Bybit partners with Sharjah varsity to boost crypto adoption in UAE
Sharjah, UAE - Bybit, the world’s third most visited crypto exchange, will contribute AED 1 million ($272,257) via a partnership...
Business
MoIAT inks MoU with MEXT to implement industrial transformation Index
ABU DHABI, UAE - The Ministry of Industry and Advanced Technology (MoIAT) and MEXT signed a memorandum of understanding (MoU)...
Business
Economy
UAE announces 50 national development projects
The projects are expected to lay the foundations for further growth of the UAE.
- The economic and developmental projects will foster a competitive business environment
- This is expected to attract investors, innovators, entrepreneurs, and talents from across the world
Geostrategy
IsDB launches $100m fund in Uzbekistan
The $100-million fund, mainly supported by Saudi investors, will target 34 micro, small, and medium enterprises.
- The economic development fund is expected to generate 100,000 jobs in the country which is struggling with poverty
- The new fund is part of the IsDB’s series of development activities in Uzbekistan, which so far stand at $2.4 billion in value
Market Report
DFM’s trade count up 161% after minimum trading commission waiver
Total number of trade count on Wednesday’s trading session reached to 6739 transactions, the highest level of daily trade count...
- The DFM General Index gains 13.6 points (0.50 percent), taking its 2021 gains to 17 percent
- The DFM decision to waive minimum trading commission is aimed at promoting retail investors’ participation in the market
Research
UAE financial organisations under pressure to enhance security: Study
Banks and FSIs come under pressure from government, shareholders, employees and customers as security risks increase during the pandemic
- Banks and FSIs come under pressure from government, shareholders, employees and customers as security risks increase during the pandemic
- Citrix worked with OnePoll to survey 600 IT managers in the financial services and banking sectors in South Africa, Saudi Arabia and UAE
Business
Now website owners may apply for ‘.abudhabi’ domain names
Abu Dhabi’s Department of Government Support has announced ‘.abudhabi’ as the official internet TLD name for the emirate.
- The domain name is accessible to all citizens, residents, and employers working inside and outside the emirate
- More than 550 uniform resource locators or URLs have been registered to the ‘.abudhabi’ domain name to date
Economy
Iran may see power-supply problems in winter
The Energy Ministry could face serious problems in meeting electricity demand in winter if power plants did not get fuel
- The Energy Ministry cannot reduce supply to the domestic sector in winter
- Therefore, it must supply liquid fuel to power plants in advance to keep up with demand
Business
Four major UAE banks post $4bn net profit in first half
The combined net profit of four major banks in the United Arab Emirates has vaulted to $4 billion in the...
- Moody's said the four banks combined net profit increased from last year, but returns on assets remains below pre-pandemic levels
- The four big banks account for 77 percent of UAE banking assets, Moody’s said
Arts & Culture
India slider at ‘gold’ price in Dubai
The dish sees the vada filled with truffle butter and cheese, stuffed in a bun, and served with sweet-potato fries...
- However, according to the Instagram post the restaurant shared, the dish costs AED99 (around $27 or almost INR2,000)
- Vada pav typically costs anywhere between INR20 and INR40 on the streets of Mumbai, where it originated
Business
Investcorp, Riverside sell Arrowhead Engineered Products
Investcorp, a Bahrain-based alternative investment management firm, and global private investor Riverside Co. have sold Arrowhead Engineered Products (AEP) to...
- Private equity firm Genstar acquired the replacement parts supplier
- The financial terms of the transaction were not disclosed
Business
Windows 11 rollout from October 5
Microsoft said the first rollout would upgrade Windows 10 PCs.
- The free upgrade for Windows 10 PCs will be phased and measured with a focus on quality
- Computers that come preloaded with Windows 11 will also become available for purchase from October 5
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
Bybit partners with Sharjah varsity to boost crypto adoption in UAE
Sharjah, UAE - Bybit, the world’s third most visited crypto exchange, will contribute AED 1 million ($272,257) via a partnership...
Business
Company News
Select Group buys hotel in UK
Business
AD Ports, Hayat Biotech ink deal
Business
Latest News
EGA, K Line green pact
Business
Bahrain launches multi-entry e-visa for training purposes
Bahrain has launched a multi-entry e-visa for training purposes, allowing a holder to stay in the kingdom for six months.
Economy
Saudi import of plastic products climbs 18% to 456,000 tons
The import of plastic products into Saudi Arabia has shot up 18 percent to 456,000 tons in the second quarter...
Business
Most Read
Economy
Broad money supply in Qatar reaches US$185.4bn in July
Social Security statements reached QR 78 million in July 2022, for 14,495 beneficiaries, recording a monthly decrease of 0.2% for...
- General index of the Qatar Stock Exchange increased in July 2022 at a monthly rate of 9.7% compared to June 2022.
- Cash equivalents; including Commercial Bank Deposits, attained for approx. QR 965 billion ($265bn) during July 2022.
Economy
Clean energy is key for Indonesian economy, says IEA
Indonesia has a viable path to reaching its target of net zero emissions by 2060, bringing major benefits to its...
- Key policy reforms and international support will be crucial to the success of the clean energy transition in the world’s fourth most populous country.
- The clean energy transition offers huge opportunities for the next chapter of Indonesia’s development as it seeks to become an advanced economy by 2045.
Geostrategy
UAE keen to work with global partners to address energy issues
A senior UAE official at the Ministry of Energy and Infrastructure said that his country is committed to collaborating with...
- The UAE is at the forefront in efforts of energy diversification and adoption of sustainability-driven technology to achieve climate neutrality.
- During the G20 Energy Transitions Ministerial Meeting, G20 Energy Ministers and major international energy organizations discussed key issues facing the sector.