Cisco identifies major AI trends for 2024
DUBAI, UAE – Developments in Artificial intelligence (AI) have been impacting businesses, governments and economies across the world. Advancements in...
Business
Alef Group announces US$84m sales transaction at ACRES 2024
SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant...
Business
Economy
UAE, Egypt, Jordan partner for sustainable economic growth
The countries allocated a US$10bn investment fund, to be managed by ADQ Holding, to accelerate the partnership objectives.
- The countries allocated a US$10bn investment fund, to be managed by ADQ Holding, to accelerate the partnership objectives
- The partnership seeks to enhance growth across food and agriculture, fertilisers, pharmaceuticals, textiles, minerals, and petrochemicals
Business
Shipment value of Saudi cargo trains increases by 25 percent
The shipment value of cargo trains of the Saudi Railway Company (SAR) has increased by 25 percent at the end...
- The trains transported in excess of 5.5 million tons of minerals and goods.
- The levels of traffic safety increased as cargo trains crossed over 1.2 million kilometers.
Business
Saudi Chambers, French group to cooperate in entertainment sector
The Federation of Saudi Chambers, represented by the Saudi-French Business Council, will host a key French delegation representing the entertainment...
- The French delegation comprises 30 business owners and major French entertainment companies in the field of amusement parks, and manufacturing sports products.
- Some 100 business owners and Saudi entertainment companies and the national entertainment committee at the federation could participate in the meeting.
Economy
Unemployment insurance to cut UAE business risk
The insurance is being hailed as a step in increasing the attractiveness of the UAE labor market and its ability...
- The employees who lose their jobs will receive cash support for a period of time until the employee finds another job.
- The decision is significant given the fact that unemployment rate in the country is one of the lowest in the world.
Economy
Dubai ranks second globally in attracting FDI in creative economy
Dubai ranked first in the Middle East and North Africa (MENA) region and second in the world in attracting foreign...
- Surpassing other major cities such as New York, Singapore and Berlin, Dubai improved its rankings from fifth in 2020.
- In terms of the number of new jobs in the creative economy, Dubai held on to its top rank regionally and fourth globally with 6,204 new jobs created from FDI.
Business
Fujairah Cement off Boursa Kuwait
The company has obtained approval of Capital Market Authority-Kuwait to do so.
- Fujairah Cement has obtained approval of Capital Market Authority-Kuwait for voluntary withdrawal from the Boursa Kuwait
- November 30, 2022, will be the last day for trading the Company's shares in Boursa Kuwait, says Fujairah Cement
Business
Dubai Government-Dubai Customs meet discusses best practices
A Dubai Government delegation that visited Dubai Customs was briefed about the department’s experience in budgeting, internal control, and best...
- Through these visits, Dubai Customs supports its strategic relationships with its partners and builds effective, value-added relationships.
- The two sides discussed government innovation and its role in supporting Dubai Customs’ vision and strategic plans.
Business
Qatar First Bank exits its first real estate investment in Baltimore
Qatar First Bank (QFB) has announced the successful exit of Jefferson Square, its first syndicated real estate investment located in...
- QFB acquired Jefferson Square, a class A multifamily residential building, in June 2017 as part of its Sharia compliant real estate investment program.
- Jefferson Square marks the second US real estate exit for QFB following the successful exit of Kennedy Flats, Connecticut in October 2021.
Business
East Pipes’ revenues dip 36% to SAR597m
Saudi Arabia’s East Pipes reported a net loss of SAR3m during FY2022.
- Total sales volumes decreased 26 percent for pipes sales and 23 percent for coating sales
- Gross profit decreased 85 percent to SAR 35 million due to the shrinking production volumes
Analysis
World economies witness new stagflationary shocks
Since the outbreak of the pandemic, the Southeast Asian countries have lagged the performance of advanced economies due to initially...
- The war in Ukraine and the interaction of the highly contagious Omicron variant with China's 'zero-Covid' policy are pushing up global inflation
- Southeast Asia has lagged performance of advanced economies due to initial low vaccination rates, supply chain constraints and less accommodative fiscal policies
Cisco identifies major AI trends for 2024
DUBAI, UAE – Developments in Artificial intelligence (AI) have been impacting businesses, governments and economies across the world. Advancements in...
Business
Company News
Dana Gas net profit up 64%
Business
Al Arabia’s profit up 43%
Business
Latest News
Innovation key to fairer world for people of determination, says UN chief António Guterres
Innovation and technology can be powerful tools for inclusion, enhancing access to information, education, and lifelong learning, opening new avenues...
Arts & Culture
German government to stop unjustified energy price increases
BERLIN, GERMANY - The German government aims to put a stop to energy price hikes it sees as unjustified with...
Business
UN report warns global food crises likely to increase
ROME, ITALY - The world's ability to nourish its burgeoning population is under threat and without broader socioeconomic and environmental...
Geostrategy
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Business
Fans without tickets can attend World Cup matches after group stage ends
Doha, Qatar---World Cup fans without tickets can travel to Qatar and watch the rest of the matches after the group...
- Qatari authorities said Early December feature, which allows fans without tickets to apply for a Hayya Card, will be valid after midnight on Dec. 2.
- Fans will need to show proof of accommodation and pay an entry fee of QAR 500 ($137) to obtain the Hayya Card and enter Qatar. Children under 12 will not be charged.
Geostrategy
Ukraine welcomes Russian oil price cap agreed by EU, G7
Ukraine welcomed a US$60 price cap on Russian oil agreed by the EU, G7 and Australia, saying it would "destroy"...
- Poland had refused to back the price cap plan over concerns the ceiling was too high.
- The embargo will prevent shipments of Russian crude by tanker vessel to the EU, which account for two thirds of imports.
Business
US unveils high-tech B-21 stealth bomber
PALMDALE, UNITED STATES - The United States on Friday unveiled the B-21 Raider, a high-tech stealth bomber that can carry...
- Many specifics of the aircraft are being kept under wraps.
- The plane will offer significant advances over existing bombers in the US fleet.