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Business

Focused coverage of the latest developments in Business, in clear language with continuous updates.

Business

Federal Reserve Member: Inflation Remains High in All Aspects of the U.S. Economy

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Rivera Plus2 minutesSunday, 20 September 2026 at 18:00

Business

Limited Impact of the Iran War on the Iraqi Transport Sector

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Ofoq News1 minuteSunday, 20 September 2026 at 16:54

Business

The Sudanese Government Prepares New Decisions to Face Economic Pressures

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Rivera Plus1 minuteSunday, 20 September 2026 at 16:36

Business

Minister of Housing: The Facilities Management Market in Saudi Arabia Exceeds 50 Billion Dollars

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Ofoq News2 minutesSunday, 20 September 2026 at 16:24

Business

Indonesia Turns to "Toyota" to Support the Automotive Sector and Local Manufacturing

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Ofoq News1 minuteSunday, 20 September 2026 at 16:07

Business

Brazil Turns to Moroccan Fertilizers to Overcome Global Supply Chain Crisis

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Ofoq News2 minutesSunday, 20 September 2026 at 15:42

Business

Batak Investment Stock Records Largest Daily Decline in 11 Weeks

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Ofoq News1 minuteSunday, 20 September 2026 at 15:40

Business

Criticism of the new discount intended to be applied to fuel prices in Germany

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Ofoq News2 minutesSunday, 20 September 2026 at 15:39

Business

"ESCWA" to Arabic: $140 Billion Bill for Trade Disruptions in the Region

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Ofoq News2 minutesSunday, 20 September 2026 at 13:33

Business

"Spimaco" Resolves the Controversy Surrounding "Qassim Medical": No Exit Currently

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Ofoq News2 minutesSunday, 20 September 2026 at 12:34

Business

300 billion dollars.. What are the tech giants hiding in the race for artificial intelligence?

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Ofoq News5 minutesSunday, 20 September 2026 at 11:18

Business

"PIF" Launches "Tawreed" Company to Provide Supply Chain Financing Products in Saudi Arabia

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Ofoq News3 minutesSunday, 20 September 2026 at 10:01

Business

President of the General Union of Industries and the Governor of Hebron inaugurate the Aluminum and Glass Industries Union headquarters

Hebron - Ofoq News - The President of the General Union of Palestinian Industries, Nasar Nasar, and the Governor of Hebron, Khaled Dudin, inaugurated the headquarters of the Aluminum and Glass Industries Union in Hebron Governorate, in the presence of the Deputy President of the Union, Economic Advisor Ahmad Hassouna, and members of the Board of Directors. The inauguration ceremony was attended by the Deputy Governor of Hebron, Taysir Al-F.

Ofoq News2 minutesSunday, 20 September 2026 at 09:23

Business

Currency and Metal Prices

Bethlehem - Ofoq News - The exchange rates of currencies against the shekel today are as follows: Dollar - Buy 3.01 Sell: 3.06 Dinar - Buy: 4.23 Sell: 4.33 Euro - Buy: 3.46 Sell: 3.51 Metals: Gold: Buy 4376 Sell 4379 Silver: Buy 66.20 Sell 66.30 To subscribe to the SMS service to receive prices

Ofoq News1 minuteSunday, 20 September 2026 at 05:17

Business

Turkey Cancels License of Iranian "Mellat" Bank

Ankara - Ofoq News - The Turkish Banking Regulation and Supervision Agency has canceled the operating license of the Iranian Mellat Bank branch in Istanbul, according to a decision published today, Saturday, in the official gazette, at a time when the United States is intensifying its economic pressure on Tehran. The announcement stated, 'It has been decided to cancel the operating license of Mellat Bank, headquartered in Tehran.'

Ofoq News2 minutesSaturday, 19 September 2026 at 10:48

Business

Launch of the "Ofoq News Economic" Platform in Arabic

Dubai, United Arab Emirates - The "Ofoq News Economic" platform Ofoq News Business Arabic was launched on January 15, 2023, managed by the International Media Investments (IMI) and in partnership with the commercial department of the Ofoq News Global Network (CNNIC), as a digital business platform that provides news, facts, and insights.

Ofoq News1 minuteTuesday, 17 January 2023 at 12:37

Business

Launch of the "Ofoq Economic News" Platform in Arabic

Dubai, United Arab Emirates - The "Ofoq Economic News" platform, Ofoq News Business Arabic, was launched on January 15, 2023, under the management of the International Media Investments (IMI) and in partnership with the commercial division of the Ofoq News Global Network (CNNIC), as a digital business platform providing news, facts, and insights.

Ofoq News1 minuteTuesday, 17 January 2023 at 12:37

Business

Apple CEO agrees to a 40% pay cut after shareholder revolt.. How much is it?

