Search Site

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.

Arab region faces soaring youth unemployment crisis

The region, with the world's highest youth unemployment rate, requires the creation of 33.3 million jobs by 2030 to accommodate...

Experts weigh in on Facebook rebranding to Meta

Facebook is currently facing a lot of flak for accusations of bias, and leaked internal documents back them up.
  • Facebook has a long history of criticism about users' privacy the content it views
  • Today's scandals differ from past instances in the papers leaked from within the corporation

Despite hurdles, interest in 5G high in MENA

As GCC shifts away from dependence on oil and gas revenues, 5G is set to fuel tech growth and ease...
  • 5G subscriptions in the MENA have exceeded 1 million at the end of 2020
  • The deployment of a 5G network faces several challenges

Iran intensifies cyber espionage in Middle East

Cyberattacks by Iranian spies have become more sophisticated and have intensified against Arab countries, say industry experts.
  • Iranian espionage targeted aerospace and telecommunications companies in the Middle East, the US, Russia, and Europe
  • Cybereason identified 10 companies impacted during their three-month investigation

Strong ties help UAE-China trade surge

According to the Chinese statistics, there are over 4,000 Chinese-funded enterprises in the UAE. In 2020, the bilateral trade reached...
  • The UAE is an important part of China's Belt and Road initiative with the Chinese Foreign Minister Wang Yi referring to the gulf country as a "shining pearl."
  • The China-UAE Industrial Capacity Cooperation Demonstration Zone is a major cooperation project to translate the vision of the leaders of the two countries into action

Sharjah Sustainable City builds on green concept

The project, which covers 7.2 million square feet of land in Al Rahmaniyah area, builds on the concept of future...
  • The project extends over an area of 7.2 million square feet of land in the Al Rahmaniyah area of Sharjah, supporting the urban development of the Emirate
  • The city is designed to cover all three elements of sustainability - social, economic, and environmental

Saudi Arabia leads GCC in inflation control

The Kingdom has implemented measures and worked on significant improvements as part of its Vision 2030 to diversify sources of...
  • Concerns about the high inflation rates abound in the Gulf countries as governments spend more to help families
  • Inflation is expected to stabilize in Saudi Arabia due to spending rationalization policies

Qiddiya: Saudi Arabia’s Disneyland

The destination will include a Formula 1 racing trajectory, a Six Flags Theme Park, a water park and sporting venues...
  • The destination will include a Formula 1 racing trajectory, a Six Flags Theme Park, sporting venues, and a large selection of cultural, creative, and artistic activities
  • The entertainment city is expected to attract 17 million visitors in the entertainment sector, 12 million in the shopping sector, and 2 million in the hospitality sector by 2030

GCC: Covid ushering in a cash-free future

About 61% of the UAE consumers are opting for cards or digital wallets instead of paying in cash, a joint...
  • About 61% of the UAE consumers are opting for cards or digital wallets instead of paying in cash, a joint study by Dubai Economy and Visa has pointed out.
  • Another study by McKinsey found that digital point-of-sale transactions in Saudi Arabia doubled in the year leading up to January 2021

Augmented reality transforms fashion retail

Customers can try on and buy entire collections of eyeglasses, lipstick, nail color, jewelry, and even garments by using augmented...
  • Customers can try on and buy entire collections of eyeglasses, lipstick, eye shadow, nail color, jewelry, and even garments by using AR and VR applications
  • All of this is enabled due to significant advances in facial recognition, feature tracking, and computer vision

Saudi realty players bet big on an auction site

Property owners list their property on Mazad Aqari and the platform does the rest in terms of evaluating the property,...
  • Property owners can list their property on Mazad Aqari and the platform will do the rest in terms of evaluating the property, marketing, sales, and closing the deal
  • Saudi Arabia's real estate sector, according to Statista, is expected to reach US$150 billion by 2026 at a CAGR of 12 percent

Arab region faces soaring youth unemployment crisis

The region, with the world's highest youth unemployment rate, requires the creation of 33.3 million jobs by 2030 to accommodate...

Company News

Latest News

Arab SWFs accelerate dealmaking amid scarce funding

Joint investments by sovereign funds hit a record $17.2 billion in H1 this year as Gulf states fund global equity...

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...

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...

Most Read

Trade hits new high as GCC-Japan ties get warmer

Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs.
  • In 2020, Gulf countries' imports from Japan were estimated to be around $17.3 billion, down from $24.3 billion in 2018
  • Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs

Saudi Arabia: An emerging tourism hub

The Kingdom is harnessing the potential of tourism for economic growth, job creation, and cultural exchange. In 2022, Saudi Arabia...
  • With impressive tourism statistics and a vision to attract 100 million annual visits by 2030, the Kingdom aims to contribute 10% to its GDP through tourism
  • Saudi Arabia seizes opportunities through visa simplification, major events, and new markets as sustainability drive and Vision 2030 help the sector grow

Rise in foreign sukuk offset by local currency decline

Saudi Arabia's reduced banking liquidity and lower oil prices have led to a decline in local currency sukuk, but a...
  • Saudi Arabia's reduced banking liquidity and lower oil prices have led to a decline in local currency sukuk, but a surge in foreign currency issuances, says a report
  • A new report by S&P Global Ratings indicates mixed activity levels, suggesting the need for harmonization of Sharia standards to attract non-core jurisdictions