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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.

Oil sees fluctuating prices, shifting output trends

The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.

Spiralling inflation spurs GCC gold demand

Gold consumption in the GCC region reached 47 tons in the first quarter of 2022, up 18 percent from the...
  • Gold consumption in the GCC region reached 47 tons in Q1 2022, up 18 percent from the prior year
  • UAE consumption reached 12.50 tons in Q1 2022, an increase of 50 percent from the previous year

GCC businesses need to diversify board members

The percentage of women on boards in corporate houses across the GCC countries is low, Christiane Schloderer, INSEAD Alumni Association's...
  • Boards that lack women representation suffer reputational and possibly regulatory issues, says Christiane Schloderer, INSEAD Alumni Association's senior member
  • Remuneration and placement committees, headhunters, and chairperson play an important role in appointing women in the key positions, she says

GCC ready to deal with global inflation, sectoral shifts

However, Hamade believes that the markets in the Gulf region are better prepared to navigate the economic headwinds given the...
  • Local production, technology, and the improving quality of goods and services alleviate the pressure of exports, says Amanat Holding's CEO Dr Mohamed Hamade
  • Startups have been contributing to driving economic self-sufficiency aided by homegrown production and facilitation to reduce the burden of imports, he adds

Employment reforms add to women prosperity in KSA

Saudi women have reached unprecedented heights in work and social life, Sarah Al-Tamimi, vice chair of National Committee to Combat...
  • "Many sectors such as retail, construction, mining, work in tanneries, electricity production, car repair shops that had been closed to women are now hiring them."
  • "Saudi Arabia has introduced legislation guaranteeing equal pay for men and women and initiatives to support working women."

Workplace diversity is both cultural & business issue

One of the biggest challenges for women in the GCC is the lack of possibilities in the workplace, Novonda founder...
  • Companies must make sure to have a diversity-friendly personnel policy and HR practices, says Novonda founder Jean-Pierre Calvez
  • Digitalization and flexible working strategies have been crucial for the workforce, he adds

Emirate attracts expats and HNWIs alike

World-class infrastructure, successful pandemic response and visa and labor reforms have made the city an ideal destination for expats. Also,...
  • The city has established itself as the region's business hub, which creates abundant job opportunities for expats as only one in 23 workers in Dubai is an Emirati national.
  • Dubai had 7.28 million visitors last year despite the global pandemic, making it an ideal place to live, work, and visit.

Dubai’s hi-tech vision dazzles investors

Dubai is developing an environment that encourages firms from all industries to innovate. Already, the UAE is home to one-third...
  • Dubai is developing an environment that encourages firms from all industries to innovate
  • Dubai has been able to leverage its strengths as a world-class city to attract global blockchain entrepreneurs

Dubai: Monaco of the region with a difference

The final quarter of 2021 provided a major boost to Dubai hotel results, with properties surpassing even 2019 figures across...
  • Overall, UAE hotels raised $408 million in revenue between December 15 and the end of January 2022, with Expo and the second World's Coolest Winter campaign as key catalysts.
  • Dubai has beaten popular holiday destinations such as London, Bali, and Rome to become the most popular destination for 2022.

Creative sector woos global investors to Gulf region

The regional economies in the creative sector are growing at a faster rate than inflation, says Michael Garin, General Director...
  • The regional economies in the creative sector are growing at a faster rate than inflation, says Michael Garin, General Director of Abu Dhabi Creative Authority
  • However, profound disruption of supply chains and the availability of critical materials in a timely manner remain a crucial challenge for the Gulf countries

‘Workplaces must prioritize mental health’

In many industries, working from home is the way of the future and a better working and mental lifestyle, Quartz...
  • People tense or stressed at work are more than three times likely to plan to look for a new job
  • In contrast, employees who feel supported are more likely to stay, lowering turnover costs

Oil sees fluctuating prices, shifting output trends

The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.

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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...

Sports shift economic goalposts for Middle East

In a bid to diversify their economies, Middle Eastern nations are turning to the sports industry, marked by significant investments...

AI and LLMs poised to transform global job landscape

About 23% of global jobs will transform within five years due to LLMs and AI advancements, according to the World...

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Project reuse helps UAE boost sustainability drive

Amid UAE's urban expansion, there's a wealth of structures across the country ripe for revitalization, significantly offsetting the environmental impact...
  • Amid UAE's urban expansion, there's a wealth of structures across the country ripe for revitalization, significantly offsetting the environmental impact of new developments
  • With projects like Expo City Dubai is leading the way, the nation's architectural landscape is evolving towards a greener future, says Devmark CEO Sean McCauley

Gulf banks show resilient growth despite US Fed hikes

Major banks in the UAE and Saudi Arabia, including the Commercial Bank of Dubai and First Abu Dhabi Bank, reported...
  • Major banks in the UAE and Saudi Arabia, including the Commercial Bank of Dubai and First Abu Dhabi Bank, reported record profits in the first half of 2023, says a report
  • In H1 2023, Saudi Arabia exhibited outstanding credit facility performance as Al Rajhi Bank reported a net income of US$2.2m, while Riyad Bank achieved US$1bn after zakat

Deals with India add pace to Saudi diversification

Riyadh and New Delhi set a new benchmark in global trade and cooperation with 53 deals across diverse sectors and...
  • Riyadh and New Delhi set a new benchmark in global trade and cooperation with 53 deals across diverse sectors and plans for an economic corridor from India to Europe
  • Trade between Saudi Arabia and India, valued at US$52 billion, and India's rising economic prominence position makes New Delhi a key strategic partner for the Kingdom