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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,...

6G, WiFi 6, edge computing key for metaverse

To expand and upgrade the metaverse, 6G, Wi-Fi 6, and edge computing capabilities will be critical. Just as the internet...
  • Metaverse participation is growing in the Middle East and GCC countries, says Martin Tarr, Chief ICT Officer of du
  • Demand for a blockchain-powered metaverse has increased and industries are already benefitting from the technology, he adds

Global Village gives wings to entrepreneurs, innovators

Dubai's multicultural family shopping and entertainment hub provides a unique platform to SMEs to test creative and innovative business concepts,...
  • Global Village assists entrepreneurs in exploring new prospects and forming collaborations, says Naveen Jain, Director of Business Development at the park
  • Dubai's multicultural family shopping and entertainment hub provides a unique platform to SMEs to test creative and innovative business concepts, he adds

Gulf boosts oil production amid global fuel crisis

Saudi oil giant Aramco has built new refineries in Jazan to boost its production capacity to 400,000 barrels a day...
  • Saudi oil giant Aramco has built new refineries in Jazan to boost its production capacity to 400,000 barrels a day
  • Kuwait Oil Corporation is enlarging the capacity of Al-Zour refinery to 615,000 barrels a day, making it the world's largest facility to do so

Beside oil, pilgrims help KSA economy boost revenues

The Haj season enhances Saudi Arabia’s political and religious prestige while contributing to its annual revenue of around $8 billion...
  • The Haj season enhances Saudi Arabia’s political and religious prestige while contributing to its annual revenue of around $8 billion and creating thousands of jobs
  • By 2030, the kingdom aims to raise pilgrim capacity to 30 million, eyes more than $150 billion in revenue and creation of over 100,000 new jobs

NFTs: Digital way to own art, music, videos

Everything is open-sourced, permission less and on-chain, Holaplex CEO Alex Kehaya tells TRENDS on the rising popularity of NFTs.
  • Holaplex’s Social NFT Network is a new platform for NFT enthusiasts
  • Kehaya believes that the NFT industry is seeing an adoption curve that is greater than that of the internet

Gulf airlines recoup losses, make profits after 2 years

The global aviation sector's losses, which rose to around S138 billion in 2020, dropped to nearly $42 billion in 2021....
  • Qatar Airways, a major GCC airline, reported profits of $1.54 billion during the fiscal year ending March 2022, compared to $4 billion loss in the previous year
  • The UAE airlines have recovered 92.9 percent of seat capacity compared to pre-pandemic levels, according to data released by OIG International

Free of travel curbs, GCC residents fly away for a break

In spite of high inflation, residents of the GCC countries are seeking newer destinations in Europe and beyond to travel...
  • The United Kingdom, the Maldives, and Europe are still the most popular destinations for the UAE and the GCC citizens
  • Travel industry experts feel that the global inflationary pressures are yet to affect travel demand

Inflation poses new challenges to Middle East, GCC

The global inflation wave -- affecting the US, EU and China and spreading to the Gulf countries -- is forcing...
  • The global inflation wave -- affecting the US, EU and China and spreading to the Gulf countries -- is forcing common people to look for alternatives away from the govt actions.
  • The unprecedented inflationary hikes is the result of Russia's four-month-long conflict with Ukraine that has hit global supply chains and increased shipping expenses.

Luxury brands in GCC look to metaverse for expansion

Virtual fashion and technologies will enable us to reduce our carbon footprints and the strain on the planet. Fashion firms...
  • Despite the benefits of the metaverse world to the fashion industry, the technology still is in its early stages
  • Brands should be cautious of many scammers in this world as there are numerous grabbers and a lot of fraud going on

Services assist Saudi economy recover, diversify fast

The Kingdom's service sector is expected to grow rapidly once the major Vision 2030 tourism and entertainment projects - Qiddiya,...
  • The sector is expected to grow rapidly once the major tourism and entertainment projects are completed
  • The Saudi service sector is one of the most labor-intensive industries, so its development helps tide over the unemployment

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,...

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Latest News

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...

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...

Social aspects of ESG put some firms in a tight spot

While companies are increasing their investments in social initiatives, many grapple with effective execution and evaluation, highlights a new study...

Most Read

Innovation steers Middle East through tourism swings

Facing tourism seasonality challenges, the region diversifies offerings, enhances infrastructure, and collaborates, for year-round success despite temperature fluctuations.
  • The Middle East combats tourism seasonality and temperature challenges with innovative strategies for consistent year-round appeal
  • Using diversified tourism, improved infrastructure, and collaboration, destinations can maximize off-peak season benefits in the region

Urban developments transform Saudi realty

The exhibition saw the launch of massive real estate ventures, including integrated, modern cities, with a combined investment of around...
  • The recent "Cityscape Global" exhibition in Riyadh showcased the vast urban development initiatives, signaling a bright future for the Kingdom's urban and housing sectors
  • The exhibition highlighted Saudi Arabia's $17 billion Diriyah Gate project and other urban developments, with investments totaling approximately $18.3 billion

Cash transactions dominate Dubai’s property market

This trend, driven by affluent investors and global rate hikes, underscores the city's robust economic allure and the confidence investors...
  • This trend, driven by affluent investors and global rate hikes, underscores the city's robust economic allure and the confidence investors place in its property market
  • Dubai's elite neighborhoods see a 49% annual growth in prime values, with current cash purchase rates at historic highs, surpassing even pre-2008-09 levels