The Governor of Alexandria, Abdul Aziz Qansua, has reportedly announced that the construction of the Alexandria Metro will begin in the first quarter of 2020, at a cost of $1.05 billion. It will be implemented over two years in three phases. The governor explained that the technical and financial... Read more
More bad news is emerging for the oil organization, as more oil has been pouring from different unconventional sources far away from the troubled waters. This time it is not the USA shale oil but oil from Brazil, Canada, Guyana and Norway. All the four countries are expected to... Read more
Saudi Aramco, the world’s largest oil company, took another step on its lengthy path to a stock market listing on Saturday, saying that it would announce a final price for its shares on Dec. 5, with trading expected to start in mid-December. The company announced last week that it... Read more
The GCC equity market continued to be quiet during Q3 2019, with only one company listing on the Kingdom of Saudi Arabia’s Tadawul as compared with three in the same quarter last year across a range of sectors. However, the region’s debt market was active and witnessed iconic transactions... Read more
Credit demand from the government and public sector enterprises will fuel lending growth in the UAE in 2019 and 2020 amid stable but subdued economic growth, Moody’s Investors Service said. Maintaining its stable outlook for the UAE banking system, the ratings agency said strong capital, stable funding, and healthy... Read more
The bilateral trade between Qatar and Pakistan jumped 62.5 percent to QR9.52 billion in 2018 from QR5.86 billion in 2016, Minister of Commerce and Industry HE Ali bin Ahmed al Kuwari has said. He was addressing the fifth session of the two-day Qatari-Pakistani Joint Ministerial Committee for Trade and... Read more
Saudi Aramco has announced that it is joining the World Bank Initiative ‘Zero Routine Flaring by 2030’. The company also has a strong focus on flaring reduction, which remained at less than 1 percent of its total raw gas production in the first half of 2019. “We are proud... Read more
New 130,000 sq ft head office and cold storage warehouse opens in Dubai Fruit and Vegetable Market Online fruit, vegetable, dairy and meat distributor Kibsons has expanded into a new 130,000 square foot head office and cold storage warehouse in Dubai. Based in Dubai Fruit and Vegetable Market, the new... Read more
Banque du Liban said raising capital by $4bn would help banks ‘confront the current situation and any future developments particularly in the face of a possible credit downgrade’ Lebanon’s central bank asked local lenders to raise their capital by 20% in the next year, the state-run National News Agency... Read more
Transfer of money by Saudis outside the kingdom also down 9% compared to last year Expatriates in Saudi Arabia sent SR93 billion ($24.8bn) overseas in the first nine months of the year – down 11 percent for the same period in 2018. However, according to figures released by the... Read more