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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.

Climate threats haunt GCC’s economy and finance

The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's...

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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...

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...

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...

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Gulf banks witness continued growth in lending activities

The first quarter of 2023 experienced a surge in credit demand, except for a slight dip in Qatar. The latest...
  • GCC banks witness a 3.2% increase in aggregate gross loans, reaching a record of $1.87 trillion, while NPL ratios improve, with the average ratio decreasing to 2.3%
  • Due to the expansion of the banking business and government support, the UAE has the highest NPL ratio, while Saudi Arabian banks exhibit the highest q-o-q growth

UAE implements corporate tax amidst mixed reactions

Some experts deem the tax rate reasonable in global context, while others remain concerned about challenges the new tax regime...
  • Some experts deem the tax rate reasonable in global context, while others remain concerned about challenges the new tax regime could pose for family-owned businesses
  • Experts see long-term gains including transparency, diversification, and investor appeal from the taxation, which aims to diversify UAE's revenue and strengthen its financial base

Luxury car market rides on sustainability

A shift in consumer preferences -- with a substantial percentage of sales coming from smaller and midsize vehicles -- hasn't...
  • A shift in consumer preferences -- with a substantial percentage of sales coming from smaller and midsize vehicles -- hasn't dented the appeal of luxury cars, says an expert
  • Audi is working on new technologies, including digitization of production processes, AI, and robotics, to optimize output, adds Peter White, Sales Director at Audi Middle East