Business

Flynas, Saudi Arabia's budget airline, under the leadership of Chief Executive Bander Al Mohanna, has unveiled plans for an initial public offering (IPO) later this year, intending to list its shares on the Tadawul stock exchange.

In February, the Saudi central bank witnessed a decline in its net foreign assets, as per the data released by the central bank on Friday. The decrease amounted to $7.20 billion compared to the previous month's figures.

Saudi Arabia is actively diversifying its economy away from oil dependence by investing significantly in non-oil sectors, a move aimed at spurring growth rates and fostering economic resilience.

Qatar-based Commercial Bank has recently initiated the issuance of $750 million worth of bonds in U.S. dollars, with a maturity date set for 2029, according to documentation provided by one of the arranging banks on Tuesday.

Huspy, a pioneering real estate startup in Dubai, has introduced a groundbreaking range of mortgages in the UAE, boasting interest rates below 4 percent.

Dell communicated its new policies, set to take effect in May, through an internal memo that outlined requirements for hybrid staff.

Real estate transactions in Oman experienced a notable decline of 20.2 percent, amounting to OR207.8 million ($540 million) by January 2024, compared to OR260.5 million ($677 million) recorded during the same period in 2023, as per the latest figures...

Riyadh Air, Saudi Arabia's newest national carrier, celebrated its inaugural year on March 12, 2023, with a series of strategic alliances and agreements designed to enhance its operations.

The UAE and Brazil are collaborating to strengthen their already flourishing $4.3bn trade partnership. Juma Al Kait, Assistant Under-Secretary for International Trade Affairs at the Ministry of Economy, lauded the resilience of the UAE-Brazil trade...

Riyadh Air commemorates its inaugural year as it accelerates preparations for its anticipated launch in 2025, aiming to revolutionize air travel with sustainability at its core while setting new benchmarks for reliability, comfort, and service...

Saudi Arabia and China are bolstering air connectivity with the introduction of a new air route between the two nations.

Oman intends to supervise investments worth $31 billion in its tourism sector by 2040, as indicated by Azzan Qassim Al Busaidi, the Undersecretary of the Ministry of Heritage and Tourism.

The UAE has contributed $5 million to a World Trade Organization (WTO)-established $50 million fund intended to support female entrepreneurs.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of Dubai Executive Council, recently chaired a meeting attended by Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture, to review...

Currie and Brown, experts in project management, predict that construction expenses in Saudi Arabia and the United Arab Emirates will increase this year.

Saudi Arabia and China have entered into a Memorandum of Understanding (MoU) in the realm of air transportation, intending to fortify bilateral air travel between the two nations.

According to official statistics, last year Dubai Customs processed 46,870,957 bags from 206,396 aircraft, or an average of 128,400 bags every day.

India has witnessed a notable upsurge in the population of multi-millionaires, with the count of individuals earning above Rs 10 million ($120,501) annually surpassing 216,000 as of December 31, 2023.

One97 Communications, the parent company of Paytm, is currently under scrutiny by the Reserve Bank of India (RBI) for alleged irregularities in its payment bank operations.

The Saudi Vision 2030 initiative has attracted $3 trillion in foreign investment, and businesses in the GCC are flocking to the kingdom to take advantage of all the possibilities it presents.

On February 4, Saudi Arabia launched the Sah, the first Shariah-compliant, government-backed savings product for individuals.

A public-private partnership project must not exceed SR 200 million, according to the revised executive regulations of the Saudi Arabian Privatization Law that were published in the official periodical Umm Al-Qura. The rules also established SR 50...

Saudi Export-Import Bank (Saudi Exim Bank) has entered into an agreement with the International Islamic Trade Finance Corporation (ITFC) to implement a $25 million financing line for Pakistan's Habib Bank Limited (HBL).

As part of the Emiratization goals for healthcare institutions in 2024 and 2025, the Abu Dhabi Department of Health recently revealed the addition of 3,800 new jobs for locals.