Ramadan influences consumer habits, retail strategy
The ongoing fasting month brings traditional practices and modern shopping habits together, impacting market trends significantly in the Gulf region.
Business
Thousands of international companies join Dubai Chamber of Commerce in 2023
Dubai, UAE--A study undertaken by Dubai Chamber of Commerce has revealed that Indian investors topped the list of nationalities of...
Business
Business
Pay only $11 to attend Qatar World Cup game
Qatar World Cup ticket sales were launched at reduced prices on Wednesday with residents and migrant workers able to attend...
- Authorities have not yet announced how many fans will be allowed into stadiums for the first World Cup in an Arab country
- Football's world governing body FIFA opened a draw which offers individual match tickets for as little as $69 for international fans
Business
Saudi PIF joins tripartite pact to produce green hydrogen for export
Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, POSCO and Samsung C&T signed here today a tripartite memorandum of...
- PIF, POSCO and Samsung C&T have signed an MoU on the sidelines of the Saudi-Korean Investment Forum.
- The MoU included the implementation of feasibility studies to develop a green hydrogen production project in Saudi Arabia for export purposes.
Geostrategy
Two day long Water-Food-Energy Summit concludes in Dubai
In order to explore solutions for water, food, and energy challenges, the UAE, Jordan, and the Netherlands wrapped up the...
- The UAE, Jordan, and the Netherlands issued a trilateral declaration affirming their commitment to supporting a nexus approach that optimizes resource use
- The joint statement encouraged governments to incorporate practical solutions to water, food, and energy challenges into policy-making
Business
Dubai issues 72,152 new business licenses in 2021, 59 percent professional
Dubai issued 72,152 new business licenses in 2021, a growth of 69 percent compared to 2020 when 42,729 licenses were...
- Bur Dubai accounted for the largest share (48,562) of new licences issued followed by Deira (23,513).
- A total of 430,921 business registration and licensing transactions were completed in 2021, a growth of 24 percent compared to 2020.
Business
Dubai Airport Show 2022 to showcase digital innovation
Dubai Airport Show 2022, to be held in May, will showcase a diverse range of innovative products and will provide...
- The latest IATA Global Passenger Survey, conducted across 153 countries, revealed passengers expect technology to give them more "personal control over their travel experience"
- Digital queuing and biometric has been viewed as a priority to be implemented to modernize every component of the journey at airports
Business
Turkey is restarting ruptured oil link connecting Iraq
Turkey's state oil operator Botas said the fire at the pipeline had been fully extinguished late on Tuesday, but gave...
- Tuesday's blast along the Kirkuk-Ceyhan link in southern Turkey contributed to a rise in international crude oil prices to a seven-year high
- The pipeline normally carries more than 450,000 barrels a day from oil fields in northern Iraq to a Turkish port on the Mediterranean Sea
Business
Aramco signs 10 Korea deals
The signings took place at the Saudi-Korean Investment Forum.
- The deals aim to advance Aramco’s downstream strategy and support the development of low-carbon energy solutions
- They are also expected to create new financing options for the world’s largest oil and gas company
Business
ExxonMobil to go net-zero by 2050
The net-zero target is only for its operations, not products.
- Chief executive of ExxonMobil confirmed that the company has committed to have a Permian operations at net-zero carbon by 2030
- The company will release "detailed roadmaps" addressing 90 percent of operations-related greenhouse gas emission by the end of 2022
Business
OPEC Fund extends $35m loan to support Vietnam SMEs
The amount will reportedly be given to the Vietnam-based Southeast Asia Commercial Joint Stock Bank (SeABank) for on-lending.
- The money will be used to facilitate access to finance for SMEs and women-owned businesses in Vietnam
- It will also be used to promote climate funding for a sustainable economic recovery in the country
Investigation
Marka: From a star UAE retailer to a bankrupt firm
Flouting norms, massive mismanagement and lack of transparency and corporate governance have potential to take any company the Marka Holding...
- The recent Dubai court decision highlights that the funds of shareholders and creditors should be judiciously used. Else, the law of the land will catch you
- In October 2021, the UAE retail and leisure company Marka was declared bankrupt by a local court, and all of its assets were brought into liquidation
Ramadan influences consumer habits, retail strategy
The ongoing fasting month brings traditional practices and modern shopping habits together, impacting market trends significantly in the Gulf region.
Business
Company News
Latest News
UAE looks to deepening trade relations with ASEAN bloc
Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, led the UAE delegation to Jakarta, Indonesia, the...
Business
Arm seeks $52bn valuation
Arm is a world leader in designing chips that are used in smartphones.
Business
Saudi Arabia and Russia extend oil cuts, Brent crude price up
The Saudi production cut of one million barrels per day which first took effect in July will continue "for another...
Business
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Videos
A glimpse into GCC’s financial evolution
As the winds of change blow, three major forces—regulation, consolidation, and digitization—are shaping the trajectory. These elements intertwine, creating a...
- Driven by regulation, consolidation, and digitization, the region's financial services sector is undergoing a pivotal transformation
- Dive into the TRENDS Explainer video to understand and navigate the evolving landscape of the banking sector across the region
Business
21 agreements and MoUs signed at Saudi-Italian Investment Forum
Milan, Italy -- The Saudi-Italian Investment Forum, jointly organized by the Saudi Ministry of Investment and the Italian Ministry of...
- The 21 MoUs and agreements signed during the Forum encompassed the sectors of energy, clean energy, healthcare, real estate, waste management, technology, and manufacturing.
- In 2022, the non-oil bilateral trade value between the Kingdom and Italy reached approximately SAR 5.6 billion (1.4 billion Euros), demonstrating significant growth potential.
Business
Microsoft gambles big on Hollywood-esque ‘Starfield’ video game
The ever-evolving game is the tech giant's bid to lock players into its Xbox subscription service after some eye-poppingly enormous...
- Reviews praise its epic scale, multitude of interactive stories, engrossing first-person combat and the way it conjured ersatz interactive versions of movie franchises "Star Trek".
- Microsoft is currently trying to get a $75-billion purchase of another studio, Activision Blizzard, past regulators wary of rapid concentration in the sector.