58% of firms in Saudi Arabia plan to outsource cybersecurity
RIYADH, SAUDI ARABIA - Company bosses are boosting their cybersecurity following an alarming increase in cyberattacks, a new study commissioned...
Business
EDB commits US$350m for renewable energy projects in developing countries
ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator...
Business
Business
Saudi stocks post gains in early trading as oil prices decline
Saudi stocks posted gains in the early hours of trading on Sunday due to a dip in the prices of...
- Arabian Mining Co, known as Ma'aden, gained 6.92 percent to top the gainers in early trading after posting a profit of SR5.23 billion ($1.4 billion) in 2021
- Aramco, the largest player in the Saudi oil market, gained 0.97 percent.
Economy
Bahrain provides unemployment benefits to 31,099 people in 2021
Bahrain government has provided unemployment benefits to 31,099 citizens in 2021, according to the country’s Labor Minister Jameel bin Mohammed...
- Unemployment benefit has not been discontinued for any beneficiary who meets the eligibility conditions, said the country's Labour minister Jameel bin Mohammed Ali Humaidan.
- Amendments have been made to the Unemployment Insurance Law to keep pace with the economic requirements of Bahraini jobseekers, he said.
Economy
Saudi Arabia has stable food stocks, says agriculture minister
Saudi Arabia has taken steps to maintain the stability of domestic supply in accordance with the food security strategy.
- Abdul Rahman Al-Fadli said Saudi Arabia’s food commodity markets had not experienced any supply shortages
- The country has been ranked one of the world’s best in terms of food abundance, added the agriculture minister
Business
The Blockchain Opportunity
Are regional governments ready to adopt blockchain technology to boost business payments, transactions, interbank payments and corporate dealings?
- Adopting blockchain is likely to boost financial transactions, interbank payments and corporate dealings in the region
- From banking to healthcare, blockchain business applications are transforming the way data is stored, and accessed
Economy
Bahrain’s Growth Dynamics
Bahrain has a $90 per barrel breakeven oil price, so the country is moving forward with serious economic diversification plans...
- Bahrain has a $90 per barrel breakeven oil price, so the country is moving forward with serious economic diversification plans
- The economy of Bahrain has particular strength in the financial services and technology sectors and related industries
Why are you cutting costs and how?
While restructuring should be a regular part of economic and business cycles, what’s happening in the GCC region is just...
- Global slowdown has led to volatile oil prices, businesses, geopolitical tensions and a pullback in government spending
- Key industries in the GCC from construction and retail to logistics and energy are feeling the strain of lower-than-expected growth rates
Business
Humanity vs Technology
Artificial intelligence and machine learning are stirring as much of a concern about job security as they are steering efficient...
- Artificial intelligence and machine learning are stirring as much of a concern about job security as they are steering efficient outcome strategies.
- About 84 percent of investors will rather depend on the human touchpoint of financial advisors than rely on automated investment technologies, says a survey
Business
Do structural reforms attract FDI?
As regional bourses aim to compete with developed markets, questions are also being raised over the state of reforms, the...
- Most countries in the GCC have embarked upon a tremendous raft of regulatory improvements
- A key factor of reform and regulation and attracting FDI into the region is investor confidence
Economy
Professor Roubini on Global and Regional Economies
Artificial intelligence, machine learning, robotics and automation will define the future of jobs, says renowned economist Professor Nouriel Roubini
- Artificial intelligence, machine learning, robotics and automation will define the future of jobs, says renowned economist Professor Nouriel Roubini
- There's a wide range of geopolitical uncertainties in the Middle East that can affect the economy, markets, and energy prices, adds Roubini
Business
Adnoc arm inks storage deal
AG&P will use an Adnoc L&S vessel as a floating storage.
- The agreement is valid for 11 years, with the option of extension by 4 years
- The two parties have a 2021 agreement to provide another FSU in India
58% of firms in Saudi Arabia plan to outsource cybersecurity
RIYADH, SAUDI ARABIA - Company bosses are boosting their cybersecurity following an alarming increase in cyberattacks, a new study commissioned...
Business
Company News
Multiply Group buys 80% of IEH
Business
Latest News
Arada awards two contracts
Business
Anaam to raise US$42m
Business
UAE president issues new law on regulation, development of industry
The law which will come into effect from January 2023 aims to increase UAE’s attractiveness as investment destination.
Economy
Crises augment EU-GCC energy & security cooperation
Josep Borrell, the EU High Representative for Foreign Affairs and Security Policy, points out that since the Ukrainian crisis, an...
Interview
COP27: ACG to give $24bn for climate action by 2030
The fund will support the acceleration of the energy transition, the increased resilience of food, transport, water and urban systems,...
Geostrategy
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Business
UAB posts $32.39 million net profit
Third quarter operating income grows by 4 percent.
- In a statement, the bank said the growth in net profit is a result of improved operating performance and lower expected credit losses.
- The bank returned to profitability due to the execution of an effective strategy, said Sheikh Faisal bin Sultan bin Salem Al Qassimi, Chairman of the Board of Directors UAB.
Economy
Abu Dhabi to host World Islamic Economic Forum in 2024
Launched in 2005 by the WIEF Foundation, the WIEF is a global platform created to promote and discuss the latest...
- Launched in 2005 by the WIEF Foundation, the WIEF is a global platform created to promote and discuss the latest economic developments
- The Forum strengthens dialogue, exchanging of ideas and knowledge between senior government officials, academics, and business leaders from around the globe
Business
Dana Gas net profit up 64%
The company reported net profit of $161m for 9M of 2022.
- In a bourse disclosure, the company said the gross revenue for the same period increase by 24 percent year on year to AED1.521 billion ($415 million).
- The gains in profit were driven by higher realized prices, “prudent cost control and strong operational performance in the Kurdistan Region of Iraq (KRI)”, the filing said.