Xiaomi launches new advanced in-house mobile chip
Beijing, China -- Tech giant Xiaomi unveiled a new advanced in-house mobile chip on Thursday, a significant milestone for the...
Business
Israeli ‘warning’ fire at diplomats sparks outcry amid Gaza pressure
EU foreign policy chief Kaja Kallas urged Israel to hold to account those responsible for the shooting near Jenin, a...
Geostrategy
Economy
Saudi Arabia set to open its first financial center
Riyadh, Saudi Arabia - Saudi Arabia is poised to launch its inaugural financial center, with unified and standardized policies and...
- Chairman of the Steering Committee at the Ministry of Finance, Abdul Aziz Al-Furaih highlighted the advantages of transitioning to accrual-based accounting
- Hamad Al-Kanhal, Deputy Minister of Finance for Financial Affairs and Accounts, underlined the shift to accrual-based accounting as part of Vision 2030
Geostrategy
Illegal Israeli settlers block Palestinian farmers from farming lands
Tubas, Palestine - Colonial Israeli settlers backed by the Israeli military prevented Palestinian farmers from plowing their lands today in...
- Eyewitnesses and local activist Ayman Ghrayeb revealed that a group of settlers hindered several farmers from cultivating their fields in the vicinity of the village.
- He added that the soldiers accompanying the settlers confiscated personal identification cards from the farmers and detained them for several hours.
Business
IHC announces formation of 2PointZero – a next generation holding company
ABU DHABI, UAE - The International Holding Company (IHC) announced the initiation of the transfer of 2PointZero, a next generation...
- 2PointZero is more than a holding company - it embodies a vision of progress across a variety of industry verticals.
- Spanning multiple sectors, business combinations of entities under common control, have been combined to form 2PointZero.
Business
Halliburton, Hamriyah Free Zone in pact
Halliburton has been operating in the UAE for five decades.
- Under the agreement, Halliburton will expand its footprint within the UAE by establishing a cutting-edge facility for calibrating drilling tools used in the oil industry
- The state-of-the-art facility is set to occupy a substantial area of more than one million square feet within the Hamriyah Free Zone
Economy
Saudi Arabia launches skill verification program in Egypt
Riyadh, Saudi Arabia - Saudi Arabia, through its Ministry of Human Resources and Social Development (MHRSD), has initiated the first...
- The collaborative effort with the Egyptian Ministry of Manpower aims to improve the proficiency of professional labor in Egypt
- In its inaugural phase, the SVP will focus on evaluating skills in five key professions: plumbing, electrical work, welding, automotive mechanics, and carpentry
Geostrategy
Israel rejects Hamas’ new proposal for release of Gaza hostages: report
Washington, United States - Israel has rejected a new proposal from Hamas through Qatari and Egyptian mediators for a deal...
- Each phase, according to the proposal, would include a pause in fighting for more than a month in exchange for the release of hostages
- The implementation of the third phase of the deal, which provided for the release of prisoners of war, implied the end of the conflict
Business
ADIB-Egypt introduces Shariah-compliant private banking services for HNWIs
Cairo, Egypt – ADIB-Egypt has launched its exclusive portfolio of Private Banking Services, providing a Shariah-compliant banking proposition for its high-net-worth...
- ADIB-Egypt’s Private Banking platform also provides access to Financial Advisory services led by specialized experts, to help clients' wealth achieve its full potential
- ADIB is also introducing a new service granting clients exclusive access to premier banking products and services in the United Arab Emirates
Business
Albilad Capital to pay dividend
The distribution ratio of the NAV stands at 0.10 percent.
- Albilad Capital confirmed that the dividends would be based on the unitholder register as of the end January 3, 2024.
- The total amount of distributed dividends has been declared at US$24,183, an indication of the fund's robust performance
Business
UAE announces reduction in fuel prices for January
ABU DHABI, UAE - The prices of petrol and diesel are set to decrease in the country in January following...
- This change reflects a continuous trend observed in the fuel prices over the past few months.
- September and October witnessing increases and November and December seeing reductions.
Business
Bank takes over Amiantit subsidiary
The bank will absolve Amiantit of all its financial obligations.
- The debt being cleared constitutes approximately 50 percent of the total liabilities that Amiantit owes to various banks.
- Preliminary estimates suggest the company will recognize profits worth US$128 million as a result of this settlement.
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
Xiaomi launches new advanced in-house mobile chip
Beijing, China -- Tech giant Xiaomi unveiled a new advanced in-house mobile chip on Thursday, a significant milestone for the...
Business
Company News
Latest News
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
Global markets rode AI, interest rate roller coaster in 2024
Paris, France - Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for Artificial Intelligence (AI),...
Economy
In stabilization bid, Syria’s new ruler declares all weapons under state control, including Kurdish arms
Ahmed al-Sharaa announced all weapons, including those held by Kurdish-led forces, will come under state control, emphasizing unity and coexistence...
Most Read
Geostrategy
Qatar PM sees ‘momentum’ on Gaza talks after US election
Doha, Qatar - Qatar's prime minister said on Saturday that momentum had returned to talks aimed at securing a truce and...
- The Gulf emirate, along with the United States and Egypt, had been involved in months of unsuccessful negotiations for a Gaza truce
- But in November, Doha announced it had put its mediation on hold, saying it would resume when Hamas and Israel showed seriousness
‘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...
- Alghamdi said that the planet is facing unprecedented challenges today, from record high temperatures to escalating climate risks that threaten global stability
- Saudi Green Initiative lies at the heart of transformative efforts, being a comprehensive national strategy comprising over 80 initiatives, he added
Science
Saudi Space Agency launches ‘Space Futures Centre’
Riyadh, Saudi Arabia - The Saudi Space Agency (SSA) announced Sunday the launch of the Centre for Space Futures, the...
- The Centre for Space Futures aims to enhance space research, innovation, and international collaboration, boosting Saudi Arabia's role in the global space industry
- The Centre positions Saudi Arabia as a key player in advancing space exploration and technological innovation worldwide