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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.

Localization in focus as KSA raises military spending

Saudi Arabia's 2024 budget hikes military spending to $71 billion for industry localization and modernization, targeting 50% equipment spending localization...

Saudi Arabia leads GCC AI healthcare race

Experts predict AI will contribute $320 billion to the Middle East economy by 2030 and virtual care, remote patient monitoring...
  • Saudi Arabia is predicted to benefit the most from the shift to AI among the six GCC countries
  • AI is expected to contribute $15.7 trillion to the global economy by 2030.

Athletes not only win hearts, but a lot of money too

The value of the medals at the Tokyo Olympics has been revised upwards. Now the gold medals fetch US$200,000, the...
  • Singapore tops the list of most generous countries with a reward of US$750,000 to the gold medalist
  • The Egyptian Olympic Committee has allocated a financial reward of US$64,000 for the gold medal

Netflix rules Mideast as rivals eye content share

Arab-based platforms such as Starz Play, Wavo, and OSN have become local competitors to Netflix and gaining the ground fast...
  • Saudi Arabia seeks be an essential base for entertainment companies with an attractive investment environment
  • The UAE and Saudi Arabia account for almost half of all MENA subscriptions to streaming services

Digitization key to Tamer Group’s success: Chairman

Tamer Group has achieved significant milestones in B2B to support digital fulfillment and enhance its services, chairman Ayman Tamer tells...
  • Mumzworld Acquisition will help the Group improve the B2B services and extend the digital journey to include B2C, says Ayman Tamer
  • As a Pearl Initiative partner, Tamer Group says it has adopted the best corporate governance and transparency standards

A lot is at stake for poor in Tunisia

The country's economy is witnessing deterioration as sources of income decline, unemployment rises to 18 percent and rising debt necessitates...
  • Lifting subsidies is a risky decision that could spark public unrest
  • The number of poor and vulnerable people will rise from 16.7 percent to 20 percent

Curbs, vaccination drive help GCC minimize COVID-19 impact

Strict restrictions and intensive vaccination drive help the region deal with the pandemic Massive drop in global oil demand and...

Saudi Arabia, UAE lead MENA’s smart city development

In 2023, the region advanced in smart city initiatives, with Saudi Arabia and the UAE leading the transformation, with Frost...

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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...

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...

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...

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Gulf telecom shows robust growth, eyes new avenues

Driven by expats and national development programs, the UAE and Saudi Arabia are expected to experience growth in consumer and...
  • Driven by expats and national development programs, the UAE and Saudi Arabia are expected to experience growth in consumer and enterprise segments, say experts
  • Telecom operators in the region are diversifying into fintech, gaming, healthcare, cybersecurity, cloud, IoT, and emerging tech, driving digital transformations across sectors

Diversification, global investment key to UAE’s growth

The Gulf nation is strategically establishing comprehensive economic partnerships with various countries in bid to diversify its economy and encourage...
  • The Gulf nation is strategically establishing comprehensive economic partnerships with various countries in bid to diversify its economy and encourage global investments
  • As of June 2023, the UAE has entered into five such agreements, notably with Israel, India, Indonesia, Turkey, and Cambodia, with plans to sign three more in the first phase

Rate rise boosts Gulf banks amid crisis

Despite global economic challenges such as the crisis, inflation, and high interest rates, the GCC banking sector has shown impressive...
  • Despite crises in US and Europe, the GCC banking sector has shown significant growth, aided by rate hikes and digitalization, says Commercial Bank of Kuwait CEO Elham Mahfouz
  • Kuwait's banking industry recorded a 37% profit increase in 2022, and is making strides in adopting AI and supporting sustainability initiatives, she tells TRENDS in an interview