GASTAT issues FDI statistics of Saudi Arabia for Q4 2023
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) issued on Friday the Foreign Direct Investment (FDI) statistics for...Business Economy
Arab Bank for Economic Development in Africa expects financing to touch US$2.5bn
Abu Dhabi, UAE--The Arab Bank for Economic Development in Africa (BADEA) expects the bank's annual financing to reach US$2.5 billion...Business
L’Occitane shares nosedive
Shares dropped 29% after talks on taking the firm private called off.The firm, headquartered in Luxembourg and Geneva, said last month it was considering a possible take-private deal with an offer price of no less than HK$26 ($3.30) per share.
The group's portfolio includes L'Occitane en Provence, French beauty brand Melvita, Korean skincare line Erborian, and Elemis, a British care product brand
UAE looks to deepening trade relations with ASEAN bloc
Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, led the UAE delegation to Jakarta, Indonesia, the...Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, led the UAE delegation to Jakarta, Indonesia, the host of ASEAN Business and Investment Summit.
UAE and Indonesia agreed to work in unison to ensure they deliver on the projection of US$10 billion in bilateral non-oil trade within five years.
Arm seeks $52bn valuation
Arm is a world leader in designing chips that are used in smartphones.Arm's IPO is being closely watched by the financial markets, with large tech IPOs something of a rarity in recent months.
Tech giants including Nvidia, Apple, Samsung Electronics and Intel are interested in investing in Arm once the company is listed.
Saudi Arabia and Russia extend oil cuts, Brent crude price up
The Saudi production cut of one million barrels per day which first took effect in July will continue "for another...Brent crude rose above $90 per barrel on the news for the first time since November, while West Texas Intermediate, the main US futures contract, jumped 1.9 percent to $87.16.
Riyadh, the world's biggest crude exporter, first announced its cut after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia.
Saudi construction sector employs 3 million workers
GCC countries employ close to 20 million foreign workers, who are subject to vastly different conditions and wags compared to...The Gulf Cooperation Council countries have a high reliance on foreign labor. In 2020, foreign workers accounted for 60 percent of the total labor force.
GCC countries face high unemployment among nationals, shortage of skilled labor and a mismatch between the skills of nationals and the requirements of the labor market.
A glimpse into GCC’s financial evolution
As the winds of change blow, three major forces—regulation, consolidation, and digitization—are shaping the trajectory. These elements intertwine, creating a...Driven by regulation, consolidation, and digitization, the region's financial services sector is undergoing a pivotal transformation
Dive into the TRENDS Explainer video to understand and navigate the evolving landscape of the banking sector across the region
21 agreements and MoUs signed at Saudi-Italian Investment Forum
Milan, Italy -- The Saudi-Italian Investment Forum, jointly organized by the Saudi Ministry of Investment and the Italian Ministry of...The 21 MoUs and agreements signed during the Forum encompassed the sectors of energy, clean energy, healthcare, real estate, waste management, technology, and manufacturing.
In 2022, the non-oil bilateral trade value between the Kingdom and Italy reached approximately SAR 5.6 billion (1.4 billion Euros), demonstrating significant growth potential.
Microsoft gambles big on Hollywood-esque ‘Starfield’ video game
The ever-evolving game is the tech giant's bid to lock players into its Xbox subscription service after some eye-poppingly enormous...Reviews praise its epic scale, multitude of interactive stories, engrossing first-person combat and the way it conjured ersatz interactive versions of movie franchises "Star Trek".
Microsoft is currently trying to get a $75-billion purchase of another studio, Activision Blizzard, past regulators wary of rapid concentration in the sector.
Gaming industry posts exponential growth in Saudi Arabia: PayerMax COO
Riyadh, Saudi Arabia-- The gaming industry has witnessed exponential growth in Saudi Arabia with an average revenue per paying user...By the end of the decade, Saudi Arabia's Vision 2030 aspires to make the kingdom a global hub for gaming and esports
According to Essay Zhu, Partner & COO of PayerMax, the industry is rapidly evolving in the region, driven by technological advancements
Meeza, QNBFS sign agreement
The liquidity agreement is for Meeza's listed shares on QSE.The liquidity provision service is expected to start on September 7, 2023, according to a statement published on the QSE
Meeza, a Qatar-based venture, is helping speed up Qatar's growth through the provision of top-notch IT services and solutions
