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Saudi Aramco, the world’s largest oil producer by crude output, has re-entered the international debt market with a US dollar-denominated bond issuance. This marks the company’s first foray into the global debt market since 2021, signifying its continued financial strength and strategic investment plans. The details of the bond offering were announced on the Saudi Stock Exchange (Tadawul) on July 9th, 2024. The bonds will be senior […]

Saudi Arabia’s Al-Hokail Academy Specialized Digital Polyclinics Company is diving into the public market. The healthcare provider announced plans for an initial public offering (IPO) on the Nomu-Parallel Market, a dedicated segment for smaller companies on the Saudi Stock Exchange (Tadawul). The offering will see Al-Hokail sell 2. 03 million shares, representing a 29% stake in the company. This dilution of ownership paves the way for potential […]

Qatar National Bank (QNB), the leading financial institution by assets in the Gulf region, reported a positive performance in the first half of 2024. The bank’s net profit climbed by 7% year-on-year, reaching QAR 8. 2 billion (approximately USD 2. 2 billion) by the end of June. This growth was fueled by a 9% increase in operating income, which reached QAR 20. 1 billion during the same […]

Dubai’s scenic coastline is poised for a significant makeover with the green light given to the Jebel Ali Beach Development Project. Approved by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, the initiative marks a crucial step towards the emirate’s ambitious Dubai 2040 Urban Master Plan. This grand vision aims to quadruple the length of public beaches in Dubai, significantly enhancing leisure […]

The Ascott Limited (Ascott), a leading serviced residence company under CapitaLand Investment Limited, is stepping up its game in Europe. The company announced a two-pronged strategy for growth:expanding its portfolio of properties and forging a strategic partnership with a major football club. Ascott is adding six new properties across Europe, bringing its total portfolio in the region to nearly 8, 000 units. This represents a 14% increase […]

Kodifly has raised $750K from Laidlaw Scholars Ventures to support its mission of enhancing infrastructure management through advanced spatial intelligence. HONG KONG SAR – Media OutReach Newswire – 9 July 2024 – Kodifly, a technology company using AI to support infrastructure management and increased safety in the Transportation sector announced today a $750K investment from Laidlaw Scholars Ventures. This funding will support Kodifly’s productization of its solutions, […]

Marks debut of The Unlimited Collection brand and expansion of lyf brand with six new property signings in Europe Enters into multi-year partnership with Chelsea Football Club as the “Official Global Hotels Partner” Operator of stadium hotels to be rebranded as lyf Stamford Bridge London LONDON, UK/SINGAPORE – Media OutReach Newswire – 8 July 2024 – The Ascott Limited (Ascott), the lodging business unit wholly owned by […]

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By Sushil Kutty The Telangana Rashtra Samithi, founded by former Telangana Chief Minister K. Chandrasekhar Rao, transformed to Bharat Rashtra Samithi, a change brought about because KCR wanted a national role for the party and the Prime Minister’s post for himself. KCR proved to be overambitious and BRS couldn’t make the cut in 2023. It […]

Saudi Arabia’s residential property market received a significant boost in May 2024, with banks approving a substantial $2. 05 billion in new home loans. This figure, revealed by the Saudi Central Bank (SAMA), represents a 13% increase year-on-year and marks a 16-month high for the Kingdom’s mortgage market. The data indicates a robust and sustained demand for housing in Saudi Arabia. This trend aligns with the country’s […]

Saudi Arabia’s banking sector is experiencing a surge in profitability, with aggregate bank profits reaching a 14-month high in May 2024. According to data released by the Saudi Central Bank (SAMA), the combined profits of Saudi banks hit SR7. 33 billion ($1. 96 billion) in May, reflecting a significant 16% increase year-on-year. This positive trend extends to the year-to-date figures as well. Banks have collectively recorded a […]

The leaders of member states within the Shanghai Cooperation Organization (SCO) solidified their commitment to regional and global collaboration through the signing of the Astana Declaration on July 4th, 2024. Convening in the Kazakh capital, the summit marked a significant step towards a more unified SCO, outlining a shared vision for the future. The Astana Declaration, as emphasized by Russian President Vladimir Putin, serves as a roadmap […]

BinDawood Holding, a prominent grocery retailer listed on the Saudi stock exchange, is poised for regional expansion with plans to establish a presence in Qatar. The company recently announced the signing of a Memorandum of Understanding (MoU) with Qatar’s Regional Group Company. This non-binding agreement grants BinDawood franchise rights to operate eight stores under its brand name within Qatar. The move signifies BinDawood’s ambition to become a […]

