• Aramco CEO highlights collaboration with Beijing at forum in China

    AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in his speech on Monday at the China Development Forum in Beijing. Nasser underscored the possibility of fostering broader economic globalization by strengthening ties with Chinese partners and identified specific areas...
  • Saudi Aramco CEO calls energy transition strategy a failure

    Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current energy transition strategy as a misguided failure on Monday. "In the real world, the current transition strategy is visibly failing on most fronts," Saudi Aramco Chief Executive Amin Nasser said...
  • Middle East emerges as a major player in global CEO appointments: report

    Dubai, UAE - The Middle East has emerged as a prominent player in global CEO appointments, securing 68 out of a total of 1,221 positions at the largest public listed companies worldwide. Heidrick & Struggles revealed in a report titled "Route to the Top 2023". The countries contributing to these appointments...
  • Passenger traffic could exceed earlier figures, says Dubai Airports’ CEO

    DUBAI, UAE – The airport here has "every chance" of breaking its record for passenger traffic this year after surpassing pre-pandemic levels in 2023, Dubai Airports' CEO told AFP on Monday. Dubai International, the world's busiest airport for international passengers for nearly a decade, hit 87 million visits in 2023, beating...
  • NatWest profit soars 32%

    The British bank's net profit jumped to US$5.5bn in 2023.
  • Abu Dhabi Airports appoints Elena Sorlini as Managing Director and CEO

    Abu Dhabi, UAE - Abu Dhabi Airports, the operator of Abu Dhabi's five commercial airports, has announced the appointment of Elena Sorlini as its Managing Director and Chief Executive Officer. Sorlini transitions into the role permanently after serving in an interim capacity since June 2023. Since joining Abu Dhabi Airports,...
  • ITFC looks to ramp up green financing to 30% of its portfolio

    Dubai, UAE-- The International Islamic Trade Finance Corporation (ITFC) is looking to ramp up its sustainable and green financing to nearly 30% of its total financing portfolio. This was stated by Hani Salem Sonbol, CEO of the ITFC, affiliated with the Islamic Development Bank Group. Speaking to the Emirates News...
  • Astra Tech to launch financial services powered by AI in 2024, says CEO

    ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first financial services empowered by artificial intelligence (AI) in 2024. In statements to the Emirates News Agency (WAM) on the sidelines of the Abu Dhabi Financial Week (ADFW), Abu-Sheikh said that...
  • Abu Dhabi hosts ‘Fortune Global Forum’ to debate challenges to global economy

    Abu Dhabi, UAE-- The world's top heads of multinational companies, policy-makers, and investors will gather in Abu Dhabi today to take part in the three-day long "the Fortune Global Forum" to discuss major challenges faced by the global economy. Organised by the Abu Dhabi Department of Economic Development (ADDED), the...
  • Bank of Sharjah joint lead manager for $350m Ittihad sukuk

    SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million 144A/Reg S senior unsecured sukuk for Abu Dhabi-based Ittihad International Investment LLC, alongside other international and regional banks. In response to the successful closure of this transaction, Mohamed Khadiri, CEO...
  • Bahrain’s BIBF partners with UpGradelle to boost digital transformation

    Manama, UAE--The Bahrain Institute of Banking and Finance (BIBF) has partnered with UpGradelle, a leading French-based consultancy firm, to develop capabilities in the field of digital transformation. The agreement was signed during the visit of Eric Giraud-Telme, the Ambassador of France, who serves to strengthen education and training ties between...
  • OpenAI announces Sam Altman to return as CEO

    In a letter released to media, the vast majority of the company's 770-strong staff suggested they would follow Altman unless the board responsible for his departure resigned. Among the signatories was co-founder Ilya Sutskever, OpenAI's chief scientist and a member of the four-person board who pushed Altman out.
  • Disney adds 7m subscribers

    The bump in subscription came amid its cost-cutting campaign.
  • DEWA discusses cooperation in renewable energy with German delegation

    Dubai, UAE-- Dubai Electricity and Water Authority (DEWA) has held discussions with a delegation from Germany on how to boost cooperation in clean and renewable energy. In this regard, Saeed Mohammed Al Tayer, MD and CEO of DEWA), received a high-level delegation from the German region of Lusatia, led by...
  • New CEO appointed in SRC

    Majeed Al Abduljabbar will be the CEO from January 1, 2024.
  • First wind turbines reach Saudi green hydrogen plant, says CEO

