DAE to acquire 17 aircraft for $1 bn
This portfolio comprises 100 percent next-generation aircraft
Business
Tech and sustainability drive Singapore’s smart tourism vision
To realize its vision for “smart tourism”, Singapore Tourism Board is leveraging cutting-edge technologies like artificial intelligence, data analytics, and...
Interview
Economy
Saudi Arabia’s GDP grows by 8.6 percent in third quarter of 2022
As per estimates by the General Authority for Statistics (GASTAT), real Gross Domestic Product (GDP) of Saudi Arabia grew by...
- The seasonally adjusted real GDP increased by 2.6 percent in the third quarter 2022 compared to the second quarter this year.
- Non-oil activities grew by 5.6 percent and government services activities by 2.4 percent on a year-on-year basis.
Business
Empower IPO priced AED1.31-1.33 per share
The total offering size expected between $357m and $362m.
- On Oct. 24, Empower announced it will list 10 percent stake in its IPO and list a portion of its ordinary shares for trading on the Dubai Financial Market (DFM).
- Empower said that 1 billion shares, each with a nominal value of AED0.10 (ten fils) will be made available in the offering.
Business
Hong Kong looks to legalize crypto for retail investors
Years of strict pandemic controls and a political crackdown have hammered the Asian finance hub's economy and sparked an exodus...
- In contrast to mainland China where crypto has been all but banned, Hong Kong is looking to relax regulations and claw back some of the business that has left
- A fintech conference opened on Monday and will be followed on Wednesday by a finance summit attended by some of the world's top bankers
Business
Taaleem to raise US$204.21 million in IPO
Dubai school operator plans to expand its network.
- Taaleem will offer 10% of its shares to retail investors starting Nov 10, and 88% of its shares to professional investors on Nov. 17
- The company said another 2% will be offered to Eligible Employees and Eligible Parents
Business
Qatar and Azerbaijan to enhance trade, energy relations
Doha, Qatar— Qatar and Azerbaijan have decided to enhance relations in the fields of energy and trade and in this...
- Minister of Economy of Azerbaijan, Mikayil Jabbarov, lauded the relations both countries enjoy, noting that Azerbaijan is eager to further develop its relations with Qatar
- The Qatar-Azerbaijan Joint Business Council aims to assist in setting up direct partnership links between business entities of both countries
Videos
New industrial policy seeks to diversify Saudi economy
The program, launched by Saudi Crown Prince and Prime Minister Mohammed bin Salman, has identified more than 800 investment opportunities...
- The new industrial strategy envisages tripling the country’s industrial domestic product and doubling the value of industrial exports to $148.2 billion.
- The Crown Prince said the program will make the kingdom a leading industrial power that “contributes to securing global supply chains and exporting high-tech products to the world”
Business
Qatar Digital Incubation Center fostering 25 new startups
The selection was made from among 42 competing startups which presented their projects in front of a specialized judging panel.
- The selection was made from among 42 competing startups which presented their projects in front of a specialized judging panel
- The startups in IdeaCamp will enjoy DIC guidance and support throughout their incubation, as well as office space for two years
Business
Savola Group posts 36% increase in profit
It recorded $173m profit in the first nine months of 2022.
- The food company said in a bourse filing that it had also posted a 20 percent revenue jump to $5.60 billion
- For the third quarter of 2022, net profit jumped 34 percent to $44 million, from $33 million in the same period last year
Business
Qatar sets up consular facility for World Cup fans needing help
In order to help football fans who lose their passport or get arrested, Qatar has opened a World Cup consular...
- According to Mexico's ambassador, it is expecting more than 70,000 fans and will have "an important number" of diplomats on duty during the 29 day tournament
- Thousands of Saudi fans are also expected to pour across the border into Qatar, said Saudi ambassador Prince Mansour bin Khaled bin Farhan al-Saud
Interview
Saudi businesses increasingly go digital as technology offers superior customer engagement, better RoI
More Saudi businesses embrace engagement technologies to boost customer experience, increase RoI and enhance productivity, says Unifonic VP & MD...
- More Saudi businesses are adopting engagement technologies to boost customer experience, increase RoI and enhance productivity, says Unifonic VP & MD Ibrahim A. Almohaimede
- Each year, bad customer service costs businesses US$ 75 billion. However, regular buyers invest 67 percent more than the first-time buyers, the Unifonic official adds
DAE to acquire 17 aircraft for $1 bn
This portfolio comprises 100 percent next-generation aircraft
Business
Company News
Evergrande shares begin trading
Business
Latest News
eXtra net profit down 17%
Business
Bristol Myers to buy Mirati
Business
EU seeks agreement on world’s first AI law
European Commission, the EU's executive arm, first proposed an AI law in 2021 that would regulate systems based on the...
Arab Coordination Group allots US$10bn to support energy transition
Dubai, UAE--The Arab Coordination Group (ACG), a strategic alliance comprising regional and international development institutions, announced at COP28 an allocation...
COP28 UAE
Most Read
Business
FAB partners with Engie
They will advance solutions in financial decarbonization.
- The partnership entails both to focus on derivatives or financing solutions related to energy, carbon, renewables, battery energy storage systems, and green products
- Engie is a global leader in low-carbon energy and services, including renewables, committed to accelerate the transition towards a carbon-neutral world
Geostrategy
Russian oil price cap partially successful
LONDON, UK - A Western price cap imposed a year ago on Russia's oil has had limited success with Moscow increasingly...
- The cap was jointly imposed on December 5, 2022 by the European Union, Australia and the Group of Seven rich countries.
- Initially successful, it lost its impact once President Vladimir Putin's Russia found new buyers for its oil and new tankers to deliver it.
Business
Tawzea, NWC ink pacts
The companies have signed two agreements.
- Tawzea is a 50:50 joint venture between Saudi Arabian Amiantit Co and Sustained Infrastructure Holding Co.
- Under the first contract, Tawzea will operate and maintain the water network in Makkah and its governorates.