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The aim is to foster avenues for collaboration in technology.
Business
Saudi Arabia’s air defense commander examines Russia’s S-350, S-400 systems
RIYADH, SAUDI ARABIA – The Commander of the Royal Saudi Air Defense Force Lieutenant-General Mazyad bin Suleiman Al-Amr has inspected...
Geostrategy
Business
Half of finance firms in UK, US prefer internal data collection
Half of all financial services organizations in the US and UK prefer managing web scraping practices internally, compared to just...
- 50 percent of financial services organisations manage web scraping internally
- 38 percent, combine internal practices and outsourcing to third parties.
Business
Bear market triggered by panic-selling presents investment opportunities
Fortunes will be made in this current bear market as in-the-know investors use the 20 percent drop as a major...
- A bear market is the term used to describe the plummeting of financial markets by 20 percent or more from their most recent all-time high.
- “Your future self will thank you. The average bear market lasts less than a year and they typically rebound stronger than before," Nigel Green, CEO and founder of deVere Group,
Economy
UAE Industry Development Council reviews action plan
Industry Development Council meeting reviews recommendations made at the first meeting, progress in implementing them and discusses the development of...
- Industry Development Council recommends launching unified platform for industrial data
- The council reviews suggestions made at first meeting, reflects on progress in implementing them
Business
UAE-Germany non-oil trade surpasses $130 billion in 10 years
The UAE-Germany non-oil trade exchange exceeded AED 478 billion ($130 billion) from 2012- 2021, according to data from the Federal...
- The imports accounted for 89.5 percent of the total trade exchanges, while exports 3.5 percent and re-exports accounted for seven percent.
- The trade exchanges grew by 12 percent by the end of last year to AED35.3 billion against AED31.5 billion by the end of 2020.
Business
Nana ties up with Google Cloud
The alliance will ensure home delivery in 15 minutes.
- Powered by Google Cloud, Nana Direct uses the company’s unique artificial intelligence and data warehousing solution to be well informed about business decisions
- Google said that by virtue of the collaboration it will be able to bring innovative solutions to e-commerce in the kingdom
Business
UAE prohibits export, re-export of Indian wheat, flour for four months
UAE's Ministry of Economy said the "decision comes in view of the international developments that have affected trade flows and...
- Companies that want to export/re-export wheat and wheat flour varieties imported into the country before 13t May need to seek the ministry's permission.
- The firms must submit to the ministry all documents and files that help verify the data regarding the shipment in terms of its origin, date of transaction.
Economy
Global economic growth forecast to pick up towards Q2 end: OPEC report
The global oil demand is anticipated, according to the report, to average 101.8 mb/d in second half of this year,...
- The global oil demand is anticipated, according to the report, to average 101.8 mb/d in second half of this year, up from 98.7 mb/d on average seen in the first half
- Improving mobility in major economies, as well as seasonal containment of the pandemic is projected to support gasoline and distillate demand
Business
UAE to raise 2022 federal budget spending by $334.9m
The UAE will raise its 2022 federal budget spending by an additional Dh1.23 billion ($334.9 million), according to the Federal...
- The FNC said on Twitter that the increased spending will come from the federal government's general reserves
- The UAE's revenue is expected to grow by about Dh374.9 million
Economy
Food security main agenda of UAE delegation in Netherlands
A UAE delegation visits Netherlands to exchange knowledge and best practices in the food sector with their Dutch counterparts with...
- The UAE delegation shared their wide range of expertise with their Dutch counterparts
- The delegation learned first-hand about the latest innovations in Dutch agriculture technology
Economy
Qatar passenger traffic may surge by 105 percent in 2022: Report
The report of Qatar Aviation body is updated with the IATA Air Transport data (Airport-IS) related to schedule statistics until...
- Passenger traffic anticipates a surge ranging from +90 percent to +105 percent compared to the year 2021
- The report suggests that the number of flights at Hamad and Doha International Airports could reach about 28,000
solutions by stc, Devoteam ink MoU
The aim is to foster avenues for collaboration in technology.
Business
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‘Investment in sports a key part of global economy’
“Sports economies involve infrastructure, new talents, air traffic, travel, and other components,” Al Marri adds, noting that there are many...
Business
Saudi Central Bank licenses debt-based crowdfunding finance firm Manafa
Riyadh, Saudi Arabia---The Saudi Central Bank (SAMA) has licensed Manafa, a finance company specialized in debt-based crowdfunding in the kingdom....
Business
Dubai records over $462 million in real estate transactions: DLD
Dubai, UAE--- Dubai real estate market recorded deals worth AED1.7 billion ($462 million) on Thursday, according to Dubai Land Department....
Business
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Geostrategy
Lebanon parliament fails to elect president for the ninth time
Parliament is split between supporters of the powerful Iran-backed Hezbollah movement and its opponents, neither of whom have a clear...
- Hezbollah opponent Michel Moawad, who is seen as close to the United States, won the support of 39 MPs but fell well short of the required majority.
- Moawad's candidacy is opposed by Hezbollah, whose leader Hassan Nasrallah called last month for a president ready to stand up to Washington.
Geostrategy
WHO member states agree to develop draft of pandemic accord in early 2023
GENEVA, SWITZERLAND - Member states of the World Health Organisation (WHO) Thursday agreed to develop the first draft of a...
- This zero draft of the pandemic accord, rooted in the WHO Constitution, will be discussed by member states in February 2023.
- The agreement by the Intergovernmental Negotiating Body, comprising WHO’s 194 member states, was a milestone in the global process to learn from the COVID-19 pandemic.
Geostrategy
Netanyahu secures parliament majority, closer to forming govt
Some Israeli political analysts had forecast that Netanyahu would move to announce a coalition days after receiving his mandate from...
- In Israel's fifth election in less than four years, held on November 1, Netanyahu's right-wing alliance triumphed with ease
- Although a final coalition agreement has not yet been signed, the agreement with Shas gives Netanyahu control over 64 of the 120 seats in the Knesset