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
Business
Obeikan Glass net profit up 900 percent
The Saudi manufacturer’s revenue rose 77 percent year-on-year.
- The firm, which recently joined the Saudi stock exchange, attributed the improved performance to an increase in sales volumes.
- Obeikan Glass Company says it is the largest glass manufacturing facility of its kind in the Middle East region.
Economy
Jordan’s real estate trading at JD73 5mn in 2022
The Department of Land and Survey (DLS) revealed that the revenue in the first two months of 2022 stood at...
- The Department of Land and Survey (DLS) revealed that the revenue in the first two months of 2022 stood at JD32.4 million up 15% from the figure reported in 2021
- Overall real estate sales in the Kingdom in the period decreased by 10 percent, as apartment sales declined by 5 percent
Geostrategy
Saudi Arabia, Algeria sign MoU to combat crime, terrorism
The MoU was signed in Riyadh between Saudi Attorney General Sheikh Saud bin Abdullah Al-Mujib with Algerian Algerian Minister of...
- The MoU was signed in Riyadh between Saudi Attorney General Sheikh Saud bin Abdullah Al-Mujib with Algerian Algerian Minister of Justice Abdul Rashid Tabbi
- During the meeting, a visual presentation highlighting the formation and competencies of Public Prosecution was also presented
Economy
Jordan commerce chamber says Ukraine crisis will affect market
Nael Kabariti, who is the JCC president, said the Ukraine crisis has led the prices of staples to shoot up.
- Nael Kabariti, who is the JCC president, said the Ukraine crisis has led the prices of staples to shoot up
- Kabariti added that the war has heavily impacted the world basket and disrupted the shipping and export chains
Business
Saudi Arabia teams up with China to produce UAVs in kingdom
Saudi Arabia has teamed up with China to manufacture unmanned aerial vehicle payload systems in the kingdom.
- The agreement was signed between Saudi Advanced Communications and Electronics Systems Co., ACES and China Electronics Technology Group
- This came after the Riyadh-based telecommunication firm established a new company for unmanned aircraft in the Kingdom, under the name of Aerial Solutions
Business
Yanbu Cement reports dip in profit
Yanbu Cement Co., one of Saudi Arabia's largest cement producers, has posted a forty three percent dip in net profit...
- The Jeddah-based company, apart from seeing a drop in the net profit, saw its annual revenue fall slightly from SR940 million to SR934 million year-on-year
- The company attributed the dip in earnings to lower selling prices that weighed on the company's revenue.
Business
Saudi Arabia hikes oil price as Russia-Ukraine war presses on
Saudi Arabia has hiked oil prices for all regions after the crude oil prices soared to more than $115 a...
- Saudi Arabia's state oil producer Aramco raised the official selling price
- Aramco hiked all prices for the American customers by $1
Geostrategy
Italy, Qatar discuss cooperation in energy sector amid Ukraine crisis
Italy and Qatar discussed greater cooperation in the energy field in light of the Russia-Ukraine conflict, in a meeting at...
- Italian Foreign Minister Luigi Di Maio and his Qatari counterpart Mohammad bin Abdelrahman Al-Thani met in Doha.
- Qatar is the world’s third-largest supplier of natural gas after Russia and Algeria.
Economy
Ukraine crisis threatens Arab wheat supplies
A look at the Arab countries that are dependent on wheat imports from Ukraine and Russia.
- Russia is the largest producer of crude oil, second largest producer of gas and the largest exporter of wheat.
- Many Arab countries depend on Russia for their wheat imports and fear disruption in supplies.
Geostrategy
Saudi Arabia and Egypt to cooperate in telecommunications
Saudi Arabia and Egypt have signed an agreement to strengthen cooperation between the two countries in the fields of telecommunications,...
- The memorandum serves to work on cooperation and exchange of experiences in the field of smart cities also
- It also includes agreements to coordinate joint events, and to design training programs and workshops
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
ADNEC, MICCO sign agreement
Business
GE, IRENA sign pact at COP27 to support energy security
SHARM EL SHEIKH, EGYPT - GE (NYSE:GE) signed a framework agreement with the International Renewable Energy Agency (IRENA) to support...
Business
TotalEnergies CEO heckled by climate activists at COP27
Sharm el Sheikh, Egypt—French giant TotalEnergies' chief executive was confronted by climate activists Friday at the COP27 summit in Egypt, where...
Economy
Bahrainis vote to elect members to Council of Representatives
People are choosing their candidates for the 40-member Council of Representatives, one of the two chambers of the bicameral parliament.
Geostrategy
Most Read
Business
Gulf Arab’s first casino being opened at Ras Al Khaimah resort
The casino would mark a watershed moment for the Gulf region.
- The casino would mark a watershed moment for the Gulf region
- The region has traditionally imposed stricter Islamic rules than other parts of the Middle East
Economy
UAE launches National Net Zero by 2050 Pathway
The pathway, unveiled at COP27, sets the timeframe and identifies the mechanisms of implementing the UAE Net Zero by 2050...
- The pathway, unveiled at COP27, sets the timeframe and identifies the mechanisms of implementing the UAE Net Zero by 2050 Strategic Initiative, introduced in October 2021
- The UAE will adopt several measures to mitigate climate change such as increasing the share of clean energy in its energy mix and scaling up the use of clean electricity
Geostrategy
Tel Aviv-Doha World Cup flights draws criticism from Qatari activists
While Qatar's Gulf neighbours Bahrain and the United Arab Emirates established relations with Israel through agreements mediated by the United...
- The protest led by Qatar Youth Against Normalization was small but noticeable in a state where citizens very rarely speak out against authorities
- Qatar has stated that normalisation with Israel is contingent to the establishment of a Palestinian state