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TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.
  • Saudi Arabia taps Alibaba to help Chinese tourists

    Alibaba Cloud is expected to help promote Saudi Arabia as a tourist destination to travelers in the Chinese market.

    The deal establishes the framework for a collaborative arrangement for Chinese tourists traveling to Saudi Arabia

    The agreement is part of Saudi Arabia’s strategy to employ the latest technology to deliver seamless traveler experiences

  • Siemens hydrogen plant in Egypt

    Siemens Energy expects to kickstart the hydrogen industry in Egypt.

    Siemens Energy and EEHC will pursue the development of a pilot project, comprising 100-200 MW of electrolyzer capacity

    This is will drive early technology deployment, establish a partner landscape, and set up off-take relations, among other things

  • ACME ammonia plant in Oman

    The plant will cost of $3.5 billion and be built in three years.

    The plant will be an integrated facility using 3 GWp of solar and 0.5 GWp of wind energy

    This will be used to produce 2,400 TPD of green ammonia with an annual production of 0.9 million tons

  • GCC hotel industry readies for a comeback

    The Gulf hotel sector's investments, according to reports, have reached $27 billion. New hotel projects worth $3.5 billion in the...

    Hotel licenses in Saudi Arabia can now be obtained in just 10 days.

    Until March 2021, UAE had 1096 hotels with 181.3 thousand rooms.

  • Visa signs MoU with AMF

    They will explore ways to boost cross-border payments.

    Visa and AMF’s regional payment platform will design optimal solutions to unlock sustainable opportunities in payment industry.

    Visa said the MoU reinforces its commitment to support the evolution of the Arab region and the vital role digital payments plays in this sphere.

  • Emirates allows Beirut travelers 10kg extra baggage

    Emirates said it had last year set up a humanitarian airbridge with Lebanon, dedicating flights to deliver much needed emergency...

    Increase in allowance to help people carry medical and other goods to Lebanon.

    Shortage of supplies has hit Lebanon, which is undergoing one of the worst economic crises in history.

  • Iran to sell more electricity to Pakistan

    Iran at the moment has electricity exchange with Armenia, Azerbaijan, Iraq, Turkmenistan, and Afghanistan.

    Pakistan is all set to increase its electricity import from Iran to 70 MW

    It will use this power at its under-development Gwadar port

  • UAE residents got $91.4 billion in personal loans

    Gross credit, which includes which includes loans to residents and non-residents and non-banking financial institutions up by 0.9 percent compared...

    The country's banking sector’s assets reached AED 3.2 trillion in June 2021, up by 0.6 percent compared to a year earlier.

    Total deposits also went up by 2.3 percent to AED 1.9 trillion during the same period.

  • Family firms call heirs to take command

    Family-owned businesses in the Middle East, estimated to be worth more than $1 trillion, have been bogged down with issues...

    An estimated US$15 trillion assets are expected to be transferred to the heirs globally.

    The GCC governments offer incentives to the family businesses to get enlisted in the bourses.

  • Oman Shell updates SME training

    The new program will build the capabilities of entrepreneurs.

    Oman Shell has designed the program to ensure that it aligns with Shell’s social investment strategy and Oman Vision 2040

    It takes into consideration the aspirations of its partners and entrepreneurs, while empowering entrepreneurs and Omani businesses

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