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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.

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 football dominates Gulf sports scene this year

The Kingdom's football undergoes a historic transformation in 2023 with major investments and player signings, and Saudi Arabia wins the...

E-commerce leads change in Mideast retail, fashion

"During the pandemic, e-commerce grew in popularity since it was the most viable — or only — choice at the...
  • The emphasis on value fashion is a structural shift that is part of the new normal
  • Building a hyper-convenient service ecosystem can significantly increase reach and profitability

Where does Saudi Arabia’s PIF invest most?

The kingdom's sovereign wealth fund is critical to its economic goals as it channels returns from foreign investments into non-oil...
  • The Saudi Public Investment Fund raised its US-listed stock holdings to $43.4 billion in 2021 Q3.
  • The PIF is one of Lucid's most notable investors, owning approximately 62.7 percent of the company's shares.

Luxury brands burning products is a problem

High fashion can be detrimental to the environment because of its large carbon footprint.
  • To keep their uniqueness, high-end fashion brands routinely burn unsold products
  • Fashion contributes up to 8 percent of the global carbon footprint

High packages may help GCC in talent hunt

Global employment, which was severely affected by the pandemic, is beginning to rebound as economies reopen. The UAE, which was...
  • There is a growing competition for the local talent also, necessitating re-evaluation of salary packages.
  • Working from home is here to stay, and many candidates are increasingly asking about this flexibility.

Kuwaitis complain about rising prices, high inflation

Growing costs and a drop in purchasing power are seen as deterioration of the standard of living Kuwaitis have been...
  • The International Monetary Fund (IMF) attributed Kuwait's high inflation rate in 2021 to sharp rises in food prices and the cost of travel-related services.
  • The IMF expected that inflation would reach 3.2 percent by the end of this year and then stabilize at 3 percent in the medium run.

Value via sustainability gives firms an edge

A sustainability-focused company strategy boosts brand value and efficiency, matches customer demands, attracts top personnel, and opens new doors.
  • A McKinsey Global Survey reveals that organizations can become sustainable simply by adopting a set of management strategies
  • As per the respondents, organizations are now also likelier to prioritize sustainability and define specific goals and objectives

Zero-carbon not the end of oil and gas

Some people conflate the target of zero carbon emissions with the notion that the era of oil, gas, coal, and...
  • Carbon emission targets are sometimes misunderstood with the end of oil, gas, and coal
  • Oil and gas are still the primary drivers of the global economy, and will continue to be so for decades

What are the most recent retail trends?

With the retail sector rebounding in the UAE, Cyrille Fabre, a partner and director with the Middle East arm of...
  • Retailers are thriving in the areas of omnichannel and customer experience.
  • Unlike carbon-intensive industries, retail can easily achieve sustainability

Urban management can benefit from blockchain

Blockchain may be able to solve quite a few of the problems in the planning and implementation of a smart...
  • While smart cities are a key trend, today's hurdle is high competition and complex device integration
  • Blockchain technology may be able to take care of not only these but also security and other issues

Arab nations’ pledge bolsters COP26 message

The UAE, Saudi Arabia, and Egypt have made some strong climate-action pledges at or before COP26.
  • The summit may not achieve its target of reducing carbon emissions by 45 percent by 2030
  • COP26 wants governments to adopt carbon emission targets through 2030

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...

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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...

Flying taxis: Saudi Arabia stares at sustainable skies

NEOM, the Kingdom's futuristic city, hosts Volocopter's pioneering eVTOL aircraft test flights, marking a substantial stride towards sustainable, smart mobility.

$1.3trn mineral reserves shift Saudi focus to mining

The Kingdom, leveraging its significant copper reserves across the nation, seeks to address the global shortage, particularly crucial amid the...

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Gulf economies pivot towards China: Multi-billion dollar investments strengthen relations

Economic ties between China and the Gulf region's largest economies, Saudi Arabia and the UAE, have surged since President Xi...
  • The value of Gulf companies' acquisitions and investments in China this year increased by more than 1,000 percent yearly to $5.3 billion
  • Abu Dhabi's sovereign wealth fund, the "Mubadala Investment Company," is expanding its operations in China to attract investments

Travel companies give wings to Saudi tourism aspirations

Fueling this ambition is an intricate web of travel companies, including tour operators, airlines, accommodation providers, cruise lines, and destination...
  • The Kingdom, aiming to draw 100 million yearly visitors by 2030, is planning to invest over US$1 trillion in tourism over the next decade
  • Travel companies play a key role in promoting Saudi tourism, developing packages, and collaborating with public sector entities

GCC project awards surge by 86% to $49.7bn in Q2

The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength...
  • The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength of GCC economies
  • Saudi Arabia leads as GCC's largest projects market, while the UAE experiences a 127 percent surge, reaching US$12.2bn in the second quarter of 2023