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MANUFACURING TOPS AMONG NON-OIL
Bahrain economy records real growth of 2.1% in Q3 2024
The Gross Domestic Product (GDP) of Bahrain increased by 2.1% at constant prices during the third quarter of 2024 compared to the corresponding quarter of the previous year, according to the national accounts estimate issued by the Information & eGovernme
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GLOBAL AVIATION HUB
UAE achieves record 1m aircraft movements in 2024
The UAE General Civil Aviation Authority (GCAA) has announced that the Sheikh Zayed Air Navigation Centre surpassed one million air traffic movements in 2024, achieving significant milestone in the country's aviation journey.
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CAPITAL INCREASE STRATEGY
Saudi PIF completes $7bn debut murabaha credit facility
Saudi sovereign wealth fund PIF has announced the completion of its first murabaha credit facility for $7 billion, as part of its capital hike strategy. The financing structure is backed by a consortium of 20 global and regional financial institutions.
Top Trade News
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Jabal Omar announces sale of key Makkah plot for $359m
Saudi-based Jabal Omar Development Company has anounced that it has signed an agreement with Durat Taibah Investment Company for the sale of a plot of land located within its project in Makkah city for a total value of SAR1.35 billion ($359 million).
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AS Watson Group opens new flagship store in Bahrain
AS Watson Group, one of the world's largest health, beauty retailers, has joined hands with UAE business conglomerate Al Futtaim Group to open its flagship store at City Centre Bahrain. It already has outlets in UAE, Kingdom of Saudi Arabia and Qatar.
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Baker Hughes lands Woodside Louisiana LNG project deal
Baker Hughes, an energy technology company, has secured an order from Bechtel Energy for the supply of liquefaction equipment at two major plants of Woodside Energy in North America. The LNG project, in its first phase, will boast a capacity of 11 MTPA.
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stc pay leverages Mastercard Move for money transfers to Alipay
stc pay, a leading mobile wallet for digital financial transactions in Bahrain, is leveraging Mastercard Move to become the first company in the country to offer secure and efficient remittances to China's Alipay.
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The top 5 electric vehicle trends to watch for in 2025
The UAE’s electric vehicle (EV) market is poised for significant transformation in 2025, underpinned by government initiatives, surging consumer demand, and rapid advancements in infrastructure.
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Oman resumes copper exports after a 30-year hiatus
In a landmark achievement for the Oman's mining sector, Minerals Development Oman (MDO) has announced the export of the first shipment of copper concentrates from the Lasail Mine in the Wilayat of Sohar.
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Jeddah airport receives record 49.1m passengers in 2024
King Abdulaziz International Airport in Jeddah achieved a major milestone in 2024, recording the highest annual operational figure in Saudi airports history.
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Microsoft plans to invest $80bn in AI data centres
Microsoft plans to invest $80 billion in the expansion of data centres for artificial intelligence (AI) this financial year - with over half of that to be invested in US, said a report. The current fiscal year for Microsoft runs until the end of June.
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Catrion to provide catering for Dakar Rally Saudi Arabia
Dakar and Catrion have announced that Catrion will be the exclusive catering partner for the Dakar Rally Saudi Arabia 2025, taking place from January 3 to 17, across the kingdom.
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Ram 1500 reigns as MotorTrend 2025 Truck of the Year
MotorTrend has named the Ram 1500 its 2025 Truck of the Year after weeks of testing, as editors of the automotive publication awarded high scores to the truck in every category of the competitive testing process.
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Tarshid teams up with Irada for Saudi green hospital project
Saudi national energy services company Tarshid has announced that it has partnered with Al Amal Mental Health Hospital (Irada) for an energy efficiency project targeting 19 of the buildings within its medical complex in AlQurayyat region of the kingdom.
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Bahrain beats Oman to clinch 26th Gulf Cup
Bahrain’s national football team won the 26th Gulf Cup defeating Oman 2-1 in the finals at Jaber Al Ahmad stadium in Kuwait. This marks the kingdom’s second Gulf Cup title, showcasing a determined and inspiring performance throughout the tournament.
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Bahrain's King issues decree amending Labour Fund rule
Bahrain's HM King Hamad has ratified and issued a new law aimed at boosting job opportunities for its citizens by limiting Labour Fund's support to Bahraini-owned enterprises and improving the skills, productivity and competitiveness of local workforce.
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Forbes Middle East Women’s Summit honours Dalia Khorshid
Forbes Middle East Women’s Summit, held in Riyadh, Saudi Arabia, has honoured Dalia Khorshid, Group CEO of Beltone Holding, for her exceptional contributions to the investment sector and her leadership.
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