Stable credit conditions make GCC firms resilient
Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a...
Business
Business
Facebook loses shine, decade after its stock debut
The likes of TikTok, LinkedIn, Pinterest, Twitter and even Apple now vie with Meta for people's online attention as Facebook...
- Facebook remains the biggest social media platform with 2.94 billion monthly users
- But like other free online platforms, Facebook makes its money from ads targeted at people's interests
Business
e& buys stake in Vodafone
It bought a 9.8% stake for $4.4bn in the British firm.
- Formerly known as Etisalat, the company has acquired around 2,766 million shares in Vodafone Group
- The transaction comes in line with the telecom company’s efforts to become a global player in the field and increase its exposure to international markets
Business
Workplace diversity is both cultural & business issue
One of the biggest challenges for women in the GCC is the lack of possibilities in the workplace, Novonda founder...
- Companies must make sure to have a diversity-friendly personnel policy and HR practices, says Novonda founder Jean-Pierre Calvez
- Digitalization and flexible working strategies have been crucial for the workforce, he adds
Business
Sanctions-hit Iran considering gas exports to Europe: official
Iran is considering the possibility of exporting gas to Europe, an oil ministry official said Sunday against the backdrop of...
- Russia's invasion of Ukraine in February sent global oil and gas prices soaring, with many European countries dependent on energy imports from Russia.
- Tehran and Baghdad had signed a memorandum of understanding a few weeks ago that will see the country increase gas exports to Iraq.
Business
PIF launches Saudi Coffee Company
The Public Investment Fund (PIF) today announced the launch of the Saudi Coffee Company. The company is established to enable...
- The launch of the Saudi Coffee Company aligns with PIF’s strategy, which focuses on developing and enabling 13 promising sectors
- The Saudi Coffee Company’s primary goal is to ensure the national coffee industry is enabled along its entire value chain, from bean to cup
Business
Tech titans curb hiring in a ‘challenging macro environment’
From e-commerce colossus Amazon to social networking star Facebook, US tech firms that once grew with abandon have reined in...
- Twitter confirmed that it has flat-out suspended hiring, and even showed a few senior executives the exit, as it faces a takeover by Elon Musk, the richest person on the planet.
- Amazon, the second largest employer in the United States, revealed that its ranks are overly plump after ending last year with more than twice as many workers as it had in 2019.
Interview
GCC firms should focus on digital change: QIB chief
Bassel Gamal, the Group CEO of Qatar's second-largest bank, tells TRENDS that leaders should empower their employees to make decisions.
- "Today, all GCC economies are recovering from the pandemic thanks to higher oil prices, supporting government spending and normalizing business activity."
- "The leadership has shifted towards a more collaborative approach, fostering teamwork, productivity, innovation and creativity."
Business
Aramco Q1 profit up 82%
Surge in oil prices benefited the world's most valuable company.
- Aramco's net income of $39.5 billion was up from $21.7 billion in 2021, "primarily driven by higher crude oil prices and volumes sold, and improved downstream margins."
- The latest financial results were published four days after Aramco dethroned Apple as the world's most valuable company, with shares worth $2.42 trillion
Business
Talent war biggest business challenge: CBD head
Commercial Bank of Dubai CEO Dr. Bernd van Linder tells TRENDS that today’s business leaders must not only be consummate...
- “Although I have always been a firm believer in participative leadership, it is clear to me that business leadership is now less hierarchical and involves even more participation.”
- “To drive innovation, one of the key measures that leaders need to focus on is to encourage employees to take risks without the fear of failure.”
Business
UAE, Saudi stock markets slide as inflation concerns rise
The UAE and Saudi stock exchanges posted losses this week, taking cue from the world markets that fell in reaction...
- Saudi Stock Exchange index fell by 4.1% to finish the week at 12835.30 points
- Dubai and Abu Dhabi stocks faced losses this week
Most Read
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
Stable credit conditions make GCC firms resilient
Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a...
Business
Company News
Bank Albilad H1 profit up 14%
Business
Latest News
Iran foreign trade posts 4.84% jump to US$54.6bn in last six months
Tehran, Iran-- Iran's foreign trade has registered a 4.84 percent jump to $54.6 billion between March and September this year....
Business
Ubisoft banks on a reset with latest ‘Assassin’s Creed’
The latest entry in the wildly popular "Assassin" franchise is released Thursday, to be followed in December by a game...
Trump business empire under threat as fraud trial opens
Donald Trump intends to be present for the start of the trial on Monday morning as a civil fraud trial...
Business
Most Read
Business
Libya and Italy sign MoU to boost cooperation in civil aviation
Tripoli, Libya--Libya and Italy have signed an agreement to enhance cooperation to enable air transport companies to operate charter and...
- In September, a Rome-bound aircraft departed from Tripoli restarting flights to Italy after a nearly decade-long suspension due to an EU ban
- The agreement looks to boost cooperation between air transport companies to operate charter and regular flights between the two countries
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
Geostrategy
Saudi Arabia, Pakistan ink pact on digital transformation, innovation
RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia signed a memorandum of understanding (MoU) with Pakistan here on Sunday...
- Under the terms of the MoU, Saudi Arabia and Pakistan will strengthen their SME and start-up ecosystems.
- They will cooperate on policies, regulations and legislation in the digitization and electronic manufacturing sectors.