Economic outlook brightening but political risks loom large in 2024, say chief economists
Geneva, Switzerland – The latest Chief Economists Outlook released on May 29 presents a growing sense of cautious optimism about...
Economy
Ajman seeks strategic alliances at Arabian Travel Market 2024
Ajman, UAE - The Arabian Travel Market 2024 (ATM) kicks off in Ajman from May 6 to May 9, celebrating...
Business
PIF, Cosco buy stake in Red Sea Gateway Terminal for $280 million
The investment will help to transform RSGT into both a regional and global logistics hub in line with PIF’s mission...
Assad starts new term after re-election described ‘neither free nor fair’
The vote extending Assad's grip on power was the second since the start of a decade-long civil war that has...
Pilgrims arrive in Mecca for second hajj of Covid-19 pandemic
Up to 60,000 Muslims residing in Saudi Arabia are allowed to take part in this year's hajj, evoking the envy...
After conquering Earth, Bezos eyes new frontier in space
His journey into space aboard a reusable rocket built by his firm Blue Origin comes just two weeks after he...
Qatar re-opens for fully vaccinated international travellers
The new arrangements will also make it easier for citizens and residents of Qatar to travel in and out of...
Biden to host Iraqi PM at White House on July 26
The meeting will "highlight the strategic partnership between the United States and Iraq," the White House said in a statement
France announces aid conference for Lebanon as Hariri quits bid to form govt
Lebanon faced yet more misery Friday after the failure of premier-designate Saad Hariri to form a government, and as France...
Saudi hosts vaccinated pilgrims for 2nd downsized hajj
The kingdom seeks to repeat last year's success that saw no virus outbreak during the five-day Muslim ritual.
Saudi, UAE reach deal over oil output quotas
Major OPEC producers Saudi Arabia and the United Arab Emirates have reached a compromise in a standoff over crude output...
UN warns of ‘perfect storm’ as childhood vaccination plummets
A full 23 million children missed out on basic childhood vaccines last year, as routine health services were hit by...
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
Economic outlook brightening but political risks loom large in 2024, say chief economists
Geneva, Switzerland – The latest Chief Economists Outlook released on May 29 presents a growing sense of cautious optimism about...
Economy
Company News
DIB to buy stake in TOM Group
Geostrategy
Latest News
FBI completes Rainbow Bridge car explosion, says it was traffic accident
According to witnesses, the car was running at a speed of more than 160 km/h. As a result, the car...
UAE company secures African land the size of the UK for carbon offset projects: report
Dubai, UAE - Blue Carbon, a Dubai-based company has secured expansive forested land across several African nations, a CNN report...
Business
World Bank anticipates 4.5% growth in UAE’s non-oil economy in 2023
Riyadh, Saudi Arabia - The World Bank has projected a 3.4% growth in the real Gross Domestic Product (GDP) of...
Economy
Most Read
Economy
UAE approves official holidays calendar for govt, private sectors for 2024
UAE, Dubai - UAE has approved the year 2024 official holidays calendar for both public and private sectors. As part of...
- The resolution aims to enable all community members working in various sectors in the UAE, as well as families, to plan ahead for holidays, travel and personal activities
- The UAE public holidays calendar includes 12 Rabi` al-Awwal 1446 AH which marks the Prophet Mohammed’s (PBUH) birthday, and 2, 3 December as the National Day holidays in 2024
Business
Yalla 9M revenue at $237.9m
The results underscore the firm’s robust financial performance.
- The company's net margin remained exceptionally high at 41.4 percent, highlighting its strong monetization capabilities.
- Yalla's average monthly active users experienced significant growth, surging by 13.6 percent to 35.1 million in Q3 2023.
Business
DTC sets IPO offer price range
Final offer price will be fixed through a book-building process
- The company announced that the offer price range had been set between US$0.49 (AED1.80) and US$0.5 (AED1.85) per share.
- This implies a market capitalization at the time of listing of between US$1.2 billion (AED4.5 billion) and US$1.25 billion (AED4.6 billion).