Digital Dubai’s contribution lifts Dubai in global city brand rankings
DUBAI, June 22 — Digital Dubai contributed an estimated AED31 billion ($8.5 billion) to Dubai’s overall brand value, helping the...
Geostrategy
Trump threatens Hormuz tolls as Iran keeps strait closed ahead of Switzerland talks
The developments came ahead of technical talks between U.S. and Iranian officials expected in Switzerland as both sides seek to...
Geostrategy
Business
Qatar reveals program, speakers for Autonomous e-Mobility Forum
Doha, Qatar – The Autonomous e-Mobility (AEMOB) Forum, a groundbreaking initiative in the realm of sustainable transportation, announced its final...
- The event is slated to take place from April 30 to May 2, 2024, at the Qatar National Convention Centre (QNCC) in Doha.
- It has attracted significant sponsorship from over 20 prominent organizations. Notable sponsors include Mowasalat Company (Karwa).
Business
Dubai Chamber attracts MNCs valued at $82.84bn in 2023
Dubai, UAE -- Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers,...
- Initiatives like 'Create Apps in Dubai' triple app developers, fostering innovation and entrepreneurship in the emirate.
- Through workshops and roadshows, Dubai Chamber engages globally, attracting digital companies to the emirate's burgeoning tech landscape.
Business
Alkhorayef Water awarded $458m contract
The operation and maintenance contract will be for over 15 years.
- The existing plants in this package are Al Hafuf STP 1, Al Oyun STP and Al Omran STP. This is in addition to the new one, Al Hafuf STP 2, Argaam reported.
- The design and rehabilitation will be completed in two phases over 36 months from the contract date. Meanwhile, the O&M will be carried out over 15 years (180 months).
Business
Top U.S. stock indices drop for third consecutive day on Wednesday
The S&P 500 dropped for a fourth consecutive session on Wednesday, as Nvidia and other struggling technology names put downward...
- Technology-heavy Nasdaq Composite slid 1.15% to 15,683.37
- Asian shares advanced on Thursday even after sinking technology stocks sent Wall Street lower
Arts & Culture
Saudi Film “Norah”, backed by Red Sea Fund, secures official selection at Cannes
Directed by Tawfik Alzaidi, this Saudi film earned its place in the 'Un Certain Regard' section of the prestigious festival,...
- Set against the backdrop of 1990s Saudi Arabia, "Norah" narrates a tale of liberation through art
- Directed by Tawfik Alzaidi, this Saudi film earned its place in the 'Un Certain Regard' section of the prestigious festival, marking a major moment for Saudi cinema
Business
Sales of Dubai $10m-plus homes surges by 19% to $1.7bn in Q1
Dubai, UAE -- One hundred and five homes priced in excess of US$10 million were sold in Dubai during the...
- Knight Frank says that last year, Dubai recorded 431 home sales above $10 million, nearly 80 percent higher than the next nearest contender—London (240)
- New York (211) rounded off the world's top three most active luxury home markets in 2023.
Geostrategy
GCC nations express deep concern over Iran-Israel skirmishes
In light of the military escalation and developments in the Middle East region, the Ministerial Council of the Gulf Cooperation...
- In light of the military escalation and developments in the Middle East region, the Ministerial Council of the Gulf Cooperation Council held its 44th extraordinary meeting
- The council expressed its deep concern over the recent, dangerous developments of military escalation in the Middle East region and their negative impact
Business
Saudi imposes anti-dumping duties on products from 10 countries
Riyadh, Saudi Arabia -- Saudi Arabia has imposed anti-dumping duties on seven products imported from 10 European and Asian countries,...
- The products included all types of cement, including clinker, from all Iranian companies, with a dumping duty of 67.5 percent.
- The superabsorbent polymer products were also subject to anti-dumping measures on Saudi imports from five countries for five years.
Geostrategy
IEA lowers its forecast for global oil demand growth in 2024
According to the IEA, oil demand growth in Q1 2024 was lower than expected at 1.6 mln bpd, and the...
- The IEA emphasized that decreasing global oil demand growth indicates consumption will peak in the current decade.
- Despite the anticipated decline, however, the current rate of oil demand growth is largely similar to the trend prior to the COVID-19 pandemic.
Economy
Iraqi Prime Minister unveils action plan to revitalize local banking sector
The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign...
- The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign institutions and banks
- Consideration will be given to the credit rating of each bank in this process
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
Digital Dubai’s contribution lifts Dubai in global city brand rankings
DUBAI, June 22 — Digital Dubai contributed an estimated AED31 billion ($8.5 billion) to Dubai’s overall brand value, helping the...
Geostrategy
Company News
Latest News
Millions join ‘No Kings’ protests across US
Geostrategy
Seizure of vessel anchored near UAE coast close to Hormuz raises Gulf tensions
The incident came hours after India condemned an attack on an Indian-flagged vessel off Oman’s coast, calling continued assaults on...
Geostrategy
The generational digital divide is fading among UAE investors, eToro finds
76% of younger investors and 75% of older investors have acted on a recommendation by an AI engine
Pentagon raises Iran war cost to $29 billion
The Pentagon on Tuesday revised the estimated cost of the war on Iran to nearly $29 billion, roughly $4 billion...
Geostrategy
Most Read
Geostrategy
Artificial intelligence rapidly reshaping cybersecurity: WEF
The AI and Cyber: Empowering Defenders report, developed in collaboration with KPMG, highlights measurable gains in cost reduction, response speed...
- Some 94% of cyber leaders identify AI as a defining force and 77% of organisations already use it in their cyber operations.
- The report emphasises that AI’s value in cybersecurity lies in augmenting human expertise, accelerating decisions and strengthening resilience.
Business
Mubadala, Tubacex operationalise TBX Nexxia platform in Abu Dhabi
Mubadala Investment Company and Tubacex Group have announced the full operational launch of their joint venture in Abu Dhabi, activating...
- The Abu Dhabi facility strengthens regional energy supply chains by localising high-performance tubular manufacturing and reducing dependence on overseas processing centres
- ADNOC anchors the project as cornerstone client, securing long-term CRA tubular supply for critical gas extraction and production operations
Business
2PointZero posts profit surge
Growth driven by merger consolidation.
- Revenue jumps to $2.7 billion as mergers and acquisitions drive expansion across multiple sectors and geographies.
- During the quarter, the company acquired a 60.8% stake in ISEM Packaging Group for $192 million.