Stocks sink, Oil surges as Russia attacks Ukraine
Global stocks and U.S. bond yields dived on Thursday, while the dollar, gold and oil prices rocketed higher as Russian forces fired missiles at several Ukrainian cities and landed troops on its south coast. Shortly after President Vladimir Putin said he had authorized what he called a special milita
SCR has obtained the Approval for its Retakaful Window
Société Centrale de Réassurance (SCR), subsidiary of Caisse de Dépôt et de Gestion (CDG) Group, has obtained the agreement from the Insurance and Social Security Supervisory Authority (ACAPS) for the creation of a “RETAKAFUL” window to carry out TAKAFUL reinsurance operations in acc
S&P 500 confirms Correction as Stocks Stumble on War Fears
The S&P 500’s 1% slump confirmed that the world’s most watched stock index was in a correction for the first time since the 2020 Wall Street plunge brought on by the COVID-19 pandemic. U.S. investors sold stocks amid growing fears of war between Russia and Ukraine, paring some losse
VW faces US $ 155 M Losses from Ship Fire
The cargo ship that caught fire last week carrying about 4,000 Volkswagen vehicles could cost the automaker at least $155 million, according to one consultant’s estimate. Of the roughly $438 million total value of goods aboard the Felicity Ace, which went up in flames off the coast of Portu
Saudi Lender Stock Rises to Record After Capital Plan
Al Rajhi Bank shares surged to a record after the second-biggest Saudi Arabian lender rolled out a $4 billion plan to grow its business. The Riyadh-based bank will offer 3 bonus shares for every 5 held, according to a statement. That will raise its capital to 40 billion riyals ($10.7 billion) from 2
UAE Income Tax Is Not on the Table for Now
The United Arab Emirates will not introduce an income tax for the time being, a senior official said, weeks after the Gulf nation unveiled a new company tax as part of an effort to shed its tax haven image. The Gulf country said earlier this year it would impose a 9% corporate tax starting in [&hell
Oman Re’s reports GWP Growth of 11% for 2021
Oman Re, the Sultanate’s first and only reinsurer, reported Gross Written Premium (GWP) of OMR 27.6m (USD 71.7m) for the year end 31 December 2021, representing a 11% rise compared to previous year’s OMR 24.8m (USD 64.3m), thus demonstrating a Compound Annual Growth Rate (CAGR) of 23.9% from yea
Thousands of VW Group Cars adrift on Burning Cargo Ship
A cargo ship carrying thousands of new cars bound for the US caught fire on Wednesday. Its crew was evacuated, but the vehicles are still on board. The Volkswagen Group confirmed nearly 4,000 of its vehicles are on the ship. Porsche, Audi, Volkswagen, and other vehicles may be onboard.
Top 5 Oil Producing Arab Countries for 2021
The top 5 oil producing Arab countries for 2021: 1. Saudi Arabia: 12,402,761,040 Barrels 2. Iraq: 4,443,457,393 Barrels 3. United Arab Emirates: 3,772,788,273 Barrels 4. Kuwait: 2,990,544,137 Barrels 5. Qatar: 1,987,192,978 Barrels Source: Worldometer
iFX EXPO Dubai 2022 organized by Ultimate Fintech
The iFX EXPO Dubai will take place at Za’abeel Hall 6, Dubai World Trade Centre from 22-24 February 2022. Organised by Ultimate Fintech, the event will be at the UAE’s leading event venue and one of the largest exhibition centres in the world. Register now on the link below: https://lnkd.in/