‘Digital transformation levels the playing field for GCC small businesses’
Digitalization is revolutionizing GCC entrepreneurship, offering vast opportunities and challenges, and driving innovation and growth, Jigar Sagar, an influential figure...
Business
Canon Middle East, Dubai Business Women Council launch ‘Women Who Empower’ campaign
Canon Middle East and DBWC launch the 'Women Who Empower' campaign, offering training and opportunities for women in imaging and...
Arts & Culture
Business
Ardian, Mubadala Capital announce $2.1bn private equity partnership
New York, USA - Ardian, a world leading private investment house, and Mubadala Capital, the asset management arm of Mubadala...
- The two companies have built a strong relationship since forming a successful initial partnership in 2017
- They have curated a portfolio of ten limited partnership interests with a leading group of General Partners predominantly in North America and Europe
Geostrategy
Libya’s Dbeibah defends extradition of alleged Lockerbie bomber
Dbeibah has come under heavy criticism from political opponents and rights activists since the extradition. Abu Agila Mohammad Masud, 71,...
- Libyan leader has come under heavy criticism from political opponents and rights activists since the extradition
- In a speech broadcast on national television, said Masud was "responsible for the bomb-making cell
Economy
Saudi inflation rate eases to 2.9 percent in November
Housing rents rose by 5.4 percent, bringing the overall housing, water, electric, gas, and other fuels increase to 4.7 percent.
- Housing rents rose by 5.4 percent, bringing the overall housing, water, electric, gas, and other fuels increase to 4.7 percent
- In the last couple of months, food prices rose by 3.6 percent while transport costs have increased by 4 percent
Business
Altawkilat, Saudi auto distributor expanding into UAE
ALTAWKILAT is one of the largest automotive distributors in Saudi, with over 75 years of experience.
- ALTAWKILAT is one of the largest automotive distributors in Saudi, with over 75 years of experience
- It will open its first facility in Abu Dhabi in January 2023, followed by Dubai and Sharjah
Economy
UAE bank investments up to $132bn by September end
According to CBUAE's figures, debt securities accounted for 49.5 percent of these investments, hitting $66 billion.
- According to CBUAE's figures, debt securities accounted for 49.5 percent of these investments, hitting $66 billion
- Held-to-maturity-securities comprised 38.9 percent, or $51 billion of the total investments
Economy
Gulf central banks raise interest in line with US Fed’s rate hike
The Saudi Central Bank, known as Sama, the Central Bank of Bahrain and Qatar Central Bank upped their interest rates...
- The Saudi Central Bank, known as Sama, the Central Bank of Bahrain and Qatar Central Bank upped their interest rates by 50 basis points
- The Central Bank of the UAE (CBUAE) earlier Wednesday raised the Base Rate applicable to the Overnight Deposit Facility by 50 basis points
Geostrategy
Saudi Arabia, Britain sign Defence Cooperation Plan
The plan reaffirms the UK’s enduring commitment to working with Saudi Arabia on promoting regional security and stability.
- The plan reaffirms the UK’s enduring commitment to working with Saudi Arabia on promoting regional security and stability.
- It also aims to develop the capabilities of the Saudi Ministry of Defense, localize military industries, and strengthen the partnership between the two countries
Economy
AI-powered mobile app for crop disorder detection launched in Dubai
Called Dr. Nabat, the application is a result of collaboration between ICBA and the University of Barcelona.
- Called Dr. Nabat, the application is a result of collaboration between ICBA and the University of Barcelona
- The application is designed to aid smallholder farmers and extension specialists in spotting crop disorders at early stages
Economy
UAE economy maintains momentum in 2022: OPEC
The report cited recent economic indicators suggesting strong growth has been maintained in most activities.
- The report cited recent economic indicators suggesting strong growth has been maintained in most activities
- The tourism sector, which accounts for around 6% of the UAE’s GDP, experienced strong growth, the report said
Economy
Qatar posts budget surplus of $8bn in third quarter
Doha, Qatar - Qatar posted a budget surplus of QR 30 billion ($8 billion) for the third quarter of 2022,...
- Total revenues for this quarter amounted to $22 billion, of which $21 billion came from oil and gas
- Total expenditures in the quarter amounted to $14 billion, of which $4 billion was spent on salaries and wages
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
‘Digital transformation levels the playing field for GCC small businesses’
Digitalization is revolutionizing GCC entrepreneurship, offering vast opportunities and challenges, and driving innovation and growth, Jigar Sagar, an influential figure...
Business
Company News
Latest News
Aster to separate its India and GCC businesses
Dubai, UAE - Aster, an integrated healthcare provider, is separating its India and GCC businesses, subject to regulatory and corporate...
Business
UNGA resolution calls upon Israel to withdraw from the occupied Golan Heights
United Nations - The UN General Assembly adopted a resolution calling upon Israel to withdraw from the occupied Golan Heights,...
Geostrategy
UAE to invest $20-25 bn in cash-strapped Pakistan
Abu Dhabi, UAE - The UAE and Pakistan recently sealed a significant deal, potentially injecting between $20 to $25 billion...
Economy
Most Read
Business
Ooredoo, QNBN sign agreement
The two companies will jointly develop Doha Port.
- The agreement represents a strategic partnership and reflects a commitment to driving innovation to build a more connected Qatar.
- Qatar National Broadband Network was established to implement the highest global standards in evolving telecommunication infrastructure.
Economy
Saudi banks see moderate improvement in margins in Q3: report
Riyadh, Saudi Arabia - Operating income of Saudi banks increased by 2.9 percent QoQ, majorly due to net-interest income (NII)...
- Top 10 lenders demonstrate resilience with a 2.9 percent quarter-on quarter (QoQ) increase in operating income, fueled by robust net interest income growth
- Moderated credit growth is anticipated in Q4’2023, underscoring a positive economic outlook, driven by non-oil sectors and sustained government spending
Business
$128 billion in US company deals during Dubai Airshow: US Ambassador
Abu Dhabi, UAE - Martina A Strong, the US Ambassador to the UAE revealed on Monday that American companies secured...
- Martina A Strong underlined the UAE's significance as a market for American companies, highlighting the presence of over 1,500 American businesses
- The companies are drawn to the UAE's strategic location, its pro-business environment, and its gateway to burgeoning regional markets, she noted