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Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

GCC telecom firms turn to Europe, Asia for expansion

Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home...

Saudi Arabia sees $6.4bn tech investment at LEAP

The fresh investments are said to be in line with Vision 2030, which aims to diversify the economy of Saudi...
  • Investment deals totaling more than $6.4 billion were announced at LEAP 2022 in Riyadh
  • Saudi Aramco Ventures launched a $1-billion investment fund called Prosperity 7 to help revolutionary startups

Fun sector: Leisure puts UAE economy at ease

Estimations by the Middle East and North Africa Attraction and Leisure Council (MENALAC) put the number of leisure centers in...
  • The leisure and entertainment sector in the UAE is considered to be one of the most dynamic markets in MENA
  • Around 400 leisure centers operate in the UAE, employing more than15,000 workers

New initiatives help Saudi Arabia shine on tourism map

Notable achievements of the kingdom include establishment of Global Center for Tourism Sustainability and its selection to host World Travel...
  • Local overnight trips surpassed 60 million in 2021, adding an estimated spending worth $21.3 billion to the country's economy
  • Promotion of tourism spots locally and globally, after being hampered by the pandemic, may help Saudi Arabia woo 50 million tourists this year

Trade, investments bring Saudi Arabia, Iraq closer

Saudi Arabia and Iraq are looking to build a wide-ranging economic partnership as they sign electrical interconnection deal on the...
  • The Saudi-Iraqi Joint Forum seeks to begin a new chapter in the history of comprehensive cooperation between the two countries at all levels
  • The volume of trade exchange between the two countries during 2016-2021 stood at SAR 20 billion

New business deals bring KSA, South Korea closer

The two countries are working on a broader strategy to strengthen collaboration in health care, science, technology, hydrogen, public health,...
  • The visit was part of a broader strategy to strengthen bilateral collaboration in health care, science, technology, hydrogen, public health, and artificial intelligence
  • The two countries signed 15 agreements totaling $8.2bn in 2019

Fixes and flaws of new UAE labor laws

The United Arab Emirates has set itself on a new course to completely overhaul the labor laws in order to...
  • The Covid-19 pandemic has led to rapid changes in working patterns
  • The UAE's new labor law may provide it a competitive advantage by giving expat workers better rights

Online learning booms in GCC during pandemic

"While online learning is a supplement to a broader educational experience, course enrollment statistics strongly imply that it is a...
  • Online education is a valuable addition to a greater educational experience for many, especially busy professionals
  • The number of educational providers will expand, as will student adoption of more flexible options

Saudi, UAE and Egypt gaming to reach $3.14bn

A young population, increased user spending, robust govt backing for games and e-sports and new players are poised to push...
  • Around half of the Middle East's population is reported to be under the age of 25, and electronic games constitute an integral component of their entertainment.
  • Saudi Arabia, the UAE, and Egypt attained a total gaming revenue of US$1.76 billion in 2021.

Saudi Arabia seeks to be regional mining force

Saudi authorities seek to promote mining investments and increase its contribution to the GDP to meet the Saudi Vision 2030...
  • Saudi Arabia aims to achieve 75 percent localization in the energy sector by 2030
  • Saudi mineral wealth value is more than $1.3 trillion, including phosphate and bauxite minerals

Despite culture, MENA coffee business still nascent

The region’s coffee market growing rapidly creates new business opportunities, says Ali Al-Ebrahim, founder and CEO of COFE.
  • Coffee consumption in MENA has experienced a massive shift, with sales growing at twice the global average
  • Coffee has been at the heart of Middle Eastern culture for centuries

Qatar to set up Centre for Fourth Industrial Revolution

Davos, Switzerland -- The war in Ukraine, tensions in the Middle East, monetary policy in 2024, jobs, equitable economic growth,...

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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...

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...

Business travel in MEA likely to bounce back by 2024

Business travel spending hit $23bn in 2022, nearing pre-pandemic levels as post-pandemic business trips get longer, supported by UAE's digital...

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ESG shapes MENA region’s urban regeneration strategy

ESG principles offer a solution framework as the region faces urbanization challenges, including unplanned settlements in cities like Cairo and...
  • ESG principles offer a solution framework as the region faces urbanization challenges, including unplanned settlements in cities like Cairo and Makkah, says a report
  • Embracing the L-I-F-E (learn, integrate, fix and earn) approach for urban renewal offers GCC sustainability, resilience, growth, social unity, and global acclaim

UAE takes lead in advancing global climate action

Through the COP28 Summit, the UAE aims to facilitate discussions, build consensus, and catalyze transformative actions to address the escalating...
  • Through the COP28 Summit, the UAE aims to facilitate discussions, build consensus, and catalyze transformative actions to address the escalating global climate crisis
  • The world sees more frequent and direct impacts of the crisis, exemplified by record-breaking heatwaves wreaking havoc on ecosystems and communities, says an expert

GCC deals with rice shortage amid Russia-Ukraine war

The Russian-Ukrainian war heightens global food crisis fears as India, followed by the UAE and Russia, sequentially impose rice export...
  • The Russian-Ukrainian war heightens global food crisis fears as India, followed by the UAE and Russia, sequentially impose rice export bans, disrupting global supply chains
  • Saudi Arabia experiences an increase in rice consumption, overtaking wheat, while experts emphasize the potential for local rice cultivation in the country.