MENA

Talabat prices IPO at top of range, raising $2 billion in proceeds

Final share price has been set at AED1.60, valuing the company at around AED37.3 billion ($10.1 billion)

Saudi Arabia’s expenditure on research and development surges by 17.4 percent to $6 billion

The workforce in the R&D field increased by 12.2 percent, bringing the total number of employees to 49,337

Emirates World lands in Casablanca: The largest store yet, spanning over 500m²

The opening marks the second Emirates World opening in Africa, and the seventh globally

Abu Dhabi’s Masdar completes acquisition of TERNA ENERGY

The agreement, priced at EUR20 per share, values TERNA ENERGY at an enterprise value of EUR3.2 billion ($3.4 billion)

Oil prices face weekly decline amid easing Middle East tensions, anticipation of OPEC+ meeting

Brent crude futures for January fell by 0.1 percent to $73.21 per barrel

EFG Hermes advises on Maarif Education’s landmark acquisition of Ibn Khaldoun Education in Saudi Arabia

This complex transaction stands as one of the most substantial investments to date in Saudi Arabia’s private K-12 education sector

Saudi Arabia sees 27 percent surge in incoming tourists over 9 months, says tourism minister 

By the end of 2023, tourism contributed 5 percent to GDP, with a goal of reaching 10 percent by 2030

How achieving gender equality could add $21 trillion to global GDP

Empowering women benefits business, as research shows diverse boards outperform non-diverse ones by 20 percent 

UAE’s Habib Al Mulla and Partners expands into Iraq, bridging legal excellence across borders

This expansion comes from a partnership with Al Nesoor Law Firm, a Baghdad firm with 30 lawyers and 24 years of experience in M&As

Sheikh Saud bin Saqr launches Etihad Water and Electricity Museum, showcasing UAE’s path to progress

Sheikh Saud noted the importance of museums in displaying photographs, documents, artefacts, and equipment from developmental projects

Saudi economy grows 64 percent to $1.09 trillion in nominal GDP from 2016 to 2023, says Finance Minister

Al-Jadaan projected a 4.6 percent growth rate for non-oil GDP in Saudi Arabia in 2025 

Qatar Q3 2024 real estate transactions reach $908 million, up 18 percent year-on-year: Report

ValuStrat Price Index showed consistent performance at 96.6 points with minimal annual variation

Oil prices remain steady amid mixed U.S. inventory data, easing Middle East tensions

January Brent oil futures dipped 0.1 percent to $72.78 a barrel

Dubai launches strategic plan for emirate’s Judicial Inspection Authority for 2024-2026

This plan aims to uphold high standards of excellence while balancing judicial independence and accountability 

AROYA Cruises redefines luxury travel in Saudi Arabia with inaugural voyage on December 16

It features 1678 cabins, 20 entertainment outlets, 29 restaurants and bars, and the highest shopping mall coverage of any cruise line in the world 

Talabat IPO size increased to 4.65 billion shares to address high demand

The additional 1,164,412,032 offer shares have been wholly allocated to the qualified investor offering

ENEC, ADNOC to explore use of advanced nuclear technologies, excess heat utilization for oil, gas operations

This agreement entails a thorough technical and economic evaluation to pinpoint the most suitable nuclear reactor technologies for ADNOC

Gold prices edge up slightly as safe-haven assets gain traction

President-elect Trump threatens new trade tariffs on China, Canada, and Mexico, sparking fears of a trade war

Saudi Arabia approves FY2025 budget, forecasts $315.2 billion in revenues

The approved state general expenditures amount to SAR1.285 trillion ($342.07 billion)

Saudi Arabia sets world record for largest food cluster with $5.3 billion investment to create 43,000 jobs by 2035

Over the next ten years, the Jeddah Food Cluster is expected to contribute SAR8 billion to national exports and add SAR7 billion to the nation's GDP

UAE launches initiative to train 5,000 Emirati students in future digital technologies

The initiative supports Dubai's vision to empower Emirati talent and strengthen the digital economy.

RTA launches initiative to illuminate 40 areas across Dubai by 2026

This initiative aligns with RTA’s strategy to enhance Dubai’s road network and update street lighting systems citywide 

Saudi Arabia tops Arab region in quality infrastructure rankings, climbs 25 spots globally

The Kingdom ranked 20th globally in the Quality Infrastructure for Sustainable Development Index (QI4SD) 2024