Tech leaders unite to propel future-critical sectors at GITEX GLOBAL 2025
Dubai, UAE: With capabilities of AI advancing every year, its potential to address challenges once thought unsolvable is rapidly expanding,...
Business
Geostrategy
Algerian, South African ministers discuss ways to boost economic cooperation
JOHANNESBURG, SOUTH AFRICA - Algerian Minister of Finance Laaziz Faid discussed with South African Finance Minister Enoch Godongwan, ways to...
- The two ministers discussed the available opportunities to enhance trade exchange between Algeria and South Africa.
- The aim of trade exchange and joint investment is achieving sustainable development in the region.
Economy
Currencies in Middle East resilient from Covid period till date
RIYADH, SAUDI ARABIA - As the world grapples with the economic aftermath of the COVID-19 pandemic, Middle Eastern countries, particularly...
- Saudi Arabian Riyal and UAE Dirham maintain stability against US Dollar from 2020 to 2023.
- Both the countries witness GDP growth of 45 percent and 43 percent respectively during the period.
Business
RAKEZ witnesses 35 percent growth in holding company registrations
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) reported a remarkable surge in the registration of holding...
- Holding companies can benefit from the UAE's favorable tax environment, a key factor boosting global investors' appeal.
- This structure offers enhanced protection against potential risks and legal claims, an essential feature in today's complex business landscape.
Business
Sukoon Insurance sets up OIWSS
Aim is administration of Employee Money Purchase schemes.
- OIWSS has established a partnership with Intertrust Group.
- OIWSS will be the trustee and the operator of this scheme
Business
Soniqs wins PUBG Global Series 2 Crown
It claimed $600,000 prize at Gamers8 - The Land of Heroes.
- Saudi team Twisted Minds came in second and earned US$260,000.
- Question Mark, the Russian team, finished third and got US$162,000.
Business
Dubai International Chamber event explores trade ties China’s Wuxi
Dubai, UAE - Dubai International Chamber hosted a B2B event during the Wuxi – Dubai Economic & Trade Exchange Conference...
- Dubai International Chamber organized a trade event in partnership with Wuxi Municipal Government and Wuxi National High-Tech Industrial Development Zone.
- The event included 13 Chinese multinational companies specializing in areas including advanced technology, biomedical and healthcare equipment.
Business
DEWA files patent for energy liquid
The liquid enhances efficiency of energy storage systems.
- The novel liquid is an effective and safe solution for energy storage systems operations, notably lithium-ion batteries and fuel cells.
- DEWA chief Al Tayer said the patent supports its commitment to promoting energy security and sustainability.
Business
Abu Dhabi Chamber inks MoU with Ethiopian Investment Commission
ABU DHABI, UAE - The Abu Dhabi Chamber of Commerce and Industry has signed a Memorandum of Understanding with the...
- The MoU also aims to establish a framework for cooperation that advances trade, investment and economic relationships between the UAE and Ethiopia.
- The signing of the MoU was held on the sideline of the UAE delegation's visit to the Federal Democratic Republic of Ethiopia.
Economy
Economists convened by COP28 lay out steps to reform global climate finance
ABU DHABI, UAE - A two-day meeting of world leading economists and finance leaders convened by the COP28 Presidency has...
- Particular areas of focus for the new framework will include addressing debt distress in vulnerable countries.
- Group said that private finance flows need to grow much faster to meet the $2.4 trillion investment estimated nnually.
Geostrategy
Caspian Sea water levels hit 30-year low
Estimates reveal a 9-meter decline in Caspian Sea water levels, shrinking the area by 24 percent, as the northern half...
- Estimates reveal a 9-meter decline in Caspian Sea water levels, shrinking the area by 24%, as the northern half witnesses a more significant drop than the southern part.
- The Caspian Sea supports a vital fishery, provides water for agriculture, and is home to several threatened species, including 90% of the world's last-remaining sturgeon.
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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
Tech leaders unite to propel future-critical sectors at GITEX GLOBAL 2025
Dubai, UAE: With capabilities of AI advancing every year, its potential to address challenges once thought unsolvable is rapidly expanding,...
Business
Company News
Sovcomflot 2023 net profit $900m
Business
Latest News
OPEC lowers 2024 oil demand forecast, citing robust non-OECD activity
According to the organization's October report, the total world oil demand is anticipated to reach 105.6 mb/d in 4Q-24, to...
Business
Sub-Saharan Africa: Nigeria takes #2 spot in global crypto adoption
Sub-Saharan Africa accounts for the global cryptocurrency economy’s smallest share, representing 2.7% of transaction volume worldwide between July 2023 and...
Economy
North Korea shows first photos of banned uranium enrichment site
North Korea for the first time showed images of the centrifuges that produce fuel for its nuclear bombs on Friday,...
Geostrategy
Most Read
Economy
Central & Southern Asia and Oceania region leads the world in cryptocurrency adoption
The fifth annual Chainalysis Global Crypto Adoption Index looks at both on- and off-chain data to determine which countries are...
- This year, crypto activity increased across countries of all income brackets
- Central & Southern Asia and Oceania accounted for over $750 billion in crypto asset inflows
Business
UAE banking sector assets exceed $1.16 trillion by the end of June
Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) revealed that total banking assets, including bank acceptance certificates,...
- The assents registered a month-on-month increase of 0.5 percent, compared to AED 4.28 trillion in May 2024.
- The total foreign assets of the Central Bank of the UAE exceeded the AED 770 billion barrier at the end of June, for the first time in its history.
Economy
How Pakistan is becoming a top tech hub in the GCC
Pakistan's IT sector is thriving, with growing exports and recognition as a tech hub, driven by government support, skilled talent,...
- While Pakistan has been declared the "Tech Destination of the Year" at GITEX GLOBAL 2024, one of the key players driving this growth is the Pakistan Software Houses Association
- Across the GCC, Pakistani companies provide cybersecurity and AI driven solutions across various sectors, including banking and fintech industries