Qatar awards $6bn in contracts for Al-Shaheen oilfield expansion
The four engineering, installation and procurement contracts will increase production at the Al-Shaheen oilfield -- the country's largest -- by...Business Economy
China edges out Japan as world’s top vehicle exporter
In recent years, China's auto sector has grown remarkably largely because of massive investments in electric cars, an area where...Business
Zoomcar enters Egypt market
Zoomcar targets 5,000 cars in Egypt by March 2022.Zoomcar to launch their functioning in Egypt
The target of Zoomcar is to have 20,000 cars in market by 2022 end
Tasi, the Tadawul All Share Index, vaults 0.4% to go past 11,800
The Tadawul All Share Index, TASI, vaulted 0.4 percent to surge past the 11,800 point level in early trade today.Al Rajhi Bank rose more than 1 percent
Etihad Etisalat (Mobily) gained 2 percent to SR30.85
Deficit to surplus: GCC economies on growth track
The combined current account balance of oil exporters in the GCC region is likely to shift from a deficit of...UAE economy is expected to grow by 2.2 percent in 2021 and by 4.9 percent in 2022, supported by tourism, oil prices recovery and Expo 2020 activities.
Saudi Arabia's real GDP growth fell 4.1 in 2020 and is expected to increase to 1.9 percent this year and 4.8 percent in 2022.
Fintech Galaxy raises $2m in seed funding
The funds will be used to develop and rollout Open Finance platform.The seed round was led by Jordan’s Ahli Fintech and joined by Raz Holding Group, OMQ Investments.
The Open Finance platform aims to redesign financial services with an open API infrastructure.
Mobily signs recycling deal
Mobily will recycle old and discarded Ericsson devices.Mobily is now expected to join the Ericsson Product Take-Back Program to recycle discarded electronic devices
The program is responsible for the disposal and recycling of electrical equipment at the end-of-life stage
Marjan lands $272m RAK project
Dubai Investments and Marjan have tied up for the project.The project’s design is reportedly set to offer a private enclave with waterfront views
It is targeted at social gatherings, family unions, business meetings, or personal relaxation
UAE makes up 88% of GCC investment in Sub-Sahara Africa
Over 3,000 government officials, business leaders and industry experts representing 91 countries took part in the 6th Global Business Forum...Fintech, healthcare, agriculture, e-commerce were identified in the report as high-potential sectors
Around 90 percent of surveyed executives said they expect fintech to see the most growth in 2022
Saudi Arabia, UK discuss education cooperation
The two countries discussed ways of enhancing educational, academic, and research cooperation.Saudi Arabia and the UK talked about sharing the best practices and expertise in education
The meeting also addressed their efforts in fields of cooperation in public education, developing curricula, and the courses system for secondary education
Start-ups at in5 secure investments worth AED1.4 billion
More than 150 new companies joined in5 since 2020, bringing the grand total of start-ups supported by the incubator to...Start-ups that successfully secured significant investments include buy-now-pay-later start-up tabby
Sunglasses e-commerce company Eyewa, has secured AED 77 million in total funding
Saudi realty players bet big on an auction site
Property owners list their property on Mazad Aqari and the platform does the rest in terms of evaluating the property,...Property owners can list their property on Mazad Aqari and the platform will do the rest in terms of evaluating the property, marketing, sales, and closing the deal
Saudi Arabia's real estate sector, according to Statista, is expected to reach US$150 billion by 2026 at a CAGR of 12 percent
