‘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...
Iran FM in Saudi for talks on Gaza and Lebanon
Iranian Foreign Minister Abbas Araghchi's arrival in Saudi Arabia aims to address Israeli military aggression in Gaza and Lebanon, seeking...
Geostrategy
Business
Bank of Sharjah profit soars
Total equity increased by 7 percent to $930 million.
- The bank maintained a solid capital position, with a regulatory capital adequacy ratio of 11.51 percent and a Tier 1 capital ratio of 10.33 percent.
- Customers' deposits grew by 5 percent to AED 27,773 million ($7,562 million), highlighting the Bank's ability to maintain a solid and loyal customer base
Geostrategy
‘Election interference, Kangaroo court’: Trump on indictment, says judge hates him
Trump's pending arrest throws a political grenade into next year's White House race and President Joe Biden sidestepped questions from...
- Trump is to be booked, fingerprinted and will have a mugshot taken at a Manhattan courthouse on Tuesday
- Trump, who is currently at his palatial Mar-a-Lago residence in Florida, was initially "shocked" at the indictment
Business
Ajman, Italian-Czech Chambers discuss investment, business opportunities
AJMAN, UAE - The Ajman Chamber of Commerce and Industry’s (ACCI) discussed with the Italian-Czech Chamber of Commerce in Milan...
- Ajman Chamber is keen to enhance its international cooperation and diversify its foreign partnerships.
- The Chamber discussed the competitive elements provided by Ajman economy and the investment opportunities available.
Business
Dubai International Boat Show highlights local marine industry’s global appeal
DUBAI, UAE - Dubai International Boat Show 2023 attracted over 30,000 visitors and industry players from across the globe for...
- Owners and clients are increasingly interested in innovative technologies that can create a greener yacht.
- With brands from 60 countries featured at the show, local manufacturers reported increased business.
Business
Saudi Arabia to host Global Summit of Real Estate leaders
Riyadh, Saudi Arabia -- Saudi Arabia will host the 42nd edition of the Global Real Estate Summit next December in...
- The summit is considered the industry's largest annual gathering, which includes real estate pioneers and CEOs of critical real estate companies from all over the globe
- The global event will hold several sessions, workshops, meetings, and lectures aiming to deal with the challenges of the real estate industry and available investment opportunities
Economy
Egypt raises key interest rates by 200 bps amid soaring inflation
Cairo, Egypt - The Central Bank of Egypt (CBE) raised key interest rates by 200 bps for the first time...
- The increase is in line with analysts' expectations, who suggested a hike ranging between two and three percent after seeing inflation hit record figures in Egypt
- The CBE explained that annual urban headline inflation continued to accelerate to 25.8 percent and 31.9 percent in January and February 2023, respectively
Economy
Joblessness among Saudis falls to 8%, an all-time low
The jobless rate for Saudi women dropped to 15.4 percent in the fourth quarter, down 5.1 percent from the third...
- The labour force participation rate of Saudis remained unchanged at 52.5 percent, and the employment-to-population ratio of Saudis rose by 1 percent to 48.3 percent
- The jobless rate for Saudi women dropped to 15.4 percent in the fourth quarter, down 5.1 percent from the third quarter and 7.1 percent from a year earlier
Business
Saudi ministries ink MoU with Korean NAVER Group for joint digital projects
Riyadh, Saudi Arabia - The Saudi Ministry of Municipal, Rural Affairs, and Housing and the Ministry of Investment have signed...
- Naver will help the Saudi Arabian government with digital transformation projects, possibly involving robotics
- The company pitched its smart building technology used in the Naver 1784 building during the trip to Saudi Arabia
Business
UAE launches new weekly shipping service to Qatar, Kuwait
Abu Dhabi, UAE - The AD Ports Group has launched a new weekly shipping service that facilitates commercial and logistic...
- Through the new service, AD Ports aims to enhance commercial and logistic connectivity with Qatar and Kuwait.
- AD Ports Group would provide customers with a digital appointment booking system for the new service through the Advanced Trade and Logistics Platform (ATLP).
Business
Aldar, Mubadala to develop new commercial assets on Al Maryah Island
Abu Dhabi, UAE - Aldar Properties and Mubadala Investment Company have signed an agreement to develop commercial assets in Al...
- The addition of the new tower will bring Aldar Investment’s total net leasable area of commercial office space to over 400,000 sqm
- Aldar’s active asset management and the increased leasing activity, office leasing occupancy of the four ADGM office towers have reached 96%
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‘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...
Company News
PureHealth to list on ADX
Business
Latest News
UAE market cap soars as top 16 companies hit $734bn
Abu Dhabi, UAE - The aggregate market capitalization of the top 16 national companies listed on local exchanges stood at...
Economy
Saudi Arabia releases 132 animals in NEOM Nature Reserve
RIYADH, SAUDI ARABIA - The National Center for Wildlife, in collaboration with NEOM, has released a total of 132 animals...
Geostrategy
Saudi insurance sector targets 25m beneficiaries by 2030
Riyadh, Saudi Arabia - Saudi Arabia saw an 18% surge in health insurance beneficiaries in 2022, reaching a total of...
Economy
Most Read
Business
Dubai Duty Free achieves all-time record sales of over US$2.16bn in 2023
DUBAI, UAE - The New Year began on a high note for Dubai Duty Free with the announcement of an...
- December 2023 finished for Dubai Duty Free with record monthly sales of US$221 million, an 8.37 percent increase compared to 2022.
- It's 40th anniversary celebrations offered a 25 percent discount on December 20 which led to a shopping spree of $14.8 million in 24 hours.
Business
Weyay recognized as ‘Fastest Growing Digital Bank’ in Kuwait by Mastercard
Kuwait City - Weyay was recognized as 'Fastest Growing Digital Bank' in Kuwait by Mastercard on the sidelines of the...
- Since its inception as Kuwait’s first digital bank in 2021, Weyay has combined technology with a dynamic design for a seamless and comprehensive banking experience
- Weyay has played a major role in providing banking services to the youth and early career professionals, aligning seamlessly with their tech-centric lifestyles
Geostrategy
UAE participates in UN Peacekeeping Ministerial Meeting in Ghana
ACCRA, GHANA - A United Arab Emirates delegation led by Dr. Rashed Ali Al Kaabi, Assistant Minister of Foreign Affairs...
- The ministerial meeting was the first in Africa with previous sessions taking place in the US, the UK, Canada and the Republic of Korea.
- The UAE delegation head held several meetings with the heads of attending delegations, including France, the UK, Bangladesh and others.