The $1.5 billion deal is due to close in early 2025.

Riyadh, Saudi Arabia -- Saudi Arabia's non-oil exports surged by 22.8 percent in September, according to a report by the kingdom's General Authority for Statistics (GASTAT).The September 2024 International Trade Report said national non-oil exports, excluding re-exports, rose by 11.6 percent and the value of re-exported goods increased by 65.4...

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

India's opposition leader demands Gautam Adani's arrest; Kenya scraps airport, power deals with the Group that has significant investments in the Middle East.

For the nine-month period, net profit increased by 73.3%.

The subscription will close on 27 Nov for UAE retail investors.

San Francisco, United States - TikTok on Thursday began letting all marketers on its platform use an artificial intelligence-powered tool for generating marketing clips, becoming the latest platform to let advertisers tap into the technology.The news came with word that Getty Images will make its stockpile of pictures and video available...

The company's third-quarter profit increased by 8.8 percent.

The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.

London, United Kingdom -- Bitcoin soared to a new record high on Sunday, as traders bet that Donald Trump's return to the White House will be good for the cryptocurrency.The digital currency passed $80,000 for the first time in its history shortly after 12:00 pm (1200 GMT).It has been rising since...

The record profit is subject to new 9% corporate tax for the first time.

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 quarterly...

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 customer...

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, was...

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 in...

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 also...

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 gaming...

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 value,...

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 for...

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 July...

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, signed...

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 2030.These...

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 Europe's...

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 on...

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.The...