Israel security chief accuses PM of demanding personal loyalty
Israel's internal security chief, whom the government is trying to sack, accused Prime Minister Benjamin Netanyahu Monday of demanding personal...
Geostrategy
Russia to hold talks with US in Riyadh Monday: Kremlin
Donald Trump spoke to both Russia's Vladimir Putin and Ukraine's Volodymyr Zelensky this week and the US is also due...
Geostrategy
Business
UAE most attractive Arab destination for auto investment, business
Kuwait -- The UAE has topped the Arab list as the best and most attractive destination for investment and business...
- The automotive sector in Arab countries attracted 184 foreign projects valued at more than $25 billion, providing more than 102,000 jobs.
- Five countries: Saudi Arabia, the UAE, Algeria, Morocco and Kuwait had around 75 percent of overall vehicle sales in the region by the end of 2024.
Business
SIB’s 2024 profit $272m
The profit surpassed AED 1 billion for the first time in bank's history.
- The bank's net profit before tax increased by 36.5 percent, reaching AED1.15 billion.
- The bank saw a significant increase of 45.3 percent in fee and commission income, reaching AED400.4 million
Business
GCC leaders explore regional growth and opportunity at Doha investment meet
The burgeoning creator economy presents an unprecedented opportunity for GCC to outpace global cities and establish itself as the epicenter...
- The event was organized by The Business Year (TBY), a media group that has been providing investors and governments with first-hand insights into the world’s most dynamic markets.
- Attendees and panelists delved into comprehensive discussions that paved the way for an evening of cross-border knowledge sharing.
Geostrategy
WEF’s risks report 2025: Rising geopolitical tensions, environmental threats, disinformation dominate future threats
A survey of over 900 experts reveals state-based armed conflict as the most pressing global risk for 2025, driven by...
- A late 2024 survey of over 900 global risks experts, policymakers, and industry leaders identifies state-based armed conflict as 2025's top risk
- Extreme weather events, societal polarization, and cyber-espionage also rank prominently, underscoring a landscape fraught with challenges
Economy
Global economy set to face significant challenges in 2025: WEF survey
Geneva, Switzerland – The global economy is set to face significant challenges in 2025, with 56 percent of chief economists...
- Only 17% of chief economists foresee an improvement, pointing to heightened uncertainty in key regions and the need for measured policy responses worldwide.
- Europe continues to rank as the weakest region for the third consecutive year, with nearly three-quarters (74 percent) expecting weak or very weak growth.
Business
AD Ports to invest in Kazakh port
Under the deal, AD Ports Group owns 51% stake.
- Sarzha Grain Terminal will see a total investment of just over US$50 million over the two phases, with AD Ports Group contributing around US$30 million.
- With phase 1 scheduled for completion in the second half of 2026, Sarzha Grain Terminal is set to enhance global food trade.
Business
Fifth Aramco facility receives WEF Global Lighthouse Network tag
Dhahran, Saudi Arabia -- Aramco's North Ghawar Oil Producing Complex has become the company's fifth facility to be added to...
- Aramco said that only industrial sites that successfully deploy 4IR technologies at scale are admitted to the prestigious network.
- WEF said UAE's EGA, named End-to-End Value Chain Lighthouse, undertook a 4IR transformation to further increase its cost-competitiveness.
Business
PIF acquires stake in Saudi Re
The acquisition was made by way of a capital increase.
- PIF said in a statement that the capital investment aims to enhance Saudi Re’s growth potential by adding to its financial capacity and further strengthening its credit rating.
- In the first nine months of 2024, Saudi Re's total written premiums reached SAR 1.94 billion ($520 million).
Business
Non-institutional foreign ownership in Tadawul-listed firms up slightly
Riyadh, Saudi Arabia -- Non-institutional foreign investors increased their stake in Tadawul-listed equities, excluding Saudi Aramco, from 9.70 percent to...
- The ownership increased from 9.70 percent to 9.72 percent, equivalent to SAR 334.55 billion, during the week ending January 9.
- GCC investors’ ownership in Saudi equities, excluding Saudi Aramco, declined from 2.27 percent to 2.18 percent of the total market capitalization.
Geostrategy
Cyber landscape complexity deepens cyber inequity, gap between organizations: WEF report
The complexity arises from the rapid growth of emerging technologies, prevailing geopolitical uncertainty and the evolution of threats, says WEF's...
- The complexity arises from the rapid growth of emerging technologies, prevailing geopolitical uncertainty and the evolution of threats.
- It also arises from regulatory challenges, vulnerabilities in supply chain interdependencies and the growing cyber skills gap, the report said.
Israel security chief accuses PM of demanding personal loyalty
Israel's internal security chief, whom the government is trying to sack, accused Prime Minister Benjamin Netanyahu Monday of demanding personal...
Geostrategy
Company News
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Iran ready to negotiate with US but not under ‘maximum pressure’: minister
In 2015, Iran struck a landmark deal with the United States, France, Germany, Britain, China and Russia to regulate its...
Geostrategy
Trump doubles down on Gaza shock plan, says Israel will turn over the territory to US
Trump said that by the time of the handover, Palestinians "would have already been resettled in far safer and more...
Geostrategy
Morgan Stanley sees upswing in MENA M&A deal volumes and values
After a challenging year where M&A activity in the Middle East and North Africa took a tumble, Morgan Stanley forecasts...
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Business
Dubai’s real estate sector records $207 billion in transactions in 2024
Dubai, UAE -- Dubai’s real estate sector recorded a total of 2.78 million procedures in 2024, the highest in its...
- Real estate transactions alone totaled 226,000, a remarkable 36 percent growth in volume and 20 percent growth in value year-on-year.
- The sector recorded 217,000 investments valued at AED526 billion, reflecting impressive growth rates of 38 and 27 percent in number and value respectively.
Business
UAE most attractive Arab destination for auto investment, business
Kuwait -- The UAE has topped the Arab list as the best and most attractive destination for investment and business...
- The automotive sector in Arab countries attracted 184 foreign projects valued at more than $25 billion, providing more than 102,000 jobs.
- Five countries: Saudi Arabia, the UAE, Algeria, Morocco and Kuwait had around 75 percent of overall vehicle sales in the region by the end of 2024.
Business
SIB’s 2024 profit $272m
The profit surpassed AED 1 billion for the first time in bank's history.
- The bank's net profit before tax increased by 36.5 percent, reaching AED1.15 billion.
- The bank saw a significant increase of 45.3 percent in fee and commission income, reaching AED400.4 million