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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.

Holy and worldly offerings of Saudi tourism

The Arab world's most powerful economy is devoting enormous resources to attracting at least 100 million tourists by 2030. TRENDSMENA...
  • King Fahd Fountain, the tallest fountain in the world, holds up to 318 tons of seawater and measures 312m in height.
  • Masjid al-Haram comprises 13 minarets, while five main entrances/doors and hundreds of subsidiary doors give the building its overall form.

Covid-19 fails to impact realty in UAE, Saudi Arabia

While the UAE has seen a record amount of real estate sales in the first six months of 2021, Saudi...
  • Demand for villas increased in the UAE because of the pandemic outbreak and also due to low-interest rates.
  • The real estate sector contributed 14.2 percent of the Saudi GDP ranking third as the most contributing economic activity.

Unemployment will haunt Gulf in 2021

While joblessness will be a worry, the economies of the GCC countries are expected to grow by about 2.5 percent...
  • Saudi Arabia ranked first in the GCC in terms of the unemployment rate, which reached 8.2 percent of the total workforce in 2020.
  • Bahrain and Oman are struggling with rising public debts while their unemployment rates stood at 4.1 percent and 5 percent respectively.

Anghami rules regional music streaming sector

Homegrown music-streamer Anghami is giving industry bigwigs like Spotify and Deezer a run for their money.
  • The $220-million merger with Vistas Media made Anghami the first Arab technology company listed on Nasdaq
  • Due to large companies signing agreements with international and local musicians and artists, voice platforms have gained global attention

How will new remittance rules affect Lebanon?

The new rule authorizes banks to buy dollars from fresh dollar accounts without a customer's permission.
  • Lebanon ranked third in the Arab world in receiving remittances in 2020
  • Dollars entering Lebanon in the first half of 2021 were higher by 50 percent than those over the same period in 2020

GCC hotel industry readies for a comeback

The Gulf hotel sector's investments, according to reports, have reached $27 billion. New hotel projects worth $3.5 billion in the...
  • Hotel licenses in Saudi Arabia can now be obtained in just 10 days.
  • Until March 2021, UAE had 1096 hotels with 181.3 thousand rooms.

High cost of non-stop flying shakes up aviation

The global aviation industry has been booming for the last few decades now. But the unprecedented growth in jets flying...
  • The aviation sector generates 2-3% of global carbon emissions
  • Industry leaders pledged to halve net CO2 emissions to 2005 levels by 2050

Expo 2020 promises a productive Q4

The sale of tickets, easing of travel restrictions and positive investment projections point to a surge in economic activity in...
  • Dubai intends to open its doors to visitors and re-establish 90 percent of its operating capacity at its airports in 2021.
  • 66 percent of Dubai business leaders expected an improvement in business conditions in 2021 Q3, compared to 51 percent in the previous quarter.

Saudi Arabia to create million tourism jobs by 2030

Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations and eyes 100 million tourists by...
  • Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations
  • By 2030, the country expects to enhance its airport capacity by 30 percent

GCC looks up to stars with its space probe

The GCC might have been a late entrant to the exclusive club of space programs, but with its deep pockets...
  • The GCC governments have built a 21st-century vision of space focused on business, power, image, and control
  • Saudi Arabia's space program is the only one that compares in scope and ambition to the UAE

Saudi football dominates Gulf sports scene this year

The Kingdom's football undergoes a historic transformation in 2023 with major investments and player signings, and Saudi Arabia wins the...

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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...

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...

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...

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Resumption of Saudi-Iran relations: A step towards regional, economic stability or a strategic play?

The peace deal has ignited debates on its potential to transform Middle East from a region hit by conflicts to...
  • The bilateral peace agreement has sparked intensified debates about its potential to transform the Middle East from a conflict-ridden region to peaceful and prosperous place
  • Despite government-level reconciliation, Saudi-Iran ties face early-stage challenges, including Iranian aggression, and businesses in both countries risk political uncertainties

Resumption of Saudi-Iran relations: A step towards regional, economic stability or a strategic play?

The bilateral peace agreement has sparked intensified debates about its potential to transform the Middle East from a conflict-ridden region...
  • The bilateral peace agreement has sparked intensified debates about its potential to transform the Middle East from a conflict-ridden region to peaceful and prosperous place
  • Despite government-level reconciliation, Saudi-Iran ties face early-stage challenges, including Iranian aggression, and businesses in both countries risk political uncertainties

Expo 2030: All eyes on Riyadh as it makes a big pitch

With ongoing mega-projects and economic diversification, Riyadh's strong Expo 2030 candidacy has already garnered support from 90 of 170 member...
  • With ongoing mega-projects and economic diversification, Riyadh's strong Expo 2030 candidacy has already garnered support from 90 of 170 member states
  • Aiming to surpass Expo 2020 Dubai's visitor count, the Kingdom anticipates more than 40 million on-site and a billion virtual Metaverse visits during the event