Economy
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World Bank warns of ‘lost decade’ as growth slows following COVID-19, Ukraine
The global economy’s potential growth through the end of the decade has slowed to the weakest in 30 years, the…
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UAE central bank sees 4.3 percent economic growth in 2024: Report
The United Arab Emirates’ central bank expects the country’s gross domestic product (GDP) to increase by 4.3 percent in 2024,…
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Silicon Valley Bank: Collapsed US lender bought by rival
The assets and loans of collapsed US lender Silicon Valley Bank (SVB) are being bought by rival First Citizens BancShares.…
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Oman’s OQ seeks bookrunners for gas pipelines IPO, sources say
Oman’s OQ Gas Network, the pipelines business of the sultanate’s state oil giant OQ, has invited banks to pitch for…
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Zhejiang Petrochemical to sell 10 percent stake in Rongsheng Petrochemical to Aramco
Chinese private refiner Zhejiang Petrochemical has agreed to sell 1 billion shares in its trading arm, Rongsheng Petrochemical, to Saudi…
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Al Ansari owners raise $210 million in Dubai’s first IPO of 2023
The owners of remittance and money exchange firm Al Ansari Financial Services raised 773 million dirhams ($210 million) after pricing…
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Abu Dhabi’s Presight AI soars on market debut
Shares in Abu Dhabi big data analytics company Presight AI climbed as much as 176 percent on their stock market…
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Saudi National Bank appoints al-Ghamdi as chairman
Saudi National Bank Chief Executive Saeed Mohammed al-Ghamdi has been appointed as the bank’s chairman after the resignation of Abdul…
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Qatari Sheikh Jassim submits new bid for Man United: UK media
Qatari Sheikh Jassim bin Hamad Al Thani has submitted a new bid to buy Manchester United, according to UK media…
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UBS seeks dealmaking revival in Middle East with Credit Suisse takeover
UBS Group AG may use its takeover of Credit Suisse Group AG as an opportunity to rebuild its investment banking…
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