Dubai, United Arab Emirates - Tim Cook, the CEO of Apple, the largest technology company in the world, has agreed to a 40% pay cut following a shareholder revolt. Apple stated in a statement that it will reduce the targeted salary package for its CEO to $49 million, which is 40% less than his previous salary.

Ofoq News2 minutesFriday, 13 January 2023 at 23:42

Business

Apple CEO agrees to a 40% pay cut after shareholder revolt.. How much is it?

Ofoq News2 minutesFriday, 13 January 2023 at 23:42

Business

After China.. "Tesla" Reduces Prices of Its Cars in the United States and Europe

Dubai, United Arab Emirates - Tesla has reduced the prices of its electric cars in the United States and Europe by up to 20%, to expand its aggressive discount strategy, after falling short of Wall Street's delivery estimates in 2022. This move resulted in a 4% drop in shares.

Ofoq News3 minutesFriday, 13 January 2023 at 20:49

Business

After China.. "Tesla" Reduces Prices of Its Cars in the United States and Europe

Ofoq News3 minutesFriday, 13 January 2023 at 20:49

Business

Egypt.. Significant Increases in Prices of Goods, Cars, and Building Materials with the Decline of the Pound Against the Dollar

Dubai, United Arab Emirates - The prices of basic goods, building materials, and cars in Egypt have risen due to the decline of the pound against the dollar, with the price of a ton of steel increasing by 2500 pounds ($84.61), and cement by 100 pounds ($3.38). The percentage increase in car prices varied among different models.

Ofoq News6 minutesThursday, 12 January 2023 at 23:19

Business

Egypt.. Significant Increases in Prices of Goods, Cars, and Building Materials with the Decline of the Pound Against the Dollar

Ofoq News6 minutesThursday, 12 January 2023 at 23:19

Business

Food Products Crisis in Egypt.. Record Prices for Poultry and Shortage of Oil and Boycott Campaigns

Cairo, Egypt - The food products market in Egypt has witnessed a significant increase in poultry prices, exceeding 60 Egyptian pounds ($2.02) per kilogram for consumers, for the first time in history, due to the substantial rise in feed prices, according to breeders, and the supply of oil in retail chains and stores has noticeably decreased. In response to

Ofoq News4 minutesThursday, 12 January 2023 at 08:28

Business

Food Products Crisis in Egypt: Record Prices for Poultry and Shortage of Oil with Boycott Campaigns

Cairo, Egypt - The food products market in Egypt has witnessed a significant increase in poultry prices, exceeding 60 Egyptian pounds ($2.02) per kilogram for consumers, for the first time in history, due to the substantial rise in feed prices, according to breeders. The supply of oil in commercial chains and stores has noticeably decreased.

Ofoq News4 minutesThursday, 12 January 2023 at 08:28

Business

The Pound Continues Its Decline Against the Dollar, Reaching a Record Level After the IMF Agreement

Dubai, United Arab Emirates - The price of the Egyptian pound against the dollar dropped by 7.7% during trading on Wednesday, with the greenback reaching 29.63 pounds for buying and 29.76 pounds for selling at the Central Bank - marking a new record level - and the pound continues its decline against the dollar by more than 100% since the decision to devalue.

Ofoq News4 minutesWednesday, 11 January 2023 at 19:09

Business

The Pound Continues Its Decline Against the Dollar.. and Records a New High After the IMF Agreement

Dubai, United Arab Emirates - The price of the Egyptian pound against the dollar fell by 7.7% during trading on Wednesday, with the greenback reaching 29.63 pounds for buying and 29.76 pounds for selling at the Central Bank - marking a new record high - and the pound continues its decline against the dollar by more than 100% since the devaluation decision.

Ofoq News4 minutesWednesday, 11 January 2023 at 19:09

Business

M&M's Makes Changes to Its Candy Product Packaging and Sparks Cultural Controversy

New York, USA - M&M'S candy company has issued a statement with its latest candy package, which features an entirely female cast of characters - including Purple, which represents its latest addition, putting the company once again at the center of the cultural wars. Mars, the manufacturing company, announced

Ofoq News3 minutesWednesday, 11 January 2023 at 11:58

Business

M&M's Makes Changes to Its Candy Packaging and Sparks Cultural Controversy

New York, USA - M&M'S candy manufacturer has issued a statement with its latest candy package, which features a complete set of female characters - including Purple, representing its latest addition, putting the company once again in the midst of the cultural wars. Mars, the manufacturing company, announced...

