GCC records surge in women’s workforce participation
Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS...
Business
Saudi Tourism Authority, Trip.com Group sign global agreement
BERLIN, GERMANY – Saudi Tourism Authority (STA) and Trip.com Group have announced a significant global partnership, which will drive greater...
Business
Business
Dubai issues 32,564 Instant Licenses since launch of initiative in Aug 2017
A total of 32,564 Instant Licenses have been issued by the Business Registration and Licensing (BRL) unit at the Department...
- Instant licenses could be secured in a single step within five minutes through invest.dubai.ae platform.
- While 59 percent of these licenses were professional, 41 percent were commercial.
Business
Qatar announces it will invest additional $5 billion in Spain
Qatar on Wednesday said it plans to invest an additional $5 billion in Spain on the second day of a...
- Qatar, one of the world's three biggest exporters of liquified natural gas (LNG), is currently Spain's fifth-largest supplier after the United States, Algeria, Nigeria and Egypt.
- Before the pandemic, Qatari investment in Spain stood at 2.67 billion euros ($2.8 billion), the Spanish government said, making it the country's 24th biggest investor.
Business
Dubai Museum of the Future, Binance to launch first-ever NFT collection
Dubai’s Museum of the Future will develop and launch several digital products on the blockchain, starting with the first-ever NFT...
- The Museum, which launched only a few weeks ago, is already making an impact with visitors, with tickets and Museum Future Talks series sold out days in advance.
- The first NFT drop is set to be announced in the coming weeks, with the collection to be linked to ‘The Most Beautiful Building on Earth’.
Business
Dubai records $490 million in real estate transactions on Tuesday
Dubai real estate market recorded 391 sales transactions worth AED 1.4 billion ($381 million) and 60 mortgage deals of AED...
- The sales included 342 villas and apartments worth AED 1.11 billion, and 49 land plots worth AED 295.09 million.
- Dubai real estate market recorded the highest number of transactions since 2010 registered in a single quarter in Q1 2022.
Business
Morocco ‘breathing again’ as tourists return after Covid curbs
Morocco this week reopened land borders with the Spanish enclaves of Ceuta and Melilla, two years after they were shut...
- The city of Marrakesh, famous for its views of graceful red buildings set against palm trees and snow-capped mountains, has long drawn visitors
- The city was hard hit by a two-year collapse in tourism that saw arrivals to the North African kingdom plummet to just a third last year from 2019
Business
ADNOC and Borealis AG to list 10% of Borouge plc on ADX
ADNOC and Borealis AG will list 10 percent of Borouge plc, a joint venture between the two companies, on the...
- Borouge is one of the world's leading providers of innovative and differentiated polyolefin solutions for the agriculture, infrastructure, energy, advanced packaging, and mobility
- ADNOC has already embarked on a major expansion drive in this space, including the recently announced Borouge 4 complex and the TA'ZIZ Industrial Chemicals Zone in Ruwais
Business
IMF and Pakistan to discuss release of funds as economy falters
Pakistani Prime Minister Shehbaz Sharif, who took power with a coalition that removed Khan in a no-confidence vote last month,...
- Pakistan has repeatedly sought international support for its economy, which has been hit by crippling national debt
- A six billion dollar IMF bailout package signed by former Prime Minister Imran Khan in 2019 was never fully implemented
Business
UAE to build LNG plant with capacity to produce 9.6m tons
The Abu Dhabi National Co.has revealed that it would build a new liquefied natural gas plant with the capacity to...
- The project, to be built at Fujairah, would more than double its export capacity as the demand surges
- the UAE has three liquefaction plants with a total capacity of 5.8 million tons per annum at Das Island, located inside the Gulf
Business
Netflix lays off 150 employees
The growth of streaming service has slowed down in recent past.
- The move came just weeks after Netflix reported that it lost subscribers for the first time in more than a decade
- Netflix ended the first quarter of this year with 221.6 million subscribers, slightly less than the final quarter of last year
Business
Experts set strategies for ‘The Great Business Reset’
Officials, top executives and experts at the TOP CEO Conference in Dubai brainstorm on ways to stabilise economies and secure...
- Among other issues, the last day of the event focused on how unstable global economic cycles, regional conflicts, and health risks shall be dealt with to make the economies prosper
- 'The Inflation Monster session' at the event explored the options before the governments and central banks of the region to handle the rising prices
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GCC records surge in women’s workforce participation
Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS...
Business
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Latest News
Central Bank of Oman foreign assets up by 27% by July end
Muscat, Oman -- Foreign assets at the Central Bank of Oman (CBO) grew by 27.4 percent to RO 6.855 billion...
Business
European telecom firms urge EU to make tech, streaming giants pay
Telecoms giants say that they need more money to maintain and update the infrastructure to meet Europe's voracious data needs,...
Business
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Business
RSI buys stake in First Fix
The company acquires 51 percent stake in First Fix.
- The selling shareholders will receive a deferred sum of US$78.4 million upon the fulfilment of certain relevant conditions.
- Red Sea International will have the option to capitalize debt through the issuance of additional shares in First Fix.
Business
Ducab bags 30 major contracts
The contracts were secured in the oil, gas and petrochemical sector.
- The company said it had produced and supplied more than 10 billion meters of cable products in 2023 alone.
- The company will be showcasing its advanced range of PetroBICC cables at ADIPEC.
Market Report
Global economic concerns hit GCC equity performance
Influenced by global inflation concerns and high rates, Gulf markets faced second consecutive monthly dip in September. Only Dubai and...
- Gulf equity markets experienced a downturn for the second consecutive month in September 2023, reflecting global economic concerns
- While major indices like the MSCI World Index and the S&P 500 saw declines, only Dubai and Qatari markets managed to post gains