Sunday 4 December 2022

GCC market seals 59 M&A deals in Q3; Multiply tops list

Multiply Group leads the GCC M&A in Q3 2022 as the market sealed a total of 59 transactions, a growth of 23% y-o-y, said a report issued by the Investment Banking Department of Kuwait Financial Centre ‘Markaz’.    Saudi Arabia recorded the h


Mideast carriers see 15% drop in cargo volumes in Oct

Middle Eastern carriers experienced a 15% year-on-year decrease in cargo volumes in October, as headwinds continued to affect global air cargo demand, said the  International Air Transport Association (IATA) in a new report. This was a marginal improvement to the previous mo


Alba looks for collaboration at Arabal 2022 for line expansion

Aluminium Bahrain (Alba) looks forward to collaborating with regional producers as it plans to set up its new Line 7 Expansion Project, said Alba Chairman of the Board of Directors Shaikh Daij bin Salman bin Daij Al Khalifa.    Leading the firm’s dele


DMCC boosts UAE-Poland relations through deal with KSEZ

Dubai Multi Commodities Centre (DMCC) has signed a Memorandum of Understanding (MoU) with the Katowice Special Economic Zone (KSEZ) aimed at creating new business opportunities between the UAE and Poland.    The agreement will see DMCC and KSEZ work closely


Stanley Black & Decker wins Taqdeer CSR Award

Stanley Black & Decker has been chosen by Taqdeer Award for its commitment and dedication towards workforce welfare.   Receiving the award, Parmesh Venkateswaran, General Manager Middle East & East and West Africa, Stanley Black & Decker: “Indu


Qatar executives bullish on future economic growth

Executives in Qatar remain bullish about future prospects for the country, with around 82% expecting the economic growth of the coming five years to meet or exceed forecasts.     This is according to the latest findings in the Qatar Investment Outlook


Steep fall in ocean freight rates, demand down

Long-term ocean freight rates suffered a steep month-on-month decline in November as subdued spot prices, weak demand, and ongoing economic uncertainty caught up with contracted container agreements.    The latest data from the Xeneta Shipping Index (XSI) i


KSA capital markets to be ‘key to powering corporate investments’

Saudi Arabia’s capital markets will play a key role in funding not just private sector investments but also giga-projects such as Neom, the IPO for which is expected in 2024, said S&P Global Ratings.   Government reforms and high oil p


Schneider Electric joins with UAE firm to make energy solutions

Schneider Electric is committed to empowering the UAE’s industrial sector and recently joined forces with Arab Development Establishment to manufacture energy management solutions in the UAE.   The move supports the ‘Make it in the Emirates’ st


Global trade growth slowing towards year-end: WTO

Trade growth is likely to slow in the closing months of 2022 and into 2023, according to the latest WTO Goods Trade Barometer, as the global economy continues to be buffeted by strong headwinds. The current reading of 96.2 is below both the baseline value for the index and the pr

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