Business

E-payments account for 79% of Saudi retail transactions in 2024: SAMA

the financial - 19 April, 2025

RIYADH: Electronic payments made up 79 percent of all retail transactions in Saudi Arabia in 2024, up from 70 percent the previous year, according...

GCC banks poised to weather global trade turbulence: S&P report

the financial - 18 April, 2025

RIYADH: Despite rising global trade tensions and heightened market volatility, banks across the Gulf Cooperation Council are expected to remain resilient, according to a...

Saudi asset management industry hits $266bn, poised for further growth: Fitch Ratings

the financial - 18 April, 2025

RIYADH: Saudi Arabia’s asset management industry grew by 20 percent year on year in 2024, pushing the sector’s total assets to SR1 trillion ($266...

Business

DP World becomes the first company in the middle east to issue a blue bond

the financial - 20 December, 2024

DP World has issued a groundbreaking $100 million Blue Bond to fund sustainable projects cutting across marine transportation, port infrastructure, marine pollution, as well...

Business

Saudi Arabia’s supply chain conference drives $2.2bn in new investments

the financial - 17 December, 2024

RIYADH: The Supply Chain and Logistics Conference in Saudi Arabia, which wrapped up on Dec. 16 in Riyadh, saw the signing of 91 agreements...

Business

Dubai: Gold prices drop over Dh1 per gram in early trade

the financial - 17 December, 2024

Gold prices fell Dh1.5 per gram at the opening of the markets in Dubai on Tuesday. At 9am UAE, the 24K variant of the precious...

Business

Saudi Arabia invests $2.66bn to transform logistics infrastructure with 18 new zones

the financial - 16 December, 2024

Move is part of a broader strategy to attract local and global investments It came during the opening ceremony of the sixth edition of the...

Business

Saudi Arabia’s inflation holds steady at 2% in November: GASTAT

the financial - 16 December, 2024

On a monthly basis, the consumer price index rose slightly by 0.3 percent from October GASTAT revealed a 1.4 percent year-on-year increase in Saudi Arabia’s...

Business

Saudi POS spending reaches $3.78bn, driven by surge in utilities and jewelry

the financial - 15 December, 2024

Spending on public utilities rose by 11.5% to SR63.32 million Total POS transactions in the Kingdom reached SR14.22 billion, a 0.7% decrease from the previous...

Business

COP16: Blended finance crucial to fostering sustainable entrepreneurship, says Egyptian official

the financial - 14 December, 2024

Amid the global call to ensure a green future, equity funding to startups focused on cleantech and sustainability has fallen this year RIYADH: The concept...

Business

Dubai: 22K gold price soars past Dh300 mark again

the financial - 11 December, 2024

The prices of 22K gold crossed the Dh300 mark again as global prices rose to $2,680 per ounce. At the opening of the markets in...

Business

Startups in Abu Dhabi’s Hub71 secure $1.9bn in funding

the financial - 9 December, 2024

Hub71 startups in Abu Dhabi have achieved revenues of $1.1bn Startups within Hub71, Abu Dhabi’s global tech ecosystem, have secured over AED7 bn ($1.9bn) in funding,...

Business

UAE charges 15 members of tax gang over $29m fraud

the financial - 9 December, 2024

UAE refers individuals to criminal court over alleged forgery, money laundering and tax evasion The UAE has charged 15 individuals accused of tax crimes and...

Business

UAE e-commerce market tipped to reach $25bn by 2029

the financial - 7 December, 2024

E-commerce is booming in the UAE and will pass $11bn in sales this year The UAE e-commerce market will pass $11bn in sales this year and will...

Business

Saudi Green Initiative unveils $60m in new environmental projects at COP16

the financial - 6 December, 2024

RIYADH: The fourth Saudi Green Initiative Forum began on Tuesday with the launch of five new groundbreaking environmental projects, valued at SR225 million ($60...

Business

COP16: Saudi Arabia urges private sector to bridge land restoration funding gap

the financial - 6 December, 2024

RIYADH: Saudi Arabia’s UN Convention to Combat Desertification COP16 Presidency has called on the private sector to increase funding for land restoration efforts, highlighting...

Business

Saudi Arabia to boost ICT sector with multi-billion-dollar firms in 2025

the financial - 5 December, 2024

RIYADH: Saudi Arabia is set to launch two multi-billion-dollar companies by the end of 2025 as part of plans to boost its communications and...

Business

COP16 opens in Riyadh with $2bn pledged to combat global drought crisis

the financial - 5 December, 2024

RIYADH: A landmark initiative to tackle droughts secured $2 billion in funding on the opening day of COP16 in Riyadh. In what is the largest-ever...

Business

Dubai: Abu Dhabi-based Aldar acquires flagship tower in DIFC for Dh2.3 billion

the financial - 5 December, 2024

Abu Dhabi-based developer Aldar on Wednesday said it it has acquired Dh2.3 billion flagship tower from H&H Development, making it one of the largest...

Business

Dubai real estate sector recorded $3.7bn of transactions last week, including Palm Jumeirah apartment sold for $21.4m

the financial - 4 December, 2024

The Dubai real estate sector saw $3.7bn of transactions last week The Dubai real estate sector recorded AED13.55bn ($3.7bn) of transactions last week, according to data from...

Business

Dubai: Gold prices drop in early trade

the financial - 4 December, 2024

Gold prices fell in Dubai at the opening of the markets on Tuesday after yesterday’s roller-coaster ride. The Dubai Jewellery Group data showed a 24K...

Business

UAE: Talabat raises Dh7.5 billion in largest global tech IPO so far this year

the financial - 2 December, 2024

Talabat has announced the successful completion of the bookbuild and public subscription process for its initial public offering on the Dubai Financial Market. The...

Business

UAE free zone looking to capitalise on Ras Al Khaimah’s $75bn construction boom

the financial - 1 December, 2024

RAKEZ looks to highlight investment opportunities and UAE construction growth at Big 5 Global exhibition The UAE construction sector is thriving and offers enormous investment...