Author: Arabian Media staff
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Image credit: Getty Images India is planning to allow direct foreign investment in state-run banks of up to 49 per cent, more than double current limits, according to a person directly involved in the policy discussions. The finance ministry has been discussing the matter with the Reserve Bank of India (RBI), the country’s banking sector regulator, over the past couple of months, said the person, adding that the proposal has yet to be finalised. Foreign interest in India’s banking industry is on the rise as evidenced by Dubai-based Emirates NBD’s recent $3bn purchase of a 60 per cent stake in…
M42, a global health leader leveraging artificial intelligence (AI), technology, and genomics, announced on October 27 the official incorporation of M42 Saudi Arabia. The announcement, made at the Global Health Exhibition (GHE) in Riyadh, underscores the company’s commitment to supporting Saudi Arabia’s Vision 2030 healthcare transformation agenda. Read more-UAE’s AI healthcare leap: The future of medicine is already here For more than 12 years, M42 has collaborated with the Saudi Ministry of Health, operating over 40 Diaverum clinics across 33 cities, including Riyadh, Jeddah, Makkah, and Madinah. The launch of M42 Saudi Arabia marks the next phase of this partnership,…
Image: Supplied Bahrain’s sovereign wealth fund (SWF) Mumtalakat has signed a strategic partnership with SandboxAQ, a global firm specialising in artificial intelligence and quantum techniques, to develop a biotech ecosystem in the kingdom, the two companies said on Monday. Under the agreement, Bahrain will license SandboxAQ’s software and expertise in quantitative AI to identify and develop drug targets and novel therapeutics. The partnership is expected to generate over $1bn in value for the kingdom through the creation of new biotech assets. The collaboration aims to position Bahrain as a regional biotech hub, with a joint research committee overseeing a three-year…
Image: Supplied Dubai-based proptech platform PRYPCO has launched PRYPCO One, a first-of-its-kind super app aimed at helping real estate agents streamline their workflow through smarter tools, real-time data, and instant rewards. The platform, described as “The One for All Agents,” consolidates exclusive property listings, project information, mortgage services, data insights, and extra commission opportunities into a single ecosystem. According to PRYPCO, the app’s “Insta-Mortgage” feature allows agents to pre-qualify clients within five minutes, reducing delays and generating new commission streams. Agents earn an additional 0.35 per cent of the total mortgage value when deals are closed through PRYPCO. The app…
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Image credit: Supplied Dubai’s real estate market has continued its remarkable upward trajectory in Q3 2025, driven largely by a surge in off-plan sales and sustained investor confidence. According to Metropolitan Premium Properties (MPP), one of the UAE’s leading real estate agencies, off-plan transactions now account for 75.3 per cent of all property sales, reflecting a 26.4 per cent increase compared to the same period in 2024. This surge underscores the growing confidence of both domestic and international investors in Dubai’s property market and highlights the city’s status as a global hub for real estate investment. The total value of…
Image credit: Getty Images Oil prices rose on Monday after US and Chinese economic officials sketched out a trade-deal framework, easing fears that tariffs and export curbs between the world’s top two oil consumers could dent global economic growth. Brent crude futures rose 47 cents, or 0.71 per cent, to $66.41 a barrel by 0629 GMT. US West Texas Intermediate crude futures rose 44 cents, or 0.72 per cent, to $61.94, after rising 8.9 per cent and 7.7 per cent, respectively, in the previous week on US and EU sanctions on Russia. Read more-Oil prices slip on concerns over US-China…
Image: Supplied Hilton announced it has surpassed 100 hotels trading and in the pipeline in Saudi Arabia, representing a combined investment of $8bn from hotel owners and investors, as the US hospitality group accelerates its expansion in the kingdom. The announcement came ahead of the Future Investment Initiative (FII) in Riyadh, a global forum that brings together world leaders, policymakers, and investors to discuss international investment and economic trends. Hilton said it plans to add more than 22,000 rooms across 14 brands as part of its growth strategy in the kingdom, creating more than 15,000 jobs, at least half of…