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Press Dossier   By Date  16/05/2023
Oil prices rise prospects of tighter supplies
RIYADH: Oil prices edged up on Monday as optimism about tightening supplies from the Organization of the Petroleum Exporting Countries and its allies supported crude prices.
Saudi Arabian Mining Co.forms JV with US firm to undertake 'largest exploration program'
RIYADH: Saudi Arabian Mining Co., also known as Ma’aden, finalized a deal to purchase 9.9 percent shares of American mining technology company Ivanhoe Electric Inc. for $126.5 million and form a 50-50 joint venture to undertake one of the largest exploration projects ever.
Riyad Bank partners with NEOM to fund Sindalah
RIYADH: Luxury tourist destination Sindalah island has received a SR3 billion ($800 million) boost thanks to a new partnership with Riyad Bank.
Egypt sells $121.6m stake in state-controlled Telecom Egypt
RIYADH: Egypt’s government has sold a 9.5 percent stake in state-controlled Telecom Egypt for 3.75 billion Egyptian pounds ($121.6 million), the finance ministry has revealed, breathing life into a privatization program that had seemingly stalled.
Adnoc L&S: Abu Dhabi-based company aims to raise $607 million in IPO, sets price range of Dh1.99-Dh2.01
Adnoc Logistics and Services expects to raise up to $607 million (Dh2.23 billion) by selling 1.1 billion shares, representing 15 per cent stake in the firm, in an initial public offering and to list its shares on the Abu Dhabi Securities Exchange (ADX).
US: Fed's Bostic sees no rate cuts in 2023
Atlanta Federal Reserve President Raphael Bostic said on Monday that he doesn’t foresee rate cuts at least through 2023, even if there’s a recession.
Dubai’s prime housing market set to record highest global growth
The prime residential market in Dubai is expected to experience the highest growth rate globally, data from a leading property consultancy shows.
‏UAE: Gold prices edge up in Dubai in early trade
Gold prices edged up in Dubai and globally on Monday morning as the US debt ceiling stalemate and concerns of an economic slowdown steered some traders towards the safe-haven metal.
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