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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...

UAE, KSA lead as tech and energy drive IPOs in GCC

The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both...

Gulf countries get more adaptable to open banking

The GCC region is now witnessing an increase in adoption of open banking system and implementation plans are being put...
  • The GCC region is now witnessing an increase in adoption of open banking system and implementation plans are being put in place as regulators set new market policies
  • Tarabut Gateway -- the first and largest open banking platform in MENA and a licensed AIS and PIS provider -- obtained the first open banking license ever issued in the UAE

Demand boost, price rise lift profits of Gulf oil firms

GCC countries have witnessed financial surpluses in their budgets for the first time in a long time on the back...
  • GCC countries have witnessed financial surpluses in their budgets for the first time in a long time on the back of increase in oil prices, strengthening their credit ratings
  • Saudi Arabia, the largest OPEC producer, is among the first to benefit from the surge in oil prices and an increased demand, with a $21 billion surplus in the first quarter

Policies, infra make Dubai hub for talent, innovation

For decades, the emirate has been a global player with a plethora of capital, talent, corporate tax incentives and ground-breaking...
  • For decades, the emirate has been a global player with a plethora of capital, talent, zero corporate tax and ground-breaking technologies, says the latest BCG report
  • Dubai's unfettered access to global consumer markets makes business activities such as innovation, hospitality, logistics and tourism easier to perform than anywhere else

Metaverse unrolls new prospects, risks for insurance

Many risks companies face in the real world exist in the metaverse, albeit with a digital twist, requiring insurance players...
  • Many risks companies face in the real world exist in the metaverse, albeit with a digital twist, requiring insurance players to come up with a new set of liability policies
  • Many metaverse projects feature content creation that may implicate IPR, thereby triggering the same coverages or, potentially, commercial general liability coverage

Macroeconomic issues may hit logistics across GCC

The Covid-19 pandemic, regional lockdowns, and Ukraine war have been disrupting trading lane in air and maritime freight, affecting the...
  • The Covid-19 pandemic, regional lockdowns, and Ukraine war have been disrupting trading lane in air and maritime freight, affecting the global supply chain, say experts
  • Saudi Arabia and the UAE are both striving to reduce operational costs and facilitate faster deliveries by adopting smart port technologies and integrating port value chain

Challenger banks struggle for market share in GCC

Net sentiment for traditional banks is higher than those for challenger banks as the former have a long history in...
  • Net sentiment for traditional banks is higher than those of challenger banks as the former have a long history in the market and have proved to be trustworthy and reliable.
  • Today consumers expect speed, efficiency and reliability from banks. The digital revolution also creates an opportunity to increase financial inclusion in the Gulf region

Retaining customers rattles retailers as sales drop

From optimizing the purchasing ecosystem to driving personalization and developing schemes that help consumers with finance management, retailers must work...
  • From optimizing the purchasing ecosystem to driving personalization and developing schemes that help consumers with finance management, retailers must work harder
  • During the pandemic, nearly 40 percent switched brands or retailers, and more than 80 percent developed new shopping habits, says a recent McKinsey study

COVID-19 helps GCC grow its appetite for digital banking

Banks in the Gulf region were already on the path towards digitization, but the pandemic became the catalyst for accelerated...
  • More than 80% consumers now prefer to do their banking online rather than visit a physical branch, while around a third feel their bank provides weak online banking services
  • As the pandemic recedes, banks may continue with enhanced customer engagement online, which will pave way for physical branches to deliver more complex and high-value activities

GCC ripe for digital banking growth

A high penetration of digital technologies and a tech-savvy younger consumer base among the factors that make the region a...
  • Internet usage in the GCC is relatively high, with 82 percent penetration in Qatar, 78 percent in the UAE, 62 percent in Oman, 55 percent in Bahrain and 41 percent in Saudi.
  • The market size of the e-commerce industry in the region was expected to grow from $24 billion in 2020 to $50 billion by 2025.

GCC investors turn to realty to hedge against inflation

The real estate sector in the Gulf region is set to accelerate in the second half of the year as...
  • The real estate sector in the region is set to accelerate in the second half of the year as regulations effectively mitigate the market cycle swings, especially during inflation
  • Local real estate prices will be less high for foreign investors than other global markets as local inflation rates are significantly lower than the rest of the world, say experts

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...

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Infra investments crucial to Dubai’s growth and global allure

Dubai's iconic skyline and architectural marvels have garnered global attention, offering stunning views for visitors and residents alike. This allure...

Vision 2040: Saudi Arabia’s new economic blueprint

Saudi Crown Prince Mohammed bin Salman recently unveiled glimpses of the audacious Vision 2040 that will focus on green hydrogen,...

World Bank expects Gulf economies to grow by 1 percent in 2023

Dubai, UAE -- The economies of Gulf Cooperation Council (GCC) countries are expected to grow by 1 percent in 2023,...

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Rise in EVs drives Middle East toward greener future

A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth...
  • A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth TRENDS report reveals.
  • With global EV sales hitting significant milestones and the UAE setting ambitious green targets, the future of transportation is looking increasingly electric

Rise in EVs drives Middle East toward greener future

A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth...
  • A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth TRENDS report reveals.
  • With global EV sales hitting significant milestones and the UAE setting ambitious green targets, the future of transportation is looking increasingly electric

Global economic concerns hit GCC equity performance

Influenced by global inflation concerns and high rates, Gulf markets faced second consecutive monthly dip in September. Only Dubai and...
  • Gulf equity markets experienced a downturn for the second consecutive month in September 2023, reflecting global economic concerns
  • While major indices like the MSCI World Index and the S&P 500 saw declines, only Dubai and Qatari markets managed to post gains