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
EDB commits US$350m for renewable energy projects in developing countries
ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator...
Business
Economy
Discussion held on a study as part of Riyadh Economic Forum’s next edition
A panel discussion was organized by the Riyadh Economic Forum to review the progress of an important study, “New Investments,...
- Several government officials, academics, businessmen and women and others participated in the discussion.
- The study explores future scenarios for the industrial fields related to the knowledge economy.
Business
Inaugural session of Qatar-Nigeria Economic Forum begins
The Qatar-Nigeria Economic Forum kicked off in Lagos, the economic capital of the Federal Republic of Nigeria.
- The Forum aims to enhance economic cooperation and review business opportunities between the two countries
- A special focus will be placed on cooperation in the fields of manufacturing, construction, oil and gas and technology
Business
East Pipes of KSA gets $133m financing
East Pipes of Saudi Arabia has secured a Shariah-compliant working capital financing of $133 million from Bank Albilad.
- The capital will be used to “finance the working capital of one the company’s projects”, the Dammam-based company said in a bourse filing
- East Pipes, which joined the Saudi stock exchange earlier this year, was established in 2010 and specializes in manufacturing steel pipes
Business
World’s first robot citizen Sophia to attend Dubai audit conference
The humanoid robot Sophia, the world's first robot citizen, will arrive in Dubai on Tuesday, March 8, to participate in...
- Sophia will attend largest smart conference for internal auditors, the 20th Annual Regional Audit Conference from March 7- 9.
- Sophia became the world's first robot citizen after Saudi Arabia granted her citizenship in October 2017.
Business
Tadawul posts 17% jump in net profit to $157m in 2021
Tadawul Group has posted a seventeen percent jump in net profit to $157 million in 2021, according to a bourse...
- There was an 8 percent rise in revenue to SR1.17 billion during the year due to “solid growth in trading services, post-trade services
- With strong earnings, the company’s board proposed an annual dividend payout of SR3 per share
Economy
Tunisia starts operation of 10MW solar plant in Tozeur governorate
A 10 megawatt solar photovoltaic plant named Tozeur 2 has started operations in Tozeur, a governorate in southwest Tunisia. The...
- The plant, built at a cost of 25 million dinars ($8.4m) will consolidate the production of the first plant Tozeur 1, to reach a total capacity of 20 megawatts.
- The two plants will supply one third of the governorate's electricity needs, equivalent to the consumption of about 18,000 families.
Business
Shurooq picks acting COO
It has appointed Ahmed Obaid Al Qaseer to the post.
- Al Qaseer is expected to continue the concerted efforts to achieve Shurooq’s vision of developing world-class projects
- The new acting COO is also expected to bolster efforts to drive national and foreign investments into the emirate
Business
Iran seeks barter trade with Pakistan to strengthen ties
The option of barter trade was available to cement the mutual relationship between Iran and Pakistan, an Iranian envoy has...
- The Consul General of the Iran has stressed the need for his country to sign a barter agreement with Pakistan
- Hamid Reza Ghomi said he was eying such a deal between the Pakistan Chambers of Commerce and Iranian provinces
Business
Umm Al Qura inks $800m deal
The project will see an investment of SAR3 billion ($800 million).
- The development of Masar destination has reportedly been planned according to a modern concept
- It is based on complementary and interrelated foundations, including environmental and urban aspects
Economy
UAE, IRENA to give clean cooking energy to communities
The initiative, called Beyond Food, was launched in collaboration with the Nama Women Advancement Establishment.
- The UAE and IRENA will have tied up to promote the deployment of clean cooking solutions across the world
- The partnership aims to expand and bring in more key actors working on this issue in the coming days
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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
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
Company News
ADNEC, MICCO sign agreement
Business
Latest News
Gulf Arab’s first casino being opened at Ras Al Khaimah resort
The casino would mark a watershed moment for the Gulf region.
Business
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...
Economy
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Economy
Companies have 50 days to achieve Emiratisation targets: Ministry
Dubai, UAE--- UAE's Ministry of Human Resources and Emiratisation (MoHRE) has said it was keen to support and empower private...
- Ministry of Human Resources and Emiratisation has said it was keen to support and empower private sector companies in the country and help them achieve their targets.
- Companies with 50 or more employees are targeted to raise their Emiratisation rate by 2 percent of their overall skilled jobs.
Business
FTX goes bankrupt in US
The Cryptocurrency platform chief executive quits.
- FTX Group announced in a statement that it filed for Chapter 11 bankruptcy proceedings.
- Chapter 11 is a US mechanism allowing a company to restructure its debts under court supervision while continuing to operate.
Business
MoIAT, Burjeel Holdings sign MoU on healthcare facilities
ABU DHABI, UAE -UAE's Ministry of Industry and Advanced Technology (MoIAT) has signed a Memorandum of Understanding (MoU) with Burjeel...
- The MoU is in line with MoIAT's keenness to provide support and specialized healthcare for its employees and their families.
- Burjeel Holdings will offer the ministry employees and their families special discounts on medical services that are not covered by insurance.