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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.

Dubai leads way as GCC markets show mixed results

Amid market volatility influenced by geopolitical tensions and fluctuating oil prices, pharma, insurance, and healthcare indices led with substantial gains...

GCC nations eye Hyperloop travel by 2030

It is predicted that the Hyperloop technology will carry between 45 and 50 million passengers yearly in the Gulf Arab...
  • It is predicted that the Hyperloop technology will carry between 45 and 50 million passengers yearly in the Arab Gulf states using clean and renewable energy
  • The Dubai government owned DP World has granted permit to Virgin Hyperloop to develop the technology in the emirate

Stock markets in GCC rise as oil prices gain

Most stock markets in the Gulf rose on Thursday as oil prices gained on growing fuel demand and a bigger-than-expected...
  • Dubai's main share index added 0.2%, extending gains from the previous session
  • blue-chip developer Emaar Properties rising 0.7% while DAMAC Properties advanced 2.4%

Non-oil sectors fuel Saudi economic growth

Amidst forecast of economic recovery of Saudi Arabia, a few sectors that have driven the Kingdom's Q2 growth include real...
  • The overall Saudi Arabia's GDP in Q2 of 2021, according to the General Authority for Statistics, has been 1.8 percent
  • The robust growth was witnessed in real estate (12 percent), non-oil manufacturing (15 percent), and wholesale, retail trade restaurants, and hotels (16.9 percent)

Gulf region poised for higher growth in 2021: Expert

The economies of the region are recovering fast on the back of the rising oil prices and speedy vaccination programs,...
  • The economies of the region are recovering fast on the back of the rising oil prices and a reasonably speedy vaccination program
  • In 2022, tourism should also significantly boost growth, resulting in recovery in the non-oil sector as domestic consumption and investment demand improves

Investment in agritech key to UAE’s food security

Investing in agricultural technologies can take the UAE closer to its goal of being one of the top 10 countries...
  • Over 100 entities use organic farming techniques in the UAE, including advanced farms that utilize modern agricultural technologies.
  • The Abu Dhabi Investment Office is investing at least US$100m in agritech startups as part of their food security strategy.

Covid-19 drives e-learning in GCC

There has been a massive growth in content creation and learners' demand in last two years as the pandemic puts...
  • There has been a massive growth in content creation and learners' demand in last two years
  • E-learning is highly dependent on digital infrastructures, such as Internet usage and connection fees, which vary dramatically from one Arab country to another

Saudi biggest Arab economy, Sudan most indebted

The Saudi economy, as per IMF, is recovering "well" from the pandemic, estimating the kingdom's non-oil economy will grow by...
  • COVID-19 increased the average debt in Arab countries to 81.8 percent of its GDP in 2020, up from 69.4 percent in 2019.
  • Qatar has the highest GDP per capita in the Arab world due to its small population.

Saudi gold glitters more in the region

Gold prices reached record levels in 2020 following an increase in investor appetite because of COVID-19. The price of yellow...
  • Gold jewelry shopping in Saudi Arabia and Egypt grows 13 percent and 4 percent and decreases 12 percent in the UAE
  • China purchased 191.1 metric tons of gold in 2021, followed by India, which bought 102.5 metric tons

Cloud adoption picks up pace in GCC region

The strong demand for cloud computing in the Gulf region is driven by efforts of the member states to diversify...
  • The UAE leads the region in terms of cloud computing adoption and annual spending.
  • The MENA region will be worth around $5 billion to cloud suppliers by 2022.

Gulf aviation sector maintains regional lead

Several airports in the region have announced plans to expand their airports to meet the expected growth in travel demand.
  • Experts see up to 40 percent rise in premiums in the next two to three years.
  • The total number of passengers traveling through DXB in the first five months of 2021 was around 9.9 million.

Dubai leads way as GCC markets show mixed results

Amid market volatility influenced by geopolitical tensions and fluctuating oil prices, pharma, insurance, and healthcare indices led with substantial gains...

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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...

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,...

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,...

Most Read

MENA region trails in global race for gender parity

The Middle East and North Africa region scores only 62.6% in gender parity, and at the current pace, the region...
  • The Middle East and North Africa region scores only 62.6% in gender parity, and at the current pace, the region will achieve full parity in 152 years, says a WEF report
  • Solutions like Gender Parity Accelerators and DEI Lighthouse Program are being implemented, but the path to gender parity remains a challenging one, it adds

Gaming navigates financial woes amid inflation rise

The GCC gaming industry, bolstered by Saudi Arabia's $38 billion investment, is poised for significant growth that may make it...
  • The GCC gaming industry, bolstered by Saudi Arabia's $38 billion investment, is poised for significant growth that may make it a global leader by the year 2030, says an expert
  • With the largest gaming community in the GCC, Saudi Arabia recognizes the potential of esports and gaming as drivers of economic growth and cultural development, he adds

HNWIs’ wealth in Middle East grows despite slowdown

Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong...
  • Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong earnings in the oil and gas sectors
  • Globally, HNWI wealth and population declined, with North America experiencing the sharpest decline. HNWIs have shifted focus to value and prioritized wealth preservation