ABU DHABI, UAE - A recent report revealed that 29 initial public offerings (IPOs) were recorded in the Middle East and North Africa (MENA) region during the first nine months of this year, with total proceeds of US$5.8 billion.The report, issued on Tuesday by Ernst Young (EY) on IPO activity...

It posted an 11% jump in net revenue to US$890 million.

Despite global economic challenges, the region showcased resilience in the first half of 2023, backed by a robust performance in the construction sector.

Dubai, UAE -- MENA venture capital funding in the third quarter saw $250 million raised across 78 deals, a 32 percent increase compared to Q2 of 2023, according to the Q3 2023 MENA Venture Investment Premium Report by startup data platform MAGNiTT.This contributed to $1.4 billion raised through 286 transactions...

Dubai, UAE - The Middle East and North Africa (MENA) banking sector has witnessed a remarkable 30% year-on-year increase in net profits and a substantial 12.2% growth in net assets, the EY MENA H1 2023 Banking Report revealed on Monday. Returns on equity increased by 6.18%, and the net interest...

Cairo, Egypt--Egypt has issued the first sustainable Panda bonds in the Middle East and North Africa worth $500 million with a yield of 3.5% over three years, according to a statement by the Ministry of Finance.The recent bond issuance is guaranteed by international banks including the Asian Infrastructure Investment Bank...

Dubai, UAE -- Despite global economic uncertainties, the construction industry in the Middle East and North Africa (MENA) awarded a staggering $101 billion worth of projects in the first half of 2023, a report by JLL's Construction Market Intelligence said, based on insights gathered from industry experts and sources.The lion's...

Last year, 67% of UAE's crypto transactions were institutional, valued over $1 million, with decentralized exchanges constituting 48%, outpacing centralized ones, says a report.

The region's IT spending is set to rise by 4% to $183.8 billion in 2024, with software and IT services witnessing double-digit growth, and device spending recovering post-2023 decline.

The region's IT spending is set to rise by 4% to $183.8 billion in 2024, with software and IT services witnessing double-digit growth, and device spending recovering post-2023 decline.

With this deal, Alpha Dhabi marks entry into water and wastewater domain.

New York, United States - YouTube has unveiled a suite of innovative AI-powered tools aimed at revolutionizing the world of content creation for both emerging and established creators worldwide, with a special focus on the Middle East and North Africa. These AI-driven capabilities promise to unleash new avenues of creative...

The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's market may hit $1bn mark this year and triple by 2030.

With MENA accounting for just 7.4% of global trade in 2022, GCC's strategic initiatives and resources can pave the way for regional trade integration and global prominence.

Abu Dhabi, UAE - The UAE Ministry of Economy has announced that Zencargo, a UK-based company with expertise in digital freight forwarding, is joining its NextGenFDI program, a government initiative to attract international investment to the UAE.The company plans to establish operations in the Emirates with a view to integrating...

The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's market may hit $1bn mark this year and triple by 2030.

According to an ADNOC statement, the project will be able to capture up to 1.5 million tonnes of CO2 a year, tripling ADNOC's carbon capture capacity. No cost or timeline was announced for the venture, which will be built and operated by ADNOC subsidiary ADNOC Gas.

Riyadh, Saudi Arabia-- The gaming industry has witnessed exponential growth in Saudi Arabia with an average revenue per paying user touching $270 as compared to $181 in MENA. With the game live streaming market poised to an annual growth rate (CAGR 2023-2027) of 10.08% in Saudi Arabia, esports is gaining...

The stock exchange offers indices, real estate services, and wealth management. It ensures supply-demand balance, and swift transactions, while delivering high-quality, accurate and efficient data.

Smart FM solution providers such as CBRE optimize FM workflows with virtual maintenance, automated maintenance, and dynamic services, focusing on energy conservation

Riyadh, Saudi Arabia - Riyadh is set to host the exhibition and conference industry show Expo Expo MENA on September 10. It will be the first time the expo will be held outside of the United States.Expo Expo MENA will feature over 100 exhibitors specializing in the field of presentations...

ESG principles offer a solution framework as the region faces urbanization challenges, including unplanned settlements in cities like Cairo and Makkah, says a report.

Abu Dhabi, UAE--Black Cobra Military Supplies (BCMS) and the National Factory for Safety and Security Products (NFFSP) have signed a memorandum of understanding (MoU) to design and manufacture military footwear for the MENA region.Facilitated and supported by the Emirates Defence Companies Council (EDCC), the agreement aims to offer a sustainable...

MENA startups secured US$95 million in July 2023 across 31 deals; equity investments hit US$55 million, boosted by One Moto's US$ 40 million round.

The investments are expected to localize partnerships.

Favoring CBDCs for efficiency, convenience, and security, 63% of MENA residents believe central banks should introduce them, and 73% are ready to use them, says a survey.

Sovereigns were the key issuers. Fitch said the pricing of most sukuk and comparable bonds continued to be similar and highly correlated in the first half of 2023. This trend is likely to persist.

Saudi Arabia has reentered into this year's Kearney FDI Confidence Index, which ranks the markets likely to attract the most investment in the next three years.

