2025 IT Security Predictions
Cloudflare, a leading connectivity cloud company recently published an Op-Ed by Grant Bourzikas, CSO, tackling IT security predictions for 2025
Saudi Arabia’s non-oil exports surge by nearly 23% in Sept 2024
Riyadh, Saudi Arabia -- Saudi Arabia's non-oil exports surged by 22.8 percent in September, according to a report by the...
Business
Business
Saudi Center for Debt Management invites investors for bond repurchase
Riyadh, Saudi Arabia---Saudi Arabia’s National Center for Debt Management announced Wednesday that it has invited investors for the first partial...
- The Center said the process is part of the kingdom’s plan in the effective management of the debt portfolio.
- The size of the repurchase will be announced after the end of the period of receiving applications on October 24.
Business
ENOC opens new station in Al Hamriya Port
This would be the eighth marine service station in the emirate.
- The station is equipped with two fuel tanks and two fuel dispensers, offering Diesel, as well as a prefabricated structure featuring a ZOOM convenience store.
- ENOC said the station is equipped with energy efficiency features such as Variable Refrigerant Flow (VRF) air-conditioning to cut down electricity use by up to 35 percent.
Economy
Saudi crown prince unveils National Industrial Strategy
The strategy aims to diversify the kingdom's economy and increase GDP and non-oil exports by promoting industry and attracting investment.
- The strategy aims to diversify the kingdom's economy and increase GDP and non-oil exports by promoting industry and attracting investment
- The policy also intends to raise the number of factories in the kingdom from 10,640 at the moment to 36,000 by 2035
Business
Mubadala acquires stake in Skyborn
Skyborn Renewables is the world’s largest private offshore wind developer.
- The investment by Mubadala also includes the acquisition of a stake in GIP’s 50 percent interest in NY Bight Project called Bluepoint Wind.
- In April this year, Mubadala was part of a BlackRock Real Assets-led consortium which agreed to invest $525 million into the renewable energy arm of India’s Tata Power.
Business
Video: Transparency is hallmark of TOP CEO Awards as GCC winners get honored
From among a small pool of short-listed CEOs of listed firms, each winner was picked on the basis of growth,...
- For the process not only to be fair and trustworthy, but also to be seen as such, another layer of transparency and accountability was added by roping in iNseaD business school
- Global auditors were also brought in to ensure full transparency in the work
Business
Aramex acquires eCommerce enabler MyUS
The acquisition integrates MyUS into Aramex’s business.
- The acquisition paves the way for MyUS’s integration into Aramex’s business, operating as a business unit within the Company’s Courier business segment
- MyUS will retain its brand name and will be complementary to Shop & Ship, Aramex’s subscription based last mile e-Commerce solutions platform
Business
Sipchem posts jump in profit
It recorded a 37% increase in net profit to $800m.
- The company said in a bourse filing that it had recorded a profit of $533 million for the same period a year earlier
- Yet the petrochemical maker's stock declined 1.42 percent to touch $11 at the close of Tuesday
Economy
UAE gross banks’ assets up 0.9% to over $1tn by Aug end
The Money Supply aggregate M2 increased by 1.4 percent from $437 billion at July end to $443 billion at the...
- The Money Supply aggregate M2 increased by 1.4 percent from $437 billion at July end to $443 billion at the end of August
- The Money Supply aggregate M3 also rose by 2.4 percent from $535 billion at July end to $549 billion at August end
Economy
UAE to provide Ukraine with $100m in humanitarian aid
Minister of State for International Cooperation Reem bint Ebrahim Al Hashimy said the UAE's continued efforts to mitigate the humanitarian...
- Minister of State for International Cooperation Reem bint Ebrahim Al Hashimy said the UAE's continued efforts to mitigate the humanitarian impact of the Ukraine crisis
- Al Hashimy added that the UAE has provided similar aid in recent months to Ukrainian refugees in Poland and Moldova
Geostrategy
Abu Dhabi, Bangladesh to enhance trade, economic ties
The Abu Dhabi Department of Economic Development (ADDED), and Bangladesh Embassy in Abu Dhabi, have organized the Economic Cooperation Forum...
- Abu Dhabi and Bangladesh bilateral trade and mutual investments are on the rise.
- The Emirate and Bangladesh have organized the Economic Cooperation Forum to enhance mutual investment opportunities.
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
2025 IT Security Predictions
Cloudflare, a leading connectivity cloud company recently published an Op-Ed by Grant Bourzikas, CSO, tackling IT security predictions for 2025
Company News
FAB H1 2023 net profit $2.2bn
Business
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SALIC buys 10.7% stake in BRF
Business
ADNOC L&S buys VLCC
Business
Saudia records 50 percent growth in operations during Umrah season
JEDDAH, SAUDI ARABIA - From the start of the month of Muharram until the end of Rabi' Al-Awwal, Saudia Airlines...
Business
Over 8,000 Palestinian fatalities, including 2,062 women, says UN report
UNITED NATIONS – More than 8,000 Palestinian fatalities were reported as of October 29, 2023, including 2,062 women, 3,324 children,...
Geostrategy
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Geostrategy
Iran, Russia to invest $38bn in developing INSTC
TEHRAN, IRAN – The Iranian head of Solyanka Port in Russia said that the International North-South Transport Corridor (INSTC) is a...
- The Iranian head of Solyanka Port spoke of the measures taken by the Islamic Republic of Iran Shipping Line (IRISL ) to develop the INSTC route.
- The IRISL group purchased 30 rail wagons, 5,400 containers and ordered the construction of 21 equipped vessels for strengthening maritime routes.
Business
Saudi Arabia’s Ministry of Investment inks 3 MoUs at FII7
RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Investment signed three memoranda of understanding (MoU) in the fields of biotechnology,...
- The MoUs related to the biotechnology and pharmaceutical sectors aim to explore, develop, manufacture and market a range of potential new medicines.
- The MoU of the financial services sector aims to provide an opportunity for investors to invest directly in key projects in line with the Saudi Vision 2030.
Business
PIF, Pirelli establish a JV
The JV will set up a facility to make tires in Saudi Arabia.
- PIF will hold a 75 percent stake in the new JV with Pirelli holding the remaining 25 percent.
- The JV will manufacture high-quality tires for passenger vehicles, under the Pirelli brand, in the Kingdom.