    RIYADH, SAUDI ARABIA - The first wind turbines have arrived at what Saudi officials bill as the world's biggest green hydrogen plant, in the futuristic NEOM megacity, the project's CEO told AFP on Tuesday. "This week, we have our first delivery of wind turbines. They actually arrived in the port of...
  • DP World spends US$6bn

    It invested the money to be a big supply chain player.
  • Ooredoo Algeria gets new CEO

    Roni Tohme, the Acting CEO, has been confirmed as the CEO.
  • Yahsat to invest US$100m

    It is for capital expenditure of T4-NGS satellite program.
  • Top Middle East bankers leave Credit Suisse for HSBC

    Dubai, UAE -  Credit Suisse Qatar CEO Aladdin Hangari is joining HSBC. Patrick D’Amico, a Zürich based Credit Suisse Managing Director and Strategic Client Partner, as well as several other senior team members will be joining HSBC with him.  D’Amico and his colleagues are a leading Middle East banking team...
  • Saudi Arabia scouts Europe for business tie-ups in healthcare, mining sectors

    Riyadh, Saudi Arabia-- Saudi Arabia is aiming to establish a slew of business partnerships in healthcare and mining sectors with companies in the UK, Germany, besides discussing humanitarian cooperation in Spain. In this connection, Saudi officials are engaged in productive meetings to strengthen partnerships and explore collaborations.  Saudi minister of...
  • Advertising executive Linda Yaccarino is new CEO of Twitter

    Elon Musk has chosen top ad executive Linda Yaccarino to take the day-to-day reins of Twitter as he fights to reverse the tide at the struggling platform he bought for US$44 billion last year. Yaccarino is a highly respected advertising executive who stepped down from NBCUniversal "effectively immediately" on Friday.
  • Healthcare, education key focus of MENA: Amanat CEO

    The region will benefit from investment in training institutes for nursing and health professionals, Amanat Holding CEO Mohamed Hamade tells TRENDS during an interview.
  • Empower 2022 net profit $762m

    Firm has proposed dividend of S$115 million for 2nd half 2022.
  • Tesla CEO Elon Musk takes stand in California fraud trial

    San Francisco, United States--Tesla CEO Elon Musk took the stand in a California fraud trial on Friday, accused of lying in tweets about taking the auto company private, punishing investors. Musk was called to testify by lawyers for angry investors who accuse him of costing them millions of dollars in 2018...
  • Golden age of AI is underway and will redefine work: Microsoft CEO

    Davos-Klosters, Switzerland-- Satya Nadella, Microsoft Chairman and CEO, believes that a golden age of AI is underway and will redefine work as we know it. Speaking at a session of the World Economic Forum, Nadella said: “The future of work is not just about technology and tools,” he said. It’s...
  • Ahmed Galal Ismail replaces Alain Bejjani as Majid Al Futtaim CEO

    The reasons behind the change of guard were not immediately clear as Ismail takes charge as chief executive officer of Majid Al Futtaim. He has been responsible for the conglomerate’s malls, hotels, communities and project management operations since 2018. while Bejjani had served the firm for eight years.
  • Europe will return to Russian gas, says Qatar energy minister

    ABU DHABI, UAE - European countries will eventually resume higher imports of Russian gas, Qatar's energy minister and gas company CEO predicted on Saturday, warning that market volatility could last for years. Russian gas exports to Europe plunged after Moscow's invasion of Ukraine but Saad Sherida al-Kaabi, head of QatarEnergy,...
  • ECI names acting CEO

    Raja Al Mazrouei will succeed Massimo Falcioni.
  • Dior and Louis Vuitton name new chief executives

    Paris, France--French luxury group LVMH announced a leadership shuffle on Wednesday, naming new chief executives at major brands Christian Dior Couture and Louis Vuitton. Delphine Arnault, a top executive at Louis Vuitton and daughter of billionaire LVMH boss Bernard Arnault, will become CEO of Dior perfume and fashion house, LVMH said...
  • Amazon CEO says 18,000 jobs to be cut from workforce

    Washington, United States--Amazon announced Wednesday it will cut more than 18,000 jobs from its workforce, citing "the uncertain economy" and the fact that the online retail giant had "hired rapidly" during the pandemic. "Between the reductions we made in November and the ones we're sharing today, we plan to eliminate just...
  • Twitter users vote to oust Elon Musk as CEO

    Analysts have also pointed out that the stock price of Tesla has slumped by one-third since Musk's Twitter takeover. The share price briefly rallied by 3.3 percent on Monday before fading. "It's hard to ignore the numbers since [the Twitter] deal closed," tweeted investment expert Gary Black, saying he reckoned...
  • Musk polls Twitter users on his future as CEO

