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Massoud A Derhally

Massoud A Derhally

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Adnoc Drilling is supporting the expansion of the offshore operations of parent company Adnoc. Photo: Adnoc Drilling
Adnoc Drilling secures $1.53bn contract to boost Adnoc's offshore operations

More than 80% of the contract value will flow back into the UAE economy through Adnoc's In-Country Value programme

EnergyOctober 10, 2022
An internally displaced woman collecting drinking water in Jamshoro district of Pakistan's Sindh province. Flooding that submerged one third of the country and killed more than 1,000 people has piled pressure on its faltering economy. AFP
Moody's slashes Pakistan's rating deeper into junk as economy deteriorates

The government's preliminary estimates put the economic cost of floods at about $30bn, equivalent to 10% of output

BusinessOctober 07, 2022
IMF managing director Kristalina Georgieva called on countries to come together to stabilise the global economy. AFP
IMF chief warns of recession risks as growth is cut ahead of $4tn output loss

Countries need to boost efforts to address food insecurity that is now affecting 345 million people

EconomyOctober 06, 2022
Saudi Energy Minister Prince Abdulaziz bin Salman, centre, with other Opec+ officials at a meeting in Vienna on Wednesday. EPA
Oil prices climb after Opec+ agrees on 2 million bpd output cut

Crude gained more than 10% over the past week in the run-up to the first in-person meeting of the alliance in Vienna

EnergyOctober 06, 2022
People at a food market in Morocco. Better governance can mitigate the risk of debt distress for Mena's oil-importing countries amid a rising interest rate environment, the World Bank says. Doug Pearson / Corbis
Mena economies set for fastest expansion since 2016, World Bank says

Oil-importing countries are vulnerable to soaring energy prices, food inflation and higher global interest rates

EconomyOctober 05, 2022
Protesters carry banners outside Lebanon's central bank in Beirut as they demand their savings from Lebanese banks. AFP
Lebanon’s business conditions at four-month low

Exchange rate weakness continues to drive purchase costs higher

EconomyOctober 05, 2022
The Museum of the Future in Dubai. The UAE economy continues to record strong growth, with its non-oil sector expanding despite a global slowdown. AFP
UAE non-oil economy activity levels rise amid robust demand growth

Purchasing managers' index reading is second-highest since June 2019

EconomyOctober 05, 2022
A medic at Burjeel Hospital in central Abu Dhabi holds a dose of a vaccine developed by Chinese drug maker Sinopharm. Victor Besa / The National
Burjeel Holdings raises $300m from oversubscribed IPO

Offering was more than 29 times oversubscribed, drawing strong demand from the UAE and region, with total gross demand at more than $8.7bn

BusinessOctober 05, 2022
Opec's headquarters in Vienna, Austria. The Opec+ ministerial meeting on Wednesday is the first in-person gathering since March 2020. EPA
Oil prices edge up as Opec+ set to meet and consider biggest output cut

Crude has rallied on news that the supergroup of producers may slash its production levels by 1 million barrels per day

EnergyOctober 04, 2022
Television personality Kim Kardashian breached the anti-touting provision of the federal securities law. Reuters
Kim Kardashian fined $1.26m by SEC for unlawfully promoting crypto security

Celebrity failed to disclose that she was paid $250,000 to publish a post on her Instagram account about Emax tokens, the digital asset security being offered by EthereumMax, regulator says

BusinessOctober 03, 2022
The DFSA's decisions were issued in June 2021 but only published on Monday. Photo: DIFC
DFSA fines KPMG and former principal over Abraaj unit audits

Accounting firm considered defunct group to be one of its most valued clients, referring to it as 'one of our crown jewel clients' when discussing it with other member firms, regulator says

EconomyOctober 03, 2022
Opec's headquarters in Vienna, Austria. Global recession fears, a strong US dollar, surging inflation and monetary tightening around the world have weighed on oil markets. EPA
Oil rallies on news of biggest potential Opec+ output cut in two years

The 23-member alliance meets in Vienna on October 5 to determine production levels

EnergyOctober 03, 2022
A medic at Burjeel Hospital in downtown Abu Dhabi holds a dose of a vaccine developed by Chinese drug maker Sinopharm. Victor Besa / The National
Burjeel IPO: UAE healthcare provider may raise as much as $368m from offering

The subscription period for the offering runs from September 30 to October 4 for both retail and professional investors

MarketsSeptember 30, 2022
Mattar Al Tayer, director general and chairman of the RTA, at the bell-ringing ceremony on Thursday to celebrate the launch of Salik's trading on the Dubai Financial Market. Dubai's toll operator raised over $1bn in its IPO. Chris Whiteoak / The National
Salik shares surge 21% on Dubai Financial Market debut

Company is the third listing on the DFM this year after raising over $1bn in its initial public offering

MarketsSeptember 29, 2022
Aerial view of Abu Dhabi. Business activity in the UAE's non-oil private sector economy has bounced back strongly in 2022. Courtesy: DCT Abu Dhabi
Emirates NBD raises UAE growth forecast to 7% in 2022

Lender's estimate for Emirates' non-oil economy has been revised upward to 4.7% in 2022 from 4.1%

EconomySeptember 28, 2022
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