Tech-empowered shoppers drive Saudi consumer behavior: PwC
Riyadh, Saudi Arabia -- Saudi Arabian consumers are navigating the market with heightened awareness, becoming better-informed buyers, according to the...
Business
Abha Valley has potential to be a tourist destination
ABHA, SAUDI ARABIA - Extending over 34 kilometers, the Abha Valley Basin enjoys a variety of wildlife aspects, civilizational features...
Business
Business
UAE inflation low but businesses burdened by rising costs: Report
IMF estimates inflation in the UAE is expected to be at 3.7 per cent in 2022, falling to 2.8 percent...
- About 37 percent of UAE businesses are changing their pricing strategy in line with cost increases and 31 percent are focusing on product or service differentiation.
- Businesses in the UAE report cost increases of 18 per cent for energy and utilities, 17 per cent for raw materials and 14 per cent for wages and staff compensation.
Business
Dubai records realty deals worth $241 million on Wednesday
Dubai recorded realty transactions worth AED888 million ($241 million) on Wednesday. The real estate market in the emirate recorded 310...
- The real estate market in the emirate recorded 310 sales transactions worth AED668.1 million, in addition to 86 mortgage deals of AED163.78 million.
- A day earlier, Dubai real estate market recorded AED1.2 billion in realty transactions.
Business
Etihad orders 7 A350F freighters
The freighters will upgrade Etihad's freight capacity.
- With this order, Etihad adds to its existing order of the largest passenger version of A350-1000s, five of which have been delivered.
- Etihad has also firmed up a long-term agreement for Airbus' Flight Hour Services (FHS) to support its entire A350 fleet.
Economy
UAE central bank issues new guidance for politically exposed persons
The Central Bank of the UAE (CBUAE) has issued new guidance on Anti-Money Laundering and Combating the Financing of Terrorism...
- The guidance will help Licensed Financial Institutions understand risks and effective implementation of anti-money laundering and terror financing guidelines.
- The guidance requires LFI’s to demonstrate compliance with its requirements within one month.
Geostrategy
China launches second of three space station modules
China launched on Sunday the second of three modules needed to complete its new space station, state media reported, the...
- Beijing launched the central module of its space station Tiangong -- which means "heavenly palace" -- in April 2021.
- Almost 18 meters (60 feet) long and weighing 22 tons (48,500 pounds), the new module has three sleeping areas and space for scientific experiments.
Business
Dubai records real estate transactions worth $296m on Thursday
Dubai real estate market recorded 379 sales transactions worth AED1.09 billion ($296 million), in addition to 96 mortgage deals of...
- The sales included 359 villas and apartments worth AED755.34 million, and 20 land plots worth AED331.11 million.
- mortgages included 78 villas and apartments worth AED170.89 million and 18 land plots valued at AED148.89 million.
Business
EDB, Valiant Healthcare sign pact
EDB credit facility will extend to both capital investment and expenditures.
- The signing ceremony was attended by Ahmed Mohamed Al Naqbi, CEO of EDB, Faisal Juma Belhoul, Chairman of Valiant, and Ahmed bin Juma Belhoul, CEO of Valiant Healthcare.
- We will introduce our patients to additional highly valued premium inpatient rooms, in addition to a state of the art Cath-lab & EP lab, said Belhoul.
Business
Dubai ruler issues decree establishing toll operator Salik as company
Dubai road toll operator Salik has been established as a Public Joint Stock Company according to a law issued by...
- According to a law issued by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum the Dubai Government owns all the shares of Salik Company.
- The Executive Council of Dubai is authorized to determine the percentage of shares that can be offered for subscription either through an IPO or private placement.
Business
FAB completes Bank Audi Egypt merger
FAB's Egypt assets will operate under the new brand "FABMISR".
- The system integration under the new identity is expected to be completed in the fourth quarter of this year.
- Through the legal merger, FABMISR will become one of the largest foreign banks operating in the Egyptian market.
Geostrategy
G7 nations to stop financing fossil fuel projects abroad by end 2022
Japan Friday for the first time joined fellow members of the Group of Seven industrialised nations in pledging to end...
- Ending subsidies for the international fossil fuel energy sector was already part of a series of commitments agreed to by around 20 countries at COP26 climate summit in Glasgow.
- Six of the G7 club of rich nations were among the signatories at the time -- Britain, Canada, Germany, France, Italy and the United States -- but Japan had resisted until now.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Tech-empowered shoppers drive Saudi consumer behavior: PwC
Riyadh, Saudi Arabia -- Saudi Arabian consumers are navigating the market with heightened awareness, becoming better-informed buyers, according to the...
Business
Company News
TAQA H1 net income $3.67bn
Business
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Riyadh to host Peace and Sport Middle East Forum in Oct
Arts & Culture
Care secures $93.3m Murabaha facility
The long-term facility was obtained from Gulf International Bank.
Business
ADES prices IPO $3.33-$3.60 per share
The book-building process starts Sunday and run through Sept. 14.
Business
Gaza exports to Israel resume as crossing reopens: Palestinian official
The Kerem Shalom crossing, the only point of entry for goods between Gaza and Israel, was closed last week after...
Geostrategy
Most Read
Business
Qatar realty market trading volume $277 million in August
Doha, Qatar -- Qatar real estate market recorded deals worth QR1.011 billion ($277 million) in the month of August 2023,...
- The real estate market index for the month of August revealed that the financial value of Doha municipality's transactions amounted to QR 290 million.
- Of the 10 most expensive properties sold in the month, Doha accounted for seven and Al Rayyan, Al Wakrah and Umm Salal one each.
Business
Russia’s Sberbank launches new tourism-oriented services in Iran
Tehran, Iran -- Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to...
- According to Sber, ruble transfers will be sent to the Iranian Pasargad Bank with the standard commission for international transactions of 1 percent.
- Last December, Russia’s second-largest bank VTB launched a similar service in Iran and later in May it opened a branch in the country.
Economy
Global rice prices hit 15-year high after India curbs: FAO
Rice is a major world food staple and prices on international markets have soared in the wake of the Covid...
- The consumer affairs and food ministry said at the time that the move would "ensure adequate availability" and "allay the rise in prices in the domestic market".
- The ban was expected to hit African nations, Turkey, Syria and Pakistan, all of which were already struggling with high inflation, data analytics firm Gro Intelligence said.