Business
Amazon Web Services unveils the AWS Middle East (UAE) region
Abu Dhabi, UAE - Amazon Web Services (AWS) announced Tuesday the launch of its second Region in the Middle East,...
- AWS estimated its projected spending on the construction and operation of new Region will support an average of nearly 6,000 full-time jobs.
- The AWS Middle East (UAE) Region will also add an estimated $11 billion over the next 15 years to the UAE’s gross domestic product (GDP).
Business
DMCC welcomes 15 companies for training program
Dubai Multi Commodities Centre (DMCC), the Government of Dubai Authority on commodities trade and enterprise, has announced that 15 companies...
- The program will support the growth of impact-driven businesses that align with the United Nations Sustainable Development Goals.
- The program is a part of the DMCC’s wider Environmental Social Governance strategy
Business
Museum of the Future’s online store creates global connections
Dubai, UAE - The Museum of the Future has been connecting with people globally through its online store, offering memorabilia...
- The store offers memorabilia inspired by the museum’s design and exhibits, and gives a glimpse into its rich experiences.
- The museum contains products designed in innovative, artistic ways that reflect the spirit of the museum and its values.
Infographics
UAE offers low-risk business climate
Unstable political conditions in several Arab countries make them high- or extreme-risk places for businesses.
- Country risk assessment is the process of determining a nation's ability to transfer payments.
- It takes into account political, economic and social factors. It is used to help organizations make strategic decisions when conducting business in a country with excessive risk.
Business
DEWA ranks as 3rd most valuable utility brand in Middle East
Dubai Electricity and Water Authority (DEWA) has been ranked the third most valuable utility brand in the Middle East and...
- Dubai Electricity and Water Authority has been ranked the third fastest growing brand in the UAE
- The report said that the remarkable success of DEWA's IPO in H1 2022 was also due to the strength of the utility's brand
Business
Hub71 picks latest cohort of tech startups from nine countries
Hub71, Abu Dhabi's global tech ecosystem, has selected its latest cohort of tech startups from a large number of applicants...
- The startups range from FinTech, HealthTech and CleanTech to EdTech, FoodTech and Logistics.
- They will benefit from equity-free incentives worth up to $136,000)and access to enabling programmes and an ecosystem of active investors.
Geostrategy
Iraq, Kuwait, US conduct joint patrol in Arabian Gulf
Ships from the Iraq Navy, Kuwait Naval Force, Kuwait Coast Guard, US Navy, and US Coast Guard participated in maneuvering...
- Ships from the Iraq Navy, Kuwait Naval Force, Kuwait Coast Guard, US Navy, and US Coast Guard participated in maneuvering exercises and maritime security drills
- US ships included patrol coastal ship USS Sirocco (PC 6) and fast response cutter USCGC Charles Moulthrope (WPC 1141)
Science
UN says half of world’s health facilities lack basic hygiene
Sketching a dire picture of the world’s healthcare facilities, the United Nations has said that nearly four billion people are...
- The report said the newly established global estimate, based on data from 40 countries, presents an "alarming picture" of the state of hygiene in health facilities
- Facilities in sub-Saharan Africa were lagging, with only 37 percent having handwashing facilities with soap and water at toilets
Business
Tibbiyah buys stake in rival firm
It bought 51% stake in Innovative Care for $57 million.
- Innovative Care, the Riyadh-based medical firm, operates New You Medical Center
- New You, set up in 2016, is a center specializing in cosmetic and reconstructive surgeries, supported by its pharmacy services provider iPharma
Economy
UAE operates air bridge to provide relief to flood victims in Pakistan
The relief aid includes shelter materials, humanitarian needs, food and medical parcels for those affected by torrential rains and floods
- The relief aid includes shelter materials, humanitarian needs, food and medical parcels for those affected by torrential rains and floods
- The move follows the order of the UAE president Sheikh Mohamed bin Zayed Al Nahyan to provide all forms of support to Pakistan
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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
Company News
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Cruise visitors to Qatar in 2022-23 rise 151 percent
DOHA, QATAR - New data from Qatar Tourism (QT) revealed that the country welcomed 253,191 cruise visitors during its 2022-23...
Business
UAE discusses tourism with India, UK, Indonesia and Japan
NEW DELHI, INDIA - UAE Minister of Economy and Head of the Emirates Tourism Council Abdullah bin Touq Al Marri...
Geostrategy
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Business
Dubai’s weeklong real estate transactions exceed US$4.2bn
DUBAI, UAE - A total of 4,048 real estate transactions worth over US$4.2 billion (AED 15.6 billion) were conducted during...
- The records show that 278 plots were sold for US$473 million, while 2,965 apartments and villas were purchased for US$1.9 billion.
- The top transaction was that of a plot of land in Wadi Al Safa 3 which sold for US$24 million, the records revealed.
Business
CBUAE balance sheet rises to US$172bn at end of April 2023
ABU DHABI, UAE - The Central Bank of the UAE's (CBUAE) balance sheet grew by 6.3 percent on a monthly...
- CBUAE says balance sheet increased YoY to US$33 billion against US$138 billion at the end of April 2022.
- CBUAE has US$72 billion for cash and bank balances in April, along with reserved investments to the tune of US$55 billion.
Business
AD Ports signs 30-year pact to operate Congo’s key port
The first phase works, costing $200m, likely to completed in 30 months.
- The Group will provide the facility with digital services and technology solutions to enhance its efficiency
- It will invest more than $500 million in the development and functioning of the “New East Mole Port”