Loyalty Lost: How brands need to adapt to the modern traveler
Dubai, UAE: As 2025 unfolds, travel brands are facing a significant challenge: customer loyalty. Traditional rewards programmes, often based on points systems,...
Business
Business
Merak launches credit fund
The $53-million direct lending fund is Shariah compliant.
- The fund is Merak's first credit fund under the Capital Market Authority new regulation for direct financing investment funds.
- The fund aims to underwrite loans between 5 to 20 million SAR, targeting a portfolio of 20 borrowers, Merak said.
Business
SoftBank posts US$5.9bn loss
The group's Q3 loss coincides with a slump in the tech sector.
- SoftBank said that tts two Vision Fund investment vehicles alone lost 660 billion yen ($5 billion) in October-December
- Its CEO Masayoshi Son has regularly defended his strategy of making major bets on high-tech firms and start-ups
India’s Adani Enterprises shares rocket 25%
The group owned by tycoon Gautam Adani lost around $120 billion in value after claims of accounting fraud were levelled...
- Adani said Monday it was repaying early loans worth $1.1 billion, in a move meant to reassure investors
- Hindenburg accused Adani of "brazen stock manipulation and accounting fraud scheme" in "the largest con in corporate history"
Business
Hong Kong looks to encourage Aramco to list in city
Hong Kong-- Hong Kong is looking to persuade oil giant Aramco and its units to consider a secondary listing in...
- Hong Kong Chief Executive John Lee is embarking on his first official visit to the Middle East
- The chief executive said before leaving that Saudi Arabia’s and the UAE’s development vision and needs are “exactly in line” with Hong Kong’s advantages
Opinion
Increasing pressure from Saudi real estate projects to force Dubai to develop more distinctive offerings
At the moment, the market is solidly Dubai, which is recognised as the world leader in branded residential offerings with...
- Increasing pressure from Saudi real estate developments will, over the coming years, force Dubai to develop even more distinctive offerings, says an expert.
- This race may benefit both the development pipeline and the consumer in the region, writes Thomas Williams, Studio Director at Gensler Middle East
Business
GMG buys out Aswaaq LLC
It will add 22 supermarkets to GMG's retail network in the UAE.
- Last April, GMG acquired Géant operations in the UAE from Urban Foods by Dubai Holding, adding 18 hypermarket and supermarket outlets to its retail footprint
- The company has introduced over 120 brands and has announced plans to double its global workforce by 2025
Business
Iraqi Kurdistan suspends oil export via quake hit Turkey
"The Kurdistan Regional Government confirms the halt of oil exportation through #Turkey's Ceyhan due to the #earthquake that struck several...
- The autonomous Kurdish region of northern Iraq usually exports around 450,000 barrels of oil a day through Turkey.
- A 7.8-magnitude earthquake hit southern Turkey and neighboring Syria on Monday, killing more than 1,800 people.
Business
UAE tops globally in tertiary education
For the 12th year in a row, Switzerland leads the ranks on the Global Innovation Index. South Korea was the...
- The 2022 GII says it tracks the most recent global innovation trends against the background of the pandemic, slowing productivity growth and other evolving challenges.
- It looks at whether stagnation and low productivity growth are here to stay, or whether we are about to enter a new era, where new innovation spurts.
Business
Rothschild family to take investment bank private
The Rothschild family is set to take its investment bank private as its holding company announced plans to buy out...
- The offer would be priced at 48 euros per share, or 19 percent higher than Friday's closing price, the holding said in a statement.
- It is also 15 percent up from the all-time high reached in January 2022.
Business
Dubai records over $381 million in real estate transactions
Dubai, UAE-- Dubai real estate market recorded transactions worth AED1.4 billion ($381 million) on Monday, data released by Dubai's Land...
- The deals included 490 sales transactions worth AED1.17 billion, in addition to 86 mortgage deals of AED177.94 million.
- The sales included 441 villas and apartments worth AED898.41 million, and 49 land plots worth AED269.56 million.
Company News
ADNIC reports $82m profit
Business
Latest News
ADNOC Gas net income $3.37bn
Business
A short history of the Boeing 737 MAX
The plane, which suffered a dramatic blowout of a fuselage panel during a flight over the US state of Oregon,...
Business
Saudi Arabia, Belarus ink MoU to boost trade, investment
RIYADH, SAUDI ARABIA - The Federation of Saudi Chambers and the National Center for Marketing and Price Study at the...
Geostrategy
Qatar sees 36.1 percent surge in visitor arrivals in Nov 2023
Doha, Qatar -- Qatar witnessed a 36.1 percent increase in the number of inbound visitors in November 2023, compared to...
Business
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Business
Baims acquires Orcas Edtech
The firm plans to incorporate one-to-one tutoring services.
- Baims specializes in providing online tailored recorded courses for university students in Saudi Arabia, Kuwait, Bahrain, and Jordan.
- Capitalizing on its market share in Saudi Arabia, Baims is poised to launch a specialized AI-driven test preparation product.
Business
Bahrain Steel raises $450m SLL
The company produces and supplies high-grade iron ore pellets.
- The proceeds from this loan will be directed towards CAPEX for constructing the world’s largest stockyard shed with rooftop solar panels.
- The SLL's framework incentivizes Bahrain Steel to exceed mandatory greenhouse gas (GHG) emissions reductions.
Business
Dubai SME joins hands with CXDA to attract investment
DUBAI, UAE – The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), a part of Dubai...
- The strategic partnership with Dubai SME outlines a comprehensive roadmap.
- This will introduce AI for equipping SMEs with innovative financial solutions.