Standard & Poor’s affirms Saudi Arabia’s ‘A/A-1’ credit rating
Riyadh, Saudi Arabia – Standard & Poor's (S&P) affirmed the Kingdom's credit rating in local and foreign currency at "A/A-1"...
Economy
Dubai real estate sales hit record $13.6bn in July, growth eases
Dubai, UAE - Dubai's real estate market reached a new peak in July, with sales hitting an all-time high of...
Business
Business
First Abu Dhabi Bank not eyeing offer for Standard Chartered
The company, second time it has quashed reports of an imminent bid, refuted the speculations in the press in a...
- The company, second time it has quashed reports of an imminent bid, refuted the speculations in the press in a report to Abu Dhabi Securities Exchange
- Standard Chartered is a British multinational bank with operations in consumer, corporate and institutional banking, and treasury services
Business
ADNEC posts strong 2022 growth
In 2022, the Group launched its new corporate identity.
- In 2022, the Group launched its new corporate identity including exhibition and conference centres, events, hospitality, event services, and hotels
- A number of specialized companies work within ADNEC Group in six key business areas, led by ADNEC Convention and Exhibition Centres
Business
UAE MoIAT, Sharjah FDI Office ink MoU to promote investment
SHARJAH, UAE - The UAE's Ministry of Industry and Advanced Technology (MoIAT) and Sharjah Foreign Direct Investment Office (Invest in...
- The aim of the MoU is to support sustainable economic growth within a supportive economic environment.
- The MoU enhances cooperation between MoIAT and the Sharjah Foreign Direct Investment Office (Invest in Sharjah), through work and partnerships
Business
Dubai Chamber encourages firms to apply for parent-friendly label
DUBAI, UAE - As many individuals in the UAE face challenges in balancing work and family obligations, parent-friendly workplace policies...
- Working families in the UAE often need to make difficult trade-offs to fulfill their commitments.
- Research has shown that flexible working options are important to 90 percent of the UAE workforce.
Business
Industry experts discuss fintech at Sharjah Investment Forum 2023
SHARJAH, UAE - Financial innovation and technology trends in global financial services sector were in the spotlight during a panel...
- Fintech and traditional financial institutions are intertwined and depend on each other.
- Fintech reaches populations who may not have access to traditional banking system.
Business
TECOM reports $0.54bn revenue
The group maintained a healthy debt profile.
- The results showed strong demand for the Group's commercial and industrial properties, supported by Dubai's strong macroeconomic environment
- Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 15 percent year-on-year to $0.36 billion
Business
Aldar posts net profit of $0.84bn
The company's revenue in 2022 rose to $3.04bn.
- The company announced a Q4-2022 net profit of $0.27 billion, up 28 percent YoY
- The company's revenue in 2022 rose to $3.04 billion, up 31 percent YoY
Business
Industries Qatar’s profit surges
The company saw a 9 percent increase in its net profit.
- The company's board recommended cash dividend of QR 1.1 per share, equivalent to 110 percent of the nominal value of the share
- Incorporated as a Qatari joint stock company on April, 19, 2003, Industries Qatar has a share capital of QR 6,050 billion
Geostrategy
Bahrain loses state immunity bid in spyware lawsuit in UK filed by dissidents
According to Saeed Shehabi and Moosa Mohammed, Bahrain infected their computers with FinSpy spying software, allowing agents access their data.
- According to Saeed Shehabi and Moosa Mohammed, Bahrain infected their computers with FinSpy spying software, allowing agents access their data
- The software also allows users to enable microphones and cameras on electronic gadgets to perform live surveillance and monitor their whereabouts
Economy
Foot-and-mouth variant hits Iraq buffaloes, threatening livelihoods
This strain - never before recorded in Iraq - is resistant to the vaccines normally used in the country, leaving...
- The severe, highly contagious livestock disease has plagued Iraq for decades, but this year's outbreak has already had a devastating impact
- Laboratory tests have identified the SAT2 variant of the viral disease, the United Nations' Food and Agriculture Organization (FAO) said
Most Read
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
Standard & Poor’s affirms Saudi Arabia’s ‘A/A-1’ credit rating
Riyadh, Saudi Arabia – Standard & Poor's (S&P) affirmed the Kingdom's credit rating in local and foreign currency at "A/A-1"...
Economy
Company News
Latest News
From the Ashes: Saudi film inspired by true events set to premiere on Netflix
Riyadh, Saudi Arabia - "From the Ashes," a Saudi film inspired by true events, is poised to debut on Netflix...
Arts & Culture
EU reaches agreement on reforming bloc’s migration laws
Spain, which chaired the lengthy negotiations in its role holding the EU presidency, said on X, formerly Twitter: "A political...
Saudi Arabia introduces unified platform for visas, including Hajj, Umrah
Riyadh, Saudi Arabia - Saudi Arabia on Tuesday introduced 'KSA VISA,' a unified visa platform aimed at streamlining visa application...
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Research
79% UAE employees think digital skills crucial for success
Dubai, UAE – About 79 percent of UAE employees believe digital skills are crucial for business success, and 84 percent...
- The survey included over 5,500 working adults from the UAE, France, Germany, Ireland, Italy, Sweden, Switzerland, the Netherlands, and the UK
- A significant 81 percent of UAE employees also believe that businesses should actively foster the development of AI skills in their workforce.
Economy
Saudi Arabia eyes $13 billion from media sector
Riyadh, Saudi Arabia - Saudi Arabia aims to increase the media sector's economic contribution, targeting a GDP share of 47...
- In 2022, Saudi Arabia's media sector surged to SAR 17.4 billion ($4.6 billion), commanding 30% of the market share in the MENA region.
- The growth trajectory has been primarily propelled by a a tech-savvy consumer base, marked by a surge in demand for local content
Business
UAE, Oman, Qatar seen as top 2024 property investment destinations
Dubai, UAE – Oman, Qatar, and the United Arab Emirates, particularly Dubai, have secured top positions for residential property investment...
- Dubai has long been the main attraction for overseas property investors, renowned for its luxurious real estate offerings
- The trend underlines the region's appeal as a reliable investment haven, especially amid cooling property markets in Europe and North America