By Tirthankar Mitra Cautious optimism fraught with challenges has been ushered in South Africa post President Cyril Ramaphosa forming a coalition government. The new government has economic and social rejuvenation high on its agenda with the inclusion of Democratic Alliance (DA) leader John Steenhuisen and other Opposition parties. The coalition was formed after African National […]

Qatar’s non-oil economy is firing on all cylinders, with June marking a two-year high in private sector growth. According to the latest Purchasing Managers’ Index (PMI) data compiled by Qatar Financial Centre (QFC), the non-energy sector witnessed a significant expansion in activity. The PMI for June reached 55. 9, a notable increase from 53. 6 in May. This figure signifies the strongest improvement in business conditions since […]

Flynas, the leading low-cost airline in the Middle East, marked a new chapter in regional connectivity with the inauguration of its first direct flight between Riyadh, Saudi Arabia, and El-Alamein International Airport on Egypt’s North Coast. This expansion adds the picturesque Mediterranean city to flynas’ growing roster of summer destinations, offering passengers a new option for their travel needs. The inaugural ceremony, held on Wednesday, July 3rd, […]

The Saudi Arabian private sector is experiencing a surge in entrepreneurial activity, with business registrations witnessing a staggering 78% increase compared to the same period last year. This data, released by the Saudi Ministry of Commerce, reflects a thriving commercial landscape and a growing appetite for business ownership in the Kingdom. The second quarter of 2024 saw a significant rise in official business identification cards issued, reaching […]

PADANG, INDONESIA – Media OutReach Newswire – 4 July 2024 – Apical, a leading vegetable oil processor, held a groundbreaking ceremony today at its PT Padang Raya Cakrawala (PRC) facility to mark the construction of a new crude palm oil (CPO) refinery and fractionation plant for cooking oil production. Located in Padang City, West Sumatra, Indonesia, these new plants are set to boost Apical’s production capacity to […]

New Venture Enhances Luxury Marina Experiences and Broadens Hospitality Portfolio ISKANDAR PUTERI, JOHOR, MALAYSIA –Media OutReach Newswire – 4 July 2024 – Tiong Nam Hospitality Group has officially announced its expansion into the marina industry with the addition of a marina to Pinetree Marina & Resort, Puteri Harbour. This strategic move marks a significant milestone for the Group, which has been successfully managing the 107-room resort since […]

Kuwait’s non-oil economy displayed a positive but moderated growth trajectory in June compared to May, according to the latest S&P Global Kuwait Purchasing Managers’ Index (PMI). The headline figure dipped slightly to 51. 6 from 52. 4 in May, but remained comfortably above the 50. 0 threshold that indicates expansion in business activity. This moderation in growth suggests a potential settling after a period of strong gains. […]

Qatar Airways has reached new heights, soaring to record profits on the wings of a strategic expansion plan. The state-owned carrier reported a net profit of 6. 1 billion riyals ($1. 7 billion) for the financial year ending March 31, 2024, a significant 32. 4% increase compared to the previous year. This stellar performance marks the airline’s strongest financial showing in its 27-year history. Attributing this success […]

MUNICH, GERMANY – EQS Newswire – 1 July 2024 – The Executive Board of DCI Database for Commerce and Industry AG resolved on July 1, 2024, with the approval of the Supervisory Board, to increase the company’s share capital from EUR 1,330,149 by EUR 133,014 to EUR 1,463,163. This capital increase will be carried out through cash contributions and with the exclusion of shareholders’ subscription rights. The […]

Amazon is revving up its sustainability efforts in the Middle East by collaborating with authorities in the United Arab Emirates (UAE) to launch an electric vehicle (EV) delivery fleet. This initiative aligns with the UAE’s push for a greener transportation sector and complements Amazon’s global commitment to reduce its environmental footprint. Prashant Saran, a senior executive overseeing operations in Amazon Turkey, Middle East and Africa, revealed the […]

In a move signifying its ambition to become a prominent player in the Middle East and North Africa (MENA) region, India’s leading cryptocurrency exchange CoinDCX has acquired Dubai-based BitOasis. The acquisition, finalized on July 3, 2024, marks CoinDCX’s first major international expansion and strengthens its position in the burgeoning global crypto market. This strategic move comes on the heels of CoinDCX’s initial investment in BitOasis last August. […]

Bitpanda Mena, the regional arm of the leading European crypto investment platform, has revealed a significant rise in cryptocurrency adoption within the United Arab Emirates (UAE). This surge comes amidst a period of growing interest and regulatory clarity surrounding digital assets in the region. According to Bitpanda Mena, the UAE has witnessed a substantial increase in new user registrations on their platform. This trend reflects a broader […]

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