The Saudi Egyptian company bought stakes worth $1.3bn.

However, there are numerous economic sectors where tech penetration remains in its infancy, such as in logistics, e-commerce and supply chains, which retain enormous growth potential irrespective of recession risks, and in many cases can be accelerated by cost concerns, Deschamps adds.

The Central Bank of the UAE (CBUAE) has decided to increase the debt burden ratio of the beneficiaries of home finance of the Sheikh Zayed Housing Program (SZHP) from 50% to 60%.

The agreements cover logistics and transportation, renewable energies, manufacturing, environment services, aquaculture, defense, trade, engineering and agriculture.

Dubai Chamber of Commerce achieved record growth in new membership in the first half of 2022 as more than 21,000 companies joined the Chamber during the period, bringing total membership to over 308,000. An 80 percent year-over-year (y-o-y) surge in new members was recorded between January and June 2022 as...

For businesses who feel they have no choice but to pay cybercriminals in order to unlock their files, they not only put their money at risk, but also put their reputation at stake. Thus, a robust cybersecurity strategy as well as having an insurance policy against data breaches should be...

There will be some volatility in the sector for a long time to come because it is an early-stage market, says Valerie Hawley, Affiliate Founding Partner at True Global Ventures 4 Plus.

Over 1,600 new African member companies have registered with Dubai Chambers since October 2021, growing 6.5 percent to reach 26,420 today, the Chambers said. In October 2021, the Chamber hosted the sixth edition of the Global Business Forum Africa (GBF Africa) on the sidelines of Expo 2020 Dubai – a...

Listed public joint stock companies have approved AED 34.4 billion ($9.36 billion) cash dividends for 2021, according to the Securities and Commodities Authority (SCA)'s Annual Report 2021. The figures released indicated that up to AED34 billion earnings were distributed in cash while AED396 million were in form of stock dividends....

The accords were related to "infrastructure, logistical services, port management, agri-foods, the pharmaceutical industry, fossil fuels and renewable energy, and cybersecurity" and were worth $7.7 billion, Egyptian daily Al-Ahram said.

An integrated, modern, end-to-end solution can provide SMBs with more visibility, flexibility and efficiency in managing finances, operations and people. Cloud-based solutions, for example, help them access the benefits of an end-to-end solution without much complexity or high expenses, he adds.

The two countries will celebrate 50 years of diplomatic relations in 2023, which includes organizing events like car exhibitions, and promoting investments in hospitality and real estate.

The most successful active owners keep a ‘Plan B’ ready. Many real-life structural and organizational conditions need to be in place to enable strategy optimization. A constructive board of directors, including vocal independent members and experts, is an indispensable ally of the active owner, he adds.

Major French companies have expressed their interest in accessing the Saudi market and investing in the tourism and entertainment market at a time the kingdom’s focus on these sectors has become an important part of its transformative Vision 2030. These remarks were made at a meeting between the Federation of...

How can companies effectively navigate zero trust without creating friction among employers and employees? And how do they get there without the luxury of trust-building exercises in the close quarters of an in-office environment? Vega offers a few solution to deal with the crisis.

Although the last several months have been hard for listed businesses in the Middle East, yet many have defied the dire predictions to dominate capital markets.

Australian businesses in the UAE grew six fold and the number of Australians in the Emirates nearly four fold since the country’s diplomatic mission was opened in 2004, Australia’s Governor-General David Hurley said. "Australia had a diplomatic presence in the UAE since 2004. Since then, until 2022, diplomatic relationship has...

One of the biggest challenges for women in the GCC is the lack of possibilities in the workplace, Novonda founder Jean-Pierre Calvez tells TRENDS.

Egyptian Prime Minister Mostafa Madbouli announced Sunday a string of planned privatisations of state-owned companies, as Cairo grapples with an economic crisis and inflation at almost 15 percent. Following years of accusations of state companies crowding out private investments, the government announced a roadmap on Sunday to more than double...

New business models must be developed to take advantage of the metaverse's technology, says Fadi Kassatly, Partner, Enterprise Systems and Cloud Solutions Leader at KPMG. The biggest challenge appears to be that metaverse is not ready yet for the masses to digest immediately across different impactful use cases. A lot...

Dubai has set up a $100 million venture capital fund in order to provide financial support to fintech startup companies. The fund, scheduled to be launched in June 2022, was approved by Crown Prince of Dubai, Sheikh Hamdan bin Mohammed, after a meeting with the executive council.

More than 10,000 companies joined Dubai Chamber of Commerce as members during the first quarter of 2022, marking a 64 percent year-over-year growth in new membership for the same quarter in 2021. Member exports and re-exports saw 11.3 percent growth over the same period last year, while their value reached...

For the first time, direct investments supervised by Qatar Development Bank in SMEs has exceeded QR 100 million ($27 million). The total amount of direct and indirect investments in the bank’s portfolio has reached QR 220 million, supporting nearly 100 companies operating and providing highly skilled jobs and innovative services...

Dubai Logistics City Customs Centre completed 48,000 transactions and cleared goods valued at AED 1.6 billion in the first quarter of this year, said Sami Eisa, Senior Manager of the Centre. The Centre facilitates processes and operations of companies and traders, and in particular in the shipments of the International...

The best brands take a cross-functional approach, embedding sustainability within divisions and business units while linking incentives to sustainability targets. These companies treat sustainability as if it were any other business process, Fabre adds.

