Concerns and optimism on World Environment Day as Arabian Gulf takes bold initiatives
Political and business leaders in the Arabian Gulf region push for sustainability agenda to secure clean environment for the future...
Economy
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...
Business
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)...
- 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
Business
Microsoft, AI to set up data-center project
It will cost US$100bn and will include an AI supercomputer.
- As per a media report, Microsoft would be responsible for financing the project, which would be 100 times more costly than some of the biggest current data centers
- OpenAI's next major AI upgrade is expected to land by early next year, the report said, adding that Microsoft executives are looking to launch Stargate as soon as 2028
UAE and Kenya sign agreement to enhance digital, tech cooperation
Abu Dhabi, UAE--The UAE and Kenya have signed an investment memorandum establishing a framework for investment cooperation in digitalisation and...
- The cooperation between the two countries could also include developing data centre projects with a total capacity of up to 1,000 megawatts
- The African country is also becoming a preferred investment destination for data centre providers, with the growing demand for cloud services
Business
Amanat FY 2023 revenue $195m
The company's revenue grew by 40 percent year-on-year.
- Amanat announced a proposed dividend of US$13 million for FY 2023, with additional interim dividends planned for 2024.
- The balance sheet reached US$158 million in cash at year-end, and low leverage provided significant capital for deployment.
Concerns and optimism on World Environment Day as Arabian Gulf takes bold initiatives
Political and business leaders in the Arabian Gulf region push for sustainability agenda to secure clean environment for the future...
Economy
Company News
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...
FAB, Microsoft forge partnership
Business
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...
Economy
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...
Business
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)...
Economy
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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
Business
Microsoft, AI to set up data-center project
It will cost US$100bn and will include an AI supercomputer.
- As per a media report, Microsoft would be responsible for financing the project, which would be 100 times more costly than some of the biggest current data centers
- OpenAI's next major AI upgrade is expected to land by early next year, the report said, adding that Microsoft executives are looking to launch Stargate as soon as 2028
UAE and Kenya sign agreement to enhance digital, tech cooperation
Abu Dhabi, UAE--The UAE and Kenya have signed an investment memorandum establishing a framework for investment cooperation in digitalisation and...
- The cooperation between the two countries could also include developing data centre projects with a total capacity of up to 1,000 megawatts
- The African country is also becoming a preferred investment destination for data centre providers, with the growing demand for cloud services