Shell annual profit drops to US$19.4bn
Its revenue dived almost a fifth percent to US$316.6 billion.Business Energy
Rise of GenAI boosts phishing threats during holidays
The sophistication of GenAI-driven phishing attacks requires robust security, including advanced DDoS protection and proactive cyber resilience strategies, says an...Business Tech & Media
Gulf insurance set to cross $31bn mark by 2026
The market is expected to grow at an annualized growth rate of 3.2 percent, from $26.5 billion in 2021 to...UAE's GWP share is predicted to rise at a CAGR of 4.1% between 2021 and 2026
A CAGR of 1.6% is predicted for Saudi Arabia thanks to Vision 2030 infrastructure plans
The annual Sharjah Heritage festival to kick off in March
Armenia will be the official guest of honor this year due to its rich and diverse cultural stock, while Indonesia...The Sharjah Institute for Heritage (SIH) announced that the festival’s slogan will be "The Heritage and the Future"
A total of 33 countries would participate in the event including Saudi Arabia, Oman, Kuwait and Qatar from GCC
Turkey slashes sales tax on food items as inflation surges
Turkish President Recep Tayyip Erdogan on Saturday slashed sales tax on dairy products, fruit, vegetables and other basic food items...The rising cost of living has become a major source of public discontent in Turkey, where it is expected to feature prominently in next year's presidential election
Inflation hit 48.69 percent in January, the highest level since Erdogan's Islamic-rooted party stormed to power two decades ago
Saudi Tourism hires Radisson Blu to run a four-star resort
Radisson Blu has been hired to manage and operate a new four-star resort with retail stores in Al-Ahsa governorate.The property will be developed by the Saudi Tourism Development Fund and the Abdul Latif Al Abdul Latif Hotel Group
The project's annual gross domestic product is expected to be as much as SR42 million ($11.2 million)
Saudi hiring of foreign domestic workers leaps up 15%
Saudi Arabia has recruited more than 75,000 overseas domestic workers in December 2021, a fifteen percent jump in the hiring,...New contracts for workers in domestic-facing roles exceeded 76,000 in December 2021, compared to 69,000 in November and 65,000 in October
Bangladesh topped the list of countries of workers recruited into Saudi Arabia during the month of December with more than 12,000 contracts
ADNOC Distribution posts net profit of AED2.2bn for 2021
ADNOC Distribution has reported that its EBITDA stood at AED 3.1 billion, with net profit of AED2.2 billion for 2021.For the fourth quarter of 2021, EBITDA was AED802 million, while net profit stood at AED571 million
ADNOC Distribution saw quarter-on-quarter growth in total fuel volumes in 2021, with an increase of 4% in the fourth quarter compared to the third
DP World to give ₤1 mn to two Earthshot Prize finalists
DP World’s has announced ₤1 million investment to two Earthshot Prize Finalists, designed to scale their work in the UAE...The Innovation Showcase profiled the ground-breaking solutions from the 2021 Earthshot Prize finalists
Prince William lauded the DP World's gesture during his visit to Middle East
Kuwait launches 2nd edition of initiative for youngsters’ business
Kuwait's Youth Authority on Saturday, February 12, launched the second edition of the ‘professional initiator’ programThe program aims to diversify productivity, helping young citizens launch startups in the private sector
It is also expected to provide more opportunities for medium and small enterprises at different levels
Dubai saw $1.8bn real-estate transactions last week
A total of 2,078 real-estate transactions worth AED6.6 billion ($1.8 billion) were conducted in Dubai during the week ending February...A total of 280 plots were sold for AED1.42 billion ($386.66 million), according to official data
Meanwhile, 1,275 apartments and villas were sold for AED2.54 billion ($691.63 million)
IHC reports $3.08bn profit
The company posted an all-time-high annual revenue in 2021.IHC’s total revenue grew 303 percent in 2021 to AED 28.3 billion ($7.71 billion)
This beat its previous year’s revenue record of AED 7 billion ($1.91 billion)
