NYU Abu Dhabi team develops wireless pill to control gut neurons
Abu Dhabi, UAE -- Researchers at NYU Abu Dhabi (NYUAD) have developed an ingestible device that uses light to activate...
Science
ADNOC Gas awards contracts
Business
Saudis reform Investment Law in bid to attract foreigners
Saudi Arabia announced new business regulations aimed at boosting transparency and easing the process of investing in the kingdom as...
- Update will replace the current licensing process in 2025
- Kingdom wants to hit $100 billion of FDI annually by 2030
Business
ADQ to invest $1bn in Sotheby’s
ADQ will acquire newly issued shares of Sotheby’s to support its growth.
- ADQ’s said the deal reflects its strategic commitment to pursuing value-accretive investment opportunities that contribute to Abu Dhabi's economic diversification.
- Patrick Drahi, who acquired Sotheby’s in 2019, will also invest additional capital alongside ADQ and remain Sotheby’s majority owner.
Science
Imam Turki bin Abdullah Royal Reserve: A hub for over 40,000 beehives
The reserve is a sanctuary for plant life, home to over 180 recorded species, making up 7.5 percent of the...
- Imam Turki bin Abdullah Royal Reserve hosts more than 40,000 beehives across 400 sites
- The beekeepers expressed their appreciation to the reserve authorities for the vital support provided
Business
Oil and gas sector in Arab countries attracts projects worth $406bn
Kuwait: -- The oil and gas sector in Arab countries attracted 610 projects implemented by 356 foreign and Arab companies,...
- United States topped the list as the most important investing country in the Arab region in the oil and gas sector with 85 projects.
- Russia ranked first in terms of investment costs, with a value of US$ 61.5 billion, representing about 15.2 percent of the total.
Business
Abu Dhabi to host Loop CEE travel fair for first time in Middle East
Abu Dhabi, UAE -- The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Miral will host...
- The luxury travel fair is being organized by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Miral.
- Over the course of five days, each exhibitor will have the opportunity to conduct 62 appointments, each lasting for 15 minutes.
Business
Oman, China bilateral trade grows by 8% to $15bn till May
The volume of bilateral trade between the Sultanate of Oman and the People’s Republic of China has increased 8% in...
- The major projects in Oman are in new energy, mining, electricity generation, IT and communications
- Chinese investments in Oman stood at over US$6.6bn
Economy
Bitcoin crashes, Ether has worst drop since 2021 as crypto market melts
Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending Bitcoin down more...
- Bitcoin traded 8.5% lower at below $54,000at $54,000 at time of publishing
- About $700 million of bullish crypto positions using derivatives were liquidated in the past 24 hours
Economy
Fed Chair Powell confirms September rate cut signal
The Federal Reserve kept its key interest rate at 5.25% to 5.5%, citing “some further progress” toward its 2% inflation...
- Central bank’s economic forecasts do not take into account who wins the presidency.
- Powell seemed to rule out the likelihood of a 50 basis-point rate cut
Business
Day after UAE-Chile CEPA, Dubai Chambers and Pro-Chile sign MoU
Under the MoU, both parties will coordinate events aimed at strengthening ties between exporting companies from Dubai and Chile and...
- The CEPA is projected to increase non-oil bilateral to $750 million by 2030, more than doubling the US$306 million shared in 2023.
- Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said the CEPA is expected to come into effect within the next six months.
Business
Saudi trains over 1,000 nationals in coastal tourism market
Riyadh, Saudi Arabia -- The Saudi Red Sea Authority (SRSA), in collaboration with the Ministry of Tourism, has implemented two...
- The training, which focused on customer service experiences and safety principles, was conducted as part of the second edition of the Tourism Trailblazers Program.
- SRSA aims to provide over 210,000 jobs by 2030 and contribute more than SAR 85 billion to the GDP that same year.
NYU Abu Dhabi team develops wireless pill to control gut neurons
Abu Dhabi, UAE -- Researchers at NYU Abu Dhabi (NYUAD) have developed an ingestible device that uses light to activate...
Science
Company News
PIF acquires stake in Saudi Re
Business
Latest News
ADNOC Gas awards contracts
Business
Abu Dhabi records $2.88 billion in real estate transactions in January
Abu Dhabi, UAE -- Abu Dhabi’s real estate market recorded AED10.6 billion in transactions in January, totaling 2,514 property deals....
Business
Dubai’s real estate sector records $207 billion in transactions in 2024
Dubai, UAE -- Dubai’s real estate sector recorded a total of 2.78 million procedures in 2024, the highest in its...
Business
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Business
SIB’s 2024 profit $272m
The profit surpassed AED 1 billion for the first time in bank's history.
- The bank's net profit before tax increased by 36.5 percent, reaching AED1.15 billion.
- The bank saw a significant increase of 45.3 percent in fee and commission income, reaching AED400.4 million
Business
GCC leaders explore regional growth and opportunity at Doha investment meet
The burgeoning creator economy presents an unprecedented opportunity for GCC to outpace global cities and establish itself as the epicenter...
- The event was organized by The Business Year (TBY), a media group that has been providing investors and governments with first-hand insights into the world’s most dynamic markets.
- Attendees and panelists delved into comprehensive discussions that paved the way for an evening of cross-border knowledge sharing.
Economy
Global economy set to face significant challenges in 2025: WEF survey
Geneva, Switzerland – The global economy is set to face significant challenges in 2025, with 56 percent of chief economists...
- Only 17% of chief economists foresee an improvement, pointing to heightened uncertainty in key regions and the need for measured policy responses worldwide.
- Europe continues to rank as the weakest region for the third consecutive year, with nearly three-quarters (74 percent) expecting weak or very weak growth.