & Style | Sunday 15 September, 2024 9:19 am

Sharjah Chamber showcases Emirati designers’ innovative creations at 70th Bangkok Gems and Jewelry Fair

The Sharjah Chamber of Commerce and Industry (SCCI), represented by the “Emirati Goldsmiths” Platform, participated in the 70th Bangkok Gems and Jewelry Fair, held in Bangkok, Thailand, from 9th to 13th September 2024.This participation underscores SCCI’s commitment to promoting youth-led...

More Details

Business & Money | Sunday 15 September, 2024 9:15 am

Mawani Expands Jeddah Islamic Port Connectivity with ONE's RG2 Service

The Saudi Ports Authority (Mawani) has announced the addition of Ocean Network Express (ONE) new RG2 shipping service to Jeddah Islamic Port. This strategic move reinforces the port's global navigational connectivity, and highlights its competitive edge and operational efficiency.Aligned with...

More Details

Business & Money | Sunday 15 September, 2024 9:14 am

With Saudi Participation, Startup20 Summit Kicks off in Sao Paulo, Brazil

The Startup20 Summit has commenced in Sao Paulo, Brazil. A Saudi delegation led by Prince Fahd bin Mansour bin Nasser bin Abdulaziz, Head of the Saudi Startup Group within the G20, is participating in the summit in partnership with NEOM, the entity supporting Saudi participation in Startup20.Saudi...

More Details

Government | Sunday 15 September, 2024 9:06 am

Saudi Arabia Signs Agreement with Brazilian Space Agency at G20 Space Economy Leaders Meeting

Saudi Space Agency Vice Chairman and CEO Dr. Mohammed Altamimi led the Saudi delegation to the fifth edition of the G20 Space Economy Leaders Meeting, held in Foz do Iguaçu, Brazil between September 11 and 13.The meeting, initiated during Saudi Arabia's G20 presidency, focused this year on "Space...

More Details

Business & Money | Sunday 15 September, 2024 8:59 am

CMA’s new 3-year strategy supports investor protection: ElKuwaiz

The Capital Market Authority (CMA) achieved many ambitious goals in its previous strategies for our financial market, which helped the Saudi financial market rank among the world’s top 10 markets, Chairman Mohammed ElKuwaiz said.   Therefore, the authority’s recently announced...

More Details

Business & Money | Sunday 15 September, 2024 8:58 am

GO to acquire 51% Stake in eJad for SAR 86.7 Million

Etihad Atheeb Telecommunication Co. (GO) signed on Sept. 14 a binding Memorandum of Understanding (MoU) to acquire a 51% equity stake in eJad Tech Co. for a total consideration of SAR 86.7 million.   In a statement to Tadawul, the company pointed out that the acquisition will be...

More Details