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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.

Inflation pinches GCC consumers’ pockets

The wave of inflation continues to put pressure on consumers not just in the United States, Europe, and the Arab...
  • Wholesale costs have been rising at a significantly across the region, and that this will continue to affect consumer prices in 2022.
  • Saudi Arabia contributed 0.5 percentage points to the overall GCC inflation figures in October 2021, the month for which the latest data is available.

Why and how high is inflation in the region?

The main reason for high inflation rates in the GCC is a rebound in prices in the sectors that were...
  • Kuwait was the costliest country in the Gulf to live in in 2021, with an annual inflation rate of around 4.1 percent
  • Only in Qatar does annual inflation exceed 5 percent, owing to a high increase in the cost of’ recreation and culture

Saudi job market to stay upbeat in 2022

During the past four years, the kingdom has created 555,000 new jobs as part of its plan to develop $1...
  • Slump in other job markets makes candidates open to moving the kingdom for employment.
  • Working on infrastructure projects underway in the kingdom will demonstrate future companies' capacity to work within different cultures and adapt to different cultures.

Innovations boost comfort level in hot Gulf cities

More than 400 cities are impacted by the urban heat island effect and increasing energy consumption that makes cities less...
  • Cooling cities will save energy, enhance road durability and improve human health, says Abu Dhabi-based FortyGuard
  • The urban heat island effect increases energy consumption in more than 400 cities, adds the clean-tech startup

Ukraine-Russia war may affect Gulf food supply

The ongoing conflict will directly impact the Gulf and Arab countries since they import vast food items from the two...
  • The Gulf states will be directly affected by the conflict as they depend on the two countries to meet a large proportion of their food requirements.
  • Experts, however, believe a severe food shortage crisis in the Gulf countries is unlikely to happen in the short term as they can absorb rising import costs

Art Dubai 2022 embraces digital art, NFTs

Art Dubai 2022, the art fair's largest edition and one of the few major international art events to take place,...
  • This year's event is unique as it will demonstrate that Dubai has become a big part of the discussion about modern art.
  • Dubai is a global crypto hub with a diverse group of collectors and entrepreneurs.

GCC turbulence mires Airbus rise

Airbus has been mired in controversy despite its best efforts to increase its customer base, across the world in general...
  • Qatar Airways and Airbus have tussled for months over the deterioration of aircraft paint and lightning protection
  • Kuwait plans to announce an agreement to restructure the national airline fleet of Airbus aircraft

UAE banks on Instant Payments to shake up sector

The UAE Instant Payments Platform (IPP) is set to go live in Q4 2022, with participation mandatory for all banks...
  • The UAE IPP is set to go live in Q4 2022, with participation mandatory for all banks and financial institutions
  • Being part of the IPP scheme will allow banks to leverage real-time payments to target new customer segments

GCC eyes floating hotels, eateries to buoy tourism

Floating restaurants and hotels could be a significant supporting player as the GCC region aspires to increase its footprint as...
  • The UAE is well known for its floating restaurants and five-star floating hotels
  • Qatar aims to construct 16 floating hotels for 2022 FIFA World Cup visitors

AI/ML boosts efficiency of GCC frontline workers

The Gulf region leads in adoption of artificial intelligence or machine learning to boost productivity, says Rami Darwish, CEO of...
  • The pandemic has highlighted the importance of making digital solutions available for field staff
  • Frontline and back-office must be on the same platform to facilitate information flow

Demand for lifestyle experiences in GCC has increased: SHG CEO

Dubai, UAE -- Sunset Hospitality Group (SHG) is more than just a collection of hotels, restaurants, and beach clubs. Renowned...

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Dubai’s realty builds on innovation and sustainability

Dubai's skyline epitomizes modern development, with its appeal bolstered by strong property management and developers capitalizing on increasing sales.

GCC asset management market $500bn by 2026

Strong capital inflows, a young and growing population and growing awareness about asset management will drive the sector's growth in...

GCC shows economic resilience as inflation hits globe

GCC countries consistently maintain inflation rates below the global average, with the Food and Beverages CPI subcategory showing moderate growth...

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AI startups set to rake in $10bn investments by 2026

Half of new cloud deployments will be integrated cloud data ecosystems by 2024, while edge AI will see 55% of...
  • Half of new cloud deployments will be integrated cloud data ecosystems by 2024, while edge AI will see 55% of all data analysis by deep neural networks by 2025, says a report
  • By 2024, data-centric AI will prioritize synthetic data, comprising 60% of AI data, while ChatGPT's popularity prompts 45% of executives to boost AI investments, adds Gartner

Saudi smart homes market builds on digitization drive

Saudi Arabia's smart homes market is growing due to government backing, tech advancements, and evolving consumer tastes. As the Kingdom...
  • The Kingdom's smart homes market is being driven by growing affluence of Saudi population, govt emphasis on digitization, and rising popularity of smart home devices.
  • With the support of govt initiatives and technological advancements, the sector is poised to play an important role in shaping the country's future urban landscape

GCC steps up to diversify Europe’s natural gas supply

Amid Russian-Ukrainian war, Europe aims to diversify its energy sources, with Gulf countries like Qatar, UAE, Oman, and Saudi Arabia...
  • Amid the Russian-Ukrainian war, Europe aims to diversify its energy sources, with Gulf countries like Qatar, UAE, Oman, and Saudi Arabia offering alternative natural gas options
  • These countries have signed several long-term agreements to supply Europe with liquefied natural gas, helping to diversify Europe's energy sources and enhance energy security