Saudi Arabia real GDP grows 1.1 percent in Q2 2023
RIYADH, SAUDI ARABIA - The real GDP of Saudi Arabia grew by 1.1 percent in the second quarter of 2023,...
Economy
Proton says will analyze VPN sign-ups to identify attacks on democracy
GENEVA, SWITZERLAND - Internet privacy company Proton announced Wednesday a new VPN Observatory, tracking demand for its services to detect attacks...
Business
Business
Saudi Arabia tops region’s maritime connectivity progress
Saudi Arabia has scored 70.68 on the Maritime Connectivity Index.
- The global index measures the level of interdependence of the world's ports with shipping line networks quarterly
- It aims to help countries identify challenges and find opportunities to develop and improve their performance in the field of logistics services
Business
Qatar Islamic Bank net profit jumps 14 percent to $692m
Qatar Islamic Bank has said that its net profit for the first nine months of 2021 has jumped 14 percent...
- The Islamic lender made impairment provisions of 1.19 billion riyals for the period ended 30 September 2021
- Total income for the period was 6.12 billion riyals compared with 5.96 billion riyals for the same period in 2020
Videos
10 worst passports in the Middle East
Which passports are among the worst in the Arab World? Know the details in this Explainer video created by TRENDS.
- Iraq, Syria, Yemen, Palestine and Libya figure in the list. But which one is at the bottom?
- Sudan, Lebanon, Jordan and Egypt are also listed, the latest Henley Passport Index highlights.
Business
ACC of Saudi Arabia expects a rebound in business
Arabian Centres Company (ACC), the Saudi mall operator, is expecting an improvement in the business in the wake of the...
- “ACC will continue to operate in accordance with the updated government guidelines"
- The company has 21 commercial centers and complexes in its portfolio
Business
Dubai’s consumer confidence index jumps to 10-year high
Dubai’s consumer confidence index rose to its highest level in a decade during the third quarter of 2021, the Dubai...
- The positive sentiment has been fueled by increased economic activity
- Most consumers in Dubai are now feeling positive about current and job prospects
Business
Savola Group of Saudi Arabia buys out Bayara for $260m
Savola Group of Saudi Arabia has bought out the Emirati snack maker Bayara Holding for $260 million.
- The transaction, paid in cash according to a stock exchange filing, was part of a five-year strategy to expand Savola’s regional operations
- Bayara is a major manufacturer and distributor of branded snacks in the UAE and the Kingdom
Business
Al Dahra opens five animal feed plants
The plants are located in Serbia, Romania and Bulgaria.
- The new plants have a capacity of 500,000 tonnes per annum of clover and more than 15 types of feed and concentrated grains.
- The firm recently added some 11,000 hectares of clover to its existing plants in Romania.
Economy
Innovations in focus as Gitex Global begins
Artificial Intelligence, 5G, cloud, big data, cybersecurity, blockchain, quantum computing, Fintech and immersive marketing remain key focus of the five-day...
- A series of conferences and workshops will also be organised on the sidelines of the five-day exhibition.
- Gitex Global Leaders Vision will take a look at UAE 50, Saudi Vision 2030 and transformative projects in GCC.
Business
SABIC stock leaps up to 7-year high, trades at SR134.60
For the first time in nearly seven years, the stock of Saudi Basic Industries Corporation (SABIC) has touched its highest...
- The stock is currently trading up just under 1 percent, with trading exceeding 500,000 shares so far
- Today’s rise has pushed the stock up a staggering 120 percent since March 2020
Business
Work on $6.5 billion green hydrogen project in NEOM to begin in H1 2022
The work on a $6.5 billion green hydrogen plant in Saudi Arabia's planned futuristic city NEOM is likely to begin...
- ACWA Power expects to finalize financing in Q1 2022. The project is a joint venture with NEOM Co. and American industrial gas company Air Products.
- The plant will need around 4.3 GW of clean energy to power it and ACWA plans to use solar in the day and wind in the night.
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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
Saudi Arabia real GDP grows 1.1 percent in Q2 2023
RIYADH, SAUDI ARABIA - The real GDP of Saudi Arabia grew by 1.1 percent in the second quarter of 2023,...
Economy
Company News
Union Properties’ profit rises
Business
Latest News
We are helping Lebanon to deal with economic challenges: Blinken
The United States Secretary of State Antony Blinken said the US is supporting Lebanon through its incredibly challenging economic issues.
Geostrategy
UAE GDP grows 18.8% at current prices in 2021, says federal body
The centre’s data showed that non-oil GDP at constant prices grew by 5.8 percent to $0.33 trillion in 2021, compared...
Economy
Air passengers number up, reveals global aviation meet in Dubai
Some of the greatest minds in the aviation industry took to the stage at this year’s Global Aviation Conference in...
Business
Most Read
Geostrategy
UAE, France, India share vision on sustainable growth: Sheikh Abdullah
New York, USA - UAE, France and India have discussed the need for enhancing global cooperation to counter energy and...
- Foreign ministers of the three countries reviewed it as they met on the sidelines of UNGA's 77th session.
- The three ministers discussed enhancing global cooperation in facing issues like energy and food security.
Business
Binance gets MVP license from Dubai virtual assets authority
Dubai, UAE--Binance, the leading global blockchain services provider, said Tuesday it has received the Minimal Viable Product (MVP) license from...
- The transition to an MVP License from a provisional license means Binance can open a client money account with a domestic bank and benefit from new services.
- It can offer services to qualified retail and institutional investors in Dubai within its internationally benchmarked legislative framework for virtual asset service providers.
Business
Dubai realty market records realty deals worth $435m Tuesday
Dubai, UAE--- Dubai real estate market recorded realty deals worth AED 1.6 billion ($435 million) on Tuesday, according to Dubai...
- These included 439 sales transactions worth AED1.25 billion, in addition to 66 mortgage deals of AED240.64 million, and 72 gift deals amounting to AED175.81 million.
- On Monday the market recorded 392 sales transactions worth AED900.8 million, in addition to 84 mortgage deals of AED741.14 million.