Category: Middle East Market

Instantly update and podcast Middle East Market News and Analysis from varies financial media, we summarize all market news from United Arab Emirates, Egypt, Iraq, Iran, Jordan, Kuwait, Lebanon, Libya, Oman, Qatar, Saudi Arabia, Yemen, and provide a sitemap with Middle East financial news summary for the one who wanted to catch up Middle East Market change in timely manner.

Unbundling the banking tech

If there’s one thing that symbolises the banking sector in Pakistan, it’s mediocrity. They are slow, painful, rent-seeking and, most importantly, minnows. Sure, not so much if we look at the stock exchange, but definitely if financial inclusion is the metric — as it rightly should be.Nonetheless, the past few years have seen almost all banks…

Istanbul-Islamabad freight train to resume operations after 9 years

LAHORE: After a gap of nine years or so, the Istanbul-Islamabad freight train is likely to resume operations on March 4, connecting goods train business of three countries —Turkey, Iran and Pakistan.“We have been informed by the quarters concerned that the container train would start its journey from Istanbul (Turkey) for Islamabad (Pakistan) via…

Saudi Arabia to allow Boeing 737 MAX to return to service

LONDON: Saudi Arabia’s civil aviation authority announced on Sunday that the Boeing 737 MAX plane would be allowed to return to service in the Kingdom.The General Authority of Civil Aviation (GACA) said the decision came after completing a review, taking the necessary measures, and completing all required tests by the US Federal Aviation Administration,…

Global chip shortage offers silver lining to KSA’s local industry

Author: Mon, 2021-03-01 00:30 RIYADH: A global semiconductor chip shortage as a result of the coronavirus disease (COVID-19) pandemic has increased the need for the Kingdom to boost its local production so it is less dependent on foreign manufacturers, a Kingdom-based IT expert said. The shortage has pushed chip stocks to record highs, and…

KPMG: 98% of Saudi CEOs set to invest in cloud technology in 2021  

JEDDAH: Senior company executives in Saudi Arabia are embracing the digital revolution, with 98 percent planning to raise their investments in cloud computing this year, according to a new survey.Cloud computing is at the top of the technology agendas for CEOs in the Kingdom, with investments in artificial intelligence, robotic process automation and…

Saudi fast-food chain Herfy expands in Bangladesh

JEDDAH: Herfy Food Services Company, Saudi Arabia’s largest fast-food chain, has opened its fifth restaurant in Bangladesh, following the success of previous branches in the capital city.The financial impact from the opening will reflect in the first quarter of 2021, the company said in a Tadawul statement.Herfy inaugurated its first branch outside…

Huge surge in GCC demand for Ivy League university coaches

DUBAI: Getting into a prestigious Ivy League university is no easy task. According to the latest figures, California’s Stanford University was especially picky, with a 2019 acceptance rate of just 4 percent. Columbia and Harvard followed with 5 percent, while Princeton and Yale were slightly easier with 6 percent of applicants getting offers.The…

South African telecoms giant MTN eyes $65 mln deal for Syrian business

MTN Group remains committed to negotiating a $65 million sale of its 75 percent stake in its Syrian unit, the South African mobile operator said on Sunday, despite the business being placed under judicial guardianship last week.MTN Syria was placed under guardianship by a court in Damascus over alleged MTN violations of the terms of its licensing contract,…

Tabreed weather-watching AI could cool homes from Dubai to Makkah

DUBAI: The UAE company that provides cooling to thousands of homes across the Gulf plans to use weather-watching technology to anticipate when demand will rise and fall. It is one of four new pilot projects announced by Tabreed that will support its aim to boost plant efficiency and reduce operating costs, the company said in a bourse filing on Sunday….

South African mobile operator MTN eyes $65mn deal for Syrian business

JOHANNESBURG: MTN Group remains committed to negotiating a $65 million sale of its 75 percent stake in its Syrian unit, the South African mobile operator said on Sunday, despite the business being placed under judicial guardianship last week.MTN Syria was placed under guardianship by a court in Damascus over alleged MTN violations of the terms of its…

UAE, Ukraine discuss new trade, investment partnerships

DUBAI: The UAE-Ukraine Coordination Committee has held its first remote meeting to discuss potential partnerships between the two countries, state news agency WAM has reported.The meeting followed the first visit of Ukraine President Volodymyr Zelensky to the UAE, and was attended by several Emirati ministers.“The Ukrainian president’s visit…

Shipload of Spanish cattle to be killed

Nearly 900 cattle that have been on a ship travelling the Mediterranean Sea for two months will be killed after veterinarians deemed them no longer fit for export, Spanish authorities say.A total of 895 cattle set sail from the Spanish port of Cartagena on December 18 in the cargo ship named Karim Allah destined for export to Turkey.But Turkish port…

No change in petrol prices as PM Imran turns down Ogra’s proposed hike

Prime Minister Imran Khan has turned down a proposal by the Oil and Gas Regulatory Authority for an increase in fuel prices, Special Assistant to Prime Minister on Political Communication Shahbaz Gill said on Sunday.In a tweet, he shared a picture of Ogra’s proposed prices and said: “Ogra proposed to increase the price of petroleum products from…

Caged cattle in a rogue vessel stranded in the Mediterranean will be sacrificed

Caged cattle in a rogue vessel stranded in the Mediterranean will be sacrificed Sunday, February 28th 2021 – 10:11 UTC Full article The Lebanon-registered ship had left the Spanish port of Cartagena in December and was headed to Turkey to sell the young bulls, according to the daily El Diario. Some 864 head of cattle aboard the ship “Karim Allah”…

Spain: Shipload of cattle to be killed after 2 months at sea

MADRID (AP) — Nearly 900 cattle that have been on a ship traveling the Mediterranean Sea for two months will be sacrificed after veterinarians deemed them no longer fit for export, Spanish authorities said.A total of 895 cattle set sail from the Spanish port of Cartagena on Dec. 18 in the cargo ship named Karim Allah destined for export to Turkey….

UK’s Sunak will set out plans to raise income tax by $8.36bn: report

British finance minister Rishi Sunak will set out plans to raise income tax by 6 billion pounds ($8.36 billion), The Times reported on Sunday.The chancellor will say he needs to raise more than 40 billion pounds to tackle the budget deficit and protect the economy from rising rates of interest on government borrowing, the report said.The government…

Biden urges quick Senate action on huge stimulus package

WASHINGTON: President Joe Biden on Saturday welcomed the overnight passage by the US House of Representatives of an enormous, $1.9 trillion coronavirus relief package, saying it moves the country closer to full Covid-19 vaccination and economic recovery.The package passed the House just after 2:00 am (0700 GMT) Saturday, in a 219 to 212 vote, with…

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