Vodafone Q3 revenue dips
Poor display across Italy, Spain is said to be the reason for loss.Company News Business
Total M&A market drops to US$3.2trn in 2023, says report
DUBAI, UAE - The total M&A market dropped 15 percent, to US$3.2 trillion, the lowest level in a decade, as...Business Economy
GCC banks record 40% spike in profits to $35bn in 2021
The Gulf Cooperation Council’s banking sector profits recorded a 40 percent surge to hit $35 billion in 2021, a report...Despite the surge, profits remain below pre-pandemic levels of $37 billion in 2019
Surge in profits is mainly due to an increase in total bank revenue and a decline in loan loss provisions
Bahrain and stc to build region’s first data center park
Bahrain will build the region's first data center park in partnership with stc Bahrain to create an integrated digital center...The park will be developed on 55,000 square meters of land in Al-Qurain
The new establishment will contribute to Bahrain’s digital economy in line with the country's national Economic Vision 2030
Dubai Expo draws to a scintillating close
Dubai ended Expo 2020 with a colorful closing ceremony punctuated by fireworks as the UAE leadership vows to 'continue to...Six months after the delayed opening of the $7 billion, purpose-built site, Christina Aguilera, Nora Jones and cellist Yo-Yo Ma performed at the LCD-lit Al Wasl Dome
Expo, housed on a circular site twice the size of Monaco, has been a point of pride for Dubai's rulers and one of a number of projects aimed at grabbing world attention
FIFA heads for $7 billion revenues on the back of Qatar World Cup
FIFA is on target to reap record revenues of seven billion dollars on the back of this year's Qatar World...The governing body has seen revenues from television, sponsors and marketing take off despite past scandals and the coronavirus pandemic.
FIFA said in its accounts that it expects "television broadcasting rights to have set a new record" by the time of the World Cup final on December 18.
Soaring global urban tech market to benefit KSA: Mastercard report
The paper has shone a spotlight on how Saudi Arabia’s e-government, tourism, healthcare, and transit sectors stand to benefit from...The paper has shone a spotlight on how Saudi Arabia’s e-government, tourism, healthcare, and transit sectors stand to benefit from the smart city revolution in the Kingdom
The paper highlights 5G, Wi-Fi 6, cloud computing, virtual reality and geospatial technology as focus areas for digital infrastructure to develop cities
Regional brands may fill gaps in activewear market
Succeeding for a female entrepreneur in an industry dominated by men is a tough task but can be achieved, says...It was now or never for the Arab entrepreneur Nathaly Daou who launched her activewear brand NatUsual soon after 2020 Beirut blasts
Daou had to navigate many roadblocks to not only launch but protect the brand at a time when many went out of business
Tips for family businesses in private equity model
Unlike many family businesses, successful private equity owners do not wait and hope for everything to go according to plan. ...Private equity firms regularly update the overall strategy and plans of their portfolio companies based on transparently shared info about the business and the market changes.
Also, successful private equity owners always have a Plan B in place to respond to performance screwups and changes in the business environment quickly and decisively.
Saudi deposits $5bn in Egypt, plans to invest double: State media
The Egyptian and Saudi governments have signed a draft agreement for Saudi investments in the country totaling a projected $10...The announcements come as the North African country enacts a slate of financial measures to mitigate the economic fallout of Russia's invasion of Ukraine.
As the world's largest importer of wheat, Egypt relied on the two countries for 85 percent of its supply, as well as 73 percent of its sunflower oil.
Evergrande to sell stake
The developer would sell the Crystal City Project in Hangzhou for 3.66 bn yuan.Its total liability is now $300 billion as the company has struggled to repay its investors and bondholders.
The company has said said it would finish projects and deliver them to buyers in a desperate bid to salvage its debts.
German businesses urged to explore investment opportunities in Sharjah
The Sharjah Chamber of Commerce and Industry (SCCI) has called on German businessmen and investors to explore investment opportunities within...A German business delegation attended a forum organized by the Sharjah Chamber of Commerce and Industry.
Gulf Cooperation Council (GCC) countries are the seventh-largest export destination for German industry outside Europe.