Ofoq News3 minutesWednesday, 11 January 2023 at 11:58

Business

Egypt.. The government postpones "Dollar Projects" to rationalize public spending

Dubai, United Arab Emirates - The Egyptian Prime Minister, Mostafa Madbouly, issued a package of decisions to "rationalize public spending" and postpone "dollar projects" at a time when the country is facing a significant shortage of foreign currency reserves. According to a government statement on Monday, Madbouly's decisions included postponing the implementation of any new projects that have not been

Ofoq News1 minuteMonday, 9 January 2023 at 22:57

Business

Egypt.. The government postpones "dollar projects" to rationalize public spending

Dubai, United Arab Emirates - Egyptian Prime Minister Mustafa Madbouly issued a package of decisions to "rationalize public spending" and postpone "dollar projects" at a time when the country is facing a significant shortage of foreign currency reserves. According to a government statement on Monday, Madbouly's decisions included postponing the implementation of any new projects that have not been started.

Ofoq News1 minuteMonday, 9 January 2023 at 22:57

Business

These Cities Are Packed with Millionaires.. Here Are the Top 10 Cities by Number of Millionaires

Dubai, United Arab Emirates - The global citizenship and residency consulting firm "Henley & Partners" has revealed a report highlighting the high net worth population data in the wealthiest cities in the world during the third quarter of 2022. The analysis included more than 150 cities across five regions around the world.

Ofoq News2 minutesMonday, 9 January 2023 at 14:22

Business

These Cities Are Crowded with Millionaires.. Here Are the Top 10 Cities by Number of Millionaires

Dubai, United Arab Emirates - The global citizenship and residency consulting firm "Henley & Partners" has revealed a report highlighting high net worth population data in the wealthiest cities in the world during the third quarter of 2022. The analysis included over 150 cities across five regions around the world.

Ofoq News2 minutesMonday, 9 January 2023 at 14:22

Business

Suez Canal: Sudden Technical Failure in the Engines of the "Glory" Ship.. Towed to the "Balah" Area for Repairs

Dubai, United Arab Emirates - After reports of the "Glory" ship running aground in the Suez Canal in Egypt on Monday, the Suez Canal Authority clarified that the ship's engines experienced a sudden technical failure, prompting the authority's tugboats to tow it to the "Balah" area for repairs. The head of the Suez Canal Authority, Lieutenant General Osama Rabie, stated.

Ofoq News1 minuteMonday, 9 January 2023 at 12:27

Business

A Startup in Abu Dhabi Plans to Send Quinoa Seeds to Space.. Why?

Dubai, United Arab Emirates - The climate crisis has significantly impacted the cultivation of many food crops, prompting some scientists and entrepreneurs to seek solutions beyond our planet. The startup "StarLab Oasis" in Abu Dhabi, an extension of a Texas company called "Nanoracks", aims to grow seeds in space.

Ofoq News4 minutesSunday, 8 January 2023 at 13:10

Business

Does Saudi Arabia Allow the Sale of Alcohol in Duty-Free Shops at Customs Ports?

Dubai, United Arab Emirates - The Saudi Authority for Zakat and Tax responded on Friday to questions about whether the sale of alcoholic beverages would be allowed in duty-free shops at customs ports in the Kingdom, confirming that "it is not allowed to sell them." The Authority for Zakat and Tax stated via its Twitter account,

Ofoq News2 minutesFriday, 6 January 2023 at 20:47

Business

Dubbed the "Spotify of the Middle East".. What is the next step for "Anghami"?

Dubai, United Arab Emirates - The platform "Anghami" describes itself as the largest music streaming app in the Middle East and North Africa. It was quickly dubbed the "Spotify of the Middle East."

Ofoq News3 minutesFriday, 6 January 2023 at 12:56

Business

Summoning of Saudi Public Investment Fund Chairman Yasir Al-Rumayyan in Musk's 'Secured Funding' Tweet Case

New York, USA - Elon Musk's legal team has summoned Yasir Al-Rumayyan, the Chairman of the Public Investment Fund of Saudi Arabia, as part of the litigation regarding the Tesla CEO's 2018 tweet in which he stated that he was considering taking the car company private and that he had secured funding.

Ofoq News2 minutesFriday, 6 January 2023 at 11:14

Business

The dollar exceeds 27 pounds.. and the decline of the Egyptian currency reflects on the stock market

Cairo, Egypt - The price of the Egyptian pound continued to decline against the US dollar and foreign currencies on Thursday, as the price of the dollar reached 27.07 pounds for buying and 27.16 pounds for selling according to data from the Central Bank of Egypt. Experts attributed the reasons for the pound's decline again to the Central Bank adopting a sustainable flexible exchange rate system, in line with

Ofoq News4 minutesThursday, 5 January 2023 at 18:42

Business

Amazon Plans to Lay Off More Than 18,000 Employees

- Amazon CEO Andy Jassy announced on Thursday the plan to lay off more than 18,000 employees across several departments, including retail and human resources. Jassy stated in a statement that "companies that last for a long time go through different phases."

Ofoq News1 minuteThursday, 5 January 2023 at 06:38