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...
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...
Business
Geostrategy
Gulf treads humanitarian path on Ukraine crisis
Most Gulf Cooperation Council countries took no maximalist position on the conflict and stressed on a diplomatic approach for its...
- Saudi Arabia recently extended tourist and business visas of Ukrainian citizens without fees or fines for humanitarian considerations.
- Russia has been slapped with unprecedently harsh economic sanctions after the invasion of Ukraine.
Business
Mubadala of UAE to invest $395m in UK’s CityFibre
Mubadala of the UAE will invest $395 million into CityFibre, Britain’s biggest independent provider of full-fiber broadband infrastructure, according to...
- The investment aims to speed up the rollout of CityFibre’s full-fiber lines across the UK
- An official announcement from Mubadala or CityFibre could come as early as Monday
Economy
Two Ajman organizations pledge to work for women empowerment
The Ajman Business Women's Council and Umm Al-Moumineen Women's Association in Ajman will now work together to empower women. The...
- Ajman Business Women's Council and Umm Al-Moumineen Women's Association signed an MoU to work for women empowerment.
- The focus of both the organizations will be on increasing women's contribution to the process of sustainable economic development.
Business
Alkhorayef records dip in profit
The company's profit declined to $27.4 million in 2021.
- Despite an increase in revenues by 9.2 percent to SR569 million during the same period, profits declined due to cost of revenue and “increase in projects on-hand"
- Although profits dropped, the firm's board of directors approved SR1.5 per share as a dividend for the second half of 2021
Business
Mawani signs MoUs with Huawei, Ericsson to push Smart Ports program
The Saudi Ports Authority (Mawani) on Sunday launched the Smart Ports initiative in a bid to enable Saudi ports apply...
- The program is aimed at enabling Saudi ports to utilize 5G, AI and other technologies besides boosting their competitiveness..
- Ports account for more than 90 percent of the Saudi export movement, according to President of Saudi Ports Authority, Omar bin Talal Hariri.
Arts & Culture
Gulf region’s biggest wellness festival begins in Saudi Arabia
The AlUla Festival for Recreation and Relaxation, which is considered the largest festival of relaxation and wellness in the Gulf...
- The 10-day event began with the opening of “Five Senses Sanctuary” designed among the rocks of the ancient mountains of the Kingdom of Dadan.
- The launch included the presence of the spokeswoman for women's rights, Manal Rostom, who shared her experiences with the audience.
Business
Al Rajhi Bank to provide digital guarantee service in Saudi Arabia
Al Rajhi Bank of Saudi Arabia will start providing a digital guarantee service through the electronic financial services platform called...
- The new service intends to ensure smooth financial operations for beneficiaries, according to a bank statement
- Al Rajhi Bank customers in the corporate sector will be able to issue digital guarantees and easily link them to the beneficiary electronically via the platform
Economy
Kuwait to hire 1,000 non-Kuwaiti teachers for academic year 2022-23
Kuwait’s Ministry of Education has said it will hire 1,000 non-Kuwaiti male and female teachers to fill the shortage in...
- An applicant must be a University graduate qualified to work in general education schools in 11 different specializations.
- The majors required of males are English, French, mathematics, science, chemistry, physics, biology, geology and philosophy.
Business
Prodded by high oil prices, Saudi stocks gain in initial trade
Spurred by yet another round of increase in oil prices, shares on Saudi stock exchanges opened higher on Sunday with...
- In energy markets, oil prices closed the week higher with Brent crude gaining $1.29 to $107.93 a barrel, while WTI crude up $1.72 to $104.70 a barrel
- Anaam International Holding Group rose 6 percent to lead the gainers, while Bupa Arabia for Cooperative Insurance Co. fell 2.2 percent leading the fallers
Geostrategy
Saudi Arabia, UK sign MoU for peaceful use of outer space
SSC’s Board of Directors Chairman Abdullah bin Amer Al-Swaha signed the MoU with the UK’s Minister of State for Business,...
- SSC’s Board of Directors Chairman Abdullah bin Amer Al-Swaha signed the MoU on behalf of Saudi Arabia
- The UK’s Minister of State for Business, Energy, and Industrial Strategy Kwasi Kwarteng signed the deal for his country
Most Read
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
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...
Business
Company News
Latest News
Al Awali to raise US$133m
Business
ECI reviews programs, initiatives to align them with ‘Projects of the 50’
Dubai, UAE— Etihad Credit Insurance (ECI) has reviewed its programs and initiatives in a meeting chaired by Abdulla bin Touq...
Business
Al Seer Marine orders 4 new tankers
South Korea's K Shipbuilding will deliver the tankers in 2024.
Business
Most Read
Geostrategy
Saudi Crown Prince and PM arrives in Indonesia for G20 summit
Bali, Indonesia— Crown Prince and Prime Minister of Saudi Arabia, Mohammed bin Salman, has arrived in Indonesia to take part...
- The crown prince met with French President Emmanuel Macron, Turkish President Recep Tayyip Erdogan and other leaders on the sidelines of the G20 summit
- The 17th edition of the G20 Summit will extensively focus on key issues of global concern under the theme of ‘Recover Together, Recover Stronger’
Arts & Culture
European Film Festival commences at Haya Cultural Center in Amman
Amman, Jordan— Intended to open up a space for intercultural cooperation, the 34th edition of the European Film Festival (EUFF)...
- Hadjitheodosiou said cultural diversity is an integral part of the values of the European Union
- She lauded Jordan's role in promoting cultural appreciation and understanding, protecting diversity and cultural heritage
Geostrategy
It’s time to create and support Climate Solidarity Pact
Proposing the creation of a Climate Solidarity Pact, bringing together developed and emerging economies to combine resources and capacities to...
- G20 can play an important role in resolving global crises, says UN Secretary-General António Guterres ahead of the event in Bali, Indonesia
- Guterres urges the bloc to support his initiatives to address climate change, sustainable development, the worldwide food and energy crises, and digital transformation