Abu Dhabi launches technology investment company MGX
ABU DHABI, UAE – The Artificial Intelligence and Advanced Technology Council (AIATC) announced on Monday the creation of MGX, a...
Business
Qatar and Estonia sign agreement to avoid double taxation
Doha, Qatar--Qatar and Estonia have signed an agreement to avoid double taxation and prevent income tax evasion.The agreement was signed...
Economy
Business
ADNOC Gas signs US$450-550m Chinese supply deal
Abu Dhabi, UAE--ADNOC Gas today announced an agreement valued between $450 million and $550 million to supply Liquefied Natural Gas...
- ADNOC Gas CEO Ahmed Mohamed Alebri said that China continues to be a key market for the firm, and the deal reinforces "our role as a major LNG supplier"
- Elary this year, the firm -- 90 percent-owned by state oil giant ADNOC -- also signed a three-year supply agreement with France's TotalEnergies Gas and Power
Business
Bank of China opens in Riyadh
It is expected to speed up the use of yuan in trade.
- China's ambassador to Saudi Arabia said that it is the fruit of the continuous development of friendly relations between the two countries
- With the launch of the Riyadh branch, the BOC now operates and provides financial services across 64 countries and regions worldwide
Economy
Saudi Arabia’s economy and fiscal position strong due to Vision 2030: IMF
Riyadh, Saudi Arabia-- Saudi Arabia's economy is in a state of prosperity and growth, and that the kingdom's fiscal position...
- According to an IMF statement, Saudi Arabia is the fastest-growing economy among G20 countries, recording an overall growth rate of 8.7 percent
- The kingdom's non-oil GDP witnessed a growth of 4.8 percent in 2022 driven by robust private consumption and investments in various sectors
Economy
Global trade finance gap grew to record US$2.5trn in 2022: ADB
The Asian Development Bank survey found that rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity...
- With data collected from 137 banks, the survey is the world's leading barometer of trade finance health
- The Russian invasion of Ukraine was seen impacting trade finance portfolios by some 60 percent banks
Business
ADNOC to develop largest carbon-capture project in MENA
According to an ADNOC statement, the project will be able to capture up to 1.5 million tonnes of CO2 a...
- The new initiative will siphon planet-heating carbon dioxide emissions from the Habshan gas processing plant in Abu Dhabi
- ADNOC is hoping to "maintain its leading position in producing low carbon-intensity barrels" of fuel with its carbon capture initiatives
Geostrategy
Arab-Japan ties to see expansion to cultural, environmental, energy fields
Cairo, Egypt-- Vowing to expand their relations to cultural, educational, environmental, and energy fields, Arab states and Japan have expressed...
- Bahrain's foreign minister said dialogue reflects the strong ties and joint commitment between the Arab and Asian regions to further enhance cooperation
- The minister emphasized the importance of both sides' commitment to supporting pluralism, international law, peace, stability, and prosperity for all
Economy
Qatar’s non-energy private sector records strong growth in August
Doha, Qatar--Qatar's non-energy private sector witnessed strong expansion in August on the back of new orders in the manufacturing and...
- According to the QFC's latest purchasing managers' index (PMI) survey, the expansion rate was the third strongest so far in the current year
- QFC CEO Yousuf Mohamed al-Jaida said PMI has held steady over the past six months at a level consistent with solid economic growth
Economy
Healthcare sector in Qatar witnesses remarkable growth, says IPA Qatar
Doha, Qatar--Sustained investment in healthcare infrastructure in Qatar has seen a rapid transformation in the sector as promotion of health...
- A study carried out by IPA Qatar shows that health promotion and disease prevention underpin its commitment to ensuring the well-being of its citizens
- In the next 10 years, digital infrastructure, virtual care, remote patient monitoring and AI will account for some 30% of hospital investments in the region
Business
Gaming industry posts exponential growth in Saudi Arabia: PayerMax COO
Riyadh, Saudi Arabia-- The gaming industry has witnessed exponential growth in Saudi Arabia with an average revenue per paying user...
- By the end of the decade, Saudi Arabia's Vision 2030 aspires to make the kingdom a global hub for gaming and esports
- According to Essay Zhu, Partner & COO of PayerMax, the industry is rapidly evolving in the region, driven by technological advancements
Business
Meeza, QNBFS sign agreement
The liquidity agreement is for Meeza's listed shares on QSE.
- The liquidity provision service is expected to start on September 7, 2023, according to a statement published on the QSE
- Meeza, a Qatar-based venture, is helping speed up Qatar's growth through the provision of top-notch IT services and solutions
Abu Dhabi launches technology investment company MGX
ABU DHABI, UAE – The Artificial Intelligence and Advanced Technology Council (AIATC) announced on Monday the creation of MGX, a...
Business
Company News
Latest News
Alba sets new production record
Business
Abu Dhabi Islamic Bank adopts AI
Business
UAE-Hong Kong non-oil foreign trade surges to US$16.23 billion
Hong Kong--Non-oil foreign trade value between the UAE and Hong Kong expanded in the past year, reaching $16.2 billion in...
Business
Bahrain and South Korea seek to bolster economic, parliamentary ties
Manama, Bahrain--Bahrain and South Korea have reviewed ways to enhance diplomatic, economic and parliamentary cooperation and partnership to benefit the...
Geostrategy
DMCC launches global trade roadshow in London to attract FDI from UK
Dubai, UAE--DMCC has kicked off the ninth edition of its global trade roadshow, Made For Trade Live, in London, seeking...
Business
Most Read
Business
ADIB records 45% jump in net profit
Its revenue climbed 36 percent to US$2.53 billion in 2023.
- The bank in a statement said that Its net profit for Q4 2023 jumped to $408 million, an increase of 29 percent as against Q4 of 2022
- The Abu Dhabi-based bank said that its revenue for 2023 improved by 36 percent to $2.53 billion compared to $1.85 billion last year
Business
Dubai Customs records 30.4m transactions in 2023, posting 17.5% growth
Dubai, UAE--Dubai Customs has successfully processed more than 30.4 million customs transactions during the entire year of 2023.This set a...
- The figures for 2023 have set a new record for the highest number of customs transactions by Dubai Customs, showcasing a 17.5% growth
- The new accomplishment has resulted from the ongoing success of the Comprehensive Economic Partnership Agreements program
Economy
Abu Dhabi establishes Artificial Intelligence and Advanced Technology Council
Abu Dhabi, UAE-- The UAE President Sheikh Mohamed bin Zayed Al Nahyan has issued a law, as the ruler of...
- The council has been set up to develop policies and strategies related to research, infrastructure and investments in AI in Abu Dhabi
- It will formulate plans in collaboration with local and global partners to enhance Abu Dhabi's status in the fields of artificial intelligence