Saudi wealth fund, BlackRock to jointly explore Mideast infrastructure projects
Saudi Arabia’s sovereign wealth fund and BlackRock have signed an agreement to jointly explore infrastructure projects in the Middle East, focused on Saudi Arabia.
Saudi Aramco joins oil results bonanza with 39% jump in net income
Saudi Arabian state oil producer Aramco beat forecasts on Tuesday with a 39% jump in third-quarter net income and reported record free cash flows, joining rivals in benefiting from higher prices and robust demand.
Exclusive: Saudi, UAE save oil firepower in case of winter supply crisis
OPEC leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a “significant increase” in oil output should the world face a severe supply crisis this winter, sources familiar with the thinking of the top Gulf exporters said.
Dubai leads major Gulf bourses higher as Omicron fears ease
Most stock markets in the Gulf rose in early trade on Tuesday, on receding worries about the impact of the Omicron coronavirus variant, with the Dubai index outperforming the region.
Housing affordability to worsen near-term, even as prices cool off
The sizzling pace of house price rises in most major world housing markets since the pandemic began has likely peaked, but affordability is set to remain stretched or worsen in the next few years, according to Reuters polls of experts.
Dubai house prices to rise modestly, stay affordable in coming years
Dubai’s residential property market is on a steady course, with prices expected to rise modestly over the next couple of years, according to a Reuters poll of housing analysts who say property prices there will remain affordable during that time.
Analysis: OPEC disagreement lays bare growing UAE-Saudi economic rivalry
Rare public disagreement between the United Arab Emirates and Saudi Arabia over OPEC policy points to a growing economic rivalry between the two largest Arab economies which only looks set to intensify, several regional analysts said.
EXCLUSIVE New Saudi airline plan takes aim at Emirates, Qatar Airways
Saudi Arabia plans to target international transit passenger traffic with its new national airline, going head-to-head with Emirates and Qatar Airways and revving up regional competition.
Maersk VC co-leads funding round in Egyptian start-up Trella
Egyptian startup Trella, a digital platform connecting truckers with freight loads, has raised $42 million in equity and debt, including from the venture capital arm of shipping giant Maersk, its chief executive said.
Dubai Airshow to take place under capacity restrictions, organiser says
The Dubai Airshow, this year’s biggest aerospace trade show and a spectacle for business deals worth billions of dollars, will be held under capacity restrictions in November due to the coronavirus pandemic, its organiser said.
