IsDBI, BIBF join hands to enhance global Islamic finance expertise
MANAMA, BAHRAIN - The Bahrain Institute of Banking and Finance (BIBF) and the Islamic Development Bank Institute (IsDBI) have decided...
Business
World must understand AI, curb its risk, says UK Deputy PM
NEW YORK, US - The United Kingdom will be holding a summit on artificial intelligence (AI) so that nations can...
Science
Business
Airbus predicts 3,020 ME orders
Airbus says the Middle East will need more than 3,000 aircraft by 2040.
- It made the prediction in its 2021 Airbus Global Market Forecast or GMF
- According to the forecast, the Middle-East region will need 3,020 new passenger and freight aircraft deliveries by 2040
Geostrategy
Updated: US indicts Iranians for ‘meddling’ during 2020 elections
The US Justice Department has indicted two Iranians for allegedly taking part in an online "disinformation and threat" campaign during...
- The US Treasury imposes sanctions on the two men and three others who ran the cybersecurity company they worked for
- Kazemi and Kashian allegedly obtained confidential voter information and sent menacing emails
Business
Orders placed for 408 aircraft at Dubai Air Show, biggest by Indigo Partners
A total of 408 aircraft (269 firm orders and 139 commitments) were ordered at the Dubai Airshow, the first major...
- The orders covered the full range of commercial aircraft, including a first commitment for the A350F.
- Air Lease Corporation signed a commitment for 111 aircraft, covering the full range of Airbus families.
Business
AIQ and Baker Hughes to develop solutions for oil industry
AIQ Â and Baker Hughes have entered into an agreement to develop advanced analytics solutions for the global oil and gas...
- The initial project work will focus on developing AI solutions, analyzing drilling data and identifying opportunities for improved drilling trajectories
- The project supports ADNOC’s plans to efficiently ramp up drilling activities as it boosts its crude production capacity to 5 million barrels per day by 2030
Business
Etisalat to acquire elGrocer DMCC
The acquisition will support the telecom giant's digital ambitions.
- This partnership will empower consumers, enhance engagement, and drive diversification of our business, said Etisalat.
- UAE is rated as one of the most advanced countries for online shopping and eCommerce market in the MENA region.
Geostrategy
Qatar and Egypt sign pacts to supply Gaza fuel and building materials: Minister
Qatar and Egypt have signed agreements to supply fuel and basic building materials for Gaza Strip, Qatar's Minister of State...
- These cooperative efforts would contribute to improving living conditions in the occupied territory, said Qatari minister Sultan bin Saad Al Muraikhi.
- Qatar has provided more than $1.5 billion for health, education, housing, industry and other sectors in Gaza.
Geostrategy
Saudi statistical authority launches a unified channel for data sharing
Saudi Arabia's General Authority for Statistics on Thursday launched Statistical Database, a unified channel where all data produced by the...
- The platform uses advanced search techniques with advanced features such as (API) technology to provide an interactive experience.
- It also allows different groups of users to access the data and statistics provided by GASTAT and view its descriptions as well.
Economy
Joblessness in Egypt grows 7.5% to 2.2m in 3Q
The number of people out of work in Egypt grew 7.5 percent to 2.2 million in the third quarter of...
- According to the Central Agency for Public Mobilization and Statistics the size of the labor force increased 0.9 percent to 29.4 million from 29.1 million individuals
- The bulletin attributed the rise of unemployment and labor force to the influx of new graduates during the months of August and September into the labor market
Interview
‘GCC may avoid NMCs, Abraajs with robust norms’
The region’s financial regulators must be extra vigilant to avoid catastrophic debt crises, Khalid Abdulla-Janahi, chairman of Vision 3, UAE,...
- Strong corporate governance framework is an integral part of ensuring clean flow of money and the GCC region is yet to make some improvements, says Khalid Abdulla-Janahi
- The companies in the region should have independent board members and directors with fixed term role to ensure high level of corporate governance, the Vision 3 chief adds
Business
EDGE and Israeli firm to set up electro-optics center in UAE
EDGE and Israel Aerospace Industries (IAI) have agreed to establish a maintenance center for a selection of IAI's systems in...
- Omar Al Zaabi, Senior Vice President Head of Program Acquisition at EDGE and Boaz Levy, President and CEO of IAI, signed the agreement during a ceremony at the 2021 Dubai Airshow
- In addition to maintenance, the centre will advance local marketing of these systems
IsDBI, BIBF join hands to enhance global Islamic finance expertise
MANAMA, BAHRAIN - The Bahrain Institute of Banking and Finance (BIBF) and the Islamic Development Bank Institute (IsDBI) have decided...
Business
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GMC, Fix Network sign agreement
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SRC, Riyad Bank sign $133m deal
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DMCC, Fresh Water Norway partner to expand water supply chain
The collaboration could see a staggering one billion litres of natural drinking water flow through Dubai every year, over a...
Economy
Saudi Arabia’s non-oil economy is growing: S&P
Although the PMI in August was 57.7, the kingdom has maintained steady growth for the 25th consecutive month.
Economy
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Business
Riyadh Chamber hosts Saudi-Russian business meeting
The Riyadh Chamber hosted a meeting in which 23 Russian companies and representatives of the Saudi Arabian business sector participated.
- The meeting stressed the importance of commercial relations between Saudi Arabia and Russia.
- Businesses can benefit from investment opportunities and partnerships in the two countries.
Business
Mawani, Globe Group to set up logistics zone at Jeddah port
Riyadh, Saudi Arabia--Saudi Arabia's General Authority of Ports (Mawani) has signed a contract with Globe Group, a marine services company,...
- The integrated logistics zone and a re-export zone in Jeddah Islamic Port will be constructed on an area of ​​135,000 square meters.
- Mawani said the logistics zone will enhance the port’s competitive advantage and support national companies specialized in the logistics sector.
Business
Multiply Group buys 80% of IEH
Firm aims to expand its utilities, energy investments.
- Multiply Group had recently invested US$2.7 billion in a 7.3 percent stake in the Abu Dhabi National Energy Company.
- Other investments include 100 percent ownership of PAL Cooling Holding, one of the top players in the UAE’s district cooling industry.