Saudi economy grows at fastest rate in nearly a decade

Gross domestic product expanded by 6.8 per cent compared to the same quarter of 2020

Dubai private schools

Dubai private schools report 3.5% growth in student enrolments

There are 289,019 students belonging to 185 nationalities enrolled in 215 private schools

UAE’s Mashreq posts 24.7% dip in net profit for first nine months of 2021

The bank’s operating profit for nine months of the year rose by 14.3 per cent to Dhs2.4bn

Seven Elon Musk tweets that sent Tesla shares on a wild ride

There’s also the influence Musk wields in crypto markets

Dubai developer Union Properties’ chairman detained amid probe

Last month, the UAE attorney general announced a “major” investigation into alleged financial violations at the company

Abu Dhabi’s ADNOC Distribution posts net profit worth Dhs1.7bn for first nine months of 2021

It recorded a net profit of Dhs529m for the third quarter of 2021

International investors boosting Dubai property market, say developers at Cityscape

During the first nine months of the year, a total of 43,299 property sales transactions worth Dhs104.3bn were recorded in Dubai

Abu-Dhabi

Abu Dhabi Securities Exchange proposes SPAC regulatory framework

The Abu Dhabi Securities Exchange and Abu Dhabi’s Department of Economic Development have submitted a proposal to the Securities and Commodities Authority

UAE reports 72 Covid-19 cases, 90 recoveries

The nationwide case count has now risen to 740,572

Saudi Arabia chases $64bn Hollywood dream

The kingdom is launching its first international film festival

Shailesh Dash

Charting the growth of SPACs

Are special purpose acquisitions companies becoming a serious alternate funding avenue for private companies?

Zayed University UAE

UAE’s Zayed University signs academic partnership MoU with Israel’s University of Haifa

Both universities will exchange knowledge and academic best practices, conduct joint-research projects, and organise mutually beneficial events and seminars

Dubai Financial Market appoints new CEO

Hamed Ahmed Ali was previously appointed as deputy CEO and chief markets officer in July 2020

Visa Dubai

Visa opens its new flagship regional headquarters in Dubai

Spanning 100,000 sq ft, the new HQ will serve almost 90 countries across the Central and Eastern Europe, Middle East and Africa region

Oracle announces second cloud region in the UAE

Emaar, Emirates Post Group chose Oracle Cloud Abu Dhabi Region for strategic business operations

Kuwait cabinet quits in step toward ending political impasse

It’s the third government to resign in a year

Qatar orders six gas ships from South Korea to boost exports

LNG is seen as an important substitute for fuels such as oil and coal

Sharjah UAE

Sharjah records Dhs5.7bn in real estate transactions for Q3 2021

The total volume of area circulated in sales transactions amounted to around 16.5 million sq ft

ASUS Business

Here’s how ASUS Business is bridging the technological gap in education

The company is also aggressively launching new products, solutions and initiatives in 2022

Emaar Malls

Dubai’s Emaar Malls records nine month net profit of Dhs1.07bn, up 82% y-on-y

Its revenue for the first nine months of 2021 was reported at Dhs3.191bn, up 28 per cent over the corresponding period last year

Emirates Garuda Indonesia

Dubai’s Emirates signs codeshare MoU with Garuda Indonesia

Subject to required regulatory approvals, the codeshare agreement is expected to come into effect from January 2022

UAE reports 68 Covid-19 cases, 2 deaths

The nationwide case count has risen to 740,500

UAE says oil prices would be even higher if it wasn’t for OPEC+

Brent crude’s climbed 62 per cent this year to almost $84 a barrel

Investcorp

Bahrain’s Investcorp builds EUR1bn European real estate portfolio

It recently acquired ten UK industrial assets for a combined purchase price of GBP56.7m

Abu Dhabi authority implements plan for climate-smart agriculture

The Abu Dhabi Agriculture and Food Safety Authority has urged farm owners to shift toward organic agriculture

How the pandemic has reinvented trade

The demand for more seamless and end-to-end logistics services has risen dramatically to deal with market volatility

Bahrain aims to attract 14.1 million tourists by 2026 as part of new strategy

The strategy seeks to increase the contribution of tourism to Bahrain’s GDP to reach 11.4 per cent in 2026

Saudi stock exchange set for December trading debut, CEO says

The offering could value the bourse at between $3bn and $4bn

UAE reports 70 Covid-19 cases, 92 recoveries

The total number of reported cases has risen to 740,432

Dubai to encourage IPOs from private firms to revive market

The city merged its economic and tourism departments on Saturday