Global challenges hit M&A activity in Middle East, GCC
Sovereign Wealth Funds emerge as pivotal players, driving economic diversification and strategic cross-border partnerships, says Riccardo Molinari of Bain &...Business Markets
Saudi solar company ALUPCO partners with Mexico-based Array technologies
Riyadh, Saudi Arabia - Saudi Arabian aluminum extrusion company Aluminum Products (ALUPCO) has entered into a strategic collaboration with Array...Business
Saudis beat the heat in City of Fog
The ‘City of Fog’ in Saudi Arabia’s rugged south is a prized destination for many in the kingdom looking to...At Al-Namas, humid monsoon weather keeps temperatures below 30 degrees Celsius, dropping as low as 15 degrees Celsius at night
Ministry of tourism figures show that Saudi families spent $21.33 billion on domestic travel last year, a 30 percent increase from 2019
Al Akaria posts profit in H1
The developer's profit rose to $4.3m, after last year's loss.Shored up by a 152 percent jump in revenues, the company's stock price climbed up as it returned to profitability,
The developer also incurred less expenses during the six-month period, thanks to a drop in selling and marketing costs by $320,000
UAE stocks generate strong cash flows Tuesday
FAB gained AED173.7 million in liquidity, closing at AED19.740, while ALPHADABI drew AED102.9 million, ending at AED24.040.FAB gained AED173.7 million in liquidity, closing at AED19.740, while ALPHADABI drew AED102.9 million, ending at AED24.040
The ADX-listed ADNOC Distribution was among big gainers, ending 1.09 percent higher at AED4.620, followed by ADNOC Drilling which closed 0.28 percent up at AED3.620
Most Arab clubs play hard to score financial surplus
Only five football clubs in the region — Al-Fateh, Al-Hilal and Al-Faisali of Saudi Arabia, as well as Morocco's Al-Wydad...Only five football clubs in the region — Al-Fateh, Al-Hilal, and Al-Faisali of Saudi Arabia, as well as Morocco's Al-Wydad and Nahdet Berkane —have reported budgetary excess
Almost all other remaining Arab clubs -- including Al-Nasr, Al-Ittihad and Al-Ahly -- have posted deficits, according to the latest report 'The Financial East of Arab Clubs'
Ban on single use plastic bags in Sharjah to begin from Jan 2024
Sharjah has banned single-use plastic bags and materials in the Emirate of Sharjah as of 1st January 2024. It follows...It follows Sharjah’s efforts of making an environment-friendly emirate and its supportive plans of conservation, said reports
The ban was decided during a meeting of the Sharjah Executive Council (SEC) Tuesday morning at the Sharjah Ruler’s office.
Jordan government committed to public-private engagement
The government is committed to expanding the management consulting services sector's participation in enhancing industrial production processes and facilitating access...Jordan's government views its partnership with the private sector as a cornerstone to achieve economic and social development
The ministry of industry, trade and supply's consulting council was established to formulate economic policy and legislation
Two new solar projects to double Qatar’s renewable energy output
Qatar on Tuesday announced two major solar projects that will more than double its energy output from the renewable source...The plants at Mesaieed and Ras Laffan will take Qatar's solar output to 1.67 gigawatts by the end of 2024, Qatar Energy said in a statement.
South Korean conglomerate Samsung will lead construction of the new solar plants, with an initial investment of more than $600 million.
Twitter failed to safeguard users’ personal data, claims ex official
Twitter misled users and federal regulators about glaring weaknesses in its ability to protect personal data, the platform's former security...Twitter's former security chief Peiter Zatko also accused the social media giant of significantly underestimating the number of automated bots on the platform.
The hacker-turned-executive Zatko, who goes by the nickname "Mudge," also claims that Twitter prioritizes growing its user base over fighting spam and bots.
Aldar says it recirculated $2.39bn into UAE economy through ICV
Aldar Properties said Tuesday that it has recirculated AED8.8 billion ($2.39 billion) to the local economy through In-Country Value (ICV)...The ICV aims to boost economic performance and support local industries by redirecting higher portions of public spending into the national economy.
In its sustainability report, Aldar said that Aldar Projects also signed development project contracts worth AED8.5 billion, including 16 contracts with UAE-based companies.
Sharjah records 2,417 real estate transactions in July 2022
Sharjah Real Estate Registration Department (SRERD) has revealed that total transactions carried out in July 2022 amounted to 2,417 transactions...The department's statistics reveal that Muwaileh Commercial area had the highest number of sales transactions in Sharjah,
SRERD monthly report showed that sales transactions were recorded at 24.3 percent
