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Saudi Aramco says foreigners grab ‘majority’ of share offering

Riyadh, Saudi Arabia - Oil giant Saudi Aramco said Sunday that international investors had snatched up the bulk of shares sold...

UBS-Credit Suisse merger completed

The fallen Credit Suisse AG legally ceases to exist.

Amazon to invest $17bn in Spain  

The investment will be made in data centers in Aragon region.

Microsoft unveils ‘AI-ready’ PCs

The company's pivot to AI has been celebrated by Wall Street.

TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

KSA, UAE lead GCC in maritime trade

Saudi Arabia is planning to invest US$36bn in logistics and aims to become a regional hub for the shipping sector,...

GCC: Public-private partnership to boost healthcare

From 2018 to 2022, the private-sector healthcare spending is forecast to increase at a cumulative annual growth rate (CAGR) of...

Region’s private equity market set to revive

The region’s industry executives are working hard to improve the dented image and put the sector back on track by...
  • Bahrain-based Investcorp Holding, the region’s biggest private equity and alternative asset manager, is looking for fresh deals after the pandemic made companies cheaper to buy
  • Globally, the PE firms manage about US$3 trillion of capital for various investors but in Middle East, they manage a nominal US$18 billion

New technology rejigs Gulf maritime sector

Real time data coupled with effective supply chain technology came in handy for the industry after the aviation sector was...
  • The GCC countries have been making investments in integrating supply value chains with digital platforms and upgrading their technologies to keep pace with the latest developments
  • Real time data coupled with effective supply chain technology came in handy for the industry after the aviation sector was grounded following the spread of COVID-19 globally

Riyadh, Dubai compete for business of news

Prominent media houses that have announced plans to move their base from Dubai to Riyadh include the state-owned Al Arabiya...
  • The proposed media city is coming up on an area of 60,000 sq m at Al Safarat (Diplomatic Quarter) in Riyadh
  • The MBC Group, the largest media company in the Middle East, was established in Britain in 1991 and moved to Dubai in 2002

$250bn GCC rail project on track after hiccups

The project linking the six GCC countries is expected to boost exports, diversify mode of transportation and reduce carbon emissions...
  • Once the project is completed in the GCC, the developers plan to link the railway line with the ones in Jordan, Syria and Turkey and connect to Europe from thereon.
  • GCC Railway project not only benefits the six countries economically but attracts investments, both local and foreign

Saudi mega power plant still seeking takers

The Ras Al Khair plant produces 1.05 million cu m of desalinated water per day and generates 2.65 GW of...
  • Saudi Arabia was planning to sell 60 percent stake in the Ras Al Khair plant and raise $2 billion
  • However, bidders backed out after considering several factors, including the plant’s age and its waning technology

GCC insurance firms battle pandemic woes

It has been a roller coaster ride for insurance companies in the GCC countries and the health care sector since...
  • Experts see up to 40 percent rise in premiums in the next two to three years.
  • Abu Dhabi-based Daman Insurance looking at new markets such as Kuwait and Bahrain.

Assets under GCC SWFs grow 10% to US$2.77trn

The SWFs of Abu Dhabi, Kuwait and Qatar have underpinned the resilience of their sovereign ratings despite lower oil prices...
  • The combined assets under managements of the GCC sovereign wealth funds rises to US$2.77 trillion
  • The UAE has five sovereign wealth funds with a combined total asset of US$1.2 trillion

IMF’s SDR allocation to benefit rich MENA nations

The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves.
  • The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves
  • SDR allocations will help most vulnerable countries struggling to cope with the impact of the COVID-19 crisis

GCC in hot pursuit of 2050 emission goals

The GCC nations are looking at the $500-billion market for Green Hydrogen by 2050, but will it be enough?
  • IRENA says GCC countries need to invest up to $148 billion each year until 2050 to meet the goals of the Paris agreement
  • DNV expects clean-energy expenditure to increase by around 70 percent between 2019 and 2030 to $1.9tn

HNWIs drive up luxury car sales in Gulf region

Being home to most of the high net-worth individuals in the Middle East, Saudi Arabia, the UAE and Qatar are...
  • Porsche Middle East and Africa’s successful implementation of new retail strategy helps in achieving the targets in Q1 2021.
  • GCC governments are committed to increasing sustainability by reducing carbon emissions.

KSA, UAE lead GCC in maritime trade

Saudi Arabia is planning to invest US$36bn in logistics and aims to become a regional hub for the shipping sector,...

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Riyadh, Dubai compete for business of news

Prominent media houses that have announced plans to move their base from Dubai to Riyadh include the state-owned Al Arabiya...

$250bn GCC rail project on track after hiccups

The project linking the six GCC countries is expected to boost exports, diversify mode of transportation and reduce carbon emissions...

Saudi mega power plant still seeking takers

The Ras Al Khair plant produces 1.05 million cu m of desalinated water per day and generates 2.65 GW of...

Most Read

Assets under GCC SWFs grow 10% to US$2.77trn

The SWFs of Abu Dhabi, Kuwait and Qatar have underpinned the resilience of their sovereign ratings despite lower oil prices...
  • The combined assets under managements of the GCC sovereign wealth funds rises to US$2.77 trillion
  • The UAE has five sovereign wealth funds with a combined total asset of US$1.2 trillion

IMF’s SDR allocation to benefit rich MENA nations

The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves.
  • The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves
  • SDR allocations will help most vulnerable countries struggling to cope with the impact of the COVID-19 crisis

GCC in hot pursuit of 2050 emission goals

The GCC nations are looking at the $500-billion market for Green Hydrogen by 2050, but will it be enough?
  • IRENA says GCC countries need to invest up to $148 billion each year until 2050 to meet the goals of the Paris agreement
  • DNV expects clean-energy expenditure to increase by around 70 percent between 2019 and 2030 to $1.9tn