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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.

PIF’s diverse investments transform Saudi economy

From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future...

Saudi Arabia, UAE eye strong growth amidst challenges

London-based think-tank Cebr predicts the economic future of countries across the world and the outlook remains rosy for the Gulf...
  • Saudi Arabia will jump from t19th to 17th in the World Economic League Table by 2021
  • The UAE is expected to move up in the table from 34th in 2021 to 33rd in 2036

Ecommerce changes GCC buyers, sellers forever

As ecommerce expands, companies are becoming more aware of the region's shifting consumer behavior and needs, say experts.
  • Retailers in the region are becoming more aware of the necessity to create ‘brand.com’ sites
  • AR and AI will become more commonly used to improve the consumer experience

2021: UAE enters Mars orbit on first try

On February 9, the UAE announced that its exploratory probe, ‘Hope’ had successfully entered Mars' orbit, marking it the first...
  • On February 9, the UAE announced that its exploratory probe, ‘Hope’ had successfully entered Mars' orbit, marking it the first Arab expedition to the Red Planet
  • The UAE became the fifth country to launch a Mars mission successfully and the third to enter Mars orbit on the first try

Saudi economy set to be buoyant in 2022

The country is aiming for a budget surplus for the first time in eight years amidst increasing oil prices and...
  • Jadwa Investment Company and Al-Rajhi Capital expects value-added tax unlikely to change.
  • Beltone expects that inflation would remain around 2 percent, affected by global inflationary pressures.

Breathable sand could disrupt UAE agri-sector

The technology could help the UAE grow more crops within its boundaries, ensuring food security, says Dake Rechsand CEO and...
  • The UAE is 80 percent desert, with less than 1 percent agricultural land
  • Systemic, climatic, and geographic concerns threaten food and water security in the country

Saudi festivals celebrate cultural blooming

As Saudi Arabia opens up on the culture front, tourism gets a leg-up in a boost for Vision 2030.
  • Saudi Arabia is witnessing a huge tourist boom, reflecting the government's interest in the sector
  • STA collaborates with the Saudi tourist sector to develop one million jobs and 100 million annual visits by 2030

Saudi Arabia to dominate regional ecommerce

Factors ranging from internet penetration to smartphone ownership to bank-account holdings, and more are coming together to make Saudi Arabia...
  • The GCC will have the fastest ecommerce growth in the MEASA region between 2019 and 2022
  • Ecommerce will help Saudi’s economic growth, with the domestic online market expected to reach $2 billion by 2025

Saudi Arabia looks to lead solar-cell industry

Demand for PV technology will increase in 2022, says Fahad Bin Omairah, CEO of Bin Omairah Holding Company.
  • Masdar is a state-of-the-art PV solar panels factory with a total capacity of 1.2 GW and a SAR700 million investment
  • Solar panel systems are now priced $1-1.5 per watt

Consumer ‘experience’ reshapes retail in the Gulf

Companies are increasingly focusing on health and wellness in products and services, says Mohammad A Baker, Deputy Chairman and CEO...
  • People, communities, and governments are working to attain personal sustainability goals driving the retail sector
  • GCC governments have established several measures targeted at raising awareness of healthy lifestyles

Saudi Arabia eyes gas primacy with Al-Jafurah

The country is looking to move up a position and become the world’s second-largest gas producer with this field.
  • Saudi Arabia intends to be one of the most influential in defining global policies in the gas market
  • Al-Jafurah is the country’s largest non-associated gas field, with reserves estimated at 200 trillion cubic feet

PIF’s diverse investments transform Saudi economy

From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future...

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Global inflationary waves may hit Arab world’s growth

Rising rates and global slowdown pose challenges for economic growth and investment in Arab countries, which expect to expand at...

Saudi real estate gets non-oil boost

The Saudi commercial real estate market is set for a significant upswing in 2023, propelled by the government's vision to...

GCC eyes global recycling dominance amidst EV boom

While rising EV demand may cause a global shortage of metals like cobalt and lithium by 2030, the Gulf region's...

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Dubai leads as GCC real estate transactions soar in H1

Gulf real estate hit $90.7 billion in the first half of 2023, a 9.9% rise y-o-y, as Dubai led the...
  • Gulf real estate hit $90.7 billion in the first half of 2023, a 9.9% rise y-o-y, as Dubai leads the market with a 57 percent increase, fueled by demand for luxury properties
  • Residential prices in Dubai surge 11.7% in the Q2 of 2023, while Abu Dhabi's growth stays muted. Dubai's rents jump 32.6% y-o-y, while other markets see slight rise

Saudi Arabia turns to maritime to diversify revenues

Saudi Aramco's King Salman Complex, set to be the largest marine industry hub in the Middle East, is expected to...
  • Saudi Aramco's King Salman Complex, set to be the largest marine industry hub in the Middle East, is expected to boost Saudi Arabia's GDP by over $17 billion
  • The complex aims to localize technologies and meet the needs for building offshore oil and gas rigs, offshore platforms, offshore support vessels, and crude tankers

Eastward shift: GCC builds strategic ties with ASEAN

Trade between GCC and ASEAN doubles, marking a new economic collaboration era as Saudi Arabia, Qatar, Oman, and UAE enhance...
  • Trade between GCC and ASEAN doubles, marking a new economic collaboration era as Saudi Arabia, Qatar, Oman, and UAE enhance ties by signing Treaty of Amity and Cooperation
  • The UAE dominates Gulf investments in ASEAN with 74% share from 2016 to 2021 as recent free trade agreements with Indonesia and Singapore indicate expanding GCC-ASEAN ties