Microsoft retires Skype, the online voice and video call pioneer
San Francisco, United States - Microsoft on Friday announced it was retiring Skype, the online voice and video call pioneer...
Science
UAE, France discuss bilateral ties, sign AI cooperation deal
Paris, UAE - UAE President Sheikh Mohamed bin Zayed Al Nahyan and French President Emmanuel Macron of France explored various...
Geostrategy
Economy
UAE to establish prosecution entities specialised in economic crimes, money laundering
Abu Dhabi, UAE - The UAE is establishing federal prosecution entities specialised in economic crimes and money laundering, to develop...
- The establishment of these entities also represents a first step towards investigating and cracking down on crimes such as corporate crimes
- The entities will enhance the UAE’s competitiveness as a global financial and business hub for investment and improving the quality of criminal investigations
Saudi Arabia’s mining company Ma’aden to buy 10% of Brazilian firm
Riyadh, Saudi Arabia - Saudi Arabian Mining Company, known as Ma’aden, has agreed to acquire a 10 percent stake in...
- Manara’s investment into Vale will play a key role in helping it expand the production of copper and nickel
- A binding agreement was signed by Manara, Ma’aden's joint venture, established with the Public Investment
Business
UAE is fourth biggest market for Indian spices
NEW DELHI, INDIA - The UAE ranked fourth in the world among the top 12 markets for Indian spices in...
- World Spice Congress 2023 is being organized on the sidelines of the G20 Summit to be held in New Delhi in September.
- India produces 75 spices out of the 109 varieties listed by the International Organization for Standardization (ISO).
Business
Waha Capital H1 2023 profit up 221%
The company's total operating income was $135m.
- The company recorded total operating income of $135 million in the first six months of 2023
- Its total assets under management (AUM) stood at $2.43 billion at the end of June 2023
Business
Larsen & Toubro to collaborate with banks in the Middle East
Dubai, UAE - Larsen & Toubro (L&T), a Mumbai-based Indian company, has announced plans to collaborate with banks in the...
- The primary objective of this tie-up is not to seek financing for projects, as L&T will continue to self-finance its project execution in the Middle East
- By partnering with regional banks, L&T aims to build strong relationships in the Middle East and ensure smoother project operations
Geostrategy
Qatar pledges $100m for humanitarian assistance to Ukraine
Kyiv, Ukraine - Qatar has pledged $100 million for humanitarian assistance in Ukraine. The funds were meant the rehabilitation of...
- Ukrainian prime minister Shmyhal said that the money will be used for reconstruction in the health and education sectors, and other important humanitarian projects
- Qatar prime minister Jassim Al-Thani reiterated the importance of respecting the sovereignty of Ukraine and its territorial integrity within its internationally recognized borders
Geostrategy
Turkiye will accelerate ongoing defense projects: Erdogan
Istanbul, Turkiye - Turkiye will accelerate ongoing defense projects and find solutions for the sector's requirements, Turkish President Recep Tayyip...
- Speaking at International Defense Industry Fair in Istanbul, Erdogan said the prototypes will be tested for domestic use and exports
- Turkish president said the country's advanced fighter jet Kaan,will make its maiden flight by the end of this year
Business
Aramco, 5 local firms to jointly work on project in Pakistan
ISLAMABAD, PAKISTAN - Five Pakistani state-owned companies are set to collaborate with Saudi Arabia’s Aramco to execute a $10 billion...
- The proposed joint venture will establish a mega refinery in Gwadar with a capacity of 400,000 barrels per day.
- The government of Pakistan has already approved a refinery policy for new projects in the country.
Business
PIF sets up tourism firm Asfar
Firm Saudi Tourism Investment Company has been set up.
- The company will invest in new tourism projects and develop attractive destinations with hospitality, tourist attractions.
- The company will leverage Saudi Arabia’s unique strategic location between the three continents of Asia, Africa and Europe
Business
Tabreed H1 23 net profit $105m
New customers and projects were added in H1 2023.
- In the first half of the year, Tabreed's revenue increased by 9.4 percent YoY to US$290 million, from US$265 million in H1 2022.
- Earlier this month, Tabreed started operating the cooling infrastructure, officially commencing its first operations in India.
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
Microsoft retires Skype, the online voice and video call pioneer
San Francisco, United States - Microsoft on Friday announced it was retiring Skype, the online voice and video call pioneer...
Science
Company News
Latest News
Pakistan greenlights construction of long-awaited Iran-Pakistan gas pipeline
Tehran, Iran - Pakistan has decided to link the gas pipeline from the country's Gwadar port city to the Iranian...
Saudi Arabia cracks down on heritage site defacement with hefty fines
Riyadh, Saudi Arabia - Saudi Arabia has issued a stern warning against damaging the nation's cultural heritage sites, imposing hefty...
Arts & Culture
Saudi solar company ALUPCO partners with Mexico-based Array technologies
Riyadh, Saudi Arabia - Saudi Arabian aluminum extrusion company Aluminum Products (ALUPCO) has entered into a strategic collaboration with Array...
Business
Most Read
Business
Saudi Arabia, China sign MoU to develop air transport cooperation
Beijing, China - Saudi Arabia and China on Thursday signed a memorandum of understanding (MoU) to develop air transport cooperation. The...
- The MoU was signed during the visit to China of Saudi civil-aviation officials
- The areas of cooperation outlined in the MoU include expanding the number of air transportation stops
Business
Saudi media ministry and Google join forces for digital transformation
Riyadh, Saudi Arabia - Saudi Ministry of Media and Google have joined forces in a strategic collaboration aimed at driving...
- The collaborative effort intends to introduce specialized programs to enhance the skills of local media professionals, journalists, and content creators
- The partnership seeks to share global best practices in the media sector, with a particular emphasis on leveraging artificial intelligence tools, especially within newsrooms
Geostrategy
Saudi foreign minister seeks G20 action on Gaza
Rio de Janeiro, Brazil - Saudi Foreign Minister Prince Faisal bin Farhan called on G20 nations to apply pressure for...
- Prince Faisal voiced these sentiments during the inaugural session of the G20 Foreign Ministers' Meeting in Rio de Janeiro, Brazil
- The Saudi minister underlined the imperative for international institutions to uphold their commitments globally and adopt clearer stances