Saudi insurance sector shows 14.6 percent growth in Q3 of 2023
RIYADH, SAUDI ARABIA- The Insurance Authority (IA) has issued its first report on the performance of the sector in the...Business Banking & Finance
Visitors flock to Sheikh Zayed Festival, boosting exhibitors’ sales
Abu Dhabi, UAE--Sheikh Zayed Festival is witnessing a large public turnout from citizens, residents and tourists from all over the...Business
GCC works from home with digitalization
The Covid-19 pandemic has been the primary driver of businesses and governments embracing remote-work opportunities.Some Arab governments have been significantly more proactive than others, especially in the GCC region
Only 16 percent of workers in the Middle East and North Africa believe that workplaces will revert to pre-epidemic levels
French hotel industry on its knees: Accor CEO
Sebastien Bazin, head of the world's sixth-largest hotel group, said on French radio station RMC that Accor currently lacks at...Sebastien Bazin, head of the world's sixth-largest hotel group, said on French radio station RMC that Accor currently lacks at least 2,000 employees in France
The hospitality industry in numerous countries has complained of difficulty rehiring staff and some employers are trying to lure workers with higher wages
Al Sadd releases Xavi
The Spanish legend may now return to Barcelona.Xavi has so far led Al Sadd to the 20-2021 QNB Starts League title, and the 2020 and 2021 HH the Amir Cup titles
He has also coached the team to win the 2020-2021 Qatar Cup title, and the 2019 Qatar Super Cup
Infath of Saudi Arabia logs $159.9m sales in October
Entrustment and Liquidation Center (Infath) of Saudi Arabia has raked in its highest ever amount in October thanks to sales...The organization has now raised more than $533 million since it started operations in September 2020
Infath is planning to supervise 3 additional auctions during the first half of November 2021
Saudi economic growth in Q3 5.7 percent likely: Capital Economics
Compared to the growth of only 0.7 percent in the second quarter of this year, Saudi Arabia's economy is likely...Capital Economics says increases in oil production, along with a loosened fiscal policy, will only boost recovery further.
In mid-October, the World Bank revised Saudi Arabia’s 2022 growth forecast from 3.3 percent to 4.9 percent.
Three Saudi companies to offer nine million shares in IPO
Three Saudi private companies will go public, offering around nine million shares in IPOs, according to the Saudi Exchange market...Among them was the Riyadh-based Advanced International Company, specializing in providing technical and security solutions
Alwasail Industrial Co., also offered 2.5 million shares
Russia wins latest round of $50bn Yukos case
The Dutch supreme court on Friday scrapped an order for Russia to pay a record $50 billion to former shareholders in dismantled...Judges shunted the case back to a lower court for more hearings as the battle continues over Yukos
Russia hailed Friday's decision, but the ex-shareholders said they were "confident" they would eventually win their fight over the original 2014 arbitration award
UAE stocks lead higher, mixed show by Saudi index
TASI fluctuated during the week, owing to a rise in Aramco shares. The energy giant's net income grew to $30.4...Seven sectors on the Abu Dhabi Stock Exchange gained during the week, led by telecommunications that rose 1.16 percent.
Aramco’s market capitalization has increased by more than 8 percent this year to just over $2 trillion.
Shortages hit French and German industrial output
Industrial output fell in September in both France and Germany as delays in receiving materials hampered production, data released Friday...In Germany, where manufacturing for export is the linchpin of the economy, industrial production fell by 1.1 percent in September from August
The September drop confounded some analysts who had been expecting a gain and on an annual basis output is now down 1.0 percent from last year
Chip crunch forces Honda to downgrade profit forecast
Japanese car giant Honda revised its annual profit forecast downwards on Friday, warning it sees no immediate end to the...The announcement came as the firm logged a drop in net profit in the July-September quarter
The results were announced a day after rival Toyota upgraded its annual profit forecast despite being forced to cut production by the global shortage of semiconductors
