Asian markets swing as traders assess latest tariffs volley
Asian markets were mixed Wednesday after President Donald Trump broadened his tariff threats, while traders were also assessing the geopolitical...Business
Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...Business Economy
Dubai records $1.57 billion in weeklong real estate transactions
Dubai, UAE -- A total of 1,721 real estate and properties transactions valued at AED 5.8 billion ($1.57 billion) were...The DLD weekly report said that114 plots were sold for AED 1.36 billion, 1,183 apartments and villas were sold for AED 3.13 billion.
A total of 98 properties were granted between first-degree relatives worth AED 617 million.
PIF completes investment in MEPCO
The sovereign wealth fund acquired 23% stake in the firm.MEPCO is a manufacturer specializing in the production and recycling of paper-based products in the Middle East and North Africa region.
PIF aims to expand MEPCO production, enhance its operational efficiency, and support environmental sustainability, through recyclable products, including paper goods.
AD Ports to build passenger terminals at Egyptian Red Sea ports
Cairo, Egypt--AD Ports Group (AD Ports) has signed a contract with Egypt to build, develop, operate and maintain terminals for...According to the Egyptian ministry of transport, the contract entails AD Ports Group to develop yacht and cruise-ship tourism in Egypt
The cruise lines will be operated between Zayed Port and Safaga, Hurghada and Sharm El-Sheikh and, later, Arabian Gulf ports, and Europe
Yanbu industrial port receives first RORO vessel, carrying nearly 2,000 cars
Yanbu, Saudi Arabia - The King Fahad Industrial Port in Yanbu welcomed the arrival of the "Hoegh Sydney," marking the...The port's strategic location along the Red Sea coast, coupled with its infrastructure, has attracted global shipping lines
It boasts high operational capabilities with wide approach channels accommodating larger vessels with berth depths up to 18 meters
Alba sets new production record
It produced 1,620,665 metric tonnes of aluminium in 2023.The CEO of Alba said that the company was not just celebrating numbers but the human capital behind "such achievement"
He expressed his gratitude to the chairman of the board and also members of the board for their support during 2023
GCC business landscape evolves with rising AI tide
Companies in the region are leveraging artificial intelligence to enhance customer experiences, streamline operations, and stay competitive in the dynamic...Companies in the region are leveraging artificial intelligence to enhance customer experiences, streamline operations, and stay competitive in the dynamic marketplace.
Driven by Saudi Arabia's 2030 plan and Dubai's Industrial Strategy 2030, the GCC sees a surge in AI adoption, facing regulatory and cybersecurity challenges in the cloud era.
Penguin, SkyBlue ink MoU
The aim is to redefine outdoor media advertising in Abu Dhabi.Penguin and SkyBlue will collaborate on key advertising locations, with this being the Malaysian firm’s first move into the Abu Dhabi market.
This follows an agreement between the Malaysian outdoor advertising company with the Road and Transport Authority (RTA), Dubai.
Dubai Duty Free achieves all-time record sales of over US$2.16bn in 2023
DUBAI, UAE - The New Year began on a high note for Dubai Duty Free with the announcement of an...December 2023 finished for Dubai Duty Free with record monthly sales of US$221 million, an 8.37 percent increase compared to 2022.
It's 40th anniversary celebrations offered a 25 percent discount on December 20 which led to a shopping spree of $14.8 million in 24 hours.
Weyay recognized as ‘Fastest Growing Digital Bank’ in Kuwait by Mastercard
Kuwait City - Weyay was recognized as 'Fastest Growing Digital Bank' in Kuwait by Mastercard on the sidelines of the...Since its inception as Kuwait’s first digital bank in 2021, Weyay has combined technology with a dynamic design for a seamless and comprehensive banking experience
Weyay has played a major role in providing banking services to the youth and early career professionals, aligning seamlessly with their tech-centric lifestyles
Abu Dhabi Islamic Bank adopts AI
The bank expects to enhance operations with AI tools.The bank seeks to leverage technology in order to increase productivity and efficiency in code generation and error identification
The bank says GitHub Copilot will help empower IT teams to streamline their workflows by harnessing the artificial intelligence
