Saudi Arabia submits official bid to host FIFA World Cup 2034 after successful Qatar event in 2022
The next steps include official visits by FIFA and a comprehensive evaluation of the bid.
Economy
JPMorgan to launch ‘Pay With Your Face’ Shopping
JPMorgan Chase is reportedly preparing to launch a biometric payments system for the masses, the Daily Hodl reported quoting the American...
Business
Economy
UAE Council for Environmental and Municipal Work launches Waste-free Schools project
DUBAI, UAE - The UAE Council for Environmental and Municipal Work held its second meeting, chaired by Mariam bint Mohammed...
- The meeting agenda also featured discussions of several key topics, including the environmental indicators of the We The UAE 2031 vision.
- The minister said that the Council explored transformational environmental projects, in line with the new methodology for federal government work.
Science
Minister reiterates UAE’s support for global biodiversity framework at meeting
MONTREAL, CANADA - UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri participated in the High-Level Segment...
- Almheiri urged other ministers to work together towards achieving the meeting’s objective of adopting the post-2020 global biodiversity framework.
- The minister called for reversing biodiversity loss and realize the 2050 Vision for Biodiversity of a world living in harmony with nature.
Geostrategy
Jordan Army chief, Cyprus defense minister discuss ties
AMMAN, JORDAN - Chairman of the Joint Chiefs of Staff Maj. Gen. Yousef Huneiti received Cyprus Defense Minister Charalambos Petrides...
- Jordan's Chairman of the Joint Chiefs of Staff said Jordan Armed Forces efforts are compatible with global endeavors to combat terrorism.
- Cypriot Defense Minister said there are plans to develop combat capabilities, standardize military concepts of the armed forces of the two countries.
Science
Dubai South, Evocargo to start trials for UAE’s first driverless vehicle
Dubai, UAE - Dubai South and Evocargo will launch UAE’s first autonomous vehicle trials for cargo at the master development’s...
- The trials will see EVO.1, Evocargo’s unmanned electric logistics vehicle, navigate Dubai South’s Logistics District from December until February 2023.
- Perfecting electric and driverless truck technology for the region will help it further reduce its carbon footprint and reinforce the city’s green credentials.
Economy
UAE Financial Restructuring Committee, World Bank discuss bankruptcy law
ABU DHABI, UAE - Members of the Consultative Council of UAE's Financial Restructuring Committee (FRC) has met with experts from...
- The meeting was held virtually and sought to discuss the latest updates on amendments to the bankruptcy law.
- The meeting discussed the proposed amendments to the bankruptcy law in terms of public policy.
Business
Batelco net profit up 9 percent
Batelco said steady revenue growth led to this rise in profit.
- Batelco has announced net profit of BD15.7 million ($41.6 million) for Q3 2021
- This is a 9 percent increase from BD14.4 million ($38.2 million) for the corresponding quarter of 2020
Business
New leaks rock Facebook
Internal documents seem to support the accusations.
- Facebook held back from doing all it could to stop users from being radicalized, say recent leaks
- It is also accused of not doing enough to stop US election misinformation from flooding the social network
Business
$2bn Arada project in new phase
Arada has launched the second residential phase of Masaar.
- The new phase is called Kaya and is located within the Al Suyoh district of Sharjah
- The new phase is said to containing 421 townhouses and villas
Business
DEWA, Ireland explore digital technology cooperation
DEWA CEO Saeed Mohammed Al Tayer and Ireland’s Minister of State for Trade Promotion, Digital and Company Regulation at the...
- This was part of the Irish commercial delegation visit to the Water, Energy, Technology, and Environment Exhibition (WETEX)
- The two parties discussed enhancing cooperation, exchange of experience between DEWA and Irish companies
Business
DEWA gets $10.9bn via IPWP model
DEWA used the IPWP model in a number of its key projects.
- One of the model’s key features includes the implementation of the directives of the leadership
- It also includes adopting a successful partnership model on sound commercial foundations
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Saudi Arabia submits official bid to host FIFA World Cup 2034 after successful Qatar event in 2022
The next steps include official visits by FIFA and a comprehensive evaluation of the bid.
Economy
Company News
EITC to offer fintech services
Business
DP World 2023 profit is $1.5bn
Business
Latest News
Air Arabia shareholders approve 20% dividend for FY2023
SHARJAH, UAE – Air Arabia shareholders approved the distribution of a 20 percent cash dividend for the financial year ended...
Business
ADNOC Drilling to pay $358m dividend
This brings the total dividend for 2023 to $717 million.
Business
Most Read
CI Capital 2023 revenue $134m
The firm’s performance was fueled by strong growth.
- The group’s total on-balance sheet financing portfolio ended the year at US$373 million.
- Corplease, the group’s leasing arm, saw its revenue rise 70 percent to reach US$74 million.
Business
Mubadala, co-investors buy Truist stake
TIH is the fifth largest insurance broker in the United States.
- This investment follows Mubadala’s purchase in 2023 alongside Stone Point Capital and other co-investors of a 20 percent stake in TIH for US$1.95 billion.
- The all-cash transaction, which values TIH at an implied enterprise value of $15.5 billion, is expected to be completed in the second quarter of 2023.
Business
Yanbu NPC loss $129m
The company had reported net profit of $110 million in 2022.
- Against the revenue/sales of SAR 7.02 billion in 2022, the company posted revenue/sales of SAR 4.53 billion in 2023, down 35 percent.
- In a Tadawul disclosure, the company attributed the loss to lower average sales prices for all products compared to the previous period.