Agthia Group launches Agthia Ventures
New firm is a $54 million corporate venture capital fund.
Business
Covid and Ukraine have badly hit UN sustainable goals progress
Geneva, Switzerland - United Nations Conference on Trade and Development (UNCTAD) said the COVID-19 pandemic, Ukraine crisis and the climate...
Economy
Expo 2020 DUBAI
Breathtaking start of Expo 2020 Dubai
Dubai opened its extravagant Expo 2020 on Thursday with a flashy ceremony boasting fireworks and lights displays as it attempts...
- The event kicks off a six-month world fair attended by more than 190 countries
- The Expo venue is alive with music, dance, drama and projections with its star-studded opening ceremony
Economy
Kuwait to push for more private sector jobs in order to reduce state wage bill
Kuwait will nudge job seekers in the country toward the private sector in order to reduce state wage bill. The...
- The move comes as the Middle Eastern country seeks to reduce its public sector wage bill, which accounts for approximately 60 percent of the government’s budget
- A study will also be conducted to identify high-priority jobs to attract national labor early next year
Business
Ajman Chamber reduces membership registration fee by 50 percent
DUBAI: A 50 percent reduction in the membership registration fees in the Ajman Chamber of Commerce and Industry for new...
- The offer is valid only if the registration request is submitted between Oct 1 and March 31.
- The decision comes into force from October 1.
Economy
Saudi Arabia expects 2.7 percent budget deficit this year, 1.6 percent in 2022
Saudi Arabia expects to post a deficit of 2.7% of gross domestic product this year and to reduce it further...
- The kingdom forecasts total spending of 955 billion riyals - around $255 billion - next year, down from an estimated total expenditure of around 1 trillion riyals this year
- The gross domestic product is expected to reduce further next year, to 1.6% of GDP
Arts & Culture
$1bn Guggenheim Abu Dhabi to open in 2025
Guggenheim Abu Dhabi being built at a cost of one billion dollars is set for the inauguration in 2025, according...
- A $1-billion contract value was awarded to renowned architect Frank Gehry for the museum’s design
- The UAE capital is also home to Louvre Abu Dhabi, which was opened to the public in November 2017
Expo 2020 DUBAI
Expo 2020 launches official visitor app and business-focused app
Expo 2020 Dubai has launched its official visitor app and a business-focused app.
- The official Expo 2020 app allows users to tailor their visit to the event, matching individual interests to create a personal schedule
- The Expo 2020 Business App matches users with similar interests and objectives among the business community
Arts & Culture
Spain fortress contains mysterious Islamic era keys
They are believed to have reached Segovia as spoils of war after the conquest of Muslim cities in Andalusia during...
- One of the keys goes back to the Al-Hambra Palace in Granada, another belongs to a palace from the Andalusian city of Wilma.
- The five keys made of metal and bronze were not meant for daily use.
Arts & Culture
Saudi Arabia initiative to support entertainment sector
Saudi Arabia has launched the Makers of Happiness initiative to support the entertainment sector in the country in various ways.
- The initiative was launched by the General Entertainment Authority’s Board of Directors’ Chairman Turki bin Abdulmohsen Al Al-Sheikh
- AlThe Happiness Makers initiative aims to qualify and train human cadres specialized in the entertainment sector
Science
Digital currency can speed up global payments: CBUAE
The CBUAE has in a study found that central bank digital currencies can substantially improve international trade payments.
- The findings come from a report that has been generated from the first Multiple CBDC Bridge (mBridge) Project
- This project is a step closer to making cross-border trade payments easier, safer, and in real time
Business
East Pipes Integrated plans IPO
The Saudi Arabia-based company gets approval to float 6.3 million shares.
- The offering will be limited to qualified investors, who should conduct their own due diligence on the information disclosed in the company’s prospectus
- 6.3 million shares to be floated as the measure has been approved by Saudi Arabia’s Capital Market Authority
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Agthia Group launches Agthia Ventures
New firm is a $54 million corporate venture capital fund.
Business
Company News
Latest News
FAB profit up 50 percent
Business
Sharjah to host International Jewelry Designers Forum
Expo Centre Sharjah has said that it will host the International Jewelry Designers Forum on October 7.
Economy
Saudi Consumer Price Index rises by 3% in August: GASTAT
General Authority for Statistics said the main drivers of CPI inflation were the higher prices of food & beverages and...
Economy
Most Read
Business
Saudi Arabia to enhance wheat storage capacity
Saudi Arabia is looking to enhance wheat storage capacity in the kingdom by building new silos. Once it is done...
- At present, Saudi Arabia’s wheat storage capacity amounts to 3.5 million tons, distributed across 14 branches in the kingdom
- A project to construct silos in NEOM city has also been awarded to enhance the kingdom’s storage capacity.
Business
Al-Ittefaq plans an IPO
The $2bn worth Saudi steel giant will list on Tadawul.
- The value of the company is estimated at over $2 billion
- A deal with the financial adviser to manage the company’s initial public offering is expected soon
Business
DMCC doubles Chinese companies over last five years
The free zone is home to 703 Chinese businesses, representing nearly 12 percent of the Chinese companies in the UAE.
- The free zone is home to 703 Chinese businesses, representing nearly 12 percent of the Chinese companies in the UAE
- DMCC has created an integrated infrastructure including the establishment of the Yingtian Chinese Business Centre that caters to the Chinese business community