Jordan sees decrease in number of tourists over Gaza war
Amman, Jordan -- Jordan has seen a decrease in the number of tourists visiting its famed ancient city of Petra...Business Economy
Microsoft valuation surges above $4 trillion as AI lifts stocks
Shares of Microsoft vaulted 5.3 percent after it reported $27.2 billion in quarterly profits as it touted massive investments in...Business Economy
Salik revenue soars to US$574m
Toll usage revenue rose 11.7% YoY to US$502million.The total number of trips made through Salik’s eight toll gates grew by 10 percent over the course of the year.
Salik’s registered active accounts increased 16.0 percent YoY to approximately 2.4 million at the end of 2023.
Dubai International Boat Show helps in marine business
DUBAI, UAE – Dubai International Boat Show has wrapped up following a hugely successful week of high-value boat sales, important...The exhibition is recognized as one of the most influential boat shows in the world.
The exhibition has wrapped up following a hugely successful week of boat sales.
Qatar and Egypt hold talks to ramp up civil aviation cooperation
Cairo, Egypt-- Qatar and Egypt have discussed enhancing ties in the field of civil aviation between the two countries.In this...The two countries signed a memorandum of understanding to increase air transport rights to Cairo International Airport
The agreement will facilitate the opening of new avenues of cooperation in the field of air transport between the two countries
Middle East emerges as a major player in global CEO appointments: report
Dubai, UAE - The Middle East has emerged as a prominent player in global CEO appointments, securing 68 out of a...Companies in the region boasting the highest global percentage of CEOs with prior C-suite experience, standing at an impressive 90 percent
Surprisingly, the Middle East also leads globally in terms of CEO age, boasting the youngest average CEO age at 54.5 years
89% of Saudi CEOs hopeful of kingdom’s economic growth over next 12 months
Riyadh, Saudi Arabia - About 89% of CEOs in Saudi Arabia are optimistic about the country's economic growth over the...A remarkable 71% of Saudi CEOs have observed a 5% or more increase in market share over the past three years, surpassing the global average of 49%
The Vision 2030 initiative, with its focus on reducing oil dependency, has propelled Saudi Arabia to the 17th largest global economy by GDP size in 2022
DIEZ profit jumps 64.6% in 2023
The market value of its net assets crossed US$5.66bn.DIEZ reported growth in earnings before interest, taxes, depreciation, and amortisation by 49.2 percent, alongside an 8.1 percent increase in total revenues
Economic zones affiliated to DIEZ have experienced substantial growth across six key sectors, which collectively represent 95 percent of total companies hosted.
Iraq economy likely to grow this year, says IMF
BAGHDAD, IRAQ – Economic growth of the country is projected to continue amid fiscal expansion, an International Monetary Fund (IMF)...Medium-term vulnerabilities to oil price volatility have increased significantly, the IMF said.
Growth in the non-oil sector has rebounded strongly in 2023 while inflation has receded.
GAS, SPPC ink two contracts
The duration of each contract is of 22 months.The two contracts entail the engineering, procurement and construction of Qassim and Taibah gas pipelines.
The first contract is valued at $90 million (SAR341.09 million), while the second is worth $68 million (SAR256.1 million).
Ooredoo, Nokia sign MoU
It will commit the two to sustainable innovation.The partnership between the two companies stems from their collaborative vision to foster a more environmentally-conscious industry
The CEO of Ooredoo said that the MoU is a cornerstone in their journey towards achieving the goals of Qatar’s National Vision 2030
Dubai’s real estate soars with notable market growth
The emirate's residential market witnesses an 18% sales surge and a 26% rental increase due to investor confidence and a...The emirate's residential market witnesses an 18% sales surge and a 26% rental increase due to investor confidence and a preference for larger homes.
The city's office market thrives, with rents surpassing pre-pandemic levels, reinforcing its role as a strategic regional hub for global corporations.
