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India’s FreshToHome raises $121 million to grow its meat and vegetable e-commerce platform

FreshToHome, an Indian e-commerce startup that sells fresh vegetables, fish, chicken and other kinds of meat, has raised $121 million in a new financing round as the Bangalore-headquartered firm reports accelerated growth spurred by the coronavirus pandemic. The startup, which offers its service in several major Indian cities including Delhi, Mumbai, Pune, Bangalore, and Hyderabad, is processing about 1.5 million orders a month, up from 420,000 monthly orders last year, said Shan Kadavil, co-fou...
Tags: Food, Ecommerce, Uber, Apps, Asia, Saudi Arabia, India, Funding, Tech, Zynga, Dubai, Uae, Hyderabad, Bangalore, Advisor, Kolkata


UK faces new legal challenge over arms sales to Saudi Arabia

Campaigners seek judicial review of renewal of sales after court ruled them unlawfulCampaigners have filed for a judicial review of the UK government’s decision to renew arms sales to Saudi Arabia.The Campaign Against Arms Trade (CAAT) said the weapons would “fuel destruction and prolong the conflict” in Yemen, where a Saudi-led coalition has employed widespread bombing in a war that has killed thousands of civilians. Continue reading...
Tags: Politics, UK, Saudi Arabia, UK News, World news, Middle East and North Africa, Foreign Policy, Yemen, Arms trade, Liz Truss, Trade Policy, Campaign Against Arms Trade CAAT


Saudi Arabia's Green Hydrogen Plan Won't Erode Oil's Dominance - Bloomberg

Saudi Arabia's Green Hydrogen Plan Won't Erode Oil's Dominance - Bloomberg Saudi Arabia is building the world’s biggest green hydrogen facility, but oil will continue to be the kingdom’s main business after the plant starts operating in 2025. The $5 billion project will use renewable energy to produce hydrogen equivalent to as much as 15,000 barrels of oil a day, Ahmad Al-Khowaiter, Saudi Aramco’s chief technology officer, said last week. Saudi Arabia plans to increase its production capacity ...
Tags: Travel, Saudi Arabia, Rupert Neil Bumfrey, Dominance Bloomberg, Dominance Bloomberg Saudi Arabia, Khowaiter Saudi Aramco


Oil industry will be out of favor but not under assault if Joe Biden wins, a top Wall Street energy analyst says

The final presidential debate at Belmont University in Nashville, Tennessee, on October 22, 2020. Brendan Smialowski and Jim Watson/AFP via Getty Images The oil industry will be out of favor, but not under attack, if Democrat nominee Joe Biden wins the presidential election, a renowned oil analyst said."With a Biden administration, I don't think it's a wholesale assault on the fossil fuel industry," Helima Croft, head of commodity strategy at RBC Capital Markets, told Business Insider in an...
Tags: Europe, Obama, Congress, Saudi Arabia, Senate, White House, Russia, US, Trends, Opec, Joe Biden, Biden, Goldman, Business Insider, Trump, Fed


Muslims call for French goods boycott to protest caricatures

Muslims in the Middle East and beyond on Monday broadened their calls for boycotts of French products and protests, as a clash over depictions of the Prophet Muhammad and the limits of free speech intensified. Kuwaiti stores pulled French yogurts and bottles of sparkling water from their shelves, Qatar University canceled a French culture week, and calls to stay away from the Carrefour grocery store chain were trending on social media in Saudi Arabia and the United Arab Emirates. Protests have...
Tags: News, Saudi Arabia, Pakistan, Middle East, Gaza Strip, Muhammad, Carrefour, Iraq Turkey, Qatar University, United Arab Emirates Protests


MIDEAST STOCKS-Aldar lifts #AbuDhabi, Egypt extends losses | Nasdaq

MIDEAST STOCKS-Aldar lifts Abu Dhabi, Egypt extends losses | Nasdaq Abu Dhabi's index .ADI closed higher on Monday boosted by gains in Aldar Properties ALDAR.AD following a government projects management deal, while Egypt's stock market extended losses as Commercial International Bank Egypt COMI.CA continues to drop following removal of its chairman by the central Bank.The Abu Dhabi index .ADI advanced 1.2% as Aldar Properties ALDAR.AD surged 14.9%, its biggest daily gain since December 18, 2014...
Tags: Travel, Saudi Arabia, Qatar, Egypt, Dubai, Kuwait, Tasi, Rupert Neil Bumfrey, Commercial Bank COMB QA, Emirates NBD Bank ENBD, Qatar National Bank QNBK QA, BKP, Aldar Properties ALDAR, Sulaiman Al Habib Medical Services Group, Abu Dhabi Egypt, Nasdaq Abu Dhabi


