New WEF report reveals how tech convergence will reshape industries
Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries...
Geostrategy
ADNOC Drilling secures $1.15bn contract
The contract for two jack-up rigs begins in the second quarter.
Business
Business
AD Ports, IDB ink deal to enhance UAE-Iraq trade flows
Abu Dhabi, UAE - AD Ports Group and International Development Bank (IDB) have signed a deal to review opportunities for...
- IDB aims to provide its services to corporate clients and support a range of key infrastructure projects in UAE and Iraq.
- The UAE and Iraq have continued to strengthen trade ties in 2022, with several trade agreements and development deals.
Business
UAB posts $32.39 million net profit
Third quarter operating income grows by 4 percent.
- In a statement, the bank said the growth in net profit is a result of improved operating performance and lower expected credit losses.
- The bank returned to profitability due to the execution of an effective strategy, said Sheikh Faisal bin Sultan bin Salem Al Qassimi, Chairman of the Board of Directors UAB.
Economy
Abu Dhabi to host World Islamic Economic Forum in 2024
Launched in 2005 by the WIEF Foundation, the WIEF is a global platform created to promote and discuss the latest...
- Launched in 2005 by the WIEF Foundation, the WIEF is a global platform created to promote and discuss the latest economic developments
- The Forum strengthens dialogue, exchanging of ideas and knowledge between senior government officials, academics, and business leaders from around the globe
Business
Dana Gas net profit up 64%
The company reported net profit of $161m for 9M of 2022.
- In a bourse disclosure, the company said the gross revenue for the same period increase by 24 percent year on year to AED1.521 billion ($415 million).
- The gains in profit were driven by higher realized prices, “prudent cost control and strong operational performance in the Kurdistan Region of Iraq (KRI)”, the filing said.
Geostrategy
Biden’s upcoming foreign trip to focus on Climate, Ukraine, China
Biden's tour would include meetings of ASEAN and the Group of 20 industrialised nations in Cambodia and Indonesia.
- Biden's tour would include meetings of ASEAN and the Group of 20 industrialised nations in Cambodia and Indonesia
- The trip will begin two days after the US midterm elections which will determine whether Democrats keep their congressional majorities
Business
Villas, apartments form major chunk of $598m Dubai realty deals Tuesday
Dubai, UAE---Dubai real estate market recorded realty deals worth AED2.2 billion ($598 million) on Tuesday, according to the data by...
- The deals include 544 sales transactions worth AED1.64 billion, in addition to 78 mortgage deals of AED590.54 million.
- Residential properties in the UAE remain a top priority for international real estate investors.
Business
Al Arabia’s profit up 43%
Its profit rose to $52 million in first nine months.
- The Riyadh-based firm, partly owned by media giant MBC group, saw its revenue jump 64 percent to $216 million
- It added that the results were bolstered by the company's efforts to enhance regional expansion and enter new projects and strategic partnerships
Economy
AIIB, GEAPP partner to fund the energy transition in Asia and beyond
The partnership will address the energy transition challenges around the world through the identification of co-financing opportunities for projects.
- The partnership will address the energy transition challenges around the world through the identification of co-financing opportunities for projects
- The partnership follows extensive cooperation between AIIB and GEAPP over the last year and is the first time AIIB has partnered with a global foundations-led initiative
Videos
Video: TOP CEO Conference discusses fake news in May, months later social media giants take action
Facebook, Instagram, Twitter and other social media platforms have reportedly blocked campaigns aimed at influencing opinion in Central Asia and...
- Facebook, Instagram, Twitter and other social media platforms have reportedly blocked campaigns aimed at influencing opinion in Central Asia and the Middle East
- Businesses in the MENA region are at an increased risk from online fake news which costs US$80 billion to the global economy every year
Geostrategy
Jordan sets up program to protect witnesses, whistleblowers
Amman, Jordan— Funded by the Canada Fund for Local Initiatives (CFLI), Jordan has launched a program aimed at better protecting...
- MP Omar Ayasra emphasized the significance of providing witnesses and whistleblowers with protection during a ceremony held on Monday to launch the project
- Secretary-General Ibrahim Majali revealed that only 10 percent of incoming complaints are followed up, while 90 percent proved untrue thus far
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
New WEF report reveals how tech convergence will reshape industries
Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries...
Geostrategy
Company News
Latest News
Mideast ministers met with Joly, Trudeau in Ottawa to discuss Israel-Hamas war
OTTAWA, CANADA — A group of foreign ministers from the Palestinian Authority, Saudi Arabia and Turkey met Canadian Foreign Affairs...
Geostrategy
Israel must be held accountable for its actions, says Palestinian PM
DOHA, QATAR - Prime Minister of Palestine Mohammad Shtayyeh called for holding Israel accountable, imposing sanctions and not allowing it...
Geostrategy
Most Read
Geostrategy
Joint ministerial committee meets US secretary of state
Washington, US – A committee of the Joint Arab-Islamic Extraordinary Summit under the chairmanship of Prince Faisal bin Farhan bin...
- A ministerial committee led by Saudi foreign minister holds discussions with US Secretary of State.
- The committee asked the US to influence Israel and called for an immediate ceasefire in Gaza.
Geostrategy
IMF, UAE, other countries meet on anti-money laundering, counter terrorism financing
ABU DHABI, UAE - International Monetary Fund (IMF), in collaboration with the UAE Executive Office of Anti-Money Laundering and Counter...
- Participants from 15 countries and organizations took part in the meeting.
- They agreed on strong collaboration among AML/CFT supervisory agencies.
Business
Dubai faces warehouse shortage, says new report
DUBAI, UAE — The supply of under construction warehouse stock in Dubai’s industrial market stands at 1.56 million square feet according...
- The report says that demand is outstripping supply and occupiers are faced with the prospect of leasing more secondary stock.
- Across the six primary submarkets tracked by Knight Frank in Abu Dhabi, rents have remained unchanged thus far during H2.