MENA Mergers & Acquisitions deal value up 66% in Q1, hits $46 Billion
Dubai, UAE -- The Middle East and North Africa (MENA) region has kicked off 2025 with a record-breaking first quarter...
Business
Israel arms exports to UAE, Bahrain, Morocco rise sharply after 2023
Sales to countries considered part of the Abraham Accords -- the United Arab Emirates, Bahrain and Morocco who signed groundbreaking...
Business
Business
Standard Chartered to sell Jordanian business to AJIB
Amman, Jordan--Standard Chartered has decided to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), according to both the...
- The emerging markets-focused lender intends to exit seven markets in Africa and the Middle East
- The bank wants to focus on faster-growing markets in the region, such as Saudi Arabia and Egypt
Business
Zain KSA posts record profit
The company's profit vaulted 157% to US$147m in 2022.
- The company's revenue jumped from $2.10 billion in 2021 to $2.40 billion in 2022, propelled by growth in business-to-business, 5G and other revenue streams
- The telecom operator invested $244 million in 2022 in order to develop the quality of services provided to its clients
Opinion
Fed in dilemma over inflation, financial stability
"It appears that the Fed has not learned from the mistakes of the 1980s. Throughout much of the 1970s, the...
- If the US Federal Reserve had implemented an increase of more than 25 basis points, it could have triggered further instability
- The Fed must learn from the past mistakes and proceed with caution to avoid financial instability, says deVere CEO Nigel Green
Economy
UAE-Israel free trade deal to take effect on April 1
The customs deal is viewed as the concluding phase of a free trade agreement following the normalization of relations between...
- The Israeli foreign ministry in a statement said the free trade deal would see customs duties "lowered or cancelled on approximately 96 percent of goods"
- Last year trade between the UAE and Israel touch $2.5 billion, excluding software and services, making the Gulf country Israel's 16th largest trading partner
Business
In an email to employees, Elon Musk puts Twitter’s value at just $20 billion
The email to employees dealt with a new stock compensation program in the San Francisco-based company and the attribution to...
- He cited a revenue drop of $1.5 billion a year and a debt-servicing burden of the same amount, leaving it with "only 4 months of money."
- Musk said in the email that he sees a "clear but difficult path" to a valuation of $250 billion, without saying how long that might take
Business
DP World’s overseas logistics investments cross $10bn
Despite global economic slowdown, the firm continues to expand its partnerships and investments, with key focus on Africa and UK....
- Despite global economic slowdown, the firm continues to expand its partnerships and investments, with key focus on Africa and UK. Last year, its investments totalled $320m
- DP World ranks fifth in the world by total value of direct investments allocated to the overseas logistics services sector, while Amazon and AP Moller Maersk lead the pack
Business
Aramco seeks to become China’s all-inclusive energy, chemicals source
Beijing, China - Saudi Arabia's Aramco said it wants to be an all-inclusive source of energy and chemicals for China’s...
- Aramco CEO said the company is supplying new lower carbon products, chemicals and advanced materials, all supported by emissions reduction technologies.
- "In particular, we see a major win-win opportunity to build a world-leading, integrated downstream sector in China," he said.
Business
Qatar Chamber forms committee to address gold sector issues
Doha, Qatar -- Qatar Chamber has established a committee for gold and jewelry to address issues facing this sector and...
- The committee will also work to develop the sector as one of the country's important sectors besides resolving its issues.
- It also agreed that the gold sector shall be divided into three subsectors: the gold trade, the jewelry trade and the gold and jewelry factories.
Business
DEWA, UAE energy ministry discuss cooperation for clean energy goals
DUBAI, UAE - MD & CEO of the Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer discussed consolidating...
- DEWA’s current capacity has reached 490 Million Imperial Gallons per Day of desalinated water.
- DEWA is also working to increase the capacity of the transmission and distribution networks.
Science
UAE urges investment, action for water sustainability at UN meet
DUBAI, UAE – UAE Minister of Climate Change and Environment Mariam bint Mohammed Almheiri emphasized the importance of collaboration, data...
- The UAE is on track to reduce total water consumption of its food sector by over 15 percent despite doubling production by 2030.
- The UAE’s national plan - the Water Security Strategy 2036 - ensures that programs are implemented on the supply and demand side.
MENA Mergers & Acquisitions deal value up 66% in Q1, hits $46 Billion
Dubai, UAE -- The Middle East and North Africa (MENA) region has kicked off 2025 with a record-breaking first quarter...
Business
Company News
Latest News
Dubai World Trade Centre to host Japan trade exhibition next week
Dubai, UAE--The first edition of the Japan Kyoto Trade Exhibition 2024 is all set to kick off this Monday, 22nd...
Business
Middle East needs strong Saudi Arabia, says kingdom’s finance minister
Dubai, UAE-- Saudi Arabia's Finance Minister Mohammed Al-Jadaan said the Middle East needs a strong Saudi Arabia to contribute and...
World Economic Forum
UAE firms face AI-driven data management hurdles
In a rapidly evolving digital landscape, 91% UAE business leaders are facing critical challenges in aligning data strategies with their...
Business
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Economy
Saudi Arabia to host WEF special meeting in April
Davos, Switzerland — Saudi Arabia will host a special meeting of the World Economic Forum (WEF) in Riyadh this April, Saudi...
- Speaking at the panel 'Saudi Arabia: The Course Ahead', Saudi minister Faisal Al Ibrahim said the event will focus on global collaborations
- He underlined Riyadh's emerging role as a hub for various sectors and as a center for global thought leadership.
Business
IEA says oil production to rise but demand to be halved in 2024
Paris, France - World oil supply will continue to rise this year, the International Energy Agency said on Thursday, as it...
- Much of the slowing demand has mirrored falling demand for post-pandemic travel demand in China, which drives much of the world's oil demand growth.
- IEA added the world's oil supply will continue to grow due to "record-setting output" from the United States, Brazil, Guyana and Canada.
Business
UAE ranks first in Arab world in labor-resilient countries, says report
Dubai, UAE -Â Against the backdrop of the World Economic Forum in Davos, Whiteshield announces the release of the Global Labor...
- As the world confronts the challenges of global warming and the transition to a sustainable future, the impact on labor markets looms large.
- The direct consequences of climate change, including displacement, migration, and fluctuations have become increasingly pervasive.