Browsing: Business

The financial collapse of Lebanon resulted in the shuttering of many depositors and the loss of more than 90% of the value of the local currency. According to a draft plan to fix a huge hole in the financial system,

Chairman of the Capital Market Authority (CMA), Shaikh Abdullah Salem al Salmi, approved on Thursday the licensing of the first crowdfunding platform operator in the Sultanate of Oman, Ethis Investment Platform LLC. It is the first Islamic global crowdfunding platform

Ihsan Abdul-Jabbar Ismail, the oil minister of Iraq, attended the International Petroleum Technology Conference (IPTC) in Saudi Arabia. Hosted exclusively by Aramco, the IPTC generated a lot of buzz with oil ministers from Iraq, Saudi Arabia, Egypt, Bahrain, the United

Banks in Lebanon are closing branches and laying off workers in droves, responding to the bleak reality of a crisis they are widely blamed for. The small country had a flourishing banking sector before facing a financial collapse that the

Prime Minister Najib Miqati said Friday that a new law for the ports, including the port of Beirut, is being prepared. He added, in a ceremony at the Grand Serail, that Beirut’s port must be rebuilt for it to attract

Rabee Securities is hosting a three-day event at the Iraq Pavilion at EXPO 2020 in order to showcase Iraq’s top technology start-ups. The most promising entrepreneurs in Iraq will present their ideas and interested parties will have a chance to

During a session held at the Baabda Palace, the Lebanon Cabinet approved the country’s state budget for 2022. At a press conference following the session, Prime Minister Najib Miqati said the budget is expected to generate revenues of LBP 39,000

Aldar Properties announced its preliminary financial results for the full year of 2021, reporting revenues of AED8.58 billion, up 2 percent year-on-year, a gross profit of AED3.60 billion, up 21 percent year-on-year, and a net profit of AED2.33 billion, up

The Abu Dhabi National Oil Company (ADNOC) announced today the discovery of natural gas resources offshore of the Emirate of Abu Dhabi. Interim results from the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession operated by Eni,

Governor of the Central Bank Riad Salameh announced recently that commercial banks can now purchase Lebanese bank notes for cash dollars based on the exchange rate of the Sayrafa platform. Reports suggest banks are short on Lebanese pounds and are