UAE foodservice sector set for continued growth through 2030: Deloitte preview
The UAE’s foodservice sector continued to grow in 2025 and is expected to expand further through 2030, even as the...
Business
Business
Abu Dhabi IPO Fund looks to launch three IPOs by end of 2024
Abu Dhabi, UAE--Abu Dhabi IPO Fund (ADIPOF) is working on three initial offerings in the technology, hospitality, restaurants, and financial...
- Al Khawaja said one of the offerings will be for a family business in the financial sector and foreign exchange and remittances
- The fund, according to Al Khawaja, considers family businesses as the key to advancing economic development in Abu Dhabi
Business
GCC banks navigate rising rates with record lending
Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the...
- Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the UAE, and robust economic indicators.
- GCC-listed banks hit a new record with aggregate gross loans reaching US$1.95 trillion by Q3-2023, as strong manufacturing and project awards boost market scenario.
Business
China announces 25 measures to aid private businesses
Beijing, China - China's central bank and several government agencies unveiled 25 new measures Monday to support private economy. These...
- These initiatives aim to diversify financial avenues for private businesses, marking a continued effort to bolster the private sector
- These initiatives aim to diversify financial avenues for private businesses, marking a continued effort to bolster the sector crucial for the country's economic progress.
Business
Diamond industry adopts tracking as Russia sanctions loom
Antwerp, Belgium - As European capitals prepare to implement long-awaited sanctions on Russia's diamond exports, Belgian traders are bracing for new...
- Russian stones accounted for around a third of the global market before its Ukraine invasion, and G7's decision to ban trade in them could have broad repercussions
- The European Union is drawing up bans on Russian diamonds as part of its 12th package of sanctions to tighten the vice on Moscow's war economy and cut off its funds
Business
Foxconn to invest $1.54bn more in India
The firm announced in May to purchase land for $37 million in India.
- Chairman Young Liu had said during an earnings call in August that the company saw the potential to invest "several billion dollars" in India
- The company is planning to expand its India operations to "critical components" for consumer electronics and electric vehicles to boost its competitiveness
Geostrategy
It’s official: Saudi Arabia will host World Expo 2030
The Kingdom's selection as the host for World Expo 2030 marks a pivotal moment in its journey towards innovation, openness,...
- The Kingdom's selection as the host for World Expo 2030 marks a pivotal moment in its journey towards innovation, openness, and global connectivity.
- This monumental global event in Riyadh will showcase Saudi Arabia's transformation and commitment to a forward-looking and sustainable future.
Business
Abha Valley has potential to be a tourist destination
ABHA, SAUDI ARABIA - Extending over 34 kilometers, the Abha Valley Basin enjoys a variety of wildlife aspects, civilizational features...
- The Abha Valley abounds in environmental diversity, which explains its array of mountain plants.
- The rugged areas of the highest point of the valley form the right habitat for the Arab tiger,
Business
SNB Capital ignites Saudi derivatives revolution
SNB Capital's Single Stock Options debut marks a leap forward, enhancing liquidity and expanding investor choices.
- Tadawul transforms from a derivatives novice to a major player with diverse instruments, attracting global investors.
- Launching Single Stock Options amplifies market liquidity, providing new investment avenues, and managing risks effectively.
Business
Ooredoo, QNBN sign agreement
The two companies will jointly develop Doha Port.
- The agreement represents a strategic partnership and reflects a commitment to driving innovation to build a more connected Qatar.
- Qatar National Broadband Network was established to implement the highest global standards in evolving telecommunication infrastructure.
Business
Egypt jumps to third place in Offshore BPO Confidence Index
Cairo, Egypt -- Egypt's global prominence received a boost as it jumped from 11th to third place in the 2023...
- Egypt's BPO industry demonstrated steady growth, with digital exports increasing from $4.5 billion in 2022 to $4.9 billion in 2023.
- The country targets doubling export revenue to $9 billion by 2026, creating over 200,000 direct job opportunities.
UAE foodservice sector set for continued growth through 2030: Deloitte preview
The UAE’s foodservice sector continued to grow in 2025 and is expected to expand further through 2030, even as the...
Business
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A dirham and a dream: Matthews Southwest’s Jay French on future of UAE real estate
From an institutional investor-based viewpoint, it is becoming of interest more now than it ever has been. And that's a...
Interview
Automakers lead market losses after Trump tariffs on imported vehicles
Wall Street's main indexes opened in the red, with General Motors sinking more than nine percent in early trading while...
Business
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Business
Aramco acquires stake in BHIG
The 50% equity interest in BHIG is Aramco-APQ joint venture.
- The agreement brings together experts in their respective fields to provide the Jubail Industrial City area with hydrogen, including lower-carbon hydrogen, at scale.
- BHIG is expected to commence commercial operations to produce blue hydrogen in coordination with Aramco's carbon capture and storage (CCS) activities in Jubail.
Business
ADNOC L&S okays $273m dividend
The final dividend of $136.5m will be paid on April 3.
- ADNOC L&S delivered exceptional financial growth, driven by strong market demand, strategic acquisitions, and operational efficiency, the company said.Â
- Revenue increased 29 percent year-on-year to over $3.5 billion (AED13 billion), while net profit rose 22 percent to $756 million (AED2.7 billion).
Business
Samsung TV pioneer Han Jong-hee dies of heart attack at 63
Samsung Electronics co-CEO Han Jong-hee, credited with boosting the South Korean tech giant's television business on the global stage, died...
- Han joined Samsung in 1988 and was seen as having played a key role in getting its high-end TV sets noticed worldwide
- Samsung Electronics is the flagship subsidiary of South Korean giant Samsung group, by far the largest of the family-controlled conglomerates