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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.

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...

Oil, stimulus packages revive Arab world’s growth

The growth rate of Arab economies is expected to increase to around five percent in 2022 on the back of...
  • The GCC countries' growth rate is expected to hit 5.8 percent in 2022, up from 3.1 percent in 2021
  • In 2023, the Arab countries as a group are predicted to develop at a rate of around four percent

Inflation, geopolitics take toll on GCC businesses

Inflation spawns numerous hurdles as GCC business leaders struggle to find a way to surmount the difficulties aggravated by geopolitical...
  • Abudawood remarked that the ongoing supply chain issues would definitely impact expenses and consumer pricing
  • According to IMF Middle East and Central Asia Director Jihad Azour inflation averaged 14.8 percent in 2021 and is expected to remain at 13.9 percent this year

Beauty, fashion brands eye NFT advantage

There is enormous potential for NFTs in the fashion and beauty business, says Louis Chen, EVP and Chief Strategy Officer...
  • Brands are using NFTs and blockchain technology to attract, verify, and engage consumers globally
  • GCC brands should take advantage of the trend to engage with customers in new, innovative ways

TINDER SWINDLER: When women fight back

Four years after being scammed by a conman, and three months after Netflix made the 'most-watched documentary' out of their...
  • The docu-drama highlights the plight of three women who were scammed by a conman posing as a billionaire
  • More than 60 percent of victims of romance scams are women, according to the British police reporting center Action Fraud

TOP CEO to discuss post-Covid GCC business scene

CEOs and market veterans from the region will review how the pandemic, which accelerated digital transformation, has given a competitive...
  • CEOs and market veterans from the region will review how the pandemic, which accelerated digital transformation, has given a competitive edge to innovative businesses.
  • The conference’s mission is to facilitate connections, generate growth opportunities, recognize the GCC's most prominent executives and allow participants to exchange ideas freely.

Eid holidays boost Gulf tourism as COVID curbs ease

From overseas to the domestic circuit, the tourism industry in the Gulf Cooperation Council is witnessing a welcome resurgence, especially...
  • Gulf citizens are looking to spend Eid al-Fitr abroad after being compelled to stay home for the past two years
  • This year’s Eid al-Fitr holiday witnessed high occupancy in the UAE hotel sector, driven by strong domestic tourism demand

Should you invest in Metaverse real estate?

The economic opportunities and jobs created by the Metaverse will revolutionize how we work, socialize, play, and earn, says Sebastien...
  • Revenues from the Metaverse are estimated to grow to $800 billion in 2024
  • Metaverse plot prices rose from $100 in January 2021 to $15,000 in December 2021

GCC FMCG market faces headwinds

Certain FMCG companies benefited from the pandemic since people spent more time at home baking and spending time together. As...
  • Rising worldwide raw material and transportation costs have put pressure on FMCG profits
  • The current global issues caused by rising oil prices is also impacting consumers and prices

Abu Dhabi to trade carbon credits like assets

Carbon credits can be traded on legal carbon markets, such as the Emissions Trading System of the European Union. They...
  • Expected to launch in Q3 2022, ACX will be established as a recognized investment exchange regulated by ADGM
  • The GCC's broader plan to achieve net-zero was one of the main factors in establishing a carbon market in Abu Dhabi

BNPL gains currency in the UAE

It also seems to be extremely helpful for customers who want to pay for a purchase in installments or make...
  • BNPL payments in the UAE are expected to grow 89.4% on an annual basis to reach $1.82 billion in 2022
  • BNPL is not just for Gen Y and millennials; it is expected to see adoption by elderly individuals as well

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...

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Global ambitions fuel Qatar’s investment momentum

Qatar Investment Authority, with a diversified $450 billion portfolio across 60 countries, is adeptly poised to tackle global economic hurdles...

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...

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...

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Healthcare, F&B and telecom companies spoil GCC stockmarkets’ three-month party

GCC equity markets saw their first decline in three months during August, influenced by global market performance and hawkish Fed...
  • GCC equity markets saw their first decline in three months during August, influenced by global market performance and hawkish Fed policies, says a report
  • Despite some sectors showing gains, the overall trend was downward, with Qatar leading the decline and Dubai emerging as the best performing market

GCC real estate transactions surge on demand increase

GCC real estate hits $90.7 billion in the first half of 2023, a 9.9% year-on-year increase, with Dubai leading the...
  • GCC real estate hits $90.7 billion in the first half of 2023, a 9.9% year-on-year increase, with Dubai leading the market, contributing 54 percent to the total value
  • In the first half of 2023, Saudi Arabia experiences a 32% drop in real estate transactions, as Taiba Investments enjoys a 63.44 percent annual surge in profits

Single window offers fresh air to Qatar enterprises

This enhanced suite of services simplify registration for investors, enabling them to complete company setup steps without visiting multiple ministries...
  • This enhanced suite of services simplify registration for investors, enabling them to complete company setup steps without visiting multiple ministries or their websites
  • Before the new system, licensing took 6-8 weeks. Now, the enhanced process bolsters global confidence in Qatar's business landscape, drawing international inquiries