48% of people in UAE expect cross-border payments surge in 2024
Dubai, UAE -- Nearly 48 percent of individuals in the UAE anticipate an uptick in cross-border payments over the next...
Business
Climate action slowed in 2022, severe weather events increased
Paris, France -- National climate policy action across the countries that produce nearly two-thirds of total greenhouse gas emissions only...
Geostrategy
Smokers are up to 50 percent more likely to die from Covid: WHO
The UN health agency’s 'Commit to Quit’ tobacco campaign has made resources from its Quitting Toolkit freely available to more...
Saudia Arabia to amend administrative penalties for tax law violations
The changed laws are also expected to support tax registrants and help them fulfil their tax obligations
A Saudi mom can now vouch for her child to open a bank account
Before this decision, a married mother had to bring her husband or obtain court's consent to open an account for...
Saudi Arabia allows a Spanish solar power firm to set up plant in the kingdom
PV Hardware Middle East will manufacture trackers, mounting structures, and cleaning robots for the Saudi solar market
Qatar is the go to place for migrants workers looking for a decent life
Qatar employs some 2.3 million migrant workers in a total population of 2.6 million
Egypt, Ever Given continue to spar over compensation for Suez blockage
The Suez Canal Authority (SCA) claimed more than $916 million in damages, but out-of-court negotiations lowered the figure to $550...
Zain launches Middle East’s first mental wellness support for employees
All 7,000 Zain employees to get mental health counseling from psychologists Zain expects Rise will increase employee retention, loyalty Zain...
Digital transformation boosts data economy growth in UAE: Report
Data economy on track to become one of the largest economic sectors globally The report suggests stepping up collaboration among...
Vantage Capital invests $23 million in PickAlbatros Hotels
PickAlbatros has a portfolio of about 10,000 rooms across the Red Sea resort towns Vantage Capital partner David Kornik expects...
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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
48% of people in UAE expect cross-border payments surge in 2024
Dubai, UAE -- Nearly 48 percent of individuals in the UAE anticipate an uptick in cross-border payments over the next...
Business
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Subscription opens to Alinma EMF
Business
Saudi Catering, RSG ink pacts
Business
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Saudi tourism on growth path despite hiccups
Infographics
Struggling Lucid weighs down PIF’s robust US equities show
Dubai, UAE -- Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), reported 9.6 percent growth in its US equity holdings to...
Business
Saudis, Emiratis gain wealth, but disparity remains
In 2022, 45 percent of adults in Saudi Arabia had a net worth of less than $10,000, against 43 percent...
Economy
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Five skills workers require in real estate
Saudi Arabia’s real estate sector is evolving with new regulations, creating fresh job opportunities. The latest initiatives seek to enhance...
- Saudi Real Estate General Authority introduces 12 new roles, including positions like real estate broker, advertiser, and property manager
- The initiatives are aimed at boosting the real estate sector's contribution to the Kingdom's GDP, enhancing the role of non-oil sectors
Business
Bahrain Central Bank’s Sukuk Al Salam oversubscribed 319%
Manama, Bahrain - The Central Bank of Bahrain (CBB) has said its monthly issue of the Sukuk Al-Salam Islamic securities...
- Subscriptions worth BD 137.151 million ($364m) were received for the BD 43 million ($114m) issue, which carries a maturity of 91 days.
- Expected return on the issue, which begins on August 16 and matures on November 15, is 6.25 percent, compared to 6.10 percent of the previous issue.
Business
Yalla Group H1 revenue $152m
The Group posted revenues of $79 million in the second quarter.
- The revenue grew by 2.9% compared to the first half of last year, while the net income in H1 2023 was recorded at AED176.9 million ($48.2m)
- Yalla displayed strong performance in the second quarter of the year where it posted revenues of AED291 million (around $79.2 million)