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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.

Digital innovation spurs gender parity in Middle East

Technology, from digital platforms to AI, offers a transformative avenue for empowering women, says Isabel Neiva of Kearney Middle East...

SVB crash may hit GCC investments in US tech firms

Saudi Arabia and US tech firms have numerous partnerships and investments, with the PIF investing over US$7bn in American companies...
  • Saudi Arabia and US technology firms have numerous partnerships and investments, with the PIF investing over US$7bn in American companies and banks, with key focus on tech sector
  • Middle East startups, however, have become resilient and resistant to setbacks, with a well-established network of startup incubators in Dubai, Abu Dhabi, Riyadh, Manama, and Doha

Reforms help UAE, KSA lead M&A activities in MENA

Local deals account for 51% of total M&A volume with technology sector at 25% as improved market conditions and pro-business...
  • Local deals account for 51% of total M&A volume with technology sector at 25% as improved market conditions and pro-business reforms boost investor confidence in the region
  • Rise in oil prices over the past six years, pro-business legislative reforms, and relaxation of government travel restrictions were some other reasons behind strong M&A activities

GCC banks face minimal impact of US banking crisis

The impact of SVB failure on regional banks and corporates may remain limited due to the diversity of Gulf investment...
  • The impact of SVB failure on regional banks and corporates may remain limited due to the diversity of Gulf investment portfolios, Junaid Ansari of Kamco Invest tells TRENDS
  • The decline in regional indices reflects shaken investor sentiment in global markets, the volatility of interbank rates and uncertainty related to bankruptcy crisis, he adds

GCC insurance sector growth may slow down this year

The expansion of infrastructure investment and medical insurance coverage will continue to drive premiums in 2023, albeit at a slower...
  • The expansion of infrastructure investment and medical insurance coverage will continue to drive premiums in 2023, albeit at a slower pace than in 2022, reports suggest
  • Strong premium growth, relatively modest earnings, and high costs to meet new accounting standards and other regulatory demands will erode capital and solvency buffers

Unequal pay checks plague GCC workplaces

Businesses in the region need to embed diversity strategies by setting diversity KPIs to ensure fair assessments for women and...
  • Reinforcing supportive workplace culture is crucial for MENA employers to effectively attract, recruit and retain talented young women, PwC Middle East’s Norma Taki tells TRENDS
  • To make sustainable progress toward gender equality in the MENA region, businesses should embed diversity strategies aimed at ensuring fair assessments for women, she adds

AI, ML make banks in MENA region smarter and faster

The artificial intelligence is expected to play a significant role in shaping the future of region's financial services, Tarabut Gateway...
  • The artificial intelligence is expected to play a significant role in shaping the future of region's financial services, Tarabut Gateway CCO Adnan Erriade tells TRENDS
  • Every stakeholder in the financial ecosystem stands to gain from open banking, but end customer remains the biggest beneficiary, adds Erriade in an interview

Despite hurdles, women entrepreneurs thrive in MENA tech sector

As the governments and private organizations in the region are taking measures to encourage and support women entrepreneurs in the...
  • A UNESCO study found that 57 percent of Science, Technology, Engineering, and Mathematics graduates in Arab nations are women
  • Another study revealed that 34 percent of the region's tech-focused start-ups have been founded by women

Proactive govt policies, high rates, slow global growth to lower impact of inflation in Gulf region

The GCC countries are likely to benefit from the relative stability in their financial covers due to high oil prices...
  • The GCC countries are likely to benefit from the relative stability in their financial covers due to high oil prices and strong energy exports in 2022, reports suggest
  • Inflation in the GCC averaged at around 4 percent mark and showed a downward trend for most countries in the region during the second half of 2022, they add

Gulf boardrooms lag in gender diversity

The Middle East has made significant progress in advancing gender diversity in the workplace through measures such as generous parental...
  • While more companies are paying closer attention to Diversity, Equity and Inclusion issues in the region, only 8% of seats in Saudi Arabia and 17% in UAE went to women last year
  • However, there's progress in enabling gender diversity in Middle East such as generous parental leave policies and flexible working arrangements for reintegration after long breaks

Qatar eyes 1.5 million Saudi tourists in 2023 after thaw in bilateral relations

Sports, social and marketing events, including various global activities and competitions, are likely to bring in more Saudi tourists, Qatar...
  • Sports, social and marketing events, including various global activities and competitions, are likely to bring in more Saudi tourists, Qatar Tourism's data suggest
  • A package launched at the beginning of this year aims to attract 6 million visitors annually and increase the tourism sector's contribution to the GDP to 12%

Digital innovation spurs gender parity in Middle East

Technology, from digital platforms to AI, offers a transformative avenue for empowering women, says Isabel Neiva of Kearney Middle East...

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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...

Technological advances propel UAE’s payments industry

The sector's growth, driven by the transition to digital transactions and tech innovations, positions UAE as a leader in the...

Saudi pioneering solutions for water scarcity

The kingdom is forging partnerships with major corporations to revolutionize water technologies and achieve water self-sufficiency.

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Blockchain enhances efficiency, security in aviation

Despite facing challenges like regulatory compliance and interoperability, blockchain promises to revolutionize airline operations, offering improved passenger experiences.
  • Despite facing challenges like regulatory compliance and interoperability, blockchain promises to revolutionize airline operations, offering improved passenger experiences.
  • Blockchain technology is revolutionizing aviation with enhanced transparency, security, and operational efficiency, promising significant cost savings, says Aerobloc's founder.

Sustainably yours: Redefining travel for green future

The future of travel is expected to see greater use of renewable energy in transportation and advancements in technology, driving...
  • The tourism industry grapples with several environmental challenges, with notable concerns being the carbon emissions associated with air travel
  • Travelers can help reduce the negative impacts of tourism and support the long-term sustainability of the industry, by choosing sustainable tourism options

Dubai witnesses green transit revolution

Dubai is actively implementing climate adaptation strategies and technologies in transportation and infrastructure to mitigate climate change effects and enhance...
  • By the end of the decade, the emirate aims to have 10% of public buses run on hydrogen or electric powered, ramping up to 20% by 2035, 40% by 2040, 80% by 2045
  • According to Sandalkhan, of BCG, Dubai aims to set a global standard in eco-friendly transportation and RTA's 2050 Zero-Emissions plan reflects that ambition