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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.

Global HQs help Saudi youth boost skills, get jobs

The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the...

Europe energy market: Will Qatar replace Russia?

The United States has asked Qatar to supply gas to Europe if Russian supplies were disrupted due to Moscow's military...
  • Qatar gas exports account for about 106 billion cubic meters, with 80 percent going to Asia and 20 percent to Europe
  • Qatar could cover around 13 percent of Russian gas imports to the European Union and the United Kingdom

Increase in demand helps GCC real estate recover

From the UAE to Saudi Arabia, Qatar to Kuwait, the GCC countries have posted robust growth in the real estate...
  • Dubai saw the most significant recovery in the UAE real estate market, with the total value of residential real estate transactions increasing to $35bn by 2021
  • According to data compiled by the Saudi newspaper Al-Watan, the real estate sector had the most significant value of contracts in Q4 2021

Greece’s Ionian Islands eye UAE to woo tourists

Rodi Kratsa-Tsagaropoulou, Mayor of Greece's Ionian Islands, explains how an enhanced cultural and tourism ties with UAE will be mutually...
  • The Ionian Islands and the United Arab Emirates are developing cultural and tourism ties
  • The two have established direct flights from Abu Dhabi and Dubai on Etihad and Fly Dubai

Policy eyed as Mideast bears brunt of climate change

Disasters caused by climate change since 2000 have killed approximately 2,600 people, affected seven million others, and caused $2 billion...
  • Temperatures in the region have risen by 1.5°C over the last three decades, twice the global increase of 0.7°C
  • According to the IMF, disasters caused by climate change have killed approximately 2,600 people since 2000

Retail sales rise on back of online platforms

Grocery and fashion are the most significant in-demand categories during the holy month. The two sectors are expected to see...
  • Many retailers, especially supermarkets and online brands, have made the most noise during Ramadan
  • Smaller businesses can use unique offer opportunities to entice new customers or reward current ones

Brands track trends, behaviors of consumers in Gulf region

Brands have realised the importance of mobile advertising and smartphones and are utilizing them to capture the attention of target...
  • Brands need to decide how much they should invest in which medium to make their voices heard by their potential customers
  • 66 percent consumers generally do Ramadan shopping with their smartphones directly via mobile ads, researches suggest

UAE restores Ramadan goodwill with tough fight against COVID-19

While iftar tents are reinstated this year for government and licensed entities, authorities have advised that the group iftars and...
  • Dubai marks the Holy Month of Ramadan in style, with lighting designs displayed throughout the city
  • One of the most prominent events in Dubai this year is the return of Ramadan tents

Covid, digital transformation push GCC cloud growth

Businesses in the region are increasingly adopting cloud to protect their data, apps and infrastructure from fraudulent activities while supporting...
  • Cloud computing can generate $202 billion from various sectors in Saudi Arabia by 2030
  • Rapid cloud adoption can generate up to $600 bn in recurring value in the MENA region

AI plays crucial role in GCC’s economic progress

Artificial Intelligence, wired into the economic plans of many GCC countries, is likely to contribute 12.4 percent to Saudi GDP...
  • The Middle East is expected to accrue US$320 billion of the total global benefits of AI in 2030
  • AI is expected to contribute over US$135.2 billion in 2030 to the Saudi economy

More checks needed as crypto scams hit all-time high

Blockchain expert Kim Grauer offers insights into why people fall prey to scammers, how they can protect their crypto assets...
  • In 2021, cryptocurrency-based crime reached an all-time high, with criminal addresses receiving $14 billion.
  • By the end of 2021, criminals had accumulated $11 billion in crypto from known sources, compared to $3 billion in 2020.

Global HQs help Saudi youth boost skills, get jobs

The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the...

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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...

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 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...

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Strengthening Middle East-China ties bolster trade

In recent years, the Middle East and China have fortified economic ties, with the former supplying half of latter's oil...
  • In recent years, the Middle East and China have fortified economic ties, with the former supplying half of latter's oil and sealing a landmark 27-year LNG deal with Qatar
  • After Chinese President Xi's 2022 Saudi visit, China-GCC FTA talks accelerated, financial ties deepened and the BRI synced with Middle East's digital and infra ambitions

Expansion may offer limited economic boost to BRICS

The anticipated inclusion of six nations into BRICS, including Saudi Arabia and UAE, is expected to ease tensions among them,...
  • The anticipated inclusion of six nations into BRICS, including Saudi Arabia and UAE, is expected to ease tensions among them, and foster increased bilateral collaboration
  • After expansion, the bloc will represent 30% of global GDP, 45% of the population, control 80% of oil production, and account for 16% of global trade by next year

Smart factories transform manufacturing across GCC

Saudi Arabia and UAE lead the region in rapidly embracing the Fourth Industrial Revolution, shifting from traditional factories to smart...
  • Saudi Arabia and UAE lead the region in rapidly embracing the Fourth Industrial Revolution, shifting from traditional factories to smart ones.
  • Bahrain's commitment to transform 300 factories by 2026 solidifies the region's dedication to technological advancements in manufacturing.