MENA print media revenues fell 30% from 2018 to 2022: survey
The report stresses the urgent need for MENA news organizations to overhaul business models, adopt digital strategies, and diversify content...Business Tech & Media
Saudi tech firm Alat to ally with Softbank, Carrier Corp, Tahakoum, Dahua Tech
Riyadh, Saudi Arabia - Alat Company, a subsidiary of the Saudi Public Investment Fund (PIF), has announced four global partnerships...Business
Sulaiman Group’s profit soars
The hospital operator's profit jumps to $210m in H1 of 2022The company's revenue posted 16 percent jump to $1.06 billion for the six months period ended 30th June 2022
The hospital operator's board recommended distributing $80 million in dividends at SR0.86 per share during the second quarter of 2022
Pacts boost presence of Saudi-made products on market shelves
Saudi authorities have signed agreements with big retail stores in the kingdom to promote the ‘Made in Saudi Arabia’ program,...Under the agreements, signed by Saudi Exports Development Authority, large stores allocate platforms and outlets for Saudi-made goods.
Saudi products displayed in some retail stores in the local markets amount to account for 70 percent of more than 128,000 items.
Web 3.0 to further revolutionize digital banking
Forward-leaning financial institutions are ready to seize strategic opportunities to secure their stake in the future of Web 3.0. Right...Banks globally are going digital, embracing new technologies and these institutions in GCC countries are following this trend
There have been many reports about Web 3.0 and its benefits for the banking sector and its clients
Pfizer to make $5bn acquisition
US drugmaker is in talks to buy Global Blood Therapeutics.Pfizer, according to media reports, hopes to conclude talks with Global Blood Therapeutics within days
GBT's sickle-cell treatment is administered to people with blood disorder that affects millions
Qatar records 19% jump in international tourist arrivals
Qatar has seen a nineteen percent increase in tourist arrivals with 729,000 visitors coming to the country in the first...In June alone some 149,000 visitors came to the country, marking the highest arrivals in the summer month in the last 5 years
Qatar will unveil some 50 hotels by the end of the year, besides launching several tourism attractions such as kite beach resorts and Lusail Winter Wonderland
Union Properties’ profit rises
The Dubai-based firm posted net profit of $77,603 in Q2.The developer merged three of its existing business units to improve efficiency and productivity across the business,
Union Properties expects improvement in profitability through efficient resource and asset utilization, economies of scale and cost rationalization
GCC investors turn to realty to hedge against inflation
The real estate sector in the Gulf region is set to accelerate in the second half of the year as...The real estate sector in the region is set to accelerate in the second half of the year as regulations effectively mitigate the market cycle swings, especially during inflation
Local real estate prices will be less high for foreign investors than other global markets as local inflation rates are significantly lower than the rest of the world, say experts
GCC stocks rise amidst US-China tension
The performance of the Gulf stock exchanges varied this week, affected by several factors and events, most notably the tension...The performance of the Gulf stock exchanges varied this week affected by several factors and events
The visit of US House Speaker Nancy Pelosi to Taiwan and the tension between the United States and China affected the stock market
Dubai Chambers gets new CEO and President
Dubai Chambers has announced a leadership change, with Hamad Buamim, President and CEO, moving on after 16 years of service....He replaced Hamad Buamim, who was the President and CEO of Dubai Chambers for past 16 years.
Under Buamim, the membership of Dubai Chambers by over four times from 80,000 to over 320,000.
Turkey to pay for some Russian gas in rubles, says Erdogan
President Recep Tayyip Erdogan has confirmed that Turkey will start paying for some of its Russian natural gas imports in...Neither Erdogan nor Russian officials have said what portion of the gas will be covered by ruble payments
Russia accounted for about a quarter of Turkey's oil imports and 45 percent of its natural gas last year
