Meta, YouTube face trial over children harm
Opening statements in the first trial began in Los Angeles County Superior Court, where Instagram parent company Meta and Google’s...
Geostrategy
Dubai receives 3.67 million visitors in first two months of 2024
Dubai, UAE--Dubai received 3.67 million overnight visitors in January-February 2024, with an increase of over 18 percent year-on-year (YoY), figures...
Business
Business
OPEC+ decides to keep oil production levels unchanged
Vienna, Austria--The participants of the 53rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum...
- The Joint Ministerial Monitoring Committee of OPEC+ agreed to keep current oil production levels unchanged
- It lauded Russia for announcing that its adjustments in the next few months will be based on production instead of exports
Business
Iran-Turkey trade expands to US$930m in first two months of 2024
Tehran, Iran--The trade exchanges between Iran and Turkey in the first two months of 2024 reached $930 million, showing a...
- According to a report, Turkey’s exports to Iran in January and February reached $580 million, recording a 23 percent increase
- Turkey’s imports from Iran however registered a 22 percent decline and fell from $450m in January-February 2023 to $350m
Business
Central Bank of Bahrain Sukuk Al Ijara oversubscribed by 186 percent
Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al...
- As per reports, subscriptions worth $128.67 million were received for the $69.14 million issue, which carries maturity of 182 days
- The expected return on the issue, which begins on April 4 and matures on October 3, is 5.90%, equivalent to the previous issue
Business
FAB, Microsoft forge partnership
The two will work to develop AI-based banking capabilities.
- The new AI Innovation Hub will focus on innovation, sustainability, and customer experience
- It will accelerate the adoption of new innovations and AI technology into financial services
Business
ADQ launches new firm in healthcare sector
Arcera will aim to improve the quality of "human life."
- It will seek to build a global life sciences powerhouse set to make significant contributions to realizing Abu Dhabi’s 2030 Healthcare Life Sciences Vision
- With a workforce of over 6,500 people in 90 countries all over the world, Arcera aims to offer groundbreaking solutions that foster longer and healthier lives
Economy
Economic growth in Asia forecast to slow to 4.5 percent, says World Bank
Bangkok, Thailand--Asian economies are not doing as well as they could and growth in the region is forecast to slow...
- A World Bank report said that policy uncertainties, trade barriers are impeding the region's economies
- The report added that Asia’s economies are growing more slowly than before the Covid pandemic
Business
Expo Centre Sharjah gives peek into its plan to attract new exhibitors
Sharjah, UAE--Expo Centre Sharjah (ECS) has unveiled its future projects and forthcoming initiatives to develop and enhance the exhibitions sector...
- The ECS intends to expand its operational capacities, augment exhibition areas and venues thereby enticing a broader spectrum of international exhibitors
- The plan was outlined in a meeting of the board of directors designed to meet the business community's aspirations, by providing premier platforms for showcasing products
Economy
China records expansion in factory activity for first time in six months
Shenzhen, China--China's manufacturing activity expanded for the first time in six months in March.The official purchasing managers' index (PMI) rose...
- The PMI jumped to 50.8 in March from 49.1 in February, above the 50-mark separating growth from contraction
- The PMI data showed that the new export orders rose into positive territory, breaking an 11-month slump
Business
UAE exports 31.3m barrels of crude oil to Japan in February
Tokyo, Japan--The UAE exported 44.1 percent, namely 31.3 million barrels, of Japan's crude oil needs in February 2024, according to...
- Japan bought nearly 71 million barrels of oil for February and 96.7% of that came from five Arab countries
- The rest of Japan’s oil imports came from Asia (0.4%), Central and South America (1.7%), and the US (1.1%)
Business
Omantel approves cash dividend
Net profit grew by 13.1 percent compared to 2022
- Omantel continued to successfully implement its strategy Shift Gear despite market challenges and increasing competition.
- Omantel Group revenues and profits, as the group's revenues were up by 9.7percent
Meta, YouTube face trial over children harm
Opening statements in the first trial began in Los Angeles County Superior Court, where Instagram parent company Meta and Google’s...
Geostrategy
Company News
BYD 2025 revenue surges
Business
Latest News
Saudi Arabia unveils $18b plan to turn kingdom into data center hub
The government will work with the private sector, including local and international investors, to achieve the goal The kingdom is...
Saudi Arabia to generate $150 billion in investments from its new transport policy
The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private...
Central Bank of Bahrain Sukuk Al Ijara oversubscribed by 186 percent
Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al...
Business
ADQ launches new firm in healthcare sector
Arcera will aim to improve the quality of "human life."
Business
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Business
Expo Centre Sharjah gives peek into its plan to attract new exhibitors
Sharjah, UAE--Expo Centre Sharjah (ECS) has unveiled its future projects and forthcoming initiatives to develop and enhance the exhibitions sector...
- The ECS intends to expand its operational capacities, augment exhibition areas and venues thereby enticing a broader spectrum of international exhibitors
- The plan was outlined in a meeting of the board of directors designed to meet the business community's aspirations, by providing premier platforms for showcasing products
Economy
China records expansion in factory activity for first time in six months
Shenzhen, China--China's manufacturing activity expanded for the first time in six months in March.The official purchasing managers' index (PMI) rose...
- The PMI jumped to 50.8 in March from 49.1 in February, above the 50-mark separating growth from contraction
- The PMI data showed that the new export orders rose into positive territory, breaking an 11-month slump
Business
UAE exports 31.3m barrels of crude oil to Japan in February
Tokyo, Japan--The UAE exported 44.1 percent, namely 31.3 million barrels, of Japan's crude oil needs in February 2024, according to...
- Japan bought nearly 71 million barrels of oil for February and 96.7% of that came from five Arab countries
- The rest of Japan’s oil imports came from Asia (0.4%), Central and South America (1.7%), and the US (1.1%)