Aramco net income $28bn
Capital investment during Q3 2025 $12.9bn on investments in energy projects.
Business
$2.65bn in contracts signed during first two days of IDEX and NAVDEX 2025
Abu Dhabi, UAE -- Tawazun Council, UAE's authority responsible for managing acquisitions, procurement, and contracts on behalf of the Ministry...
Business
DeepSeek sparks AI stock selloff
Global investors dumped tech stocks following the emergence of a low-cost Chinese AI assistant startup DeepSeek that would threaten Nvidia....
- Chipmaker Nvidia lost S$593 billion of its market value
- Japan's SoftBank Group finished down 8.3 percent
Business
Meraas awards construction contract
The $272m contract has been awarded for Bluewaters Bay.
- The contract is aimed at creating Dubai’s next iconic waterfront destination, with completion scheduled for Q4 2027, the company said.
- Bluewaters Bay will feature two residential towers linked by a dynamic podium, offering 678 apartments, ranging from one to four bedrooms, including penthouses.
Hong Kong’s property distress hurting banks
Distressed property sales in Hong Kong are beginning to bite banks with average prices of office buildings, shopping malls and...
- Nearly 40 percent of the US$4.36 bn in Hong Kong commercial real estate transactions in 2024 suffered losses
- Rising office vacancies and softening rents threaten the quality of US$80 billion in commercial real estate loans at five major banks
Economy
Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts
The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...
- The initiative’s 33 members from 16 countries represent combined potential greenhouse gas emissions reductions comparable to the annual emissions of Saudi Arabia
- A new report highlights the critical role that industrial clusters play in accelerating the deployment of clean-energy infrastructure at scale worldwide
Business
Public-Private collaboration is crucial to tackling physical inactivity crisis: WFSGI CEO Emma Zwiebler
Emma Zwiebler, CEO of the World Federation of the Sporting Goods Industry (WFSGI), sat down exclusively with TRENDS at the...
- In many regions, over 80% of youth aren’t getting enough exercise, and it’s affecting their future health, says Zwiebler
- Technology and sedentary lifestyles are driving a worrying trend in inactivity, especially among youth, she adds
Interview
Davos25: Qatar, Saudi, UAE to lead GCC transformation, says Cytomate COO
DAVOS, Switzerland -- Bilel Al Souaied is an entrepreneur and venture capitalist. He is the COO of Cytomate, a leading...
- Since the discovery of hydrocarbons, GCC has been experiencing several economic models. Some of them proved to be working, some not.
- "We do have one of the most advanced educational ecosystems. Qatar is leading the way in terms of that," Bilel said.
World Economic Forum
Davos25: Kyrgyzstan beckons with lax tax regime, says CEO of country’s tech hub
Davos, Switzerland -- Aziz Abakirov, the CEO of the High Technology Park of the Kyrgyz Republic, represents a unique initiative...
- Companies in Kyrgyzstan High Technology Park enjoy 1% tax on turnover and zero tax on certain activities, including crypto.
- Our main focus is to attract partners who value skilled talent and are looking to collaborate with us, Abakirov said.
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...
- The Amazon closer to the point where it becomes a net emitter of carbon emissions
- EU's 27-nation bloc will stick to the landmark Paris climate accord
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...
- The conference, co-hosted by Msheireb Properties and The Business Year, explored critical themes critical to the GCC’s position as a leading investment hub
- Julien Hawari, CEO of Million and Sirius Lab, highlighted key social media trends in the region, such as the rise of content driven by younger, tech-savvy demographics
Business
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...
- Masdar has successfully implemented 31 GW of clean energy projects across 40+ countries, expanding its global footprint
- In 2024, Masdar doubled its clean energy production capacity, underscoring its leadership in the sector
Aramco net income $28bn
Capital investment during Q3 2025 $12.9bn on investments in energy projects.
Business
Company News
TAQA net income $1.93bn in 2024
Business
ADNOC L&S 2024 net profit $756m
Business
Latest News
ADNOC Distribution 2024 net profit down 7%
Minus UAE corporate tax, it would have grown by 2.4% to $725m
Business
Altman rejects Musk’s US$97.4 billion bid to buy OpenAI, as feud continues
After receiving backing from his OpenAI board, Sam Altman informed an Elon Musk-led group of investors that sought to buy...
Chinese auto giant BYD to integrate DeepSeek, broaden self-driving tech
BYD will install its "God's Eye" autonomous driving system in at least 21 models, including the Seagull budget hatchback priced...
Business
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Business
Maaden raises $1.25bn in sukuk offering
The Sukuk were offered in a five-year and a 10-year tranche.
- The five-year tranche of $750 million consists of 3,750 Sukuk based on the minimum denomination and total issue size.
- Maaden said the annual return on the five-year tranche is 5.25 percent and 5.50 percent for the 10-year tranche.
Business
UAE announces top-up tax for multinational enterprises
Abu Dhabi, UAE - The Ministry of Finance has announced the issuance of Cabinet Decision No. 142 of 2024 on...
- The top-up tax will apply to entities that are members of Multinational Enterprises (MNEs) operating in the UAE with annual global revenues of €750 million or more
- To bolster the UAE’s competitiveness as a leading investment hub, the top-up tax has been structured to exclude Investment Entities
Big Tech’s AI spending rattles markets
Amazon and big tech peers Microsoft and Google saw their stock prices fall on concerns over high AI investment costs....
- Meta's stock surged 18 percent in January as investors endorsed its AI strategy
- Amazon forecasts 5-9 percent growth in Q1 2025, with sales between US$151 and US$155.5 billion