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....
Business
Saudi non-oil exports increase by 17.8 percent in second quarter
Riyadh, Saudi Arabia -- Saudi Arabia’s non-oil exports rose by 17.8 percent in the second quarter of 2025, according to...
Economy
Business
Potential investors value Telegram at $30bn, says co-founder Pavel Durov
MOSCOW, RUSSIA – The Telegram is valued by potential investors at more than US$30 billion, the co-founder of the social...
- The US$30 billion valuation was made by global technology funds in particular, Durov said.
- The Telegram will consider the sale of a portion of shares to its standing users, the businessman added.
Economy
Situation in Red Sea has a limited impact on food exports so far, says FAO
ROME, ITALY – The situation in the Red Sea has not yet been reflected in the pace of prices for...
- The decline in the Food Price Index in February 2024 was led by a decrease in the price for cereals and vegetable oils.
- The route via the Red Sea accounts for slightly more than 10 percent of the global maritime trade volume.
Business
EIC to pay $22m dividend
The company's board had decided 15% cash dividend for H2 2023.
- The company had reported a 113 percent increase in net profit to SAR 201 million in 2023, compared to 94 million a year ago.
- The increase in net profit was attributed to an increase in sales from SR 1.066 billion to SR 1.559 billion
Business
UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...
- This will help enhance the competitiveness of the national maritime sector, promote its attractiveness to international investors.
- This strategic expansion aims to position the UAE as the premier logistical partner for global trade and further consolidate its leadership in the lindustry.
Business
DMCC registers 2,692 new companies in 2023, its second-best year on record
Dubai, UAE -- A total of 2,692 new companies joined Dubai Multi Commodities Centre (DMCC) last year, bringing the total...
- The launch of new industry ecosystems, the expanded service offerings and the physical growth of the Uptown Dubai district boosted the performance.
- DMCC said it accounted for 11 percent of Dubai’s total FDI inflows and cemented its status as a global hub for trade in commodities like diamonds and precious stones.
Business
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
- During the first two months of 2024, India, the US, Saudi Arabia and Iraq accounted for the majority of ACI’s exports.
- The chamber's exports to the US surged during the first two months of 2024 to about US$297 million compared to US$275 million.
Business
Saudi Tourism Authority, Trip.com Group sign global agreement
BERLIN, GERMANY – Saudi Tourism Authority (STA) and Trip.com Group have announced a significant global partnership, which will drive greater...
- The joint effort aims to bring over 350 thousand additional tourists to Saudi over the course of the agreement.
- The partnership is vital as it coincides with exceptional growth and transformation in the global tourism industry.
Business
UAE launches first legally established financial ombudsman unit
Abu Dhabi, UAE – Sanadak, UAE's and MENA region's first legally established independent Ombudsman Unit catering to consumers of financial...
- Sanadak's focus is on safeguarding consumers rights and resolving complaints that arise from dealings with financial institutions and licensed insurance companies.
- Sanadak reduces the need to take claims to courts and judicial authorities, thereby bolstering consumer confidence and elevating the protection of financial consumer rights.
Business
Burjeel Holdings net profit up
The company’s 2023 annual revenue rises to US$1.2 billion.
- The group continued to implement its geographic expansion strategy with the launch of the PhysioTherabia rehabilitation network in Saudi Arabia.
- It opened eight new centers in March 2024 in Riyadh, Jeddah, Dammam, Khobar, and Yanbu which significantly expanded its geographical reach.
Business
Over 105m people visit Dubai Mall in 2023
DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...
- Figures also showed a staggering 20 million people visited the mall in the first two months of this year alone.
- The mall's events and promotions in 2023 and the beginning of 2024 were a key driver of its foot traffic.
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....
Business
Company News
Latest News
MENA Brief | June 19: GCC central banks hold interest rates steady, Diriyah House launched in London
As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington,...
Geostrategy
MENA Brief – June 16: Netanyahu eyes Gaza breakthrough, Iran rejects talks, Trump at G7, UAE oil giant bids big
Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal...
Economy
MENA Brief June 14: Iran-Israel War, Abu Dhabi Summit, Saudi Football Rise, & More
Tensions spiked as Iran fired ballistic missiles at Israel in retaliation for Israeli air raids that killed senior Iranian military...
Geostrategy
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Geostrategy
MENA brief Jun 11: Umrah returns, ADGM surges, Abu Dhabi property market up
China has extended visa-free entry for up to 30 days to citizens of Saudi Arabia, Oman, Kuwait, and Bahrain—boosting bilateral...
- Mashreq Bank’s debut $500 million sukuk listed on Nasdaq Dubai under its $2.5 billion program offers a 5.03 % profit yield.
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Economy
From Iran Talks to Dubai Metro: Key Middle East Developments You Need to Know on June 10, 2025
Key developments across the Middle East today highlight regional diplomatic, economic and humanitarian trends
- Sheikh Mohammed launches 30km expansion featuring world's highest metro station (74m) to serve growing population
- After 12-year exclusion, Damascus prepares to reconnect to global banking network to formalize trade
Economy
Key MENA trends: M&A surge to five-year high, Saudi port activity rises in May
Qatar's foreign reserves rise 3.6 percent year-on-year despite a dip in bonds and treasury holdings, Iraq releases Australian and Egyptian...
- Egypt and Turkey continue their coordination on ceasefire efforts and humanitarian aid, as diplomatic momentum struggles against on-ground escalation.
- The ICRC has warned that the healthcare system is on the brink of collapse, with medical infrastructure under increasing strain from ongoing hostilities.