Türkiye’s traditional realty charm: Alive or fading?
Driven by its strategic location, cultural heritage, and government incentives, Türkiye's real estate market remains a focal point for regional...
Business
Nissan to shrink EV production costs
The automaker will slash production costs by 30 percent.
Business
Business
Emaar to sell Namshi to Noon
The Dubai developer will sell its online retailer for $335.2m.
- The Department of Economic Development has revealed that e-commerce licenses issued by the emirate jumped 63 per cent in the first half of 2021
- During the last two years of the Covid Pandemic, online buying in the UAE has taken a big leap in growth, with Amazon alone recording net sales of about $500m in 2021
Business
Art market persists with crypto romance
NFT artworks accounted for some $2.8 billion in sales last year and the rate has declined only slightly in the...
- Thirteen Italian museums recently signed deals with Cinello, a firm that sells limited edition digital reproductions, to offer ownership of digital replicas of masterworks
- Cinello said it had digitized more than 200 works and its sales had generated 296,000 euros in extra revenue for Italian museums
Business
Jordan and Algeria agree to boost trade, investment ties
Many Jordanian industrial sectors have the necessary requirements to enter the Algerian market, especially the pharmaceutical components, clothing, chemical and...
- The business groups also agreed to have more meetings and visits in order to assess investment opportunities
- According to official data, the kingdom's exports to Algeria in 2020 amounted to $94 million, compared to about $125 million in imports
Opinion
More firms opt for M&As amidst financial distress
As money starts to dry up and subsequent funding rounds get more precarious, companies are expected to experience more acute...
- The rapid rise in high-velocity M&A interest over the last months is driven by the inherent uncertainty surrounding the global economy and markets
- Deal makers see a great window of opportunity but also understand this window could be fleeting, writes Victor Basta, Co-Head of DAI Magister
Business
Aramco to complete $2.65bn buyout of Valvoline in 2023
Days after disclosing it had signed a $2.65 billion equity purchase agreement with Valvoline Global Products, Mohammed Y. Al-Qahtani, Aramco’s...
- Mohammed Y. Al-Qahtani said that Valvoline and Aramco will expand their existing partnership to ensure that 'Valvoline’s brand is managed in a consistent and holistic manner'
- He noted that VGP will acquire perpetual ownership of the Valvoline brand, trademarks and copyrights in the products sector
Market Report
Conflicts, inflation keep GCC markets on their toes
Though GCC markets witnessed an IPOs rush in the first half of 2022 due to the rising investment interest, the...
- Though GCC markets witnessed an IPOs rush in the first half of 2022 due to the rising investment interest, the future is not comforting for the rest of the year, says an expert
- Due to the volatility of international conditions, GCC stock markets may continue to fluctuate for the rest of 2022, adds Wael Makarem, Sr Market Strategist – MENA at Exness
Market Report
Saudi, Emirati stocks end the week in red
Despite a 3.9 percent increase in the food and beverage sector and a generally mixed week for the Saudi Stock...
- The general index of the Saudi stock market "TASI" ended Thursday's trading down 0.2 percent, or 25.01 points.
- The index was down 0.3 percent, while three sectors on the Dubai Stock Exchange were down 0.93 percent, with banks leading the decline.
Research
Saudi Arabia advances in education competitiveness index
The Kingdom of Saudi Arabia has progressed in the education, research, and innovation indicators per the World Competitiveness Yearbook 2022...
- The Kingdom’s ranking jumped to the 24th position in the report, compared to 32 in 2021.
- The Kingdom advanced two steps in the scientific infrastructure indicator, garnering the 30th position this year compared to 32nd position in 2021.
Geostrategy
Russian agricultural products embargo to cause food crisis, says UN
Russian fertilizers and agricultural products must be able to reach world markets "unimpeded" or a global food crisis could strike...
- UN said it is important that all governments and the private sector cooperate to bring Russian agricultural products to market
- The UN chief vowed that his organization would try to "step up" grain exports from Ukraine before the onset of winter
Business
Jordanian, Algerian businesses aim for better trade relations
The Jordanian and Algerian business community agreed to a new vision for the two countries' economic relations, aiming to open...
- The Jordanian, Algerian sides stress on the need to develop action mechanisms to overcome difficulties that mutual trade faces.
- The two sides agree to intensify meetings and exchange delegations' visits to get acquainted with available economic opportunities.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Türkiye’s traditional realty charm: Alive or fading?
Driven by its strategic location, cultural heritage, and government incentives, Türkiye's real estate market remains a focal point for regional...
Business
Company News
Latest News
Firms listed on Qatar Stock Exchange post 9M profit of $10.27bn
Doha, Qatar -- Companies listed on the Qatar Stock Exchange have reported a net profit of QR 37.42 billion ($10.27...
Business
Foreign investments rise in NE China due to several projects
SHENYANG, CHINA – Investments in the country’s northeast have grown over the past years as several multinational corporations put in...
Business
Most Read
Economy
Saudi Arabia’s Q3 real GDP falls by 4.5% on decreased oil activities
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) decreased by 4.5 percent in the third quarter of...
- Non-oil activities and government activities grew by 3.6 percent and 1.9 percent respectively in the third quarter due to a 17.3 percent fall in oil activities.
- Seasonally adjusted real GDP decreased by 3.9 percent in the third quarter compared to the previous quarter, due to a decrease in oil activities and government activities.
Business
Burjeel Holdings profit surges
Its revenue spiked to US$898m in the first 9 months of 2023.
- The company posted a162.6 percent increase to $37.30 million during the third quarter of 2023
- It plans to set up two medical centres in Dubai and Abu Dhabi and one Burjeel Day Surgery Centre in Al Dhafra
Samsung Q3 profit down 77.57%
The company's third-quarter profit was well above the first quarter's 640 billion.
- Samsung announced third-quarter operating profits of "2.4 trillion won ($1.7 billion) based on strong sales of flagship models in mobile and strong demand for displays"
- The company said net profit dropped 37.7 percent year-on-year to 5.8 trillion won -- though it represents a rebound from the second quarter's 1.7 trillion won