Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...
Economy
UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn
Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...
Business
Business
ADQ, Orion to establish JV
The partners commit to deploying $1.2bn in the next four years.
- The JV will make strategic investments in the metals and mining sector to enhance supply chain security locally and globally.
- The joint venture will invest in a diverse range of metals and minerals in various geographies, focusing initially on emerging markets in Africa, Asia and Latin America.
Business
Alpha Dhabi acquires interest in NCTH
The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.
- It acquired the 73.73% controlling interest after selling assets from Alpha Dhabi Hospitality Holding and Murban Energy Limited to NCTH in exchange for shares.
- The deal Alpha Dhabi Holding’s investment in the domestic and international luxury hospitality sector and involves the transfer of four key hotel assets.
Business
Meraas awards construction contract
The $272m contract has been awarded for Bluewaters Bay.
- The contract is aimed at creating Dubai’s next iconic waterfront destination, with completion scheduled for Q4 2027, the company said.
- Bluewaters Bay will feature two residential towers linked by a dynamic podium, offering 678 apartments, ranging from one to four bedrooms, including penthouses.
World Economic Forum
Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria
Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...
- The upcoming centers in Muscat, Pretoria, and Riyadh will tackle critical global challenges with innovative solutions tailored to national and regional needs.
- Additionally, the WEF announced that the C4IR United Arab Emirates has been renewed.
2025 IT Security Predictions
Cloudflare, a leading connectivity cloud company recently published an Op-Ed by Grant Bourzikas, CSO, tackling IT security predictions for 2025
- Hyper-focus on “digital transformation” over the past few years has left security in the dark
- As disinformation continues to plague society, it will begin to trickle into AI models
GCC equity markets ended 2024 in positive territory
Five of seven GCC equity market indices under coverage ended 2024 on the rise, according to an in-depth report on GCC equity...
- DFM led its peers, wrapping up 2024 with an annual rise of 27 percent
- GCC traded values rose at an annualized rate of about 29 percent in 2024,
Geostrategy
18 Palestinians killed in Israeli strikes on northern, southern Gaza
Palestinian news agency (WAFA) reported that eight Palestinians were killed, and others were injured in an airstrike by the Israeli...
- In Khan Younis, in southern Gaza Strip, six Palestinians were killed, and others were injured in an airstrike by the Israeli forces targeting a building in the city center.
- Moreover, three Palestinians, including a woman, were injured when Israeli aircraft bombed a school sheltering displaced people northwest of Nuseirat in central Gaza Strip.
Business
NDMC arranges $2.5bn credit facility
The Shariah-compliant facility spans a tenure of three years.
- It is aimed at financing the general budgetary needs and was secured with the participation of three regional and international financial institutions.
- The arrangement of these credit facilities aligns with the Kingdom's medium-term public debt strategy, aimed at diversifying funding channels.
Business
Abu Dhabi’s Hub71 startups secure $1.90 billion in funding, says CEO
Abu Dhabi, UAE -- Startups within Hub71, Abu Dhabi's global tech ecosystem, have secured over AED 7 billion in funding,...
- The ecosystem is now hosts over 300 startups from around the world and has forged 150 partnerships to support these companies in attracting investments.
- Ahmad Ali Alwan, CEO of Hub71, said it has received over 2,500 applications for its programmes.
Business
Saudi Arabia’s non-oil exports surge by nearly 23% in Sept 2024
Riyadh, Saudi Arabia -- Saudi Arabia's non-oil exports surged by 22.8 percent in September, according to a report by the...
- The September 2024 International Trade Report said national non-oil exports, excluding re-exports, rose by 11.6 percent.
- The report also indicated a 14.9 percent decline in merchandise exports in September 2024 compared to September 2023.
Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...
Economy
Company News
ADNOC L&S 2024 net profit $756m
Business
Latest News
UAE ranks first in Arab world, 11th globally in Global Knowledge Index
Qatar was at the 38th place, Saudi Arabia at 40, Kuwait (48), Oman (52), and Bahrain (55) in the Global...
Oman sees hospitality industry revenue fall 3.5%
The National Centre for Statistics and Information says domestic guest have supported the Oman's hotels.
Cyclone Shaheen kills four in Oman; UAE, Saudi on alert
Tropical Cyclone Shaheen bore down on Oman on Sunday, killing at least three people, and authorities urged residents to evacuate...
12 die in Saudi Arabia from Covid as infection lingers
Twelve people have died in Saudi Arabia from COVID-19, taking the total count of people having succumbed to the disease...
Saudi officials seize a big load of drugs at border with Jordan
A consignment of two million illegal pills was seized by the Saudi authorities along the kingdom’s border with Jordan. The...
Borouge 2024 net profit $1.24bn
Business
ADQ, Orion to establish JV
Business
Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria
Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...
World Economic Forum
2025 IT Security Predictions
Cloudflare, a leading connectivity cloud company recently published an Op-Ed by Grant Bourzikas, CSO, tackling IT security predictions for 2025
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Geostrategy
18 Palestinians killed in Israeli strikes on northern, southern Gaza
Palestinian news agency (WAFA) reported that eight Palestinians were killed, and others were injured in an airstrike by the Israeli...
- In Khan Younis, in southern Gaza Strip, six Palestinians were killed, and others were injured in an airstrike by the Israeli forces targeting a building in the city center.
- Moreover, three Palestinians, including a woman, were injured when Israeli aircraft bombed a school sheltering displaced people northwest of Nuseirat in central Gaza Strip.
Business
NDMC arranges $2.5bn credit facility
The Shariah-compliant facility spans a tenure of three years.
- It is aimed at financing the general budgetary needs and was secured with the participation of three regional and international financial institutions.
- The arrangement of these credit facilities aligns with the Kingdom's medium-term public debt strategy, aimed at diversifying funding channels.
Business
Abu Dhabi’s Hub71 startups secure $1.90 billion in funding, says CEO
Abu Dhabi, UAE -- Startups within Hub71, Abu Dhabi's global tech ecosystem, have secured over AED 7 billion in funding,...
- The ecosystem is now hosts over 300 startups from around the world and has forged 150 partnerships to support these companies in attracting investments.
- Ahmad Ali Alwan, CEO of Hub71, said it has received over 2,500 applications for its programmes.