stc Group inks several pacts
The pacts were signed at the PIF’s Private Sector Forum.Company News Business Economy
PIF launches Saudi Coffee Company
The Public Investment Fund (PIF) today announced the launch of the Saudi Coffee Company. The company is established to enable...The launch of the Saudi Coffee Company aligns with PIF’s strategy, which focuses on developing and enabling 13 promising sectors
The Saudi Coffee Company’s primary goal is to ensure the national coffee industry is enabled along its entire value chain, from bean to cup
Tech titans curb hiring in a ‘challenging macro environment’
From e-commerce colossus Amazon to social networking star Facebook, US tech firms that once grew with abandon have reined in...Twitter confirmed that it has flat-out suspended hiring, and even showed a few senior executives the exit, as it faces a takeover by Elon Musk, the richest person on the planet.
Amazon, the second largest employer in the United States, revealed that its ranks are overly plump after ending last year with more than twice as many workers as it had in 2019.
GCC firms should focus on digital change: QIB chief
Bassel Gamal, the Group CEO of Qatar's second-largest bank, tells TRENDS that leaders should empower their employees to make decisions."Today, all GCC economies are recovering from the pandemic thanks to higher oil prices, supporting government spending and normalizing business activity."
"The leadership has shifted towards a more collaborative approach, fostering teamwork, productivity, innovation and creativity."
Aramco Q1 profit up 82%
Surge in oil prices benefited the world's most valuable company.Aramco's net income of $39.5 billion was up from $21.7 billion in 2021, "primarily driven by higher crude oil prices and volumes sold, and improved downstream margins."
The latest financial results were published four days after Aramco dethroned Apple as the world's most valuable company, with shares worth $2.42 trillion
Talent war biggest business challenge: CBD head
Commercial Bank of Dubai CEO Dr. Bernd van Linder tells TRENDS that today’s business leaders must not only be consummate...“Although I have always been a firm believer in participative leadership, it is clear to me that business leadership is now less hierarchical and involves even more participation.”
“To drive innovation, one of the key measures that leaders need to focus on is to encourage employees to take risks without the fear of failure.”
UAE, Saudi stock markets slide as inflation concerns rise
The UAE and Saudi stock exchanges posted losses this week, taking cue from the world markets that fell in reaction...Saudi Stock Exchange index fell by 4.1% to finish the week at 12835.30 points
Dubai and Abu Dhabi stocks faced losses this week
G7 criticizes India for its decision to ban wheat export
India, the world's second-largest wheat producer, said that factors including lower wheat production and sharply higher global prices because of...India on Saturday banned wheat exports without prior government approval after recent scorching temperatures hit production
However, exports could also take place if New Delhi approved a request by other governments "to meet their food security needs"
Dubai’s hi-tech vision dazzles investors
Dubai is developing an environment that encourages firms from all industries to innovate. Already, the UAE is home to one-third...Dubai is developing an environment that encourages firms from all industries to innovate
Dubai has been able to leverage its strengths as a world-class city to attract global blockchain entrepreneurs
Dubai: Monaco of the region with a difference
The final quarter of 2021 provided a major boost to Dubai hotel results, with properties surpassing even 2019 figures across...Overall, UAE hotels raised $408 million in revenue between December 15 and the end of January 2022, with Expo and the second World's Coolest Winter campaign as key catalysts.
Dubai has beaten popular holiday destinations such as London, Bali, and Rome to become the most popular destination for 2022.
Ukraine’s key IT sector booming despite Russian invasion
Ukraine's IT sector is booming despite the Russian invasion. Workers with stickers on their laptops recline on beach chairs outside...companies transferred servers to secure locations and established back-up systems outside the country before Russia invaded on February 24
When Russian bombing started, IT companies shut offices in the capital Kyiv and eastern city of Kharkiv
