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
COP28 UAE
Climate chaos impact on millions frames discussions at COP28
With the countless repercussions of extreme weather conditions, the planet is witnessing increasing political unrest, deaths and diseases.
- Climate extremes pushed 56.8 million people in 12 countries into acute food insecurity in 2022, according to the WFP
- Climate change is also increasing PTSD, anxiety, and depression among survivors of hurricanes, wildfires and floods
Geostrategy
UAE voted to Category-B membership in International Maritime Organization
LONDON, UK - The UAE has been re-elected to the Council of the International Maritime Organization (IMO) in the Category...
- The UAE received the highest number of votes, following comprehensive efforts and an intensive election campaign leading up to the elections.
- The country plays an active role in strengthening the national maritime sector and contributing to the growth of the global maritime industry.
Business
Mumtalakat, Investcorp ink pact
The firms have jointly launched a climate investment platform.
- The platform will make investments in businesses where they have matured past many of the risks that face earlier stage ventures.
- They must manage and minimize the execution risks associated with expansion in middle-market investments.
Business
Astra Tech to launch financial services powered by AI in 2024, says CEO
ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first...
- The CEO said that Astra Tech plans to enter new financial sectors and make acquisitions in South Asia, including India.
- He said that the company is looking to expand into Saudi Arabia to enhance its services in this vital market.
Business
58% of firms in Saudi Arabia plan to outsource cybersecurity
RIYADH, SAUDI ARABIA - Company bosses are boosting their cybersecurity following an alarming increase in cyberattacks, a new study commissioned...
- A survey gathered information about people who influence cybersecurity, looking at both internal staff, and external actors.
- The survey also analyzed levels and types of online safety company bosses believed warranted investment.
Business
CBUAE, Islamic finance organizations discuss sustainable practices
ABU DHABI, UAE - The Central Bank of the United Arab Emirates (CBUAE) hosted several events with Islamic finance infrastructure...
- Participants in the events included officials and experts from international organizations, financial institutions and Islamic financial bodies.
- They aimed to support and advance sustainable Islamic finance while expanding the reach of sustainable finance globally.
Geostrategy
Debt Settlement Fund waives default loans worth over US$107m in UAE
DUBAI, UAE - The Citizens Debts Settlement Fund announced the exemption of 1,244 citizens from their debts with a total...
- The settlement of debts is subject to specific and strict laws and standards regarding the quality of loans and their areas of expenditure.
- Officials of banks, financial institutions and national companies expressed their pleasure and pride in taking part in this national initiative.
COP28 UAE
Rising global temperatures in focus as COP28 kicks off in Dubai
Dubai, UAE--Rising sea levels, vanishing Arctic landscapes, fading coral reefs, acidic oceans, and raging forest fires are common occurrences today....
- Climate change and the El Niño weather pattern, according to many scientists, are to blame for the recent record-breaking temperatures around the world
- According to UN Secretary General António Guterres, people around the world experienced “hell" in countries such as Egypt, France, Greece, and India
Business
UAE presents its maritime contributions at IMO meet in UK
DUBAI, UAE - Presenting its category B candidacy in the International Maritime Organization (IMO) Council at the organization’s focus group...
- The UAE’s strategic location at the crossroads of global shipping routes has enabled it to become a central maritime hub in the world.
- The country has strived to achieve continuous development in the maritime industry, which is a key pillar of its national economy.
Business
EDB commits US$350m for renewable energy projects in developing countries
ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator...
- The ETAF platform is a global climate finance facility established by the International Renewable Energy Agency (IRENA).
- The announcement was made during the signing of a collaborative partnership agreement between EDB and IRENA.
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
Burjeel Holdings net profit up
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Zain KSA net profit $335m
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ADIB 2023 net profit $1.4bn
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UAE announces monthly allowance of 50% of basic salary for imams, muezzins
Abu Dhabi, UAE - United Arab Emirates has announced a provision of a monthly financial allowance equivalent to 50 percent...
Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023
RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
Economy
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Business
Parkin record-breaking IPO raises $428m
The offer was oversubscribed 165 times for all tranches combined.
- Dubai Investment Fund (selling shareholder) had announced 749 million shares, or 24.99% of Parkin's total issued share capital, for the IPO.
- Parkin is expected to commence trading on the DFM on 21st March 2024. At listing, the company will have a market capitalization of AED 6.30 billion ($1.72 billion).
Business
Mubadala to anchor US-based Blue Opal’s second venture capital fund
MIC will be an anchor investor in their second venture capital fund.
- Blue Opal Capital recently launched a Fund-of-Fund platform that focuses on identifying and investing in exceptional entrepreneurial venture capitalists.
- Blue Opal Capital invests in emerging venture capital funds and co-investment opportunities that maximize investment returns for their partners.
Business
Qatar real estate trading volume amounts to US$382m in February 2024
DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...
- The data of the real estate analytical bulletin revealed that 350 real estate transactions were recorded during the month.
- The real estate transactions value index recorded a decline of 27 percent. The traded area index recorded a decrease of 18 percent.