GIB, KSA wrap up Sukuk debut
Gulf International Bank is a merchant bank in the Middle EastCompany News Business
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...Business Economy Energy Climate Change
Digital inclusion vital for economic growth: Experts at WEF discussion
DUBAI: An estimated 47 percent of people worldwide are offline, and the cost of available broadband exceeds affordability targets in...An estimated 47 percent of people worldwide are offline, and the cost of available broadband exceeds affordability targets in 50 percent of developed countries.
The UAE’s information and communications technology spending is estimated to reach $23 billion by 2024.
What are the top ecommerce platforms in the GCC?
Ecommerce in the world in general and the GCC region in particular has proliferated despite the Covid-19 pandemic, or probably...The UAE and Saudi Arabia together accounted for 75 percent of total ecommerce sales in the region
Ecommerce is expected to rise at a compound annual rate of 19 percent in 2024
Mubadala mining JV unit sold
Matsa is a JV subsidiary of Mubadala and Trafigura.The deal is valued at €1.58 billion ($1.85 billion)
It is expected to conclude in the first quarter of 2022
2022 World Cup may help Qatar sustain growth
The projects initiated as part of hosting the tournament include the construction of eight stadiums, Doha Metro Rail, a new...Stadiums constructed for the world cup would be later given to local clubs for utilization
QTA announced new tourism strategy which aims to attract 5.6 million visitors to Qatar annually by 2023
China central bank says all crypto transactions are illegal
The bank has effectively sounded the death knell for digital currencies in China.The global values of cryptocurrencies including Bitcoin have massively fluctuated over the past year partly due to Chinese regulations
The rulings have sought to prevent speculation and money laundering
WSJ reports China preparing for Evergrande’s downfall
The Wall Street Journal, the top American newspaper, has reported that Chinese authorities are asking local governments to prepare for...Local governments have been ordered to assemble groups of accountants and legal experts to examine the finances around Evergrande's operations in their respective regions
Both bonds would default if Evergrande fails to settle the interest within 30 days of the scheduled payment dates
Canon to employ 30% women in KSA
The global camera maker aims to meet the target by the end of 2023.It has launched a “Women in Sales” internship program to further support the 2023 target
The move is in line with national efforts to integrate more women into the Kingdom’s workforce
Saudi Arabia seeks to attract $5.3bn in investments in data and AI
Saudi Arabia aims to be one of the top 10 countries in the world in data and artificial intelligence, and...Digitization is not a luxury, minister says
Kingdom is training 25,000 Saudis youth in digital skills
US approves $1bn for Iron Dome defense system
This came after the funding was controversially stripped from a separate bill following a revolt from the left flank of...The money had originally been included in legislation addressing a looming government shutdown and a potential October debt crisis
But progressives in the House of Representatives said they would tank that unless the funding was removed from it
UAE, US strengthening business cooperation
Both countries signed an MoU to strengthen cooperation in areas of digital economy, innovation, and entrepreneurship.Minister of Economy Abdullah bin Touq Al Marri and Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi
They met US Secretary of Commerce Gina M Raimondo, in the presence of officials from both countries