Saudi Arabia: Saudi Arabia's New Mining Law - Jones Day

In recent years, Saudi Arabia has witnessed substantial growth in the production of primary, midstream, and downstream mineral and metals products catering to both local and export markets.
Tags: News, Saudi Arabia


Mideast’s Top Private Equity Firm Ready to Pounce as Rivals Fade - Bloomberg

Mideast’s Top Private Equity Firm Ready to Pounce as Rivals Fade - BloombergThe biggest private equity and alternative asset manager in the Middle East is on the lookout for deals after the economic fallout of the pandemic made companies cheaper to buy and scandals thinned out the competition.Investcorp Holding BSC, which manages about $34 billion, is looking to do more in the region across the health-care, transport, logistics and industrial sectors, said Walid Majdalani, the firm’s head of pri...
Tags: Travel, Saudi Arabia, Bloomberg, Middle East, Dubai, North Africa, Mideast, Investcorp, Rupert Neil Bumfrey, Shailesh Dash, Abraaj Capital, Al Masah Capital Ltd, Investcorp Holding BSC, Walid Majdalani, Majdalani


World should look at all options to reduce emissions, not get rid of oil, gas, #Saudi energy minister says | Reuters

World should look at all options to reduce emissions, not get rid of oil, gas, Saudi energy minister says | Reuters Saudi Arabia’s energy minister said on Monday the world should be looking at all options to mitigate emissions of greenhouse gases in its fight against climate change, but that getting rid of oil and gas would be “far-fetched and unrealistic”.“Let’s not focus on the fuel of choice but rather how we can mitigate and adapt to these realities without showing any preferences,” Abdulaz...
Tags: Travel, Saudi Arabia, Reuters, Rupert Neil Bumfrey, Abdulaziz bin Salman Al Saud, Singapore Energy Summit


#Dubai Bourse Set for First IPO in Three Years With Al Mal REIT - Bloomberg

Dubai Bourse Set for First IPO in Three Years With Al Mal REIT - BloombergAl Mal Capital plans to sell shares in its real estate investment trust in January, reviving the IPO market in Dubai.The company has received regulatory approval to list Al Mal Capital REIT on Dubai Financial Market PJSC, according to a statement on Monday. It is targeting an offer size of 500 million dirhams ($136.1 million) to acquire a diversified portfolio of real estate assets.The DFM last saw an IPO in 2017, in contr...
Tags: Travel, Saudi Arabia, Bloomberg, Dubai, Rupert Neil Bumfrey, DFM, Nasdaq Dubai, Al Mal Capital, Al Mal REIT BloombergAl Mal Capital


MIDEAST STOCKS- #Saudi stocks extend losses, #UAE gains in early trade | Nasdaq

MIDEAST STOCKS-Saudi stocks extend losses, UAE gains in early trade | NasdaqMost Gulf stocks fell in early trading on Monday, with Saudi Arabia extending losses from the previous session as oil prices fell, but indexes in the United Arab Emirates traded higher due to a bounce in real estate shares.Oil slid more than 2%, extending last week's losses as a growing number of COVID-19 cases in the United States and Europe raised worries about crude demand, while the prospect of increased supply also ...
Tags: Travel, Europe, Saudi Arabia, United States, United Arab Emirates, Dubai, Abu Dhabi, Uae, Saudi Aramco, Tasi, Rupert Neil Bumfrey, Dubai Investments, Al Mal Capital, Emaar Properties EMAR, NasdaqMost Gulf, Sulaiman Al Habib Medical Services Group


#Saudi Index Drops Most Since May in Final-Hour Slump: Inside EM - Bloomberg

Saudi Index Drops Most Since May in Final-Hour Slump: Inside EM - Bloomberg Saudi Arabia’s Tadawul All Share Index fell the most in five months amid renewed concern about measures to contain the spread of coronavirus.The benchmark index retreated 4.1% to 8,154.59, the lowest level in more than seven weeks. The decline, which led losses among major benchmarks in the Middle East on Sunday, accelerated in the final hour of trading in Riyadh.Large caps Saudi Basic Industries Corp., the chemical mak...
Tags: Travel, Saudi Arabia, Bloomberg, Middle East, Riyadh, Saudi Aramco, SABIC, Saudi Basic Industries Corp, Jabal Omar Development Co, Rupert Neil Bumfrey, Al Rajhi Bank, Bloomberg Saudi Arabia, Ekhbariya TV, Clariant AG Saudi Arabia, Mohammed Al Shemimry, Mohammed Ashemimry Financial Consultants