    The unpredictable billionaire posted the poll shortly after apparently acknowledging he had made a mistake banning Twitter users from promoting their accounts on rival social media platforms. "Going forward, there will be a vote for major policy changes. My apologies. Won't happen again," he tweeted.
  • Saudi Arabia and Kuwait to jointly develop Al-Durra gas field

    Riyadh, Saudi Arabia—Saudi Arabia has signed a memorandum of understanding (MoU) with Kuwait on Sunday to develop Al-Durra gas field shared between the two countries. President and CEO of Saudi Arabian Oil Company Eng. Ali Bin Saleh Al Ajmi signed the MoU for the Saudi side, while CEO Kuwait Gulf...
  • Saudi Aramco, Energy ministry ink pact to build a carbon capture and storage hub

    Saudi Arabia is embarking on initiatives such as the Saudi Green Initiative and the Middle East Green Initiative to meet its climate change commitments.
  • Egypt’s Sovereign Fund accumulates assets worth $621m

    Riyadh, Saudi Arabia— Egypt's Sovereign Fund has accumulated assets worth $621-660 million as it seeks to double it by the same size next year. The CEO of the fund, Ayman Soliman, said that the issued capital of the fund has been fully covered at $5 billion. The fund's financing sources,...
  • Foreign firms can now get approval for dual listing on Tadawul

    Riyadh, Saudi Arabia— Foreign companies will be able to obtain approval for dual listing on the Saudi market, according to Tadawul’s CEO. Mohammed Al-Rumaih told media that companies need finance to expand in particular industries, noting that the capital market aims to be the first partner to provide finance for...
  • Aramco to launch US$1.5bn sustainability fund for energy transition

    Riyadh, Saudi Arabia— Aramco will launch a $1.5 billion sustainability fund to invest in stable and inclusive energy transition technology. According to its CEO Amin Nasser, the fund will be managed by the company's venture capital arm Aramco Ventures. The CEO said that the fund will be “among the biggest...
  • CMA approves 18 listings on Tadawul

    Tadawul is also developing a market marker for the bourse.
  • Qatar urges separating politics from the oil and gas trade

    Qatar energy minister also called on governments and multilateral institutions to condemn sabotage and military attacks on energy infrastructure or electricity networks.
  • Tesla profit jumps; revenues miss estimates

    Tesla watchers are expecting a strong fourth quarter.
  • Qatar hopes to make US$17bn in profit from World Cup

    The 2022 World Cup may prove to be a big windfall for Qatar as it hopes to make some $17 billion in profit from the event. The global sporing event is expected to draw tens of thousand of football fans from around the world to watch dozens of games in...
  • Lazard hires Citi Saudi CEO

    Al-Khatib will support the firm’s operations in MENA.
  • Shell says CEO stepping down at end of 2022

    The outgoing CEO, 64, has presided over a tumultuous time at the energy titan, weathering collapsing oil prices in 2020 as Covid lockdowns ravaged demand.
  • New PPP law will help UAE achieve competitive economy: Massimo Falcioni

    PPPs boost efficiency, increase transparency in funds management, simplify processes that have cost implications, and integrate technologies, said ECI CEO
  • BinDawood CEO resigns

    Ahmad BinDawood stepped down due to personal reasons.
  • Starbucks names outgoing Reckitt leader as next CEO

    Narasimhan, who was most recently chief executive of Anglo-Dutch multinational Reckitt, will relocate to Seattle from London and join Starbucks on October 1, the company said in a news release. Following a stretch working with longtime Starbucks CEO and interim boss Howard Schultz, Narasimhan will take over the top spot...
  • Evorra secures extra $1m for data marketing at scale

    Evorra CEO Aaron Ritoper said that the company has developed with regular input from a community of brands which believe in the power of a decentralised data service.
  • Pegasus spyware firm to focus on NATO countries, CEO to step down

    The indebted, privately owned company also said it would focus sales on countries belonging to the NATO alliance. In July last year, an investigation revealed that Pegasus spyware had been sold by NSO to governments around the world and used against human rights activists, politicians, reporters and others.
  • Nothing should hold Arab women back: Suzy Kanoo

    Not only Arab women but all women should not be fettered by anything in pursuit of their goals, the Bahrainian CEO and author told TRENDS.
  • GCC central banks should hike rates to combat inflation: L’AZURDE CEO

    Inflation is an opportunity for a company to review strategically the portfolio of plans it offers, says L'azurde CEO.