Saudi Crown Prince announces new company to boost Kingdom’s global tech status
Riyadh, Saudi Arabia — Saudi Crown Prince Mohammed bin Salman on Thursday launched a new company called Alat geared to...Business
Number of millionaires in BRICS likely to rise by 85 percent in 10 years, says report
DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire...Business Economy
SABIC profit surges to $2.1bn
The Saudi firm's net profit was fueled by higher sales volume.Analysts had predicted a 23-percent decrease in profit along with a 25.7 percent surge in sales
SABIC Agri-Nutrients, which posted a 262 percent rise in quarterly profit, also beefed up the company’s performance
IHC H1 profit surges to $3bn
The company slew of acquisitions helped its earnings.The performance across all IHC subsidiaries has resulted in a strengthening of the conglomerate’s balance sheet
The company's strategic acquisition of companies in H1 2022 had a positive impact on the organisation's net worth
Apple to open outlet in Riyadh
The firm will sell its full range of products and spare parts.The Saudi investment minister Khalid Al-Falih told media that said several international companies, including Google, Alibaba, Microsoft and IBM, intend to invest in the kingdom
The minister said that investments will be coupled with the development of human resources through partnership of these companies with academies, universities and training centers
Mubadala to buy Canada Cartage
Canada Cartage provides national fleet solutions.Canada Cartage has a wide network of 33 facilities across Canada and has two business segments, Dedicated Transportation and Logistics
Mubadala's Head of Private Equity Adib Martin Mattar said Canada Cartage operates in a sector in which "we have significant expertise, which is business services"
Global disruptions shift focus to new work models
Organisations can either view recent global disruptions such as Covid-19 pandemic as a death sentence or as a chance to...A large proportion of businesses across the world have felt the damaging effects of the Covid-19 pandemic
Recent research has revealed that 87 percent of small business owners have lost money over the last two years
Challenger banks struggle for market share in GCC
Net sentiment for traditional banks is higher than those for challenger banks as the former have a long history in...Net sentiment for traditional banks is higher than those of challenger banks as the former have a long history in the market and have proved to be trustworthy and reliable.
Today consumers expect speed, efficiency and reliability from banks. The digital revolution also creates an opportunity to increase financial inclusion in the Gulf region
Qatar Chamber to promote investment in country during world cup
Qatar Chamber would issue a guide to economic and commercial activities in Qatar 2022, aiming to promote its economy and...Qatar Chamber General Manager Saleh bin Hamad Al Sharqi stressed the promotion of economy and investment climate.
Bin Hamad noted FIFA WC 2022 is a key opportunity to introduce the Qatari economy and the advantages of investment in Qatar.
World’s biggest chocolate plant restarts after scare
The plant, which supplies industry giants such as Hershey but not to consumers directly, was shut down after salmonella bacteria...Zurich-based Barry Callebaut said it halted shipments and informed clients in time to prevent contaminated chocolate making its way to shops.
It identified lecithin, added to smooth food textures, as the source of the contamination, prompting weeks of extensive cleaning.
UAE foreign ministry, ECI sign MoU to promote trade, investment
The Ministry of Foreign Affairs and International Corporation (MoFAIC) and Etihad Credit Insurance (ECI), the UAE's federal export credit company,...MoFAIC and ECI agree to work together to position the UAE as an ideal destination for trade and investment
They will highlight the UAE's stable and secure environment, investor-friendly legislation and advanced trade finance infrastructure
Tie-ups with UAE helps boost Indian farm exports by 31 percent
Buyer-seller meets in the UAE on agricultural and food products with registered geographical indication (GI) tags, a week-long mango festival...Buyer-seller meets in the UAE on agricultural, food products with registered geographical indication tags helped boost India's exports
A week-long mango festival in Bahrain, and an international buyer-seller meet in Ladakh attended by buyers from Dubai and Oman also helped