#Saudi index sees biggest fall since May | Reuters

Saudi index sees biggest fall since May | ReutersSaudi Arabian shares fell sharply on Sunday in a broad sell-off, while a plunge in Commercial International Bank weighed on the Egyptian index.The kingdom’s benchmark index slid 4.1%, its biggest intraday fall since May, with Saudi Basic Industries Corp (SABIC) shedding 4.5% and oil giant Saudi Aramco losing 2.3%.SABIC, the Gulf’s largest petrochemical firm, reported a net profit of 1.09 billion riyals ($290.64 million) in the third-quarter, up fr...
Tags: Travel, Saudi Arabia, Qatar, Yemen, Gulf, Reuters, Saudi Aramco, SABIC, CIB, Abu Dhabi Commercial Bank, Rupert Neil Bumfrey, Emaar Malls, Commercial International Bank, Gulf Egypt, First Abu Dhabi Bank, Saudi Basic Industries Corp SABIC


UPDATE 2-S.Arabia's STC hires banks for IPO of subsidiary -sources | Reuters

UPDATE 2-S.Arabia's STC hires banks for IPO of subsidiary -sources | ReutersSaudi Telecom Co (STC) has hired banks to arrange a potential initial sale of shares in its product and services development arm, Solutions by STC, three sources familiar with the matter told Reuters.STC, Saudi Arabia’s largest telecoms operator, has appointed HSBC, Morgan Stanley and the investment banking arm of Saudi lender National Commercial Bank to advise on the sale, according to the sources, who declined to be id...
Tags: Travel, Saudi Arabia, Hsbc, Reuters, STC, NCB Capital, Rupert Neil Bumfrey, National Commercial Bank, HSBC Morgan Stanley, ReutersSaudi Telecom Co STC, Reuters STC, STC Morgan Stanley


#Saudi's Al Rajhi Bank reports 3% drop in third-quarter profit, impairments up | Reuters

Saudi's Al Rajhi Bank reports 3% drop in third-quarter profit, impairments up | ReutersAl Rajhi Bank 1120.SE, Saudi Arabia's second-largest lender by assets, reported a 3% drop in third-quarter net profit on Sunday, but beat analysts' forecasts.The bank made 2.66 billion riyals ($709.28 million) in the three months to Sept. 30, down from 2.74 billion riyals in the same period a year earlier, it said in a bourse statement.Analysts had forecast a net profit of 2.39 billion riyals, according to Ref...
Tags: Travel, Saudi Arabia, Reuters, Rupert Neil Bumfrey, Al Rajhi, Al Rajhi Bank, ReutersAl Rajhi Bank


#Saudi slips in early trade; #Dubai edges up | Reuters

Saudi slips in early trade; Dubai edges up | ReutersSaudi Arabia’s stock market fell early on Sunday, hurt by financials and petrochemical shares, while gains in top lender Emirates NBD supported the Dubai index.The Saudi benchmark index .TASI declined 0.6%, with the country's largest lender National Commercial Bank 1180.SE dropping 1.2% and Saudi Basic Industries Corp (SABIC) 2010.SE losing 0.7%.SABIC, the Gulf’s largest petrochemical firm, reported a net profit of 1.09 billion riyals ($290.64 ...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Yemen, Gulf, Jizan, Reuters, Emirates NBD, SABIC, Saudi Basic Industries Corp, Abha, Qatar Islamic Bank, Tasi


Why #SaudiArabia's dependence on Aramco billions is 'unsustainable' - Arabianbusiness

Why Saudi Arabia's dependence on Aramco billions is 'unsustainable' - ArabianbusinessSaudi Arabia's dependence on dividends paid by state-controlled oil giant Aramco to delay spending cuts is not sustainable and the kingdom may face challenges to keep its debt/GDP ratio under control, according to a leading analyst.Eirini Tsekeridou, fixed income research analyst at Julius Baer, told Arabian Business that Saudi Arabia will only be able to deliver a balanced budget in 2023 as the economy struggle...
Tags: Travel, Saudi Arabia, Julius Baer, Rupert Neil Bumfrey, Arabian Business


Turkish burgers off the menu in Saudi Arabia as trade boycott bites fast food industry

With its spicy sauce and Ottoman-themed packaging, the “Turkish burger” is one of the more exotic choices on the menu at Saudi Arabian restaurant Herfy. Or, at least, it was. This week, the Turkish patty has vanished from the menu and been replaced with an identical “Greek burger,” the latest casualty of Saudi Arabia’s unofficial boycott of Turkish products. “It’s the same thing,” one Herfy worker, Mahmood Bassyoni, told customers as he offered them a taste of the burger, according to Bloomberg ...
Tags: News, Saudi Arabia, Bloomberg, Turkey, Middle East, Erdogan, Istanbul, Riyadh, Tayyip Erdogan, Mohammed bin Salman, Saudi Arabian, Crown Prince of Saudi Arabia, Jamal Khashoggi, Herfy, Mahmood Bassyoni, Al Sadhan Group


