Business - TRENDS MENA

This was a record 28% jump in annual net profit.

DUBAI, UAE - The World Bank raised its global growth forecast for 2023 to 2.1 percent (in June 2023) from...
The World Bank expects global growth to reach 2.4 percent in 2024, compared to 2.7 percent in January 2023.
The possibility of widespread banking disruptions and tighter monetary policy may also lead to weaker global growth.
Dubai, UAE -- Non-institutional foreign investors increased their ownership in Tadawul-listed equities, excluding Saudi Aramco, to SAR 310.80 billion ($82.87...
The ownership of non-institutional foreign investors is represented by swap agreements, residents, and qualified foreign investors (QFIs).
Foreign investors’ ownership, including strategic partners, in Saudi equities, excluding Saudi Aramco, fell from 12.19 percent to 12.17 percent, or SAR 356.96 billion, for the week
NEW YORK, US - US securities regulators sued Coinbase on Tuesday, alleging that the cryptocurrency platform's failure to register as a securities...
"Since at least 2019, Coinbase has made billions of dollars unlawfully facilitating the buying and selling of crypto asset securities," said the SEC.
SEC said Coinbase's failure to register "has deprived investors of significant protections, including inspection, record-keeping requirements."
Despite improvement in cost-to-income ratio, net profit sees only a marginal rise of 2.7% QoQ to $4.61bn due to slower...
Return on equity declined by 67 bps QoQ to 15.2%, while return on assets (RoA) remained stable at 2%. Total operating income saw a modest increase of 4.1% QoQ
Asad Ahmed, A&M Managing Director and Head of Middle East Financial Services, said, “We consider the Saudi banks’ capital position to be strong.”
The event on Jun 14 aims to sell more than 2 million tons of high-quality CORSIA carbon credits registered with...
An auction held by RVCMC last year at Future Investment Initiative (FII) in Riyadh was then the largest-ever auction with 1.4 million tons of carbon credits sold.
RVCMC was established by PIF and Tadawul Group to help MENA businesses play their role in the global transition to zero neutrality.
Dubai, UAE -- A total of 30 startups were attracted to Dubai by the Dubai Chamber of Digital Economy in...
The chamber has also launched a series of 10 interactive workshops for the private sector focusing on specific areas of the digital economy.
The chamber aims to attract 300 new digital startups in the coming years. As part of these efforts, the chamber will host the Expand North Star Summit in October.
Hanoi, Vietnam-- With an eye on boosting trade and economic ties between the two countries, the UAE has formally begun...
Al Zeyoudi's visit also marked the start of negotiations towards a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Vietnam
The UAE minister also spoke at the UAE-Vietnam Business Forum, in addition to meeting with representatives of Vietnamese companies
Dubai, UAE-- Airline industry is expected to clock net profits in the region of $9.8 billion in 2023, which is...
According to IATA, some 4.35 billion people are expected to travel in 2023, which is closing in on the 4.54 billion who flew in 2019 around the globe
The outlook for cargo volumes is upbeat too, expected to touch 57.8 million tonnes, which slipped below the 61.5 million tonnes carried in 2019
Abu Dhabi, UAE - Foreign companies and other non-resident juridical persons will be subject to UAE Corporate Tax on income...
The tax applies to both immovable property that is used in a business and the one that is held for investment purposes
Non-resident juridical persons with UAE immovable property will be subject to Corporate Tax on a net-income basis
With a 22% stake, it is now the biggest stakeholder in the firm.
The raising of the stake in Taaleem represents the largest acquisition of its kind since its listing on the Dubai Financial Market in November 2022
National Bonds Company CEO said the upping of the stake highlights the company's commitment to supporting the education sector in the UAE