CBDCs, DeFi and AI boost FinTech innovation in GCC
The GCC's FinTech sector is booming with CBDCs revolutionizing cross-border transactions and a surge in innovations boosting financial inclusivity, efficiency,...Business Banking & Finance
Arab Bank Group net profit $829.6m
The Group posted a 52% increase in net income compared to 2022.Company News Business
Dubai 11th popular city for investment visa programs, second for Covid safety
Henley & Partners’ Best Residence-by-Investment Cities for Business Index ranks cities according to lifestyle, tax, education, real estate, healthcare, security,...Dubai scored highest overall in the index in the tax category.
The emirate was second on the index for Covid-19 safety.
Instagram to curb mental harm
Instagram has worked to address problems of bullying, suicideInstagram is now exploring ways to understand what kinds of posts make viewers feel bad in comparison and then "nudge" people to content more likely to make them feel good
Social media giant is making a version of the social network for children 13 years old or younger, a move opposed by child safety advocates
UAE’s non-oil trade weathers pandemic to reach $371 billion in 2020
DUBAI: The UAE's non-oil trade rose to AED 1.403 trillion ($371 billion), reflecting the country's robust trade exchanges despite the...Imports have hit AED 785 billion, accounting for 56 percent of total merchandise trade.
China was UAE's main trading partner with the bilateral trade value reaching AED174 bn.
The Grand Renaissance Dam: Egypt’s Nile nemesis
Ethiopia's refusal to sign a binding agreement on the dam has dashed hopes of a settlement with Egypt and Sudan.Egypt's area under agriculture could lose by up to 72 percent in case of short filing of the dam.
Ethiopia has said earlier treaties on Nile waters have undermined its rights and the dam will help in the country's development.
UAE, Israel eye trillion-dollar business
The UAE marks one year since normalising ties with Israel today as the leaders hope the Abraham Accords could reap...The economic benefits have come quickly for the UAE and Israel after the US-brokered Abraham Accords
Both have signed a series of deals ranging from tourism to aviation and financial services
Chevron plans ‘lower carbon’ ventures
The activists want the company to do more to address climate concernsThe US oil giant said it would more than triple spending through 2028 to $10 billion on its "lower carbon” businesses.
Like its US rival ExxonMobil, Chevron has faced intensifying pressure from environmentalists
Apple’s iPhone 13 set to capture 5G potential
Apple Inc today revealed iPhone 13, Series 7 smart watch, and an iPad Mini with 5G connectivity. The iPhones will...iPhone 13 will have custom 5G antennas and radio components
The Series 7 smart watch will feature a larger display and will start at $399
ACWA Power of Saudi Arabia aims to raise $1.2bn through IPO
ACWA Power of Saudi Arabia intends to raise nearly $1.2 billion through Initial Public Offering (IPO), and in this regard...The listing will value ACWA at up to $11 billion – making it the biggest offering in Riyadh since Saudi Aramco’s listi
The firm has 64 projects in 13 countries, representing a value of $248 billion
GII of Dubai to pick stake in Saudi healthcare firm for $600m
Gulf Islamic Investments (GII) of Dubai is looking to pick up a stake in a Saudi healthcare company for $600...The UAE-based financial services firm plans $1bln expansion in the Kingdom
'We have a lot of faith in Saudi,' says the company’s co-founder Mohammed Alhassan
Kuwait partners with World Bank for development
The memorandum is said to be in line with Kuwait Vision 2035 and the national development plan 2021-2025.For Kuwait, Finance Minister and Minister of State for Economic and Investment Affairs Khalifa Hamadah signed the memorandum
World Bank’s Regional Director for Saudi Arabia and the Arab Gulf Countries, Esam Abo-Sulaiman was the co-signatory
