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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...

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

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

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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$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...

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...

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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

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