Digital transfers reshape MENA’s financial landscape
The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong...
British Airways profit soars six-fold
The company said it was 92% booked for the first quarter of 2024.
Research
Soaring global urban tech market to benefit KSA: Mastercard report
The paper has shone a spotlight on how Saudi Arabia’s e-government, tourism, healthcare, and transit sectors stand to benefit from...
- The paper has shone a spotlight on how Saudi Arabia’s e-government, tourism, healthcare, and transit sectors stand to benefit from the smart city revolution in the Kingdom
- The paper highlights 5G, Wi-Fi 6, cloud computing, virtual reality and geospatial technology as focus areas for digital infrastructure to develop cities
Interview
Regional brands may fill gaps in activewear market
Succeeding for a female entrepreneur in an industry dominated by men is a tough task but can be achieved, says...
- It was now or never for the Arab entrepreneur Nathaly Daou who launched her activewear brand NatUsual soon after 2020 Beirut blasts
- Daou had to navigate many roadblocks to not only launch but protect the brand at a time when many went out of business
Opinion
Tips for family businesses in private equity model
Unlike many family businesses, successful private equity owners do not wait and hope for everything to go according to plan. ...
- Private equity firms regularly update the overall strategy and plans of their portfolio companies based on transparently shared info about the business and the market changes.
- Also, successful private equity owners always have a Plan B in place to respond to performance screwups and changes in the business environment quickly and decisively.
Business
Saudi deposits $5bn in Egypt, plans to invest double: State media
The Egyptian and Saudi governments have signed a draft agreement for Saudi investments in the country totaling a projected $10...
- The announcements come as the North African country enacts a slate of financial measures to mitigate the economic fallout of Russia's invasion of Ukraine.
- As the world's largest importer of wheat, Egypt relied on the two countries for 85 percent of its supply, as well as 73 percent of its sunflower oil.
Business
Evergrande to sell stake
The developer would sell the Crystal City Project in Hangzhou for 3.66 bn yuan.
- Its total liability is now $300 billion as the company has struggled to repay its investors and bondholders.
- The company has said said it would finish projects and deliver them to buyers in a desperate bid to salvage its debts.
Business
German businesses urged to explore investment opportunities in Sharjah
The Sharjah Chamber of Commerce and Industry (SCCI) has called on German businessmen and investors to explore investment opportunities within...
- A German business delegation attended a forum organized by the Sharjah Chamber of Commerce and Industry.
- Gulf Cooperation Council (GCC) countries are the seventh-largest export destination for German industry outside Europe.
Business
Dubai Municipality to tap into Metaverse gains in pursuit of futuristic goals
Dubai Municipality will work with private sector companies and investors to create a futuristic, human-centered version of the city that...
- As the next big market opportunity, the metaverse could provide nearly US$800 billion in revenue by 2024, Bloomberg Intelligence estimates show.
- The city would provide simulated time travel to historic moments, or immersive tours of landmark destinations, Dubai Municipality said.
Arts & Culture
Opponents bury FIFA’s biennial World Cup campaign
The biennial World Cup has been left off the agenda of FIFA Congress in Doha, with only changes to the...
- An idea to enlarge Europe's League of Nations to take in South American countries has also been mooted.
- FIFA launched a massive campaign to persuade its members that a World Cup every two years would bring them extra cash and prestige.
Business
UAE’s first crypto exchange BitOasis gets provisional nod from VARA
BitOasis, a UAE-based Virtual Asset Service Provider (VASP), said on Wednesday it has received provisional approval from Dubai’s Virtual Assets...
- In the meantime, the company said it will undertake the process of applying for a license in accordance with the VARA requirements.
- To date, the company has transacted over $4bn in virtual asset transactions on its platform, with approximately $1.7bn being transacted in 2021.
Business
$1.59 bn worth of deals signed on Day 3 of Global Entrepreneurship Conference
On the third day of the Global Entrepreneurship Congress (GEC) in Riyadh, SAR 6 billion ($1.59 bn) worth of agreements...
- The Small and Medium Enterprises Financing Guarantee Program “Kafalah" signed a number of agreements with a number of ministries as well as public and private sector institutions.
- Monsha'at) also signed various cooperation agreements and launched National Industrial Development and Logistics Program “Thousand Mile” Initiative.
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
Digital transfers reshape MENA’s financial landscape
The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong...
Company News
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Verition opens office in DIFC
Business
UAE and Serbia hold discussions on signing of CEPA
In order to boost trade and investment flows and private-sector collaboration, the UAE and Serbia have begun talks on Comprehensive...
Economy
Abu Dhabi council review budget, sports development
Abu Dhabi, UAE - Abu Dhabi Sports Council discussed business developments and plans for developing the sports sector here, local...
Business
Real estate transactions in Ajman totaled US$408m in August
AJMAN, UAE – Real estate transactions in August achieved a growth of 61.5 percent compared to the same period in...
Business
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Business
Erdogan invites Musk to establish his next Tesla factory in Turkey
"President Erdogan called on Tesla to establish its seventh factory in Turkey," the Turkish leader's office said.
- Erdogan and Musk have held a series of meetings, developing a seeming friendship that they extended on Sunday in New York.
- Local reports said said Musk told Erdogan that his country was "among the most important candidates" for the new factory
Infographics
Aramco, IHC among biggest companies in Middle East
Energy, banking and financial services, and industrial sector companies are among the largest in the Middle East, especially the Gulf...
- High representation of these sectors is due to the region's rich oil and gas reserves and its growing population and economies.
- The Middle East is also home to a number of other significant industries, such as tourism, healthcare, and education.
Business
DAE closes $1.6 billion loan
DAE said this is the company's largest ever loan facility.
- The facility enabled DAE to tap the Islamic banking liquidity and consolidate its existing banking relationships in the Middle East, Asia, North America, and Europe, it said.
- Proceeds from the facilities will support the future financing needs of the business and refinance a maturing credit facility.