Tech and sustainability drive Singapore’s smart tourism vision
To realize its vision for “smart tourism”, Singapore Tourism Board is leveraging cutting-edge technologies like artificial intelligence, data analytics, and...
Interview
ADNOC Distribution 2024 net profit down 7%
Minus UAE corporate tax, it would have grown by 2.4% to $725m
Business
Business
Saudi Aramco, IBM partner to establish Innovation Hub in Kingdom
The partnership will support tech-driven economic growth in the Kingdom by promoting cutting-edge emerging technologies.
- The partnership will support tech-driven economic growth in the Kingdom by promoting cutting-edge emerging technologies
- New York-based IBM has worked with the energy industry since 1947, when the first computer was installed in Aramco
Business
du revenues vault 10.5%
It posted $863.17m in revenues for the first nine months of 2022.
- Mobile service revenues continued their recovery increasing by 10.7% to $393 million while equipment sales generated revenues of $48 million
- Fixed services revenues soared 22.2% to $243 million, buoyed by the continued strong performance of the consumer segment
Economy
World economy projected to more than double in size by 2045: OPEC
The global primary energy demand is forecast to continue growing in the medium and long-term, increasing by a significant 23%...
- The global primary energy demand is forecast to continue growing in the medium and long-term, increasing by a significant 23% in the next 23 years
- Globally, oil demand is projected to increase from almost 97 million barrels a day (mb/d) in 2021 to around 110 mb/d in 2045
Business
Egypt’s Sovereign Fund accumulates assets worth $621m
Riyadh, Saudi Arabia— Egypt's Sovereign Fund has accumulated assets worth $621-660 million as it seeks to double it by the...
- The CEO of the fund said that the issued capital of the fund has been fully covered at $5 billion
- The army-owned companies Safi and Wataniya would not be seeking stock exchange listings this year, according to the CEO
Economy
WB expects UAE’s real GDP to grow by 5.9% in 2022
The global financial institution said higher oil receipts supplemented with a gradual non-oil recovery in the Emirates will bolster fiscal...
- The global financial institution said higher oil receipts supplemented with a gradual non-oil recovery in the Emirates will bolster fiscal revenue
- The bank expects the real GDP to moderate to 4.1 percent in 2023 as slower global demand may dampen growth due to tightening financial conditions
Infographics
UAE, China eye $200bn bilateral trade by 2030
The UAE is China’s most important trade partner in the Arab world and responsible for 28 per cent of total...
- It re-exports more than 60 percent of Chinese exports to the region, where the value of trade exchange between the two countries has exceeded $70 billion.
- Ali Obaid Al Dhaheri, UAE Ambassador to China, said early this month that UAE and China ties were a "successful model" for international bilateral relations.
Infographics
Major Saudi Arabian cities witness strong demand for residential, office real estate
Saudi government policies like 15 percent VAT exemption on real estate deals and affordable housing programs are boosting residential real...
- Rents and prices for residential real estate in Riyadh and other major cities such as Jeddah is growing, according to JLL.
- The Saudi real estate market is expected to register a CAGR of more than 9.74 percent during 2022 - 2027, according to Mordor Intelligence.
Geostrategy
UAE, Kyrgyz Presidents review bilateral relations
ABU DHABI, UAE - President Sheikh Mohamed bin Zayed Al Nahyan Monday received President of the Kyrgyz Republic Sadyr Japarov,...
- UAE and Kyrgyzstan affirmed their common interest in enhancing bilateral relations.
- The meeting explored various opportunities of the UAE- Kyrgyz friendship and affirmed to further cooperation in economy, trade.
Business
DEWA adds 600MW of clean energy production capacity
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority Saeed Mohammed Al Tayer said DEWA had added...
- Mohammed bin Rashid Al Maktoum Solar Park will have a production capacity of 5,000 megawatts (MW) by 2030.
- The fifth phase is currently underway, with a total capacity of 900MW and investments estimated at $560 million.
Business
Banque Saudi Fransi net profit up 15%
The bank’s profit for the nine-month period peaked at $719m.
- The hike in profit was driven by boost in total operating income, partially offset by an increase in total operating expenses by 20.18 percent.
- The bank said the increase in total operating income was driven by higher net special commission income, exchange income, net as well as other operating income.
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Tech and sustainability drive Singapore’s smart tourism vision
To realize its vision for “smart tourism”, Singapore Tourism Board is leveraging cutting-edge technologies like artificial intelligence, data analytics, and...
Interview
Company News
ADNOC L&S boosts barge fleet
Business
Latest News
$5.8bn worth deals signed in first four days of Dubai Airshow 2023
DUBAI, UAE – Tawazun Council signed 16 deals, worth US$1.3 billion (AED 4.87 billion), with local and international companies on...
Business
UAE defense ministry orders 100 REACH-S unmanned aircraft from EDGE
DUBAI, UAE - EDGE, one of the world's leading advanced technology and defense groups, announced its first major order from...
Business
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Business
UAE warns of visa ban over job loss insurance fines
ABU DHABI, UAE - Some employees who failed to meet an October 1 deadline to sign up to the UAE's...
- Subscribers to the unemployment insurance scheme can make a single payment to cover the year's subscription or quarterly or monthly payments.
- The policy aims to provide a vital safety net for workers in the public and private sector if they lose their job.
Business
Mawani, CMA CGM Group lay foundation for logistics park at Jeddah Islamic Port
RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) and CMA CGM launched on Wednesday a new logistics park at...
- The new logistics park will offer solutions and integrated environmental services and systems.
- It will offer an export center, storage and sorting services and refrigerated storage services.
Geostrategy
Israel pauses bombing in Rafah for four hours
Tel Aviv, Israel - The Israel Defense Forces (IDF) suspended its military operation in Rafah in the southern Gaza Strip,...
- A humanitarian corridor to evacuate civilians from the Palestinian enclave’s northern areas will be available from Al Shifa Hospital to the southern Gaza Strip.
- The Israeli military will allow Palestinian refugees to leave the Al-Shati camp, which the IDF claims to have taken control of,