Dubai airport clocks record 92.3 million passengers
A record 92.3 million passengers travelled through Dubai's international airport last year, its operator said on Thursday, extending a post-pandemic...Business
Morgan Stanley sees upswing in MENA M&A deal volumes and values
After a challenging year where M&A activity in the Middle East and North Africa took a tumble, Morgan Stanley forecasts...Business Uncategorized
Renault shares fall as sales disappoint
The company's strategy is to sell fewer cars but at higher prices.Sales grew 7.6 percent to 10.5 billion euros ($11 billion) as a drop in volume was offset by price increases for its vehicle lineup
But investors were not impressed as company shares fell more than seven percent in morning trading in the Paris stock exchange
EU launches enquiry on Meta and TikTok over disinformation
The European Union has built a powerful armory to challenge the power of big tech with its landmark Digital Services Act...The European Commission said it had sent formal requests for information to Meta and TikTok in what is a first procedure launched under the EU's new law on digital content.
Meta and TikTok have until October 25 to respond, with a deadline of November 8 for less urgent aspects of the demand for information.
Kadi Pay okayed for BNPL solutions
The company was approved by the Saudi Central Bank.With Kadi Pay, six authorized companies are now offering BNPL solutions in Saudi Arabia, bringing the total number of licensed/ permitted finance companies to 56.
The BNPL solutions provide finance to customers wishing to buy products and services without incurring financing costs.
Israel-Gaza conflict won’t impact Riyadh FII summit outcome: CEO
Riyadh, Saudi Arabia -- The tragic developments in Gaza won't have a huge impact on the overall outcome of the...Richard Attias. brushed aside the fears of slowdown in investment in the region due to the ongoing Israel-Palestinian conflict.
He said that most investors take a long-term view, so the ongoing war won't have big impact on the overall investment climate.
Women break barriers for gender equality in finance
This culture should recognize and value the contributions of women and prioritize their growth and development. By highlighting successful women...In the financial sector, diverse teams enhance decision-making and performance, yet women occupy just 10% of CEO roles in Fortune 500 companies
Emirati women constitute 31% of the UAE's finance sector workforce, underscoring the crucial role of mentorship and role models in advancing their careers.
Saudi Metrology Organization, Enterprise Singapore ink MoU on standardization
RIYADH, SAUDI ARABIA – The Saudi Standards, Metrology and Quality Organization (SASO) and Enterprise Singapore signed an MoU here, focusing...The pact encompasses cooperation and the exchange of best practices and experiences in metrology, calibration and safety of consumer products.
The MoU includes provisions for training, capacity building and collaboration in the development of infrastructure for standards and quality.
Turkey’s Atis Yapi opens Dubai office
This is the real estate giant's first office in the UAE.This follows signing of agreements and MoUs worth $50.7 billion between UAE President Sheikh Mohammed bin Zayed Al Nahyan and his Turkish counterpart Recep Tayyip Erdoğan in July.
Atış Yapı said it is set to develop a modern and competitive portfolio of residential and commercial projects in the UAE.
FAB net profit up $3.4bn in 9M 2023
The bank reported total revenue of $5.6 billion.The bank reported total revenue of $5.6 billion, marking a 38% year-on-year growth
The return on tangible equity improved to 18.3%, with Group CET1 reaching 14.2% as of September 2023
Saudi Arabia’s economy to grow 3.2% from 2023-2026: Moody’s
Riyadh, Saudi Arabia -- Saudi Arabia’s economy is expected to grow by 3.2 percent on average between 2023 and 2026,...The National Debt Management Center quoted the agency's forecasts that the non-oil sector will be strong in the coming year.
The Saudi government, according to Moody's, is making progress in implementing its comprehensive reform program.
ACWA Power signs deals
It entered into seven solar, hydrogen agreements in China.It signed the agreements, in solar energy, green hydrogen and water desalination, with Chinese firms during the third Belt and Road Forum held in Beijing
Chairman of ACWA Power said the agreements further advance the company's common interest of developing projects that support positive climate ambitions.