Dubai Multi Commodities Centre, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, welcomed 665 companies to its Free Zone in Dubai during the first quarter of 2022. This represents DMCC’s best first quarter since its inception over twenty years ago, a 13 percent...

Artificial Intelligence, wired into the economic plans of many GCC countries, is likely to contribute 12.4 percent to Saudi GDP and 14 percent to the UAE's GDP by 2030.

Incumbent brands need small-brand deals to recapture top-line growth and boost total shareholder return. While challenging to get right, these acquisitions can deliver substantial value. Success requires a clear understanding of what makes insurgent assets unique, he adds.

The UAE has earned a unique distinction of becoming the only Arab country to be propelled into the premier club of nations with the most technologically advanced governments.

Qatar Development Bank (QDB) announced the launch of a version of the "Al Dhameen" program for micro-enterprises, for the first time in the country. Al Dhameen program for micro-enterprises is characterized by a profit rate and distinct conditions. This contains guaranteeing 100 percent of the value of the financing, and...

Dubai Chamber of Commerce facilitated 1,500 bilateral business meetings between UAE investors and their global counterparts, and received 1,746 visiting delegations from over 60 countries during the mega event, which were joined by 3,350 government and business leaders. Seven new economic and professional bodies were licensed by the Dubai Association...

Tadawul, the Saudi stock exchange, has barred three companies from trading in shares over their failure to issue financial statements for 2021.

Licensed companies and small and medium enterprises (SMEs) accounted for 51 per cent of Ajman Free Zone’s total procurement of goods and services in 2021, a recent report released by the free zone showed. The report also revealed that 24 per cent of the total purchases and contracts made last...

The privatization move will also help the regional governments in maintaining better economic growth, increasing private participation and attracting foreign investments.

The commercial exchange between Saudi Arabia and Austria has grown from around SAR 1.8 billion ($479 million) in 2005 to almost SAR 3.3 billion in 2020, while the kingdom is the export destination and the main trading partner of Austria in the Middle East. This was revealed during the visit...

Five Chinese companies have been ordered to comply with audit requirements by the US Securities and Exchange Commission (SEC) or face delisting from Wall Street. The initial group of companies named on a list published by the SEC on Thursday, could soon be followed by all Chinese companies listed in...

Ajman China Mall has registered a growth of 12 percent in the number of registered companies in 2021 compared to 2020, according to Ajman Free Zone. Out of 1,000 enterprises operating in the mall, the retail sector topped the list followed by the fashion and textile sector. Enterprises operating within...

Masdar City and Mashreq Bank have signed a Memorandum of Understanding (MoU) to provide financial services to Small and Medium-sized Enterprises (SMEs) and start-ups based in the city. This will include easy access to NeoBiz, the bank's first digital banking platform designed specifically for start-ups and SMEs. The MoU was...

The companies are Emirates Global Aluminum (EGA), Abu Dhabi National Energy Company (TAQA), Dubai Holding and Emirates Water and Electricity Company (EWEC).

Over 27,800 new member companies joined the Dubai Chamber of Commerce in 2021, a 66.8 percent increase compared to 2020, which brings the organization’s total membership to over 287,000. In 2021, the Dubai Chamber of Commerce saw the return on investment of its digital transformation over the years. The Chamber...

The number of registered educational companies within the Ajman Free Zone (AFZ) grew by 17 percent in 2021 compared to the previous year. The free zone is home to more than 240 educational facilities in 2021, reaffirming its keenness to advance the sector in the Emirate of Ajman, AFZ said....

The head of Saudi Basic Industries Corporation (SABIC) has urged ‘chemical companies’ to decarbonize promptly in order to improve what he termed as green credentials.

The ‘Dubai-Israel: Future Horizons Mission’ was hosted by the Dubai International Chamber, which is one of the three chambers operating under the restructured Dubai Chambers. It was organized by Dubai International Chamber, the UAE Embassy in Israel, and the Tel Aviv Stock Exchange.

A conference that brings together Emirati investors and Israeli public companies listed on the Tel Aviv Stock Exchange (TASE) will be held in Dubai from Feb 28 to Mar 3. The conference, “Dubai Israel: Future Horizons Mission”, is collaboration between the UAE Embassy in Israel, TASE and the Dubai International...

The exchange is based in Dubai Multi Commodities Centre.

The record shows 1,792 newly registered companies in the zone, testifying to the increased investor confidence in the services provided by the emirates.

Dubai International Financial Centre (DIFC) has reported its best annual performance to date, recording its highest ever annual revenue and operating profit besides the highest ever company registrations. DIFC said it achieved its 2024 Strategy growth targets three years ahead of schedule during the first half of 2021. The Centre...

Nearly two years of disruption to the fabric of society due to global pandemic has resulted in a collective shift in people’s relationships with work, consumerism, technology, and the planet, pushing companies to design new ways of doing business, according to the annual Fjord Trends report from Accenture. Newly identified...

Jafza is home to some of the world’s leading brands, including Unilever, Nestle, Heinz, McCain, Hunter Foods, Alokozay Group of Companies, Al Khaleej Sugar, Bayara, to name a few.

The World Defense Exhibition (WDE) declared that its first edition will be held in Riyadh, Saudi Arabia, from March 6-9, 2022, according to media reports. WDE is a leading global event on defense and security. The exhibition will begin with an opening ceremony that includes live demonstrations of the capabilities...