Utilizing AI is only possible if skill gap is bridged, says expert
DUBAI, UAE - The Artificial Intelligence (AI) revolution is upon us, with AI becoming a pervasive force in our daily...Business Economy Global Tech & Media Uncategorized
Shanghai to build 200 smart factories to shore up its manufacturing status
Shanghai, China--Shanghai plans to build 200 new smart factories and 20 demonstration sites by end of 2025 after 70 intelligent...Business
Dana Gas doubles its earnings to $256m from its sites in Egypt and Iraq
Dana Gas, the UAE-based natural gas company, has seen its earnings double from its operations in Egypt and Iraqi Kurdistan...In the Kurdistan Region of Iraq (KRI), the company’s share of collections from sales of condensate, LPG and gas jumped 77 percent
The company's earnings have seen a 102 percent jump to $256 million as compared to the same period last year
Aramco’s market value jumps to $2 trillion for the first time in two years
The market value of Aramco has exceeded $2 trillion after its shares vaulted to their highest level since the start...The Saudi company helped fuel a rise in the Kingdom's stock market, with the Tadawul index exceeding 11,600 points for the first time in 14 years today
Aramco shares came at the forefront of the active shares in the market, with a 1.08 percent rise and reaching SR37.45 per share
ADGM-registered can now list shares on UAE markets
Entities registered with the Abu Dhabi Global Market or ADGM will now be able to offer and list shares on...An MoU was signed between the Registration Authority of the ADGM and the Securities and Commodities Authority or the SCA.
The agreement aims to reinforce regulatory and supervisory cooperation between the two parties
Kuwait private sector partner in boosting trade ties: UAE chambers
KUWAIT: A delegation from the Federation of UAE Chambers of Commerce and Industry and officials of the Kuwait Chamber of...Federation of UAE Chambers and Kuwait Chamber hold a meeting to discuss ways of promoting investment opportunities.
Kuwait Chamber chairman expects Kuwait-Abu Dhabi cooperation in healthcare, education and food security.
Saudi to punish expats who engage in jobs for personal benefit
The punishments could include monetary penalties, imprisonment, and then subsequent deportation.Any self-employed expatriate who engage in jobs for their own personal benefit could be fined SAR50,000 (around $13,300), jailed for six months
The self-employed expatriate would be deported after serving the jail term and the payment of fines
Pakistan invites auto-sector investment at Expo
The Federal Board of Investment of Pakistan has invited auto-sector investors to set up business within the country.The Pakistan government promises a safe and secure environment for foreign investors with legal protection under the Acts of Parliament
It also promises investment opportunities in all sectors of economy for foreign investors with 100 percent equity or joint ventures
Credit insurance firms of UAE and France sign reinsurance pact
DUBAI: Etihad Credit Insurance (ECI), a UAE Federal export credit company, and Bpifrance Assurance Export, a French export credit agency,...Etihad Credit Insurance and Bpifrance Assurance Export will push more Emirate and French projects globally.
The UAE is France’s second-largest trade partner in the region. Non-oil foreign trade between the countries was AED 19.7 billion in 2020.
Ducab unveils new brand identity
The UAE-based company will now focus on providing ‘Energy for change’.The UAE-based company will now focus on providing ‘Energy for change’
The company seeks to generate positive economic, social, and environmental impact
Bahrain VAT rate hike may boost sales of UAE retailers
Bahrain plans to double its VAT rate to 10 percent, which is likely to drive its citizens to shop in...In the GCC, Saudi Arabia and the UAE were the first to introduce a VAT system in January 2018
Bahrain followed a year later, and Oman brought in the tax in April 2021
Amazon extends its cloud over Middle East
Nearly two years after it set up a base in Bahrain, Amazon Web Services (AWS) has widened its footprint beyond...The new AWS Middle East UAE Region will have three Availability Zones and will be AWS' second Middle East region
Customers with data residency requirements in the UAE can now store their data in the new AWS Region in UAE
