Global challenges hit M&A activity in Middle East, GCC
Sovereign Wealth Funds emerge as pivotal players, driving economic diversification and strategic cross-border partnerships, says Riccardo Molinari of Bain &...
Business
Saudi solar company ALUPCO partners with Mexico-based Array technologies
Riyadh, Saudi Arabia - Saudi Arabian aluminum extrusion company Aluminum Products (ALUPCO) has entered into a strategic collaboration with Array...
Business
Business
‘Swissleaks’ investigation targets Credit Suisse bank
A cross-border media investigation broke Sunday claiming that Switzerland's second-largest bank had held tens of billions of dollars of ill-gotten...
- A cross-border media investigation broke Sunday claiming that Switzerland's second-largest bank had held tens of billions of dollars of ill-gotten funds
- Credit Suisse rejected the "allegations and insinuations" in a statement Sunday, saying that many of the issues raised were historical, some dating back as far as the 1940s
Analysis
Covid-19 shakes up GCC’s in-demand job profiles
Now, the fastest-growing job profiles in the GCC include a mix of both pandemic-resultant and non-pandemic-resultant positions.
- Traditional jobs such as healthcare personnel and core corporate operations are still in high demand around the world
- Employment rates in the Gulf region have risen by 40% annually, thanks to the UAE and Saudi Arabia
Opinion
Gulf travel industry rides on frequent innovations
While biometric identity management systems have helped improve the pandemic-like situation to some extent by enabling officials at border gates...
- Adoption of advanced technologies for border control management have their share of risks. Also, the integrity of data sets can be corrupted through targeted attacks.
- The biometric identity management systems have helped improve the pandemic-like situation to some extent by enabling officials at border gates to identify passengers at faster rate
Business
Jordan apprises US delegation of trade opportunities in kingdom
A workshop held by the JCC and working meetings with a number of ministers and representatives of official entities, universities...
- The joint cooperation is to support economic cooperation, scientific research and joint business development
- The delegation met King Abdullah, and was briefed on trade and investment opportunities in the Kingdom
Business
Nahdi posts $226million profit
The Jeddah-based pharma retailer plans to float 30 percent of its capital.
- The Jeddah-based pharma retailer made revenues of SR8.6 billion ($2.3billion) during the year
- Nahdi currently operates over 1,150 pharmacies across the Kingdom and a rising number in the UAE
Videos
GCC startups begin 2022 on a promising note
Digital economy has driven the startup investment upsurge in the MENA region in 2021.
- In 2021, more than 50 per cent of the world’s private investment funding went to startups in the United States.
- The other four top countries with the most private funds invested are China, the UK, India and Germany.
Business
Iranian teachers protest in many cities for better salaries
Thousands of Iranian teachers have protested in more than 100 cities against delays in salary and pension reforms, a local...
- The teachers have for months demanded that the government speed up the implementation of reforms that would see their salaries better reflect their experience
- The demonstrators have also demanded that their pensions be aligned with those of other public sector employees
Business
Kamco Invest net profit $34m
Total revenue nearly doubles to reach $99.5m in 2021.
- Revenues from fees and commissions increased by 34.3 percent compared to 2020 to reach KWD20.2m.
- The company said it raised over $1.1 billion for several products and transactions, distributed around $235mn to clients.
Business
HMG records 30% spike in profit to $367m
Dr. Sulaiman Al Habib Group, a private health service provider in Saudi Arabia, has posted a 30 percent increase in...
- The company's sales soared to SR7.25 billion, jumping 23 percent year-on-year in response to a growth in the hospital segment and higher patient occupancy
- its board recommended the distribution of SR245 million in cash dividends to 350 million eligible shares at SR0.7 per share for the fourth quarter of the fiscal year 2021
Business
Arriyadh Development of KSA posts 40% jump in net profit
Arriyadh Development Co. posts a forty percent jump in net profit to $85 million for 2021.
- Results were derived from the associate company's business, as well as the increase in operating and rental revenues
- The company will distribute cash dividends of SR88.8 million to the shareholders for the second half of 2021
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
Global challenges hit M&A activity in Middle East, GCC
Sovereign Wealth Funds emerge as pivotal players, driving economic diversification and strategic cross-border partnerships, says Riccardo Molinari of Bain &...
Business
Company News
Latest News
Qantas CEO steps down early as airline falls out of favour
Irish-born Joyce has been in charge for close to 15 years, often delivering bumper profits for shareholders and safeguarding the...
Real estate exchange transforms Saudi market
The stock exchange offers indices, real estate services, and wealth management. It ensures supply-demand balance, and swift transactions, while delivering...
Business
Turkish Airlines orders 10 A350 Airbus
The airline disclosed no financial details in a statement.
Business
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Business
Mubadala, Petrobras sign MoU
The two parties will explore potential investment in a biofuel project.
- The biofuel project currently being developed by Mubadala Capital in the State of Bahia, Brazil.
- The MoU builds on biorefinery project to produce renewable diesel and sustainable aviation fuel derived from Macauba, a native Brazilian crop.
Business
Qatar tourist arrivals surge on post-world cup momentum
Doha, Qatar -- More than 2.56 million people visited Qatar from January to August 25, which is more than the...
- This number surpasses the full-year arrivals in 2022 and marks a 157 percent increase over the same period last year.
- Immediately after the FIFA World Cup Qatar 2022, Qatar Tourism launched its 'Feel More in Qatar' global campaign.
Business
Emirates NBD invests in Komgo
The equity investment was made by Emirates NBD's Innovation Fund.
- Emirates NBD's corporate venture capital arm will enable the Group to invest in tech start-ups and companies supporting its digital strategy.
- Komgo has diverse customer base that includes more than 200 multinational corporations and global trade banks.