The proceeds make it the largest UAE IPO of 2024 to date.

Riyadh, Saudi Arabia -- Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third-quarter profit on Tuesday, citing prices which have stayed low despite production cuts and war in the Middle East. The fall in net income to $27.56 billion from $32.58 billion in 2023 is the seventh consecutive...

As IoT protocols evolve, companies are building robust infrastructure to support applications across sectors, from asset tracking in logistics to intelligent lighting in cities. This connectivity reshapes industries, powering smarter, more sustainable solutions for modern challenges.

Unlike other automation platforms that redirect customers to third-party websites, Altegio keeps booking processes within the client’s own ecosystem.

The company said this was a 54.9 percent YoY increase in net profit.

35 percent of CEOs worldwide identify #inflation as the most critical #economic issue facing their countries, followed by boosting #consumer #confidence, a global CEO report said

Abu Dhabi, UAE -- The UAE has witnessed a 37% increase in greenfield investments in 2023 to reach US$16 billion, driven mainly by business services and software and IT Services, which created a significant number of jobs and attracted substantial capital, said Mohammed Abdul Rahman Al Hawi, Under-Secretary of the...

Twice a month, TRENDS MENA's Opinion Hub will deliver exclusive insights from top travel, tourism, aviation, and hospitality leaders in the Middle East and Africa.

San Francisco, United States - Microsoft on Monday said it was enhancing its AI offerings with new autonomous agent capabilities as the tech titan aims to accelerate business adoption of artificial intelligence. AI agents are specialized programs designed to perform routine tasks autonomously, such as sifting through sales leads or handling...

Royal Catering has more than 2.500 employees.

The new entity will address growing staff accommodation demand.

Riyadh, Saudi Arabia -- More than 65 agreements and Memoranda of Understanding worth SAR 16 billion were signed at the inaugural edition of the Global Logistics Forum 2024 that was held in Riyadh from October 12 to 14. The forum, inaugurated by Minister of Transport and Logistic Services Saleh Al-Jasser,...

Paris, France - For supporters, biodiversity credits could unlock billions in much-needed funding for nature, but critics fear a repeat of scandals that have dogged other financial approaches to protecting the environment. Paying to safeguard tropical rainforests or compensate for habitat destruction is an area of growing interest, and trading credits...

According to the organization's October report, the total world oil demand is anticipated to reach 105.6 mb/d in 4Q-24, to average 104.1 mb/d in 2024, bolstered by strong air travel demand and road mobility, including trucking, as well as healthy industrial, construction and agricultural activities, primarily in non-OECD countries, added...

The aviation giant has projected a large third-quarter loss.

Riyadh, Saudi Arabia-- A signing ceremony for Riyadh Season 2024 sponsorships was held on Thursday at Via Riyadh. General Entertainment Authority (GEA) Chairman Turki bin Abdulmohsen AlalShikh and Minister of Tourism Ahmed Al-Khateeb signed a sponsorship agreement with the Saudi Tourism Authority as an official partner of the season. AlalShikh...

AviLease had purchased 13 aircraft from Avolon in 2023.

This is equivalent to 6.78 fils per share, the company said.

Dubai, United Arab Emirates -- US casino operator Wynn has received the first commercial gaming operator's license to be issued in the United Arab Emirates where gambling is currently banned. The license was issued by the General Commercial Gaming Regulatory Authority, which was set up last year to allow for commercial...

With more than 300 luxury rooms, three dining concepts, and various facilities, the hotel will merge global luxury with Madinah’s cultural essence

The deal values German chemicals group at $13.3bn.

Abu Dhabi, UAE -- Abu Dhabi's GDP increased by 4.1 percent during the second quarter of 2024, compared to the same period in 2023, according to the preliminary estimates revealed by the Statistics Centre – Abu Dhabi (SCAD). SCAD data said Abu Dhabi's GDP continued to record growth in total...

Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal that could shake up Australia's Qantas-dominated market. Under the plan, Qatar would take a minority stake in Virgin for an undisclosed sum. The firms said it would spell more direct...

Abu Dhabi, UAE -- Net investments by foreigners and institutions in UAE equities amounted to AED 18.3 billion ($4.9 billion) as a result of purchases during the first nine months of this year, distributed by AED 15.6 billion in the Abu Dhabi market and AED 2.64 billion in the Dubai...

Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector, particularly the leisure and holiday segments, witnessed substantial growth in 2024.In a statement marking World Tourism Day, observed every year on September 27, the ministry said that the Kingdom welcomed 17.5 million international tourists between January and July 2024, a 10 percent...

Abu Dhabi, UAE -- The UAE cinema sector achieved revenues of AED 517 million during the first eight months of this year, attracting about 11 million visits to cinemas, the Emirates Media Council revealed. Mohammed Saeed Al Shehhi, Secretary General of the Emirates Media Council, said that the UAE accounts...

