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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.

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

Why Covid-19 jolted some Arab states?

The flaws in the health systems of some MENA countries such as Tunisia, Lebanon and Jordan, which were struggling with...
  • Tunisia's healthcare system appeared crumbling under the weight of recent infections caused by the Delta variant.
  • The Lebanese government's failure to pay dues to be public and private hospitals aggravated the Covid-19 crisis.

GCC forges ahead in sustainable tech initiatives

In 2023, the Gulf countries made a strong push towards renewable energy and pioneering green hydrogen projects, signaling a significant...

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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...

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...

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,...

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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

Saudi healthcare needs 175,000 professionals by 2030

The Kingdom is modernizing healthcare with national e-health initiatives, integrated plans for virtual and remote healthcare, and the implementation of...
  • The Kingdom is modernizing healthcare with national e-health initiatives, integrated plans for virtual and remote healthcare, and implementation of AI at service provider levels
  • The Saudi government is also investing in training and recruiting healthcare professionals, encouraging Saudi students to pursue medical and healthcare-related education