AD Ports, Kazakhstan Railways form venture to boost services
Abu Dhabi, UAE - AD Ports Group signed an agreement with Kazakhstan Temir Zholy JSC (Kazakhstan Railways to form a...
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...
Business
Business
UAE to boost cybersecurity ecosystem in cooperation with Huawei
The parties will jointly establish a Cybersecurity Center of Excellence to deliver talent training that addresses the cybersecurity capacity-building needs.
- Both parties have agreed to work together in building visibility and promoting thought leadership in the area of cybersecurity.
- They will also cooperate in the field of cybersecurity research and development through an independent think tank that both parties will establish.
Business
DET of Dubai and du launch Digital Business Hub
The Department of Economy and Tourism (DET) in Dubai and du, from Emirates Integrated Telecommunications Company (EITC), have opened the...
- This will reportedly help to provide value-added services and facilitate doing business
- It would contribute to enhancing the competitiveness and sustainability of Dubai's business sectors
Business
ADQ and Turkey Wealth Fund set up a venture capital fund
ADQ of Abu Dhabi has partnered with Turkey Wealth Fund to launch Turkey Technology Fund that will invest in venture...
- ADQ and TWF established the fund to undertake investments in high-growth, Turkish start-ups with innovative business models
- Turkey Technology Fund – ADQ TWF will invest in companies developing emerging technologies or improving existing technologies in significant sectors such as energy and utilities
Economy
Dubai ruler issues law on Local Military Pensions and Social Security Fund
Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum on Wednesday issued a law on Local Military Pensions and Social Security...
- The fund seeks to improve the quality of services offered to its beneficiaries and ensure that all the rights and insurance needs of contributors, pensioners are met.
- All liabilities and assets of the Local Military Pensions and Social Security Division at the DoF will be transferred to the Fund, once the Law comes into effect.
Business
Hub71 startups secure $408m in investments since inception in 2019
Hub71, Abu Dhabi’s global tech ecosystem, said on Wednesday that its startup community secured AED 30 million ($8.1m) in 2021...
- Hub71 boasts startups from 25 nations across 18 diverse sectors, ranging from FinTech, Robotics, AI & Big Data to HealthTech, AgTech and Cybersecurity.
- About 1,000 jobs were created, while the aggregate valuation of the startups soared to AED5.87 billion, the hub said in a report.
Business
Dubai posts real estate transactions worth $413 million on Tuesday
Dubai’s real estate market recorded 474 sales transactions worth AED1.52 billion ($413 million) and mortgage deals of AED441.56 million, in...
- Mortgage deals amounted to AED441.56 million and 11 gift transactions to AED27.4 million, according to Dubai Land Department.
- During the week ending 18 March, the emirate recorded $2.53 billion worth of real estate and properties transactions.
Business
Saudi land bridge linking up east with west to cost $26bn
A land bridge linking up the western part of Saudi Arabia with its eastern region will cost some $26 billion...
- According to the minister of transport and logistics, Saleh Al-Jasser, the money will go into building infrastructure and trains
- The contracts will be signed within a year, and the implementation of the project will take 5 to 7 years, Al-Jasser said
Business
Shuaa Capital of Dubai sets up $250m venture debt fund
Shuaa Capital, the Dubai-based fund manager, has set up a $250 million venture debt fund in order to shore up...
- According to the company, the Shariah fund, to be listed in Abu Dhabi’s market, will focus on technology ventures “seeking alternative sources of capital”
- Early-stage businesses are dominating investments with VC funding to the Middle East and North Africa startups soaring to $2.6 billion in 2021
Business
UAE accounts for 77% of GCC investments in Latin America over 2016-2021
Saudi Arabia accounted for 22 percent of GCC investments to Latin America during 2016-2021, followed by Qatar with 1 percent.
- Saudi Arabia accounted for 22 percent of GCC investments to Latin America during 2016-2021, followed by Qatar with 1 percent
- The report, titled Cultivating Ties: Deepening trade and investment between Latin America and the GCC, was issued ahead of the Global Business Forum Latin America 2022
Business
Pandemic aided digital adoption by UAE businesses: PayPal survey
Survey analyses the impact of COVID-19 on small businesses, the key verticals of growth and the growing acceptance of digital...
- Survey analyses the impact of COVID-19 on small businesses, the key verticals of growth and the growing acceptance of digital payments
- With adoption of digitalization, 41 percent of the respondents have seen increased purchases through social media channels
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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
AD Ports, Kazakhstan Railways form venture to boost services
Abu Dhabi, UAE - AD Ports Group signed an agreement with Kazakhstan Temir Zholy JSC (Kazakhstan Railways to form a...
Business
Company News
Saudi Top to list on Nomu
Business
Zain KSA shares go up
Business
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Bayanat AI to list shares on ADX
Business
Reliable Engineering opens plant
Business
Kuwait sets 2060 as date to reach carbon neutrality
Sharm el Sheikh, Egypt—Kuwait is planning to achieve carbon neutrality in the oil and gas sector by 2050 and across...
Science
UAE Cabinet approves penalties for flouting Nafis initiatives, programmes
Launched as part of 'Projects of the 50', the program aims to accelerate the UAE's development journey and boost the...
Economy
Abu Dhabi launches association to promote blockchain in region in line with TOP CEO Conference call in May
The Middle East, Africa and Asia Crypto and Blockchain Association aims to bring industry players together to discuss strategies and...
Business
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Geostrategy
UAE President meets Saudi Crown Prince on sidelines of G20 Summit
The two leaders discussed mutual ties, including the agenda of the summit.
- The two leaders discussed mutual ties, including the agenda of the summit
- Saudi Arabia and the UAE are close allies and share extensive political and cultural ties
Business
ADGM Courts launches blockchain technology in Abu Dhabi
Abu Dhabi, UAE— Abu Dhabi Global Market (ADGM) Courts has announced the first-ever introduction of blockchain technology for the global...
- The blockchain solution will result in substantial time and cost savings for parties in the enforcement of their commercial judgments
- Parties will no longer need to wait for a certified copy of the judgment to start the process in the enforcing jurisdiction
Geostrategy
Saudi Arabia, UAE key partners in Indonesia’s growth
The two Gulf countries play a major role in strengthening the economic and sustainable development in Indonesia, which is hosting...
- The two Gulf countries play a major role in strengthening the economic and sustainable development in Indonesia, which is hosting the 17th G20 Heads of State and Government Summit
- Since 1976, the Kingdom, through the Saudi Fund for Development has contributed to strengthening the pillars of sustainable development in its various fields and forms in Indonesia