Pakistan encouraging US-Iran talks but says ‘time is of the essence’
Pakistan is continuing to play a behind-the-scenes diplomatic role between the United States and Iran as tensions remain high over...
Geostrategy
UK withdraws Tehran embassy staff as Trump weighs Iran strikes; JD Vance says “no chance” of long war
Reports suggest some of Trump’s advisers would prefer Israel to initiate any strike, calculating that American public opinion would be...
Geostrategy
Business
Lulu Retail Q3 profit $35m
For the nine-month period, net profit increased by 73.3%.
- In its first financial update since its record IPO on ADX, the company posted a revenue growth in Q3 2024, reaching $1.86 billion, up 6.1% YoY.
- The UAE saw strong revenue growth of 7.5% in Q3 2024, mainly driven by healthy LFL growth of 4.7% during the quarter.
Business
Salik 9M net profit $223m
The company's third-quarter profit increased by 8.8 percent.
- Salik reported 355.6 million revenue-generating trips, which increased 5.1 percent YoY to drive total revenue of AED1.640 billion.
- Revenue from toll usage, comprising 86.7 percent of total revenue, rose 5.1 percent YoY to AED1,422.2 million in the nine-month period.
Arts & Culture
Two falcons sell for $81,300 at Saudi Falcons Club Auction
Riyadh, Saudi Arabia - Two falcons were sold for a combined total of $81,300 (SAR305,000 ) on the tenth night...
- On its tenth night, the Saudi Falcons Club Auction saw two falcons sell for over $81,000, underscoring the nation’s dedication to cultural preservation.
- The Saudi Falcons Club Auction highlights cultural heritage, with top falcons fetching impressive bids as part of Saudi Vision 2030.
Geostrategy
Global Future Councils meet calls for collective action to tackle global crises
Over 500 experts gathered at the World Economic Forum Annual Meeting of the Global Future Councils 2024 in Dubai to...
- Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs of the United Arab Emirates, said, “The only constant conviction we recognize every day is that nothing remains stable.”
- Sessions also explored novel approaches needed to tackle emissions while ensuring an equitable and socially responsible transition
Business
Deals worth $4.26 billion signed at inaugural Global Logistics Forum
Riyadh, Saudi Arabia -- More than 65 agreements and Memoranda of Understanding worth SAR 16 billion were signed at the...
- The forum was attended by more than 130 experts and leaders in the global transport and logistics sector, as well as 13,000 visitors.
- Among the attendees were over 15 ministers and 77 leaders in the transport and logistics industry from more than 30 countries.
Business
OPEC lowers 2024 oil demand forecast, citing robust non-OECD activity
According to the organization's October report, the total world oil demand is anticipated to reach 105.6 mb/d in 4Q-24, to...
- According to the monthly publication, oil demand in the Middle East is expected to expand by an average of 265 tb/d, y-o-y, in 4Q-24.
- Refinery capacity additions in non-OECD countries – mostly in China and the Middle East – are also expected to contribute to oil demand growth.
Economy
Sub-Saharan Africa: Nigeria takes #2 spot in global crypto adoption
Sub-Saharan Africa accounts for the global cryptocurrency economy’s smallest share, representing 2.7% of transaction volume worldwide between July 2023 and...
- Between July 2023 and June 2024. Sub-Saharan Africa received around US$125 billion in on-chain value
- About 70% of African countries face an FX shortage, and businesses struggle to get access to the dollar
Geostrategy
North Korea shows first photos of banned uranium enrichment site
North Korea for the first time showed images of the centrifuges that produce fuel for its nuclear bombs on Friday,...
- North Korea is believed to have several sites for enriching uranium
- The country may have produced enough fissile material to build up to 90 nuclear warheads: July report
‘Visa-free entry for GCC nationals will enhance business collaboration’
In an interview with TRENDS, CEO of ITCN Asia, Muhammad Umair Nizam highlights the expanding role of Pakistani IT firms...
- ITCN Asia offers a platform for stakeholders to collaborate, uniting government and industry leaders for discussions on key tech issues, CEO Muhammad Umair Nizam said
- Pakistan’s software services industry have stood out, with companies offering cybersecurity solutions, virtual reality for military and everyday use, he added
Economy
Central & Southern Asia and Oceania region leads the world in cryptocurrency adoption
The fifth annual Chainalysis Global Crypto Adoption Index looks at both on- and off-chain data to determine which countries are...
- This year, crypto activity increased across countries of all income brackets
- Central & Southern Asia and Oceania accounted for over $750 billion in crypto asset inflows
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
Pakistan encouraging US-Iran talks but says ‘time is of the essence’
Pakistan is continuing to play a behind-the-scenes diplomatic role between the United States and Iran as tensions remain high over...
Geostrategy
Company News
Latest News
Red Sea Global opens Shura island with three world-class resorts accessible to all
Tabuk, Saudi Arabia - Red Sea Global announced the opening of the first resorts and attractions on Shura Island, which...
Economy
Sharjah records 361 percent growth in capital investment in H1
Sharjah, UAE -- The Sharjah FDI Office (Invest in Sharjah) has announced an exceptional increase in foreign direct investment during...
Business
Most Read
Business
Borouge to pay $660m H1 dividend
Its net profit for H1 was $474 million.
- The company also reaffirmed its intention to pay a total dividend of 16.2 fils per share for 2025.
- Since its June 2022 IPO, Borouge shareholders have approved $4.24 billion in dividends.
Business
Global passenger demand grows 4% in July: IATA
GENEVA, 31st August 2025 (WAM) -- The International Air Transport Association (IATA) said Sunday that global passenger demand grew by...
- Total capacity, measured in available seat kilometers (ASK), was up 4.4 percent year-on-year.
- Capacity was up 5.8 percent year-on-year, and the load factor was 85.6 percent (-0.4 ppt compared to July 2024).
Business
UAE continues to attract major global companies for new headquarters
Dubai, UAE -- The United Arab Emirates has continued to attract global companies looking to establish regional or global headquarters....
- This trend is supported by the country's legislative and digital infrastructure, as well as its strategic location.
- A report from the Kearney Foundation ranked the UAE second among emerging markets in its "FDI Confidence Index 2025."