Last Rites for Venezuela’s State-Owned Oil Company

Venezuela is in the throes of an unprecedented economic collapse. Oil, Venezuela’s lifeblood, is being mismanaged by Petróleos de Venezuela (PDVSA), the country’s state-owned oil company. Faced with dwindling revenue from PDVSA, the government has relied on its central bank to finance public expenditures. To satisfy these demands, the Banco Central de Venezuela has turned on the printing presses, and, as night follows day, hyperinflation has reared its ugly head again.In total, there have only b...
Tags: News, Saudi Arabia, Venezuela, Nicolás Maduro, Lebanon, George W Bush, Exxon, National Guard, Hugo Chavez, PDVSA, Chavez, Quevedo, State Owned Oil Company, Asdrubal Chavez, Manuel Quevedo, Petroleos de Venezuela PDVSA


Saudi Arabia joins Trump-led coalition claiming women have ‘no international right to abortion’

Further distancing itself from longtime U.S. allies regarding reproductive rights, the Trump administration on Thursday joined 32...
Tags: Saudi Arabia, Trump


Russia's Putin: rollover on oil output curbs possible | Reuters

Russia's Putin: rollover on oil output curbs possible | Reuters Russian President Vladimir Putin said on Thursday that Russia did not rule out keeping existing curbs on global oil output and not easing them as previously envisaged.His comments are the clearest signal yet from Russia, a global leader in oil production, that it is ready to continue with unprecedented output cuts in the face of a sluggish oil market beset by the coronavirus pandemic and overproduction.Putin said on Thursday he has...
Tags: Travel, Putin, Vladimir Putin, Saudi Arabia, Russia, Opec, United States, Reuters, Rupert Neil Bumfrey, Valdai Discussion Club


MIDEAST STOCKS-Lender Emirates NBD buoys #Dubai; Egypt extends losses | Nasdaq

MIDEAST STOCKS-Lender Emirates NBD buoys Dubai; Egypt extends losses | NasdaqDubai's stock market ended higher on Thursday, driven by a rebound in its top lender Emirates NBD ENBD.DU, while Egyptian stocks fell sharply due to a broad selloff in blue-chip shares.Dubai's main share index .DFMGI rose 0.7%, led by a rebound in its largest lender Emirates NBD ENBD.DU, following two sessions of losses.On Tuesday, the lender reported a sharp decline in quarterly profit, hit by a rise in bad debt charge...
Tags: Travel, Saudi Arabia, Egypt, Dubai, Abu Dhabi, Adi, Tasi, Saudi Telecom Company, Rupert Neil Bumfrey, Gulf Egypt, Emirates NBD ENBD, Mostafa Madbouly, Lender Emirates NBD, El Sewedy Electric SWDY, Emirates Telecommunications Etisalat ETISALAT


MIDEAST STOCKS-Major Gulf markets mixed in early trade, #Dubai index up | Nasdaq

MIDEAST STOCKS-Major Gulf markets mixed in early trade, Dubai index up | Nasdaq Major stock markets in the Gulf were mixed early on Thursday, in the absence of fresh factors to trade on, with top lender Emirates NBD ENBD.DU boosting the Dubai index. Saudi Arabia's benchmark index .TASI fell 0.2%, hurt by a 0.8% drop in National Commercial Bank 1180.SE and a 1.4% retreat in Etihad Etisalat (Mobily) 7020.SE despite reporting a higher third-quarter profit.Saudi Telecom Company 7010.SE, however, g...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Adi, Tasi, Etihad Etisalat, Saudi Telecom Company, Rupert Neil Bumfrey, Damac, Hussain Sajwani Damac, QSI, Emirates NBD ENBD, Qatar National Bank QNBK


Rep. Ilhan Omar, other lawmakers seek US boycott of G20 summit in Saudi Arabia

A group of 45 Democratic lawmakers Wednesday called on Secretary of State Mike Pompeo to withdraw the U.S. from the G20 summit next...
Tags: Saudi Arabia, US, Democratic, State, Mike Pompeo, Ilhan Omar


