Sharjah Consultative Council okays emirate’s draft budget 2024
Sharjah, UAE - The Sharjah Consultative Council approved the draft law regarding the budget of departments and entities of the...
Business
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
Economy
Business
Saudi Arabia to ban import of trucks older than five years
Saudi Arabia has declared a ban on the import of trucks older than five years in order to raise the...
- Saudi Arabia's Public Transport Authority said the decision will take effect on May 5, 2022
- It applies to all heavy transport trucks designed for transporting goods and includes locomotives, trailers, and semi-trailers
Business
Aramco, Saudi varsity sign MoU
An Artificial Intelligence center will be set up at King Abdullah University.
- The center will support research, development and marketing of advanced artificial intelligence technologies.
- It will combine leading innovations of digital transformation adopted by Saudi Aramco and the globally accredited academic excellence at KAUST.
Economy
Abu Dhabi non-oil GDP grows by 4.1 percent in 2021: Statistics Centre
Abu Dhabi’s non-oil GDP at constant prices grew by 4.1 percent in 2021, according to Statistics Centre-Abu Dhabi. The emirate’s...
- In 2020, a significant decline in oil prices had caused the emirate’s real GDP to fall by 7.7 percent, oil-GDP by 3.9 percent and non-oil GDP by 11.5 percent.
- In 2021, agriculture, forestry, and fishing expanded by 23.1 percent while the manufacturing activity expanded by 21.7 percent,
Business
ECB, Binance spar over use of cryptos to evade Russia sanctions
The European Central Bank has voiced its concern that cryptos can be used to evade Russian sanctions. But, the co-founder...
- Binance CEO Changpeng Zhao said his firm complies with all government sanctions very strictly
- Founded in China in 2017, Binance doesn't have a global base yet but is pushing its presence in the Middle East
Business
A $40m fund set up in KSA
Al Moammar and Saudi Fransi Capital sets up a private fund.
- One of Al Moammar primary objectives is developing technology start-ups with the focus on disruptive and innovative technologies
- The company said it intends to establish a business incubator, accelerator, and innovation lab, either within the company or as a separate subsidiary
Geostrategy
Environmental issues major cause of health problems globally: WHO
Environment-related issues are among the major causes of health problems worldwide, the World Health Organization has said. In the Eastern...
- In the Eastern Mediterranean Region, environmental risks responsible for 23 percent of the total burden of disease and as much as 30 percent of the disease burden for kids.
- April 7 is being observed as the World Health Day 2022; it will be focusing on environmental threats and their effect on the health of the planet.
Economy
KSA elected member of International Anti-Corruption Academy
The selection followed the Kingdom's admission to the Academy’s membership as one of the founding members of the international organization.
- The selection followed the Kingdom's admission to the Academy’s membership as one of the founding members of the international organization
- The election represents a recognition of the Kingdom’s local and international efforts in protecting the integrity and fighting corruption
Business
Spending on quantum computing will surge to US$ 9.1 billion by 2030: report
Tractica LLC, a market intelligence firm, revealed that spending on quantum computing will surge from US$260 million in 2020, to...
- Tractica LLC, a market intelligence firm, revealed that spending on quantum computing will surge from US$260 million in 2020, to US$9.1 billion by 2030
- 90 percent of organisations will partner with consulting companies or full-stack providers to accelerate quantum computing innovation through 2023, according to Gartner
Arts & Culture
Meta celebrates the spirit of Ramadan through #MonthofGood campaign
Throughout #MonthofGood, Meta will be sharing the stories of Muslim communities making positive impact.
- Throughout #MonthofGood, Meta will be sharing the stories of Muslim communities making positive impact
- The company is also introducing new Ramadan AR effects and weaving Muslim culture into the foundation for the metaverse
Business
e& to pay AED0.4 dividend
The total annual dividend for 2021 is now Dh0.8 per share.
- The Group reported a net profit of AED 9.3 billion, an increase of 3.2 percent year on year
- It also saw a 3.0 percent increase in its aggregated subscriber base, rising to 159 million
Sharjah Consultative Council okays emirate’s draft budget 2024
Sharjah, UAE - The Sharjah Consultative Council approved the draft law regarding the budget of departments and entities of the...
Business
Company News
ADCB Q3 net profit at US$432m
Business
Latest News
ADIB Securities 9M trades $5.98bn
ADIB Securities is a Shari'a-compliant brokerage firm in the UAE.
Business
AD Ports Group, TotalEnergies partner to explore solar power opportunities
The agreement comes as Abu Dhabi accelerates its development of solar energy solutions to support the wider UAE net-zero emissions...
Economy
Jordan and Iraq to deepen political, economic ties
Amman, Jordan— Jordan and Iraq have renewed their commitment to deepen political and economic ties between the two neighboring countries....
Economy
Most Read
Economy
China unveils plan to shore up industrial economy
Beijing will adopt industry, region and enterprise-specific measures to secure the sound development of key industries.
- Beijing will adopt industry, region and enterprise-specific measures to secure the sound development of key industries
- Efforts will be made to tap into market potential to grow consumer demand, stabilise exports of industrial products
Geostrategy
UAE, Turkmen presidents’ meet, witness signing of MoUs, pacts
The agreements included one between the foreign affairs ministries of the two countries and an MoU in the agricultural and...
- The agreements included one between the foreign affairs ministries of the two countries and an MoU in the agricultural and food security sector
- The two leaders also exchanged views on several regional and international issues of mutual concern
Business
DMCC digitises gold trading through tokenisation of Comtech gold bullion
DMCC Tradeflow is an online platform for registering the ownership of commodities stored in UAE facilities.
- DMCC Tradeflow is an online platform for registering the ownership of commodities stored in UAE facilities
- The partnership with Comtech Gold adds to Tradeflow’s list of Shariah compliant products, given that the tokens are backed by physical assets