AI adoption in GCC surges as governments and the private sector embrace technology
With 93% of Saudi workers considering generative AI essential, alongside 95% in the Middle East and 79% globally, the region's...
Disparities in climate action risk worsening global economic inequality, warns new report
Geneva, Switzerland – A recent report by the World Economic Forum (WEF) highlights the growing concern that unequal access to...
Economy
Business
DEWA 2022 profit is $3bn
DEWA reported consolidated revenue of $7.46 billion.
- DEWA reported consolidated revenue of $7.46 billion and net profit of $2.17 billion
- DEWA’s minimum reserve margin in 2022 for power and water was 28% and 15.2% respectively
Business
UDC posts $107mn net profit
Established in 1999, UDC was first listed on the Qatar Exchange in June 2003.
- Established in 1999, UDC was first listed on the Qatar Exchange in June 2003
- It has an authorized share capital of 0.96 billion and total assets of $6 billion
Business
dans, MBRSC ink MoU for Aerospace Communications, Navigation and Surveillance Infrastructure
dans is the sole air navigation service providerfor four airports, including Dubai Airport, the world's top airport for international travellers.
- dans is the sole air navigation service providerfor four airports, including Dubai Airport, the world's top airport for international travellers
- MBRSC is the government organisation behind space satellite projects like the Emirates Mars Mission, Emirates Lunar Mission and the UAE astronaut programme
Geostrategy
Iran unveils an underground air force base. IRNA says
Last week, Iran claimed Israel launched a drone strike on a military plant in the central city of Isfahan.
- Last week, Iran claimed Israel launched a drone strike on a military plant in the central city of Isfahan
- Western powers accuse Iran of seeking to build nuclear weapons, something that Tehran has always denied
Geostrategy
Qatari, Bahraini foreign ministers discuss talks to resolve issues
Earlier in the last week of January, Bahrain's crown prince and Qatar's emir spoke by telephone. in a sign that...
- Earlier in the last week of January, Bahrain's crown prince and Qatar's emir spoke by telephone. in a sign that the two Gulf countries are making effort to improve ties
- In June 2017, the four countries - Saudi Arabia, the UAE, Bahrain and Egypt - severed diplomatic ties with Qatar, accusing it of supporting militant groups, which it denied
Economy
Integrate Middle East 2023 launches in Dubai on May 16
The event is predicted to bring in over 7,000 professional visitors when it takes place at Dubai World Trade Centre...
- The event is predicted to bring in over 7,000 professional visitors when it takes place at Dubai World Trade Centre from May 16 to 18
- Visitors will be able to explore products and services from the entire pro AV technology provider universe, ranging from world-class command and control centres
Business
DEWA updates strategic plan to include achieving net-zero by 2050
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has updated its strategic plan, adding achieving net-zero by 2050 to...
- DEWA is steadily moving towards reducing its carbon footprint to achieve a sustainable net-zero carbon by 2050.
- The production capacity of clean energy in Dubai is around 14 percent of total power generated.
Economy
UAE Pension Authority to focus on awareness among Emirati employees
ABU DHABI, UAE - The General Pension and Social Security Authority (GPSSA) of UAE has announced its key strategic objectives...
- The authority said that it serve the community with utmost promptness and professionalism.
- There are presently 95,935 Emirati employees working in 9,082 federal, government and private entities in the UAE, who are insured by the GPSSA.
Economy
Lebanese banks start strike to press measures to tackle financial crisis
Lebanese Banks Association is demanding a capital control law that would enshrine informal restrictions on withdrawals in hard currency and...
- Lebanese Banks Association is demanding a capital control law that would enshrine informal restrictions on withdrawals in hard currency and Lebanese pounds
- The Lebanese liquidity crisis first imploded in August 2019, and was further aggravated by both the COVID-19 pandemic in Lebanon and the 2020 Beirut port explosion
Business
Doha Bank, Qatar Cinema profits rise
The bank’s earnings per share amounted to QR 0.25.
- The bank revealed a net profit of $210,267,857 in comparison to a net profit of $193,344,505 for the same period of the previous year
- Qatar Cinema disclosed a net profit of $762,876 in comparison to a net profit of $592,251 for the same period of the previous year
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
AI adoption in GCC surges as governments and the private sector embrace technology
With 93% of Saudi workers considering generative AI essential, alongside 95% in the Middle East and 79% globally, the region's...
Company News
Latest News
15% increase in air traffic at UAE airports during COP28, says GCAA
ABU DHABI, UAE – Airports in the country witnessed a 15 percent increase in air traffic during the 28th Conference...
Geostrategy
79% UAE employees think digital skills crucial for success
Dubai, UAE – About 79 percent of UAE employees believe digital skills are crucial for business success, and 84 percent...
Research
Saudi Arabia eyes $13 billion from media sector
Riyadh, Saudi Arabia - Saudi Arabia aims to increase the media sector's economic contribution, targeting a GDP share of 47...
Economy
Most Read
Economy
Saudi Arabia, South Korea ink pact to manufacture vaccines, biotech solutions
Seoul, South Korea - Saudi Arabia and South Korea on Sunday signed a Memorandum of Understanding (MoU) to collaborate in...
- The agreement was inked between the Saudi Authority for Industrial Cities and Technology Zones "MODON" and the South Korean GL Rapha Holding Company
- As part of the pact, an expanse of 51,000 square meters in Sudair City for Industry and Business is set to be allocated, involving an investment totaling $200 million
Economy
UAE ranks first in Middle East, 4th globally as remote work destination
Dubai, UAE -- The UAE has ranked first in the Middle East and fourth globally as a leading destination for...
- The UAE ranked fourth after Spain, Argentina, and Romania, according to the website, which develops rankings based on a variety of factors
- UAE Minister Omar bin Sultan Al Olama said his country has established a flexible and future-oriented system for remote work
Geostrategy
UAE, Turkey explore ways to enhance bilateral relations
Abu Dhabi, UAE - UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed bilateral ties with Recep Tayyip Erdogan, President...
- UAE President Al Nahyan and Turkish president Erdogan also exchanged views on various regional and international issues of mutual interest.
- The two leaders emphasized the importance of an immediate ceasefire in the Gaza Strip, ensuring the protection of civilians .