Crypto soars in MENA even as it loses sheen elsewhere
A tech-savvy population sees cryptocurrencies a safe investment option as governments adopt progressive regulatory frameworks, offering innovation and investor protection.Business
Air Arabia Egypt marks its first flight to Istanbul
CAIRO, Egypt – Air Arabia Egypt on Sunday commenced its first non-stop flight from Cairo International Airport to Sabiha Gökçen...Business Geostrategy Aviation
2023: A year of technological triumphs in the GCC
This year, the GCC region has solidified its technological leadership, with AI, blockchain, and the metaverse leading the charge in...In 2023, the GCC region has solidified its technological leadership, with AI, blockchain, and the metaverse leading the charge in transforming various sectors.
The GCC's 2023 tech journey has been marked by significant strides in sustainable technology, cybersecurity, and a bold entry into space exploration.
10m people attend Riyadh Season 2023 events in first 50 days, says report
RIYADH, SAUDI ARABIA - According to the Riyadh Season, 10 million people took part in the activities organized in the...Riyadh Season 2023 started in late October, and since then, it has witnessed a large visitor turnout at all entertainment areas.
At the Season, visitors can enjoy concerts, exhibitions, festivals and other events in which celebrities and prominent brands participate.
Twitter breached contract on bonuses payment, rules US court
SAN FRANCISCO, US - A US federal court ruled that social media company Twitter, now branded X, violated contracts by failing...The breach-of-contract lawsuit was brought by former employer Mark Schobinger in June.
The court said that Schobinger's claim of breach of contract under California law was valid.
Deyaar, Arady Properties sign MoU
Deyaar is a leading real estate developer in Dubai.The MoU outlines the commercial objectives for the project and provides a framework for further negotiations
Deyaar has developed strategic partnerships with renowned real estate entities in the region and beyond
Qatar’s customs and tax departments link up e-services to ‘facilitate’ business
Doha, Qatar--The General Authority of Customs and the General Tax Authority have announced the launch of the interconnection between their...The launch of interconnection is expected to achieve automation and integration of procedures, with the aim of providing the best services to taxpayers
The chairman of customs said that the e-connection between customs and tax services is part of Qatar's vision to leverage technology and provide advanced and effective services
Qatar expects a decrease in inflation next year
Doha, Qatar-- Inflation in Qatar is expected to fall in 2024, according to Ali bin Ahmed Al Kuwari, the Minister...The Qatari finance minister said the high inflation in Qatar during 2023 was linked to high food prices, and it was a temporary phenomenon
The minister said the total expenditure in the 2024 budget will be US$55.1 billion, a one percent compared to the current year's budget
UAE, Mauritius conclude CEPA talks, set to boost trade
The CEPA will cover trade in goods and services, investment facilitation amongst others. Once implemented, it will accelerate robust growth...Mauritius posted an 8.5 percent GDP growth in 2022 — the fastest in 35 years
The deal is also expected to drive FDI into fintech, healthcare and tourism sectors
‘Diverse economic needs boost global sukuk market’
"Rising rates negatively impact global issuances of sukuk, thereby affecting the global sukuk market. This reduces the appetite of global...The Sukuk market is projected to reach $823.4 billion by Q3-2023, reflecting a significant 9.8% annual growth, indicating its continued expansion.
Sukuk adoption is driven by factors such as filling budget gaps, diversifying funding sources, and establishing flexible financial tools for economic stability.
UAE best performing economy in Arab region, says Arab Monetary Fund
Abu Dhabi, UAE - The United Arab Emirates was named the most economically competitive nation in the Arab world, a...The report noted the UAE secured the top position in the government financial sector index, ranking first in the deficit/surplus to GDP ratio and second in the tax burden index
The UAE also topped the infrastructure sector index, leading in mobile phone subscriptions and the percentage of the population with access to electricity
China’s BYD to manufacture cars in Hungary
BYD already has operations in Hungary, including an electric bus factory."BYD is set to build its first passenger car factory in Szeged, Hungary, marking a significant step toward green mobility in Europe," BYD Europe said on X.
Originally specializing in battery production, BYD moved into the automotive sector in 2003 and has since become a heavyweight in electric vehicle (EV) production.
