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DAE 9M net profit $310m

The company said this was a 54.9 percent YoY increase in net profit.

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.

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’s FDI bid: Economic zones, 100% foreign ownership, tax sops

The kingdom hopes that its regulatory incentives and strategic location would help it compete with the UAE, whose tax-free zones...
  • The kingdom's availability of natural resources, organizational changes, and a young population add to its attraction for the investors
  • The country has benefited from the rise in oil prices caused by the Ukrainian war and is expected to achieve the G20's highest growth rate

GCC-listed firms post record growth in 2022, fueled by a thriving energy sector

Net profit reported by the companies jumped to a record high of US$ 273.3 billion in 2022,  compared to US$...
  • Net profit reported by the companies jumped to a record high of US$ 273.3 billion in 2022,  compared to US$ 199.0 billion in 2021
  • The energy sector alone witnessed US$ 74.2 billion, or 37.3 percent growth, mainly on the back of a steep jump in profits led by Aramco

GCC data center market to reach $5.5bn by 2028

Major cloud service providers such as Microsoft, Tencent Cloud, Oracle, Amazon Web Services, and Alibaba Cloud are establishing local cloud...
  • Saudi government has implemented the Cloud First policy to encourage the adoption of cloud services
  • Microsoft, Tencent Cloud, Oracle, Amazon Web Services, and Alibaba Cloud are establishing local cloud regions

Why do firms falter in Middle East’s booming sectors?

In the last 10 years, a motley of supposedly best-run companies in the Middle East have collapsed, disappearing into obscurity....
  • In order to stave off total ruin and collapse of a business, industry experts recommend for the board to take charge of strategy, in cahoots with the management.
  • Many experts blame disagreements within a board, or a lack of team spirit as the reason for tipping a company toward a slow demise

Saudization, progress help KSA reduce unemployment

Since the launch of Vision 2030, the kingdom's unemployment rate has notably dropped due to economic development, job localization, and...
  • Since the launch of Vision 2030, the kingdom's unemployment rate has notably dropped due to economic development, job localization, and greater women participation in labor market
  • The Saudi Ministry of Human Resources, which conducted a labor market supply and demand study, aims to create a national unit to identify future specializations and required skills

TRENDS poll: GCC residents opt to be in Dubai for Eid vacation

Most of the participants, in the poll from as far away as Egypt and Lebanon, picked up Dubai to celebrate...
  • Dubai has been attracting young travelers in droves, thanks to its infrastructure, cleanliness, beaches, and high levels of safety
  • Qatar has seen an influx of tourists, with a record number already being registered in the first two months of the year

UAE, Saudi Arabia lead GCC in job outsourcing

The latest developments are generating substantial growth opportunities for both local and international service providers in the outsourcing market, a...
  • The latest developments have generated substantial growth opportunities for both local and international service providers in the outsourcing market, a report points out
  • The UAE's outsourcing market is expected to reach US$6.8 billion in 2023, while Saudi Arabia's outsourcing market is projected to reach US$5.7 billion in 2027, it adds

Economic crisis, Ukraine war impact Arab currencies

The currencies of six Arab nations faced significant decline during the first quarter of 2023 amidst global economic uncertainty, while...
  • The currencies of six Arab nations faced significant decline during the first quarter of 2023 amidst global economic uncertainty, while another six experienced growth
  • Economic challenges, the strengthening US dollar, and the ongoing Russian-Ukrainian war have all played a role in the recent currency fluctuations

TRENDS Poll: Inflation takes biggest bite from Gulf household incomes during Ramadan

The poll discovers people struggling across the Middle East to cope with high cost of living in the holy month...
  • Egypt has seen inflation vault to 32 percent in February with the government taking steps to mitigate its effect on low-income groups
  • Lebanon is facing a more severe cost-of-living crisis, with inflation reaching up to 123 percent in January

Priorities set to spur Saudi digital transformation

Organizations across the Kingdom are witnessing major DX impact in customer satisfaction, cost efficiencies, and data-driven insights, an IDC executive...
  • Organizations across the Kingdom are witnessing major DX impact in customer satisfaction, cost efficiencies, and data-driven insights, an IDC executive tells TRENDS
  • More than 50 percent of chief information officers in Saudi Arabia are now focused on transitioning their existing business models to digital ones, says an IDC report

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...

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Conflict hits regional gas supply and infrastructure

The Israel-Hamas conflict has halted gas production at the Tamar plant, significantly impacting the region's infrastructure and disrupting Israel's gas...

AI transforms office roles and enhances productivity

Artificial intelligence automates tasks and boosts capabilities, leading to transformative changes in job roles, productivity, and staff engagement dynamics.

Rising temperatures worry MENA region

The Middle East and North Africa (MENA) region faces severe climate change challenges, including water scarcity and extreme temperatures, with...

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Gaza conflict casts shadow on Israel’s gas industry

War with Palestinians disrupts Israel's gas exports, causing economic losses and altering energy strategies.
  • The accounting and consulting firm BDO Israel estimated the economic losses of the closure of the Tamar field at about US$ 201 million a month
  • The gas field supplied 8.7 billion cubic meters of gas to the Israeli market in 2022 while exporting another 1.57 billion cubic meters to Egypt and Jordan

GCC sovereigns eye fiscal rejuvenation

A report by S&P Global Ratings forecasts improved fiscal positions due to higher oil prices, fiscal consolidation and a robust...
  • The report projects a nearly $11 billion deficit on average over 2023-2026 which is 0.5 percent of average GCC GDP over this period
  • Prudent fiscal policy and the relatively higher oil price environment have resulted in some governments repaying part of their debt stock

GCC maintains stable inflation rates despite crises

Pausing of rate hikes by global central banks amid fluctuating inflation rates influences global markets, with specific impacts in the...
  • Pausing of rate hikes by global central banks amid fluctuating inflation rates influences global markets, with specific impacts in the MENA region, says a new report.
  • The latest Kamco report offers an insightful analysis of economic trends in key Gulf countries, shedding light on their unique inflationary challenges and strategies.