Aramco rises for 3rd session, hovers at $2 trillion valuation

Dubai: Saudi Aramco shares gained for a third straight session since its record market debut and valuation of the oil behemoth hovered at the long-sought $2 trillion mark. Shares, which rose to a limit of 10 per cent on its debut on Wednesday and a little over 4 per cent the following day, ended 1.6 […]

India’s sovereign fund rewrites business model

Abu Dhabi: India’s audacious aim to attract investments of $1.5 trillion (Dh5.5 trillion) into its capital-starved infrastructure sector over the next five years can only be realised through unique experiments in public money and private investments from countries like the UAE. That’s according to the chief of the country’s first sovereign wealth fund. “In India, you […]

Saudi Arabia’s lenders NCB, Riyad Bank scrap merger talks

Dubai: Saudi Arabia’s National Commercial Bank (NCB), the kingdom’s biggest lender by assets, and its smaller rival, Riyad Bank, said on Monday they had scrapped talks to merge their businesses. The merger talks, which had begun last year, was expected to create a combined entity with over $180 billion in assets. “The boards of both […]

UAE and Egypt to strengthen trade relations, boost bilateral exports

Dubai: The UAE and Egypt have agreed to strengthen trade relations and boost bilateral exports between the two countries through a Memorandum of Understanding signed between Etihad Credit Insurance, ECI, the UAE Federal Export Credit company and the Export Credit Guarantee Company of Egypt, ECGE. “Taking into account the very strong non-oil trade relations between […]

Khalifa University to host region’s first-ever International Association for Energy Economics Middle East Symposium in Abu Dhabi

ABU DHABI: Khalifa University of Science and Technology today announced it will host the region’s first-ever IAEE Middle East Symposium in Abu Dhabi to assess the impacts of economic diversification, new technologies and climate concerns on the Middle East energy outlook. Organised by the International Association for Energy Economics, IAEE, on Monday, the event will […]

US exports to China to nearly double in ‘totally done’ trade deal — Lighthizer

WASHINGTON: The “phase one” US-China trade deal will nearly double US exports to China over the next two years and is “totally done” despite the need for translation and revisions to its text, US Trade Representative Robert Lighthizer said on Sunday. Lighthizer, speaking on CBS’ “Face the Nation” programme, said there would be some routine […]

Dubai-Abu Dhabi trip in 12 minutes, UAE gears up for self-driving journey

Dubai: How soon will it take for residents in UAE and other Gulf states to get into a driver-less public transport service? Not that long… if the $50 billion worth of “smart city” projects the UAE and Saudi Arabia will spend in the next five years get the desired results. A significant portion of these […]