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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.

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...

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.

The Grand Renaissance Dam: Egypt’s Nile nemesis

Ethiopia's refusal to sign a binding agreement on the dam has dashed hopes of a settlement with Egypt and Sudan.
  • Egypt's area under agriculture could lose by up to 72 percent in case of short filing of the dam.
  • Ethiopia has said earlier treaties on Nile waters have undermined its rights and the dam will help in the country's development.

Bitcoin no threat to dollar, global economy

Despite being the future of money, Bitcoin cannot be the dollar of future because the US dollar is a fiat...
  • Bitcoin cannot be the dollar of the future because the US dollar is a fiat currency, created and supported by the US government
  • Cryptocurrencies vary from real currencies since they are issued by people and communities rather than governments, something that has never happened before in the history of money

Iraqis saddest people in Arab region: Report

Political, economic and social crises in the Middle East countries has led to an implosion of negative emotions among their...
  • Lebanon, Egypt and Tunisia follow Iraq, according to Gallup World Poll.
  • Research has revealed that emotions usually drive bad investment decisions.

Saudi, UAE lead MENA region in 5G deployment

The MENA region will have 80 million 5G subscriptions, representing about 10% of total mobile subscriptions by 2025, according to...
  • The total number of Saudi Governorates covered by 5G coverage increased to 53 in Q1 2021
  • The UAE ranks third internationally among countries with the fastest data download speeds in 5G networks, according to an analysis by “Opensignal”

Saudi non-oil revenues jump 206%

The non-oil revenues of Saudi Arabia have increased to US$31 billion in Q2 2021 as against US$10.1 billion in Q2...
  • Saudi economy contracted by 7 percent in 2020 but grew by 1.5 percent in Q2 2021
  • IMF expects Saudi real GDP to expand by 2.4 percent in 2021, following a contraction of 4.1 percent last year

Hyperinflation imminent in Lebanon: Nasser Saidi

A crushing economic crisis, a sharp collapse of the local currency and a bankrupt banking sector are adding to the...
  • Lebanon's banking sector must reduce the size by at least 50 percent if not more, says senior economist Nasser Saidi
  • Lebanon, he says, will take 5–7 years to recover if it agreed to an IMF program within the next three months

Five cities poised to become GCC tech hubs

As part of economic transformation, some Gulf countries seek to achieve targets in digital transformation via long-term plans such as...
  • The UAE has become a technological leader in hosting the world's largest event, Expo 2020 Dubai.
  • In February 2021, 24 global firms had signed agreements to open regional offices in Riyadh.

UAE platforms lead GCC crypto market

Even as the GCC countries dither to embrace cryptocurrencies, the UAE has made some significant strides in this regard.
  • The United Arab Emirates already boasts about some of the biggest crypto exchange platforms in the GCC region
  • However, it is yet to warm up to crypto ATMs, a field where the United States rules the roost

Dubai’s gourmet restaurants hungry for a star

It is a prize a restaurant or a chef would die for to possess. It is the culinary equivalent of...
  • Technically there are no Michelin-starred restaurants in the Arab countries, as Michelin does not publish a city guide yet
  • However, many restaurants in Dubai are owned by chefs who have earned Michelin stars in other countries

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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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,...

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...

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...

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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

UAE, Saudi firms eye global acquisitions worth $20bn

Companies like ADNOC, Saudi sovereign fund, and Niu are making significant strides as the two Gulf countries seek to diversify...
  • Companies like ADNOC, Saudi sovereign fund, and Niu are making significant strides as the two Gulf countries seek to diversify their economies and capitalize on high oil prices
  • "M&A surge in the Middle East fueled by private equity and sovereign wealth funds, and backed by liquidity and reforms, is giving wings to region's transformative aspirations

Tech-driven sustainability focus of banks

Financial institutions in the Gulf region are also focusing on sustainable practices like renewable energy investments, reducing their carbon footprint,...
  • Through digitalization, collaboration with fintech companies, and responsible banking practices, banks are leading the charge in sustainable development in the region, say experts
  • Gulf banks are also focusing on sustainable practices like renewable energy investments, reducing their carbon footprint, and supporting sustainable businesses, they add