Saudi women's summit accused of 'whitewashing' record on rights

Sister of jailed activist, Loujain al-Hathloul, says attendees legitimise regime that silences womenThe sister of a jailed Saudi activist has criticised a G20-linked women’s summit hosted by Riyadh this week as a disturbing attempt to whitewash the country’s dismal record on women’s rights.Loujain al-Hathloul has been in prison for more than two years without trial after campaigning for an end to Saudi Arabia’s ban on women driving and its system of male guardianship, which effectively relegates...
Tags: Saudi Arabia, G20, World news, Middle East and North Africa, Riyadh, Loujain al Hathloul, Women's rights and gender equality


Gulf Bond Flurry Sets $102 Billion Record Before U.S. Election - Bloomberg

Gulf Bond Flurry Sets $102 Billion Record Before U.S. Election - Bloomberg:  A burst of debt deals in the Gulf has pushed issuance to a record in the region as borrowers rush to shore up their oil-dependent budgets before the U.S. presidential vote.  Gulf Cooperation Council sovereigns and corporates have sold $102 billion in debt so far this year, already exceeding the highest full-year figure. Junk-rated Oman was in the market on Wednesday with a sale of seven and 12-year dollar notes, alongs...
Tags: Travel, Saudi Arabia, Joe Biden, Frankfurt, Oman, Donald Trump, Uae, Gulf, Trump, Gulf Cooperation Council, Rupert Neil Bumfrey, Qatar Islamic Bank SAQ, Investment Corporation of Dubai, Sergey Dergachev, Union Investment Privatfonds GmbH, Biden White House


#SaudiArabia News: BinDawood Holding Surges in IPO on Stock Exchange - Bloomberg

Saudi Arabia News: BinDawood Holding Surges in IPO on Stock Exchange - Bloomberg:  The BinDawood family’s fortune soared after shares in their eponymous Saudi Arabian grocery business rose by 10% on their first day of trading.  Members of the family own a 67% stake worth about $2.2 billion in BinDawood Holding Co., according to Bloomberg calculations based on the IPO prospectus. They also raised about $500 million from the initial public offering.  BinDawood is one of the biggest grocery chain...
Tags: Travel, Saudi Arabia, Ipo, Bloomberg, Riyadh, Rupert Neil Bumfrey, Stock Exchange Bloomberg, BinDawood Holding Co, BinDawood Holding Surges, Khaled Dawood Ibrahim BinDawood


Jamal Khashoggi's fiancee sues Saudi crown prince Mohammed bin Salman

Hatice Cengiz files US lawsuit against leader and 28 ‘co-conspirators’ over journalist’s murderThe fiancee of the murdered Saudi journalist Jamal Khashoggi is suing the Saudi crown prince, Mohammed bin Salman, and two dozen other Saudis in the US courts, accusing them of direct involvement in the dissident’s gruesome killing in Istanbul two years ago.Hatice Cengiz and Democracy for the Arab World Now (Dawn), a Washington-based rights group set up by Khashoggi shortly before his death, filed a la...
Tags: Washington, Saudi Arabia, US, World news, Middle East and North Africa, District Of Columbia, Istanbul, Mohammed bin Salman, Khashoggi, Jamal Khashoggi, Hatice Cengiz, Arab World Now Dawn


Switzerland of the Middle East: Economic crisis threatens #Oman’s neutrality | Financial Times

Switzerland of the Middle East: Economic crisis threatens Oman’s neutrality | Financial Times:  Sandwiched between Saudi Arabia and Iran, Oman has long prized its neutrality, garnering a reputation as the Middle East’s Switzerland.  But the Gulf state’s ability to steer clear of regional power struggles has been put at risk by economic woes that have been exacerbated by the coronavirus pandemic and the slump in oil prices. The IMF forecasts an economic contraction of 10 per cent this year, f...
Tags: Travel, Saudi Arabia, Middle East, Switzerland, Oman, Financial Times, Imf, Gulf, Rupert Neil Bumfrey, Qaboos bin Said al Said, Sultan Haitham bin Tariq Al Said, Iran Oman


Beheading in France could bolster president's claim that Islam is in 'crisis' – but so is French secularism

A French high school teacher who had shown caricatures of the Prophet Muhammad to his class was beheaded on Oct. 16 by an 18-year-old Muslim refugee in what France’s President Emmanuel Macron characterized as an “Islamist terrorist attack.”The killing is the latest high-profile attack by a Muslim extremist in France, coming after the 2015 massacre at Charlie Hebdo magazine and the 2016 truck attack in Nice. It also occurred two weeks after Macron gave a controversial speech defining Islam as “a ...
Tags: Facebook, News, Obama, France, Saudi Arabia, Africa, America, Barack Obama, United States, Egypt, Islam, Mali, Muslim, Catholic, Algeria, Parliament