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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.

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

What are the top ecommerce platforms in the GCC?

Ecommerce in the world in general and the GCC region in particular has proliferated despite the Covid-19 pandemic, or probably...
  • The UAE and Saudi Arabia together accounted for 75 percent of total ecommerce sales in the region
  • Ecommerce is expected to rise at a compound annual rate of 19 percent in 2024

2024 set to see new era of digital transformation

The GCC region is on the brink of a major tech revolution, led by advancements in AI, fintech, and sustainable...

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Latest News

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...

E-visas to drive tourism’s GDP share to 10%

Saudi Arabia is leveraging digital solutions to streamline travel, link tourists with local enterprises through apps, and enhance experiences via...

Most Read

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

Adaptability, innovation crucial for success in Dubai’s competitive F&B industry

Commitment, market awareness, and adaptability are keys to success in Dubai's highly competitive F&B industry, says Deepti Chawla of Infiniti...
  • Commitment, market awareness, and adaptability are keys to success in Dubai's highly competitive F&B industry, says Deepti Chawla, Founder of Infiniti Holdings & DCloud Kitchens
  • The F&B sector in the UAE is expected to touch US$8.9-billion mark by 2025, with Dubai, which hosts more than 20,000 eateries, leading from the front, adds Chawla