UAE’s tech industry set to achieve record growth in 2025
Abu Dhabi, UAE - The UAE’s technology industry is set to achieve record growth in 2025, driven by significant expansion...
Economy
UAE discusses temporary Gaza governance with US, Israel, seeks two-state solution assurance: report
Discussions led by the UAE include provisional administration, PA leadership overhaul, and Gaza reconstruction, requiring extensive international cooperation and adherence...
Geostrategy
Science
Barnawi’s voyage: First Saudi female astronaut carries dreams of Arab women to space
Two astronauts, Barnawi and Ali Al-Qarni, said that they are fully prepared for their upcoming scientific mission to the International...
- Two astronauts said that they are fully prepared for their upcoming scientific mission to the International Space Station (ISS) which is scheduled on May 21
- Ali Al-Qarni, a pilot in the Saudi Air Force, said that his scientific knowledge would allow him to work on the cloud-seeding experiment in space
Business
Proven Robotics integrates ChatGPT with Pepper humanoid robot
Dubai, UAE: PROVEN Robotics, a robotic solutions provider, announced the successful integration of natural language artificial intelligence (AI) technology, ChatGPT,...
- The integration presents an opportunity to demonstrate the ground-breaking capabilities of both ChatGPT and Pepper
- The ChatGPT in Pepper offers several significant benefits including improving Pepper’s natural language understanding
Business
A $100m Film Investment Fund established in Saudi Arabia
Riyadh, Saudi Arabia - A new Film Investment Fund was established in Saudi Arabia on Wednesday with a $100m capital...
- The fund is the first capital injection initiative under the Investment Track of Saudi Cultural Development Fund's recently launched Film Sector Financing Program
- It will support film projects, companies, and media infrastructure, while also creating job opportunities and supporting the growth of talent both domestically and internationally
UAE receives wanted terrorist Humaid Al Rumaithi from Jordan
Abu Dhabi, UAE -- The UAE has received a terrorist named Khalaf Abd Al Rahman Humaid Al Rumaithi from the...
- The UAE Supreme Court in 2013 sentenced him in absentia to 15 years in prison on charges of establishing a secret organization
- The procedures for handing over the terrorist were carried out in accordance with the arrest warrant issued against him
Investcorp acquires Jianuo
Jianuo is a leading provider of specialty premium components.
- The acquisition represents a continuation of Investcorp’s strategy of investing in and scaling category-leading growth companies with deep engineering and technology know-how
- Operating out of the Shandong Province and China’s Greater Bay Area, Jianuo is a leading provider of specialty premium components used in fast-growing high-end applications
Business
Beyon announces ‘the biggest ever investment’ in digital infrastructure in Bahrain
Manama, Bahrain - Beyon has announced a major investment of more than $250 million in state-of-the-art digital infrastructure in Bahrain...
- Batelco, part of the Beyon group, has joined the Southeast Asia - Middle East - Western Europe consortium, which is building a 21,700 km-long undersea cable system
- The new subsea cable will create a layer of network diversity and resilience for the heavily used routes connecting the Middle East with Southeast Asia and Western Europe
Innovating from jewelry to carpets, Egyptian brands rise
In the era of global mass production, Egypt's once expansive pool of skilled artisans has shrunk, with many young people...
- Experts in the sector say the global appeal of Arab and Islamic designs from other countries shows Egypt could do more to promote its rich, millennia-old artistic heritage
- Artists and artisans in Egypt, the Arab world's most populous country, draw from a history that spans ancient Pharaonic times, the Mamluk, Ottoman and modern eras
Economy
Saudi Arabia ranks 2nd fastest growing tourism destination in world
The kingdom received about 7.8 million international tourists for all purposes during the first quarter of 2023, representing its highest...
- The kingdom also became 13th globally, advancing by 12 places, as one of the top countries receiving international tourists in 2022
- The number of international tourists who visited the kingdom, for all travel purposes, hit 16.6 million in 2022, WTO reported
Business
CBUAE imposes administrative sanctions on 8 banks
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) imposed administrative sanctions on eight banks operating in the...
- The administrative sanctions take into account the banks' failures to comply with the CBUAE's instructions
- CBUAE works to ensure that all licensed financial institutions abide by the UAE laws, regulations and standards.
Economy
China sets economic growth target of 5% in 2023
Beijing, China - China has set a growth target of approximately 5 percent for the Gross Domestic Product (GDP) as...
- Government Work Report also sets an ambitious goal of generating 12 million urban jobs this year, surpassing the previous year's benchmark of at least 11 million
- The country's GDP experienced a growth rate of 4.5% in the first quarter of 2023 marking the highest growth since the first quarter, according to National Bureau of Statistics.
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
UAE’s tech industry set to achieve record growth in 2025
Abu Dhabi, UAE - The UAE’s technology industry is set to achieve record growth in 2025, driven by significant expansion...
Economy
Company News
Latest News
US to discuss troop withdrawal with Iraq soon: report
New York, United States - The United States will begin talks with Iraq on the withdrawal of US troops from...
Geostrategy
UAE MoD ink deals worth $517m in first two days of UMEX and SimTEX 2024
ABU DHABI, UAE - On the second day of the sixth edition of UMEX and SimTEX 2024, the accumulated value...
Business
EU plans measures to protect sensitive technology from China
The European Union unveiled plans to strengthen the bloc's economic security including measures to protect sensitive technology from falling into...
Geostrategy
Most Read
Business
Global halal market set to hit $7.7 trillion by 2025
Makkah, Saudi Arabia — Global halal market is projected to reach an estimated $7.7 trillion by 2025. Leading the expansion...
- In education and health sectors, recent economic reports foresee the halal economy market doubling from $2.30 trillion in 2020 to $4.96 trillion in 2030
- The Public Investment Fund in Saudi Arabia, a frontrunner in the global halal industry, took the initiative in 2022 to establish a company specializing in the development of halal
Economy
Saudi Arabia set to launch advanced means of air mobility
Riyadh, Saudi Arabia - Saudi Arabia is planning to start air mobility that is most advanced and safest in the...
- The Saudi General Authority of Civil Aviation is spearheading the Advanced Air Mobility (AAM) initiative that encompasses a spectrum of innovative solutions
- The initiative seeks to ease traffic congestion, enhance accessibility to remote areas, and contribute to overall economic and social development
DIB reports $1.86bn net profit
The bank's income rose by 43% YoY to $5.4 billion.
- The bank's Balance Sheet increased to approximately $84.78 billion, up 9% YoY
- Shareholder returns continue to grow with RoTE at 20%, up 300 bps YoY