Abu Dhabi records real estate deals worth $38.7 billion in 2025
Abu Dhabi, UAE -- Abu Dhabi’s real estate market recorded transactions worth a record AED 142 billion ($38.7 billion) in...
Business
Gaming, esports GCC’s new growth play
Saudi Arabia and the UAE are leading the gaming surge with world-class ecosystems and youth-driven expansion. Across the region, governments...
Economy
Business
Saudi Ministry of Investment and Agility sign MoU to boost healthcare sector
Riyadh, Saudi Arabia-- Saudi Arabia and Agility have signed a memorandum of understanding (MoU) to introduce cutting-edge health technology and...
- The agreement includes the potential to widen digital health services and localizing the supply chain for innovative new medical technologies
- The MoU looks to widen people's access to preventative health services to combat chronic diseases such as cardiovascular disease and breast cancer
Business
HSBC Q3 profit up
Its pre-tax profit more than doubled to US$7.7bn.
- The banking giant reported third-quarter revenue grew 40 percent to $16.2 billion
- It announced a new $3bn share buyback program, after two similar initiatives this year
Interview
‘ESG, AI and robotics remain FII’s investment focus’
FII Institute remains committed to innovative and sustainable technology investments, Anthony Berkley, ACT Director and Head of Investments, tells TRENDS.
- FII Institute remains committed to innovative and sustainable technology investments, Anthony Berkley, ACT Director and Head of Investments, tells TRENDS.
- Its portfolio includes pioneering firms in AI and robotics, reflecting a focus on impactful solutions in critical areas like sustainability, health, and education.
Business
Hamriyah Freezone and Amazon UAE sign lease agreement for new logistics center
Sharjah, UAE--Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics centre which will...
- The agreement supports Amazon UAE’s commitment to investing across the country in order to shore up economic growth and innovation
- The freezone's infrastructure and location together with Amazon's technology are expected to boost customer convenience and reliability
Business
Saudi Exchange to launch Single Stock Options contracts
Riyadh, Saudi Arabia – The Saudi Exchange on Sunday announced its intention to launch the Single Stock Options (SSOs) contracts,...
- SSOs contracts will be available to trade on 27 November 2023, enabling local and international investors to hedge and manage portfolio risks effectively
- The contracts will be cleared and settled by the Securities Clearing Center Company (Muqassa) in line with international best practices
Business
Arab Bank posts net profit
It posted a profit of $630 million in January-September 2023.
- The Group maintained its strong capital base with a total equity of $10.8 billion.
- Excluding the impact of devaluation of several currencies against the US dollar, loans grew by 4 percent.
Business
Hamriyah Freezone Authority, Amazon UAE ink pact for logistics center
SHARJAH, UAE - Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics center...
- Once launched, the new center will enable a seamless delivery experience across the Northern Emirates.
- HFZA’s location and over 20 years of Amazon’s technology and operational expertise will enhance convenience for customer orders.
Business
Elm net profit up 43%
The profit growth was driven by 27% revenue increase.
- The rise in revenue resulted from a surge in digital business revenue by 42.70 percent.
- The third-quarter net profit grew 22.2 percent to SAR 334 million, from SAR 273.36 million in Q3 2022.
Business
Sulaiman Al Habib 9M profit $405m
The Group reported a nearly 16% year-on-year rise in revenues.
- The higher revenues were driven the hospital and pharmacy segments, due to the increase in the number of patients and inpatients occupancy.
- In Q3 2023, the net profit climbed 30 percent to SAR 544.8 million from SAR 420.6 million in Q3 2022.
Business
Lebanon court orders ex-car boss Ghosn out of Beirut home
Ghosn and his wife must "vacate the property... within a month", according to a copy of the decision seen by...
- Ghosn, who took up residency in the Beirut property after fleeing prosecution Japan in 2019, appealed the ruling on Friday, the Judicial official said
- Phoinos initiated the legal action in 2019 and has accused Ghosn of "trespassing on private property and living in the home without legal basis", the official added
Abu Dhabi records real estate deals worth $38.7 billion in 2025
Abu Dhabi, UAE -- Abu Dhabi’s real estate market recorded transactions worth a record AED 142 billion ($38.7 billion) in...
Business
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US$1.5 billion Amazon protection plan launched in Davos
A carbon markets investor backed by Swiss-trading house Mercuria said on Wednesday it had joined with two non-profits to raise...
Social media’s evolving role in GCC spotlighted at Doha conference
Doha, Qatar – The Qatar Investment and Innovation Conference, held on Wednesday, at Barahat Msheireb in Msheireb Downtown Doha, brought...
Masdar targets 100 GW of clean energy by 2030
Abu Dhabi, UAE - Fatima Al Suwaidi, Head of Development & Investment (APAC) at Masdar, has affirmed the company's ambitious...
Business
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Business
Latifa bint Mohammed awards UK’s Simon Squibb with ‘One Billion Award’ at 1 Billion Followers Summit
Dubai, UAE - Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, presented the...
- The award ceremony was held during the third edition of the 1 Billion Followers Summit, the world’s largest gathering dedicated to the content creator economy
- Valued at US$1 million, the award stands as the world’s largest and most significant recognition for impactful content creators
Business
1 Billion Followers Summit: AI’s transformative role in content creation highlighted by YouTube, Meta, Duolingo
Dubai, UAE - The 1 Billion Followers Summit, the world’s largest event dedicated to the content creator economy, brought together...
- YouTube's Regional Director for the Middle East, Africa, and Turkey, shared insights on the pivotal role of ultra-short videos in reshaping digital content
- Fares Akkad, Regional Director for the Middle East and North Africa at Meta, revealed the company’s vision for AI and emerging technologies in content creation
Business
Content creation key to awareness, culture, human development: Dubai ruler
Dubai, UAE -- Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, attended part of...
- The three day 1 Billion Followers Summit is being held in the UAE at Emirates Towers, the Dubai International Financial Centre, and the Museum of the Future in Dubai,
- For the first time globally, leading platforms including Snapchat, X, YouTube, TikTok, LinkedIn, and Meta (Facebook, Instagram, WhatsApp) have come together in one place