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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.

Kuwait leads GCC market gains amid regional tensions

Despite challenges from regional tensions and fluctuating oil prices, sectors like F&B and pharma see notable increases, showcasing the diverse...

Consumer spending in KSA, UAE set to stay strong

Both Gulf countries reported an increase in non-essential spending from 2021 to 2022, with the expectation that this trend will...
  • Both Gulf countries reported an increase in non-essential spending from 2021 to 2022, with the expectation that this trend will continue into 2023, says an expert.
  • Online purchasing remains a popular channel for both UAE and Saudi shoppers, owing to the ease of purchase, cost savings, variety, and ease of delivery, a research points out

Financial innovation vital but checks needed for stability: Saudi minister

Mohammed Al-Jadaan also warned of risks if the central bank digital currency was introduced as it will require citizens to...
  • Saudi Arabia is likely to be among the world's fastest-growing economies in 2023, he said, citing the IMF global economic growth expectations for 2023.
  • He also emphasized the importance of financial institutions, such as banks, for countries in combating global shocks, while continuing to develop technology in this sector.

Duty-free markets at air, sea and land ports set to create jobs, help industries, benefit Saudi economy

The move aims at supporting Kingdom's infrastructure development, boosting logistics and providing unique business environment in transport sector, air traffic...
  • The move aims at supporting Kingdom's infrastructure development, strengthening logistics, and providing unique business environment in the transport sector, air traffic and ports
  • Free markets will increase Saudi exports, reinforcing itss efforts to diversify economy beyond oil, including tourism and travel, that will ultimately benefit the country's economy

Gulf markets, except Kuwait and Qatar, end higher

The Saudi market's general index, TASI, rose 1.19%, Dubai Financial Market 0.47%, Abu Dhabi Stock Market Vadax 15 index 0.133%...
  • Fifteen sectors rose on the Saudi Stock Exchange, led by banks at 2.37 percent, capital goods 1.64 percent, energy 0.93 percent.
  • In the Dubai Stock Exchange, the industry sector increased by 1.2 percent, followed by the real estate sector by 0.9 percent, the consumer goods sector by 0.44 percent,

Privacy remains key concern as facial recognition technology makes GCC travel sector secure, efficient

Face and iris recognition technology vary by country in the region, and expecting it to be implemented in many airports...
  • Facial recognition techniques vary in each country, and expecting it to be implemented in many large airports around the world in a short time is unrealistic, says an expert
  • People and organizations involved in the passenger moving process must strike a proper balance in terms of how they can begin implementing biometric technologies, he adds

Sustainable innovations to help Gulf industries reduce CO2 emissions, says report

Seven industries - advanced manufacturing services, retail, banking, energy, healthcare, consumer products, and automotive - are poised to be the...
  • Seven industries - advanced manufacturing services, retail, banking, energy, healthcare, consumer products, and automotive - are poised to be the key gainers, says a report
  • Banks can influence how companies and consumers act, invest, and address their environmental obligations through their product offerings, highlights the Bain & Company

Sponge cities an answer to Gulf water woes

China, Singapore and Hong Kong are planning to convert 80 percent of their cities into sponge areas by 2030 for...
  • A sponge city is a nature-based solution that uses the landscape to retain water at its source, slow down water flow and clean it throughout the process
  • According to specialized construction reports, China was one of the first countries to resort to this technology, followed by Singapore and Hong Kong

GCC investment in non-oil sectors grew in 2022

GCC countries witnessed the launch of massive economic and development projects in various sectors last year as part of their...
  • GCC countries witnessed the launch of massive economic and development projects in various sectors last year as part of their strategy to diversify their economies
  • The Kingdom's NEOM introduced the energy and water company Inwa, while the Saudi Ports Authority launched 12 private sector investment opportunities last year

Sustainability key for next-gen data center models

At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about...
  • At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about 3 percent of the world’s electricity usage
  • Data centers must operate as efficiently and sustainably as possible to eliminate any potential harm to the environment.

Dubai leads Gulf region in integrating metaverse into economy, society; eyes faster GDP growth, more jobs

Through Dubai Metaverse Strategy, the emirate looks to create 40,000 virtual jobs and add $4 billion to the economy over...
  • Dubai aims to attract more than 1,000 companies in the blockchain and metaverse fields, creating 40,000 virtual jobs, say experts
  • The metaverse will continue to evolve and expand over the next few years and become an increasingly important part of our daily lives, they add

Diversification helps GCC surge in global markets

Gulf economies are witnessing transformative growth and resilience with the UAE, Saudi Arabia, and Qatar leading the way in global...

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Are neobanks challenging traditional players in UAE?

While the digital revolution continues to unfold, the core of customer trust and regulatory frameworks stays unshaken, shaping the future...

81% UAE companies plan to use AI for cybersecurity

AI has emerged as a transformative force in various sectors, revolutionizing how businesses operate, make decisions, and secure their assets,...

Global trade at a crossroads as Gaza conflict intensifies

With Suez Canal's pivotal role in global commerce, any disruption may send shockwaves through markets worldwide, challenging the resilience of...

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Gulf markets tumble amid rising geopolitical concerns

As the Gaza conflict intensifies, GCC equity markets face significant downturns, with Qatar leading the losses, while Saudi Tadawul secures...
  • As the Gaza conflict intensifies, GCC equity markets face significant downturns, with Qatar leading the losses, while Saudi Tadawul secures year-to-date gains, says a report.
  • Qatar Stock Exchange plans to shorten settlement cycles to reduce risk as Kuwaiti benchmarks and Abu Dhabi's FTSE ADX index falter, while Dubai market's positive run halts.

Investors eye gold as safe haven amid Gaza tensions

The ongoing Gaza conflict has driven gold prices over $2,000/oz, highlighting the deep connection between geopolitical tensions and global financial...
  • The ongoing Gaza conflict has driven gold prices over $2,000/oz, highlighting the deep connection between geopolitical tensions and global financial market reactions.
  • The 'political reversal' scenario for the present Middle East developments involves potential involvement of Lebanon and Syria, while the 'oil crisis' scenario involves Iran.

Futuristic strategies elevate Dubai

Dubai's transformation from a humble fishing village to a global tourist powerhouse is nothing short of remarkable. Just decades ago,...
  • Dubai's evolution from a simple fishing village to a premier global tourist hub is credited to its innate advantages, deliberate investments, and cohesive destination development
  • The emirate exemplifies visionary leadership and adaptability, attracting millions yearly, and has shown resilience during crises like 2008 financial downturn and Covid pandemic