Abu Dhabi’s private sector grows by over 35 percent in 2023
ABU DHABI, UAE – The Abu Dhabi Department of Economic Development (ADDED) organized, in collaboration with Abu Dhabi Investment Office...
Economy
GASTAT issues FDI statistics of Saudi Arabia for Q4 2023
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) issued on Friday the Foreign Direct Investment (FDI) statistics for...
Economy
Business
Saudi to host second Global Artificial Intelligence Summit in Sept
Riyadh, Saudi Arabia: Riyadh will host the second edition of the Global Artificial Intelligence Summit from 13 to 15 September,...
- AI is expected to boost global gross domestic product (GDP) by 14 percent by 2030, or nearly $15 trillion.
- The summit includes more than 100 sessions in which more than 200 speakers will participate, working with more than 3,000 participants.
Business
CBUAE launches new website with various services
The Central Bank of the UAE (CBUAE) has announced the launch of a new corporate website with various interactive digital...
- The Central Bank of the UAE has launched the corporate website with various interactive digital services for meeting the aspirations of the consumers.
- The CBUAE plans to be among the top central banks globally in promoting financial stability.
Economy
Saudi SMEs number up by 25 percent in Q1 2022: Monsha’at
Riyadh, Saudi Arabia: The number of small and medium enterprises (SMEs) in Saudi Arabia increased by 25.6 percent to 892,063...
- The Riyadh region accounted for 35.4 percent of the total establishments, the Makkah region 21 percent and the Eastern region 12.7 percent.
- Monsha’at report said that 81 percent of these establishments are classified as micro and small establishments.
Science
NASA shoots for the Moon, on its way to Mars
Between 100,000 and 200,000 spectators are expected to attend the launch of NASA's most powerful rocket yet, the uncrewed 98-meter...
- The goal of the flight, dubbed Artemis 1, is to test the SLS and the Orion crew capsule that sits atop the rocket.
- The capsule will orbit the Moon to see if the vessel is safe for people in future. At some point, Artemis will see a woman and a person of color walk on the Moon for the first time
Economy
Beckham to promote Qatar attractions in tourism push ahead of FIFA World Cup
As part of the campaign, Beckham tours the country with several local personalities, exploring spice markets and street art in...
- As part of the campaign, Beckham tours the country with several local personalities, exploring spice markets and street art in the Gulf nation
- The campaign will highlight Qatar’s potential as a destination for quick weekend getaways and stopover packages being offered to transit travellers
Business
Tibbiyah suffers H1 loss of $6m
The Saudi health provider's revenue slumped to $58.54m.
- Tibbiyah said the poor financial performance was due to disruptions in the global supply chain, resulting in sales delays
- The company believes its full-year performance will be better, supported by a typically stronger second half and the investments it has made in 'internal capabilities'
Economy
Ruwad supports 957 projects totalling $9 million
Sharjah acquired 67 percent of the new projects, while eastern region got 21 percent and the central region 12 percent
- Sharjah acquired 67 percent of the new projects, while eastern region got 21 percent and the central region 12 percent
- SMEs are a key player in the UAE's future development plans and a main pillar of its recovery efforts
Business
Women take lead in UAE, invest $9.42bn in 8 months at ADX
Some $9.42 billion have been invested in the financial markets by Emirati women during the last eight months of the...
- It represents a 74.7 percent growth over the corresponding period last year, when their trading value was around $5.39 billion
- Owning $1.06 billion of shares at ADX, there are 219,000 Emirati women investing at ADX until mid-August 2022
Business
Ancient Iranian rug tradition gets makeover as sales sink
Changing tastes and increased competition from Asia have forced some in the trade to redesign and resize a tradition dating...
- Rugs traditionally woven in the Islamic republic are known for dense, curving floral designs in rich colours
- Their beauty and quality have long been recognised worldwide, yet sales have collapsed over the past 30 years
Economy
Saudi central bank’s assets climb to $535 billion in July
For the first time in more than five years, assets of Saudi Arabia's central bank have shot up to $535...
- This translates to a month-on-month growth of 1 percent from the $528 billion in June
- The central bank’s net foreign assets fell by $2.48 billion during July to $445 billion
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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
Abu Dhabi’s private sector grows by over 35 percent in 2023
ABU DHABI, UAE – The Abu Dhabi Department of Economic Development (ADDED) organized, in collaboration with Abu Dhabi Investment Office...
Economy
Company News
Latest News
UAE opens field hospital in Chad to help Sudanese refugees
ABU DHABI, UAE - UAE Ambassador to the Republic of Chad Rashid Saeed Al Shamsi on Sunday opened a field...
Geostrategy
Dubai Customs, Japan seize drugs worth $310m from Tokyo port
DUBAI, UAE- Dubai Customs has assisted Japanese customs authorities in intercepting a significant quantity of illicit drugs. Up to 700...
Geostrategy
OFID, partners offer $60m loan to Tanzania for renewable energy
VIENNA, AUSTRIA - A new US$60 million loan by the OPEC Fund for International Development (OFID) and partners is expected...
Economy
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Business
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...
- Qatar has seen a steady increase in cruise ship arrivals and passenger numbers, and the industry is poised for further growth in the seasons to come.
- In 2022-23 season, most cruise passengers originated from Germany (31 percent), Italy (10 percent), Russia (6 percent) and the United Kingdom (3 percent).
Business
Vodafone, Microsoft ink pact
The two firms will offer AI Digital Contact Centre Platform.
- The MoU was signed by General Manager of Microsoft Lana Khalaf, and Enterprise Business Unit Director at Vodafone Qatar Mahday Saad Al Hebabi.
- With this platform, contact centers will be equipped with modern digital tools to engage customers across voice, video, and other digital channels.
Geostrategy
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...
- The UAE is keen on developing tourism ties with countries and building partnerships in fields that supports economic, social growth and prosperity.
- The UAE had adopted a forward-looking vision to develop a distinguished tourism sector at the regional and global levels.