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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.

Saudi Arabia leads GCC in project awards this year

The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value,...

Post Covid, shopping centers in UAE adopt experiential community approach to attract customers

Through the new concept, retailers and shopping centers in the Gulf country are giving a customer a whole experience, in...
  • Through the new concept, retailers and shopping centers in the Gulf country are giving a customer a whole experience, in some cases both in-store and online
  • The experiential community strategy involves getting businesses via flexibility, where brands can stay for a period and decide whether to remain permanently.

New technologies bolster GCC-Asia trade relations

Beyond oil and gas, Gulf companies have made some strategic investments in sectors with strong potential for growth, including fintech,...
  • GCC and Asian countries are benefitting from technological advancements, which has potential to make cross-border trade more efficient, inclusive and equitable for SMBs.
  • Gulf countries, led by the UAE and Saudi Arabia, have been investing in Asian technology companies and incentivizing them to launch operations in the region, says an expert.

Crypto betting sites on sports gain popularity as game prediction market grows across MENA

Crypto betting in sports has become a booming market due to the increasing number of sports fans and their desire...
  • Crypto betting in sports has become a booming market due to the increasing number of sports fans and their desire to wager on athletes and tournaments
  • There has been a rise in the number of betting sites accepting crypto and new blockchain-based betting sites

GCC chemical companies lesser exposed to market risks than their European counterparts

Chemical companies in the Gulf region are likely to cope relatively well with the current stresses of rising rates and...
  • Chemical companies in the Gulf region are likely to cope relatively well with the current stresses of rising rates and higher energy costs, says a recent report.
  • Market conditions for commodity chemical companies have improved notably over the past 15-18 months on the back of rising oil prices, it adds

Middle East region now has a new address for business centers: Downtown

Close to 200 years after the business hub of New York City was named as downtown, the word has entered...
  • Saudi Crown Prince Mohammed bin Salman announced the establishment of Saudi Downtown Company
  • The Downtown Jeddah project will cover 5 million square meters and house more than 58 thousand people, likely to be completed in 2029

Customers feel better with ‘Buy Now, Pay Later’ plans

Buy Now, Pay Later services provide customers the functionality of credit cards-- easy payments with no cash. But BNPL usually...
  • BNPL providers pay retailers upfront and lend money to customers while taking on all of the program's administrative costs and credit risk. 
  • The appeal of BNPL also lies in the fact that vast amounts of consumer data can be used by retailers to enhance customer loyalty by offering more targeted products.

Sustainability key focus of GCC automotive industry

Current trends in the automotive sector such as zero-emission vehicles and carbon-neutral manufacturing demonstrate the growing importance of sustainability, says...
  • BMW Group is placing sustainability at the center of their strategic direction across all divisions, says a key BMW Group Middle East official
  • By 2030, BMW will release around 10 million fully electric vehicles onto the roads, adds Hamid Haqparwar, Managing Director at BMW Group Middle East

Gulf citizens wealthier as oil boom raises revenue

Qatar ranks first in the Arab world and the Gulf region with an annual per capita share of around $183,000,...
  • Bahrain ranked fourth in the Gulf and the Arab world, with an average per capita wealth of $98,000.
  • Oman was ranked sixth in the Arab world and the Gulf, with an annual GDP per capita of about $39,433.

Startups adopt new strategy to survive post pandemic

Post pandemic, startups, SMEs, and entrepreneurs must adopt a new mentality to scale their enterprises and survive, says Awfa Mustafa,...
  • The classic challenges that startups face revolved around getting funds, managing cash flow and acquiring the necessary skills and talents.
  • During and after the pandemic everyone went online all of a sudden and no one was prepared for this shift, even though many startups thought they would benefit from it.

Low carbon demand spurs green sukuk growth

With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent...
  • With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent increase over 2020.
  • Sukuks cannot be used to finance illegal activities and are designed to avoid high levels of leverage and speculation, a new research highlights

Consumer products sector grows amid rising prices

The consumer products sector enjoys tremendous growth, with retail sales value for the industry globally rising by close to 10...

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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,...

Middle East conflict may disrupt global trade routes

Recent developments spark concerns that the conflict, which is spreading across the region, presents a long-term threat to global energy...

Huge investments propel GCC project sector growth

The GCC project sector, one of the world's most dynamic, has recorded a significant surge in project awards, reaching $41.8...

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Qatar eyes North Field to boost liquefied gas output

Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial...
  • Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial gas reservoir with 50.97trn cubic meters
  • The project will raise global LNG by 48 million tons annually, supporting a GDP per capita over $84,000 from $132bn gas exports while producing 40% of new LNG by 2029

Security risks hit gas flow amidst Israel-Hamas row

Israeli decision to suspend gas supply from Tamar field due to security concerns affects energy and gas sector, resulting in...
  • Israeli decision to suspend gas supply from Tamar field due to security concerns affects energy and gas sector, resulting in weekly losses of hundreds of millions of dollars
  • Chevron shifts gas exports as Israeli government declares market emergency, while local supply maintained with power plants ready with alternative fuels for energy stability

Gulf Common Market aims for economic unity by 2025

The bloc's initiative aims for a customs union by 2024, fostering competition and ensuring the smooth flow of goods between...
  • The bloc's initiative aims for a customs union by 2024, fostering competition and ensuring the smooth flow of goods between Gulf countries through joint economic action
  • Additionally, the Gulf Common Market will also contribute to regional political stability, bolstering military cooperation and enhance tourism and investments in the region