Study: Legacy technology not impeding adoption of AI and Machine Learning in UAE and Saudi Arabia
Manufacturers see AI as critical for decarbonization (66%), improving ESG scores, energy monitoring (55%), advancing digital twins (68%), and enabling...
Economy
‘AI saved 1.5 billion liters of water, cut carbon emissions equivalent to 1 million trees in Saudi Arabia’
Riyadh, Saudi Arabia – Artificial intelligence (AI) has contributed to saving 150 million sheets of paper and conserving 1.5 billion...
Business
UAE top Arab investor in Egypt with $28bn investments by Q1
Abu Dhabi, UAE - The UAE led the Arab region in terms of investments in Egypt, Jamal bin Saif Al...
- The two countries also aim to increase this figure to $35 billion over the next decade in tourism, education, logistics, food industries.
- The Egyptian market has over 3,000 Emirati companies operating in telecommunications, construction, smart cities
Business
ADNOC L&S to deploy five very large gas carriers
ABU DHABI, UAE - ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of ADNOC, announced on...
- The gas carriers will be owned and operated by AW Shipping, an ADNOC L&S joint venture with Wanhua Chemical Group.
- VLGCs transport liquefied petroleum gas and will provide ADNOC L&S greater flexibility to meet growing global gas demand.
Business
China becomes first Asian country to get a share of Qatar’s landmark natural gas field
Doha, Qatar: Chinese oil giant Sinopec on Wednesday became the first Asian firm to get a stake in Qatar's expansion...
- North Field contains the world's biggest natural gas reserves and extends under the Gulf into Iranian territory
- China is already the biggest customer for Qatar's liquefied natural gas and one of the world's top LNG importers
Economy
Egypt’s Sisi meets UAE leader amid economic woes
Cairo's foreign reserves fell by about 20 percent in one year to $34.45 billion -- about $28 billion of which...
- Sisi has been courting Gulf leaders as Egypt grapples with economic turmoil that has seen inflation shoot up to nearly 34% and the local currency halve in value
- Egypt was hit hard by the impact of Russia's invasion of Ukraine last year, having heavily relied in wheat imports and revenues from tourism from both countries
Business
RAKEZ wins award for Best RPA Excellence during Future Data Summit 2023
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) received the 'Best RPA Excellence Award' during the Future...
- RAKEZ has embarked on its automation journey by utilizing virtual bots to handle visa-related services.
- These virtual bots have successfully reduced the time needed for some of the processes by 1.5 days, completing them within 12 hours.
Geostrategy
Saudi Crown Prince receives US NSA call amid advancing Saudi-Iran detente
The two leaders talked about de-escalation in the region and maintaining deterrence against threats from Iran and elsewhere.
- Sullivan commended the progress made in Yemen over the past year and welcomed Saudi efforts towards a roadmap for ending the conflict
- The two leaders also talked about de-escalation in the region and maintaining deterrence against threats from Iran and elsewhere
Masdar expands US footprint with 50% stake in renewables project
The Big Beau project, located in California, comprises a 128-megawatt solar plant and a 40 MW/160 MWh battery energy storage...
- The Big Beau project, located in California, comprises a 128-megawatt solar plant and a 40 MW/160 MWh battery energy storage system
- It is one of eight projects that Masdar and EDF Renewables have agreed to jointly partner in, with a combined capacity of 1.6 gigawatts (GW)
Geostrategy
UAE Federal National Council speaker, Chinese Ambassador, discuss bilateral ties
Abu Dhabi, UAE -- Speaker of the UAE Federal National Council (FNC) Saqr Ghobash, and the Chinese Ambassador to the...
- The two sides discussed a range of issues of mutual concerns, and ways of developing the overall bilateral ties between the two countries
- Ghobash said that the bilateral cooperation between the UAE and China is a model of an ideal partnership based on friendship and mutual respect
GCC citizens enjoy increased visa-free travel options
GCC citizens have some of the most powerful passports in the world, says a recent report by the Henley Passport...
- GCC citizens have some of the most powerful passports in the world, says a recent report by the Henley Passport Index 2023
- This trend is expected to continue, opening up new possibilities and opportunities for GCC citizens, the report adds
Business
Saudi Arabia’s Infath to hold 11 more public auctions in April
Riyadh, Saudi Arabia - Saudi Arabia's Attribution and Liquidation Center (Infath) will hold 11 public auctions, both physical and online,...
- Auctions start with 25 real estate in the Riyadh region in the Roshan, South Arrow and Ezz.
- A total of 36 real estate properties in Jeddah and 24 such properties in Dammam will also be auctioned.
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
Study: Legacy technology not impeding adoption of AI and Machine Learning in UAE and Saudi Arabia
Manufacturers see AI as critical for decarbonization (66%), improving ESG scores, energy monitoring (55%), advancing digital twins (68%), and enabling...
Economy
Company News
Infracorp logs $29.8m profit
Business
Latest News
ADX lists FAB Green Sakuk
Business
Record-breaking home sales in Dubai’s upscale market in 2023
Dubai, UAE – Sales of properties worth more than $1.35 million and $2.70 million in Dubai hit record levels in 2023,...
Business
Lunate Capital launches Shariah-compliant ETF tracking Indian equities
ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid,...
Business
Morocco joins UAE, Jordan, Egypt, Bahrain in regional industrial collaboration
Manama, Bahrain – Morocco became the fifth country to join the UAE, Jordan, Egypt and Bahrain at the fourth meeting...
Economy
Most Read
Economy
UAE passport most powerful in MENA region, 11th in global index
Abu Dhabi, UAE - The UAE passport has climbed two positions to secure the 11th spot in the 2024 Passport...
- The UAE has been the most improved nation on the Index over the past decade, adding an impressive 106 destinations to its visa-on-arrival list since 2014
- The country's passport continues to lead the region, outpacing other Gulf nations, with Qatar at 53rd, Kuwait at 55th, Bahrain at 59th, Oman at 60th, and Saudi Arabia at 61st
Economy
Saudi PIF Governor: Global demand for metals to rise sixfold by 2040
Riyadh, Saudi Arabia - Public Investment Fund (PIF) Governor Yasir Al-Rumayyan on Wednesday said that the Kingdom’s mineral wealth currently...
- Al-Rumayyan said the Ma’aden mining company owned by the PIF has expanded its exploration activities for gold, zinc, lithium, and other metals
- He revealed that the Kingdom’s mineral wealth currently stands at US$1.3 trillion, with a target to increase it to $1.5 trillion
Economy
WEF 2024 aims to bridge trust gaps amid global discord
Geneva, Switzerland - The World Economic Forum Annual Meeting 2024 is set to gather over 2,800 global leaders in Davos-Klosters,...
- The WEF 2024 entails sessions addressing global security, economic growth, climate action, technological disruption, and health and well-being
- The forum will emphasize public-private collaboration to translate ideas into actionable solutions, acting as an accelerator for cooperation among leaders and initiatives