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ADNEC to acquire ‘Royal Catering’

Royal Catering has more than 2.500 employees.

PIF sets up sarcc company

The new entity will address growing staff accommodation demand.

Boeing to cut 10% of workforce

The company has projected a large third-quarter loss.

AviLease acquires 9 aircraft from Avolon

AviLease had purchased 13 aircraft from Avolon in 2023.

ADNOC L&S to pay $136.5m dividend

This is equivalent to 6.78 fils per share, the company said.

Foreign investments boost Saudi financial market

Saudi Arabia's financial market is on an upward trajectory, fueled by substantial foreign investments and strategic economic diversification under Vision...

Empowering Arab women Sheikha Bodour’s key focus

Sheikha Bodour Al Qasimi, from the American University of Sharjah, advocates for diversity, inclusion, and continuous learning in leadership roles...

Saudi Arabia turns to maritime to diversify revenues

Saudi Aramco's King Salman Complex, set to be the largest marine industry hub in the Middle East, is expected to...
  • Saudi Aramco's King Salman Complex, set to be the largest marine industry hub in the Middle East, is expected to boost Saudi Arabia's GDP by over $17 billion
  • The complex aims to localize technologies and meet the needs for building offshore oil and gas rigs, offshore platforms, offshore support vessels, and crude tankers

Eastward shift: GCC builds strategic ties with ASEAN

Trade between GCC and ASEAN doubles, marking a new economic collaboration era as Saudi Arabia, Qatar, Oman, and UAE enhance...
  • Trade between GCC and ASEAN doubles, marking a new economic collaboration era as Saudi Arabia, Qatar, Oman, and UAE enhance ties by signing Treaty of Amity and Cooperation
  • The UAE dominates Gulf investments in ASEAN with 74% share from 2016 to 2021 as recent free trade agreements with Indonesia and Singapore indicate expanding GCC-ASEAN ties

Flying taxis: Saudi Arabia stares at sustainable skies

NEOM, the Kingdom's futuristic city, hosts Volocopter's pioneering eVTOL aircraft test flights, marking a substantial stride towards sustainable, smart mobility.
  • NEOM, the Kingdom's futuristic city, hosts Volocopter's pioneering eVTOL aircraft test flights, marking a substantial stride towards sustainable, smart mobility
  • 'Taxi ports', air traffic systems, private sector participation, and new regulations are crucial to futuristic transportation to ensure safety and efficiency in mobility

$1.3trn mineral reserves shift Saudi focus to mining

The Kingdom, leveraging its significant copper reserves across the nation, seeks to address the global shortage, particularly crucial amid the...
  • The Kingdom, leveraging its significant copper reserves across the nation, seeks to address the global shortage, particularly crucial amid the transition towards clean energy
  • The Kingdom, despite facing challenges in logistics and water provision at mining sites, is harnessing technology and collaborations to improve production quality

Arab SWFs accelerate dealmaking amid scarce funding

Joint investments by sovereign funds hit a record $17.2 billion in H1 this year as Gulf states fund global equity...
  • Joint investments by sovereign funds hit a record $17.2 billion in H1 this year as Gulf states fund global equity firms, including KKR & Co., EQT AB, and Brookfield
  • Middle Eastern investors, including the Abu Dhabi Investment Authority and Mubadala Investment Company, are planning to invest billions in high-profile acquisitions

Gulf economies pivot towards China: Multi-billion dollar investments strengthen relations

Economic ties between China and the Gulf region's largest economies, Saudi Arabia and the UAE, have surged since President Xi...
  • The value of Gulf companies' acquisitions and investments in China this year increased by more than 1,000 percent yearly to $5.3 billion
  • Abu Dhabi's sovereign wealth fund, the "Mubadala Investment Company," is expanding its operations in China to attract investments

Travel companies give wings to Saudi tourism aspirations

Fueling this ambition is an intricate web of travel companies, including tour operators, airlines, accommodation providers, cruise lines, and destination...
  • The Kingdom, aiming to draw 100 million yearly visitors by 2030, is planning to invest over US$1 trillion in tourism over the next decade
  • Travel companies play a key role in promoting Saudi tourism, developing packages, and collaborating with public sector entities

GCC project awards surge by 86% to $49.7bn in Q2

The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength...
  • The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength of GCC economies
  • Saudi Arabia leads as GCC's largest projects market, while the UAE experiences a 127 percent surge, reaching US$12.2bn in the second quarter of 2023

Trade hits new high as GCC-Japan ties get warmer

Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs.
  • In 2020, Gulf countries' imports from Japan were estimated to be around $17.3 billion, down from $24.3 billion in 2018
  • Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs

Saudi Arabia: An emerging tourism hub

The Kingdom is harnessing the potential of tourism for economic growth, job creation, and cultural exchange. In 2022, Saudi Arabia...
  • With impressive tourism statistics and a vision to attract 100 million annual visits by 2030, the Kingdom aims to contribute 10% to its GDP through tourism
  • Saudi Arabia seizes opportunities through visa simplification, major events, and new markets as sustainability drive and Vision 2030 help the sector grow

Foreign investments boost Saudi financial market

Saudi Arabia's financial market is on an upward trajectory, fueled by substantial foreign investments and strategic economic diversification under Vision...

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Saudi football dominates Gulf sports scene this year

The Kingdom's football undergoes a historic transformation in 2023 with major investments and player signings, and Saudi Arabia wins the...

GCC forges ahead in sustainable tech initiatives

In 2023, the Gulf countries made a strong push towards renewable energy and pioneering green hydrogen projects, signaling a significant...

Saudi Arabia, UAE lead MENA’s smart city development

In 2023, the region advanced in smart city initiatives, with Saudi Arabia and the UAE leading the transformation, with Frost...

Most Read

COP28 initiatives to narrow climate finance disparity

Antoine Samaha of BCG applauds the launch of a Loss and Damage Fund for developing countries, emphasizing the need for...
  • At COP28, a significant focus was placed on climate finance, with the establishment of a Loss and Damage Fund to aid developing countries.
  • Antoine Samaha of BCG underscores the urgency of securing more funds and ensuring its equitable distribution to combat climate change.

Clean energy sees marked investment rise since 2020

With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is...
  • With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is making strides towards a greener future, says an expert.
  • However, challenges remain in meeting the Paris Agreement goals and ensuring all nations can participate in the transition, adds Ferdinand Varga of Boston Consulting Group.

Cloud security challenges haunt firms in UAE and KSA

Rapid cloud adoption in the two GCC countries is accompanied by increased security risks, leading to costly data breaches, reveals...
  • Rapid cloud adoption in the two GCC countries is accompanied by increased security risks, leading to costly data breaches, reveals a latest study by Illumio.
  • Organizations have been advised to adopt robust security measures, including Zero Trust Segmentation, to protect against emerging cyber threats.