Hackers stole US$2.2bn in crypto through 2024, Chainalysis Research
Crypto hackers stole US$2.2bn worth of crypto. This amount was a 21 percent yoy increase, the fourth consecutive year they...
Vegetable oil pushes global food prices to seven-month high in Nov
Rome, Italy -- The benchmark for world food commodity prices rose in November to its highest level since April 2023,...
Business
Economy
ZATCA sets criteria for target firms to apply phase II of e-invoicing
RIYADH, SAUDI ARABIA - The Zakat, Tax and Customs Authority (ZATCA) has set the criterion for selecting target establishments in...
- ZATCA said that it will notify all targeted establishments in preparation for linking the electronic billing systems with the Fatoora platform, starting January 1, 2024.
- It stressed that phase II includes additional requirements including issuing E-invoices based on a specific format.
Geostrategy
Ukraine, Lebanon top agenda as Saudi crown prince meets French president
Saudi Arabia has maintained a cautious stance throughout the invasion of Ukraine by Russia, stopping short of condemning the assault...
- The visit of the 37-year-old Crown PrInce, comes less than a year after his last visit to the Elysee Palace and underlines the warm relationship between Paris and Riyadh
- Crown prince is due to attend a Paris summit on a New Global Financing Pact hosted by Macron on June 22-23 and an official Saudi reception for Riyadh's candidacy for Expo 2030
Business
RTA signs strategic partnership agreement with Al-Futtaim Automotive
DUBAI, UAE - Dubai’s Roads and Transport Authority (RTA) has signed a strategic partnership agreement with Al-Futtaim Automotive to deploy...
- The agreement will support RTA's sustainable transport network and the Zero-Emissions Public Transportation in Dubai 2050 strategy.
- Al-Futtaim Automotive will also provide assistance for building the Authority’s electric charging technology and infrastructure.
Business
10th Arab-China Business Conference opens in Riyadh
The conference -- being held under the theme "Collaborating for Prosperity" -- aims to strengthen the Arab-Chinese friendship and foster...
- The conference -- being held under the theme "Collaborating for Prosperity" -- aims to strengthen the Arab-Chinese friendship and foster a shared prosperous future
- China is now the largest trading ally of Arab nations with a trade exchange of $430bn in 2022, a 31 percent increase from 2021, with Saudi Arabia leading the league
Business
Dubai International Chamber launches International Partners Network
DUBAI, UAE - Dubai International Chamber (DIC), one of the three chambers operating under Dubai Chambers, has launched the International...
- The International Partners Network will be focused on updating stakeholders on the chamber's attraction and expansion plans.
- The network supports the Chamber's strategic objectives of attracting 100 SMEs, 30 MNCs, expand100 Dubai-based companies by end of 2024.
Business
RAKEZ launches Traders District as a one-stop solution
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) has announced the launch of Traders District to support...
- Traders District is designed to offer a host of benefits, including business set-up solutions, simplified access to global supply chains.
- In 2022, RAKEZ recorded 206 percent increase in the number of new trading companies that set up in the economic zone.
Geostrategy
Sharjah Chamber concludes successful 5-day trade mission to India
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has successfully concluded its trade mission to India after...
- The trade mission visited New Delhi and Mumbai to discuss potential investment opportunities.
- The business gatherings has served as an effective platform to discuss potential investment advantages.
Business
MoIAT, Shahin sign strategic partnership to enhance UAE’s green mobility
ABU DHABI, UAE - UAE Ministry of Industry and Advanced Technology (MoIAT) has signed a Letter of Intent (LoI) with...
- According to the Global Electric Mobility Readiness Index (2022), the demand for electric vehicles in the UAE has been rising over the past few years.
- The report shows the UAE, which has more than 300 charging stations, has one of the largest charging-station-to-vehicle-ratios in the world.
Business
ADNOC signs deals with 60 firms to produce key non-oil products in UAE
Abu Dhabi, UAE - ADNOC signed deals with more than 60 UAE-based and international companies to locally manufacture key non-oil...
- This brings ADNOC closer to its target to locally manufacture $19 billion worth of products in its procurement pipeline.
- In addition, the deals enabled AED2.84 billion ($774 million) to flow back into the UAE economy through industrial investments.
Economy
Meeting discusses growth of new economic sectors in UAE
ABU DHABI, UAE - The Economic Integration Committee held its second meeting this year and discussed a range of key...
- The Committee also discussed strengthening of the Anti-Money Laundering/ Combating the Financing of Terrorism ( AML/CFT) efforts.
- The meeting discussed cooperation between the federal and local authorities concerned with the implementation of various economy-related laws.
Hackers stole US$2.2bn in crypto through 2024, Chainalysis Research
Crypto hackers stole US$2.2bn worth of crypto. This amount was a 21 percent yoy increase, the fourth consecutive year they...
Company News
Agility 2023 net profit $272m
Business
Latest News
DEWA okays $844m dividend
Business
flynas UAE expansion plan to increase number of routes, flights
Dubai, UAE -- flynas, the Saudi budget carrier, has announced expansion plans for the UAE from September this year, which...
Business
Dubai records 5.18m international overnight visitors in Q1
Dubai, UAE -- Dubai welcomed 5.18 million international overnight visitors from January to March 2024, an 11 percent rise over...
Business
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Business
Miral Destinations to showcase latest attractions at ATM 2024
Abu Dhabi, UAE -- Miral Destinations, a subsidiary of Miral and promotional partner for Yas Island and Saadiyat Island Abu...
- Scheduled to take place from 6-9 May in Dubai, ATM offers a stage for Miral Destinations to demonstrate its dedication to innovation and sustainable tourism, media reports said.
- Saadiyat Island Abu Dhabi is launching the ‘Elevate your Senses’ campaign during Arabian Travel Market.
Business
UpLink launches initiatives to push circular carbon economy transition
Riyadh, Saudi Arabia -- UpLink, the World Economic Forum community dedicated to supporting early-stage impact-focused entrepreneurs, has announced the launch...
- In collaboration with Saudi Arabia's Ministry of Economy and Planning and Ministry of Energy, UpLink unveiled its Circular Carbon Economy Partnership.
- The partnership aims to select a cohort of 10-20 early-stage startups to receive support in scaling their impact over the next year.
Geostrategy
Saudi Arabia calls for ‘real commitment’ towards a Palestinian state
Riyadh, Saudi Arabia --Â Saudi Arabia has called for a "real commitment to a two-state solution that is a credible, irreversible...
- At the WEF meeting, Prince Abdulaziz bin Salman, Minister of Energy, said a just and equitable energy transition will only be achieved by using a range of energy sources.
- Saudi Arabia's tourism sector has nearly doubled, growing from $35 billion to $66 billion, and set its sights on reaching $80 billion this year.