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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.

Amazon extends its cloud over Middle East

Nearly two years after it set up a base in Bahrain, Amazon Web Services (AWS) has widened its footprint beyond...
  • The new AWS Middle East UAE Region will have three Availability Zones and will be AWS' second Middle East region
  • Customers with data residency requirements in the UAE can now store their data in the new AWS Region in UAE

Taxation and confiscation to rein in crypto market

Last few years have seen a lot of tension between governments and central banks around the world, on the one...
  • Concerns are rising that these currencies could be used to fund illegal actions and for money laundering.
  • Several countries have taken strict measures to crack down on the industry that is viewed with suspicion uniformly across the world.

R&D in Arab world: Challenges and successes

Raging political crises across the region have negatively impacted the economies of several countries. Consequently, spending on research has barely...
  • Jordan's ratio of researchers to its citizens was 150 percent of that of its closest competitors.
  • Saudi Arabia spared the highest--$12.5 billion--funds for research and development in the Middle East and Africa Region,

E-Sports a billion-dollar industry in GCC

The Middle East has 25% of the worldwide gaming audience, followed by Latin America 13.9%, the Asia Pacific 9.2%, Western...
  • The Middle East has 25% of the worldwide gaming audience, followed by Latin America 13.9%, the Asia Pacific 9.2%, Western Europe 4.8%, and North America 4%
  • The value of gaming in the MENA is estimated to be US$4.5 billion with over 100 million gamers in the region

The most interesting pavilions at Expo 2020

Expo 2020 Dubai boasts some unique pavilions. Here’s a look at the most engaging among them.
  • Future Forest, the Spanish Pavilion, boasts an organic and recycled artificial ecosystem
  • The Women’s Pavilion is intended to honor the significant roles that women, known and unknown, have played throughout history

Digital transformation helps GCC banks prosper

Digital transformation brought about by COVID-19 has made banks more open to branchless and cashless banking enabling them to perform...
  • Tech adoption amidst COVID-19 makes regional banks more open to branchless and cashless banking enabling them to manage better in H1 2021 than they did in 2020
  • The margins of the regional banks were under pressure throughout 2020 and early this year, but they managed to stay afloat by reducing costs and improving efficiency

More UAE women take up STEM courses

The Emirati women's share in online enrollments in science, technology, engineering, and mathematics rises to 42 percent in 2021 from...
  • The Emirati women's share of online enrollments in science, technology, engineering, and mathematics increased to 42 percent in 2021 from 38 percent in 2019
  • Women’s enrollment in entry-level professional certificates also went up in the country from 26 percent in 2019 to 32 percent in 2021

Expectations rise for Expo 2020 gains to materialize

A study published said projections for 2019 indicated investments that would generate long-term returns of up to $33.3 billion.
  • The mega event is expected to create 905,200 job opportunities.
  • A survey ahead of Expo 2020 by the Dubai Chamber of Commerce and Industry maintains Dubai’s economy was recovering.

Expo 2020: Cisco operating next generation IT network

The company, the Expo's 2020 official partner, is ready to greet visitors and provide them with the most up-to-date digital...
  • The company, the Expo's 2020 official Digital Network Partner, is ready to greet visitors and provide them with the most up-to-date digital solutions
  • It will deploy 20,000 secure endpoints across the site to deliver industry leading connectivity

UAE and KSA: Competing for a real estate pie

Saudi Arabia and the United Arab Emirates contributed about 70 percent of the total value of the Gulf Cooperation Council's...
  • Saudi Arabia and the UAE contributed about 70 percent of the total value of the GCC's real estate deals in H1 2021
  • Reports published by KAMCO Research claim Saudi Arabia provided 44% of the value of deals in the MENA region in 2021

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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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...

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...

Will extended oil production cuts stunt Saudi growth?

The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain...

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AI ‘disrupts economy’ but Middle East optimistic

The Boston Consulting Group survey found that 58 percent of Middle East employees, managers, and leaders believe that AI will...
  • An overwhelming 78 percent of respondents are confident that the rewards of GenAI outweigh the risks
  • 76 percent of all respondents believe that AI-specific regulations are necessary to manage the risks

High oil prices, reforms spur Saudi economic boom

The Kingdom's non-oil private sector expanded sharply in June as output and new orders rose at accelerated, multi-year record rates,...
  • The Kingdom's non-oil private sector expanded sharply in June as output and new orders rose at accelerated, multi-year record rates, indicating strong growth rate.
  • Consumer spending saw a remarkable 15% year-on-year rise in May, despite a monthly drop, while SAMA foreign reserve assets rose in May for the first time in six months

Office segment demand drives Saudi Arabia’s real estate boom

"The office sector shines brightest in the real estate market. Saudi Arabia's rapid economic growth drives the demand," Faisal Durrani,...
  • Prime rents in Riyadh have risen by 19 percent in the last year, while in Jeddah, they have risen by about 9 percent
  • The main demand centers for office space in the kingdom are Riyadh and Jeddah, and Dammam Metropolitan Area