Riyadh, Saudi Arabia--Saudi Arabia will host the MENA Climate Week 2023 in Riyadh on October 8-12, in coordination with the United Nations Framework Convention on Climate Change (UNFCC).The MENA week’s activities and events will be “Global Stocktake” to assess the progress made towards realizing the climate changes objectives outlined in...

Riyadh, Saudi Arabia -- Aramco, TotalEnergies and SABIC have completed for the first time in the Middle East and North Africa (MENA) region the first conversion of oil derived from plastic waste into circular polymers certified with the International Sustainability and Carbon Certification (ISCC+).The plastic pyrolysis oil, also called plastic...

Abu Dhabi, UAE-- AD Ports Logistics (ADPL) has signed an agreement with Acino to provide the Swiss company with global freight-forwarding services, inclusive of sea and air transport in the Middle East and North Africa (MENA) region.The agreement will see ADPL leverage its fully integrated and GDP-certified end-to-end pharma cold...

DUBAI, UAE  - Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has launched its third report on the emirate's digital economy.The Dubai's Venture Capital Ecosystem report provides an overview of the investor landscape backing the start-ups and scale-ups that are transforming Dubai and the...

At $445 million, startups in the region witnessed a robust 153 percent year-on-year growth in venture funding despite a 7 percent drop in deal volume, says a latest report.

Dubai, UAE:  The UAE’s target of attracting 40 million tourist visits by 2030, and its subsequent economic contribution of AED 450 billion ($123 billion) to the country’s national GDP, will further boost the leisure and entertainment (L&E) sectors of both the nation and the region, Fever, the leading global live-entertainment...

DUBAI, UAE - The World Bank raised its global growth forecast for 2023 to 2.1 percent (in June 2023) from 1.7 percent  (in January 2023), thanks to greater-than-expected flexibility in major economies.In its latest report released in June 2023, the World Bank also expected the global growth to reach 2.4...

Riyadh, Saudi Arabia--Saudi Arabia has been re-elected to represent the MENA region on the board of the Global Research Council (GRC) during its 11th annual meeting in The Hague, The Netherlands.Dr. Munir Eldesouki, the President of King Abdulaziz City for Science and Technology, will continue to represent Saudi Arabia at...

Dubai, UAE -- First Abu Dhabi Bank (FAB) has raised $600 million from an offering of a five-year bond, which is the first green bond issued by a financial institution in the MENA region in 2023.The green bond was upsized to $600 million from the initial $500 million after the...

"The 2022 Saudi census marks the "most comprehensive and precise population survey conducted in the Kingdom's history," the General Authority of Statistics said. It set the total population of the country at 32.2 million: 58.4 per cent Saudi nationals and most others from South Asia or elsewhere in the MENA...

Ras Al Khaimah, UAE--More than 1,800 new companies have set up their businesses in Ras Al Khaimah Economic Zone (RAKEZ) in the first quarter of 2023, registering a 122 percent jump as against the same period of last year.Ramy Jallad, CEO of Ras Al Khaimah Economic Zone (RAKEZ), said that...

Abu Dhabi, UAE - AD Gaming has expanded its gaming ecosystem by welcoming MY.GAMES to Abu Dhabi, marking the latest multinational gaming business to select the emirate as its regional hub.Headquartered in Amsterdam, MY.GAMES is a leading publisher and developer of mobile, PC, and console games, with over one billion...

The company posted Q1 revenue of US$299 million.

The TRENDS poll highlights the need to invest in transportation infrastructure, streamline customs procedures, and improve warehousing and distribution capabilities.

The acquisition includes all operating projects and pipeline of Spectrum.

Abu Dhabi, UAE - Abu Dhabi has been named the smartest city in the Middle East and North Africa (MENA) region for the third consecutive year, according to the IMD Smart City Index. The study surveyed 120 residents in each of the 118 cities worldwide and evaluated infrastructure and digital services...

Dubai, UAE - The US dollar could record some gains as markets increasingly see a higher probability that the Federal Reserve will raise interest rates one more time at their next meeting, Wael Makarem, Senior Market Strategist, MENA at Exness said on Monday. The constant surprises in US economic data during...

Dubai, UAE-- The total spending by UAE-based organisations on outsourcing services from local and offshore providers was estimated at over US$4.8 billion in 2018 and is expected to reach US$6.8 billion in 2023.This was highlighted in a new report by Boston Consulting Group (BCG) in collaboration with Forward MENA previously...

The company announced Earnings Per Share of 10.1 fils.

DUBAI, UAE -  Dubai International Boat Show 2023 attracted over 30,000 visitors and industry players from across the globe for five days of demonstrations, displays, seminars, launches and workshops.The global boat-building market is expected to reach over US$47 billion in 2027, at a CAGR of 7.5 percent, and the increasing...

Amman, Jordan--Standard Chartered has decided to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), according to both the parties.Standard Chartered, the emerging markets-focused lender, plans to exit seven markets in Africa and the Middle East.The bank entered into an agreement with AJIB, subject to central bank approval, which...

The region will benefit from investment in training institutes for nursing and health professionals, Amanat Holding CEO Mohamed Hamade tells TRENDS during an interview.