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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Syrian President’s first foreign trip to Saudi Arabia signals Syria’s shift away from Iran’s influence.

Syrian President Ahmed al-Sharaa met Saudi Crown Prince Mohammed bin Salman in Riyadh, marking his first foreign visit and signaling...
  • Al-Sharaa’s visit signals Syria’s pivot away from Iran and closer ties with the Gulf states
  • Saudi Arabia is leading efforts to reintegrate Syria into the regional fold and push for sanctions relief

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.

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.

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

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.

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

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.

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.

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.

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).

Arab states erupt in condemnation after US strikes on Iran

Iran's former arch-rival in the region, Saudi Arabia, which has been engaged in a Chinese-brokered détente with Tehran since 2023,...

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China retaliates with 84 percent tariffs on US products

Beijing, China -- China will impose 84 percent tariffs on US imports, up from 34 percent, the finance ministry said...

Gaza rescuers say 25 killed in Israeli strike on school-turned-shelter

Gaza civil defense spokesman Mahmud Bassal told AFP more than 100 others wounded in the strike on Dar al-Arqam School...

AI’s impact on jobs, technology’s touchy topic sparks unease

New York, United States - "Stop Hiring Humans" read a provocative sign at an AI conference in Las Vegas, where...

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AI to become the new internet: Kamel Al-Tawil on MENA’s tech evolution

Historically, the region was a key player in commerce through the Silk Road, and today, it has the potential to...
  • Investments in scalable infrastructure, subsea networks, and neutral digital hubs are critical for advancing global connectivity.
  • The region is also positioning itself as a major AI hub, supported by investments in AI models and sustainable energy.

Ukraine to propose sky, sea truce at US talks in Saudi: official

The talks on Tuesday will be the first Ukraine-US meeting since a White House blow-up between Zelensky and US President...
  • In Jeddah, the port city close to Islam's holiest sites in Makkah and Madinah, dozens of Ukrainian and Saudi flags flew on a main roundabout near the airport and on thoroughfares.
  • US Middle East envoy Steve Witkoff said Washington wanted to use the talks "to get down a framework for a peace agreement and an initial ceasefire as well".

Arab leaders propose Gaza reconstruction under Palestinian Authority, reject Trump’s takeover plan

The prospect of the Palestinian Authority (PA) governing Gaza remains far from certain, however, with Israel having ruled out any...
  • Tuesday's Arab League summit in Cairo offered an alternative with the adoption of a "comprehensive Arab plan."
  • It announced the establishment of a trust fund to pay for the territory's reconstruction, and urged the international community to back it