RIYADH: Telecommunication companies in the Gulf Cooperation Council region are redefining themselves as technology firms to diversify their revenue streams, S&P Global said. In its latest report, the credit rating agency noted that moderate growth prospects for core telecom operations are one of the key drivers which compel these firms to rebrand as techcos.
RIYADH: The UAE’s non-oil private sector expanded in February as it delivered the strongest output growth since June 2019, according to S&P Global’s purchasing managers’ index report. The analysis saw the Middle Eastern country given a PMI standing of 57.1 – up from 56.6 in January – with increased new business, more robust client activity, and intensified marketing and … Read more
RIYADH: Ongoing tensions in the Red Sea will not impact crude shipments transiting from Russia to India, according to S&P Global Commodity Insights. Citing analysts and trade sources, the UK-based agency said Moscow was the biggest supplier of crude to the Asian country in 2023, and this trend is likely to continue over the next 12 months, … Read more
RIYADH: Dubai has recorded robust economic demand, secured new client acquisitions, and witnessed increased project work, all contributing to a surge in new order intakes midway through the final quarter, according to an economic tracker. Despite a slight dip, Dubai’s Purchasing Managers’ Index maintained a positive trajectory, decreasing from 57.4 in October to 56.8 in … Read more