Riyadh, Saudi Arabia -- Saudi Arabia's non-oil exports, including re-exports, during July 2024 amounted to SAR25.4 billion ($6.76 billion), compared to SAR21.3 billion during July 2023, an increase of SAR4.1 billion, or 19.2 percent, according to the kingdom's General Authority for Statistics (GASTAT). The value of merchandise exports increased during...

Brussels, Belgium -- The European Commission gave the green light Tuesday for an Emirati group to acquire the assets of a Czech telecom operator -- after it agreed not to use foreign subsidies to distort competition in the EU. Emirates Telecommunications (e&), whose majority stakeholder is the United Arab Emirates government,...

The deal is estimated to be valued at $1.4 billion.

The 30% general wage hike improves upon the 25% in the earlier offer.

The total dividend for 2024 is expected to be $700 million.

While Europe and Americas have nearly returned to pre-pandemic levels, the Middle East's growth outpaces all other regions, UN World Tourism Organization says.

The banking sector in the country maintained strong capital adequacy, exceeding Basel 3 requirements, according to the Central Bank.

London, UK -- The Middle East is moving towards investing $75.63 billion in renewable energy projects until 2030, according to a new report. The report, released today by the Energy Industry Council, showed that these investments include 116 renewable energy projects, which are expected to be operational between 2025 and...

Brussels, Belgium -- Outside an Audi factory in Brussels described by the German carmaker as the "cradle" of its electric drive, around 200 picketing workers huddled around a bonfire in the morning drizzle. The firm is considering closing the plant, a move that analysts say is symptomatic of the troubles afflicting...

Abu Dhabi Energy Services will be renamed as TAQA Services.

Montreal, Canada -- The General Civil Aviation Authority (GACA) and Volar Air Mobility have signed a Memorandum of Understanding (MoU) to develop the UAE's first Green Aviation Technology Hub, marking an important step in the country's efforts towards environmental sustainability and aviation innovation. "The signing of the MoU took place...

More data this week suggesting the Federal Reserve was winning the battle against inflation provided an extra kick for global equities after recent drops caused by worries of a possible US recession. Wall Street shares were up near midday deals while European markets closed in the green, a day after...

Riyadh, Saudi Arabia -- Aramco Digital Company and Groq, a leader in artificial-intelligence (AI) inference, have announced their partnership to establish the world's largest inferencing data center in Saudi Arabia. The announcement was made on the sidelines of the Global AI Summit (GAIN Summit), which concluded in Riyadh on Thursday....

Dubai, UAE -- Dubai Corporation for Tourism and Commerce Marketing (DCTCM) has confirmed that 25 percent of visitors to Dubai are repeat visitors, reflecting their satisfaction with the experience the city has to offer. Speaking at a keynote session on the second day of the Dubai AI and Web 3...

The property website said the bid was undervalued.

Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) revealed that total banking assets, including bank acceptance certificates, rose to AED 4.31 trillion ($1.16 trillion) at the end of June, a month-on-month increase of 0.5 percent, compared to AED 4.28 trillion in May 2024. In a report entitled "Monetary...

Tourism is a major contributor to the Kingdom's economic diversification efforts, the IMF notes in its 2024 Article IV Consultation report. Tourism revenues reached $36 billion in 2023.

Abu Dhabi, UAE -- The market capitalization of the top 20 listed companies in the local stock markets by market capitalization reached AED 2.8 trillion ($762.44 billion) by the end of this week, while further growth is expected in line with the markets' plans to double their market capitalization to...

Since US Federal Reserve Chairman Jerome Powell stated last month that the time for interest rates to begin coming down and the pace would depend on economic data, investors have been keenly awaiting the latest jobs numbers. Dismal July job figures caused markets to panic last month.

Beginning in January 2025, the measure will place a minimum tax of 15 percent on revenues over 750 million euros ($830 million) generated in the country, the Bahrain News Agency (BNA) reported. The move aligns Bahrain with the standards of the Organization for Economic Co-operation and Development (OECD) which spearheaded the global...

Doha, Qatar -- A large new solar plant planned in Qatar will double the Gulf emirate's previously projected renewable energy capacity by 2030, Qatari Energy Minister Saad al-Kaabi announced on Sunday. The photovoltaic farm, which will be built in the Dukhan area some 80 kilometers (50 miles) west of the capital...

Paris, France - Russian-born tech entrepreneur Pavel Durov has founded wildly popular social networks, cryptocurrencies, amassed a multi-billion-dollar fortune and locked horns with authorities, in Russia and around the world. Still a few months shy of his 40th birthday, the man once dubbed the "Russian Zuckerberg" after Facebook founder Mark Zuckerberg...

Paris, France -- US shares fell marginally and European stock markets mostly inched higher Wednesday as investors cautiously awaited the latest earnings results from US chip giant Nvidia, a bellwether for the tech sector. Traders are also waiting for key US economic data later this week that could provide clues about...

Hong Kong, China -- Chinese e-commerce giant Alibaba said Friday it would upgrade its Hong Kong-listed shares to primary status, opening it up to China's huge army of investors that could potentially rake in billions of dollars for the firm. The decision by shareholders during its annual general meeting Thursday will...