DWTC welcomes 2.47m visitors in 2023, says EVP
DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC) Mahir Julfar said that the DWTC's performance in 2023...Business Economy Tourism
UAE stocks see US$1.7bn inflow, IHC, Emaar lead
ABU DHABI, UAE- The UAE stock markets attracted liquidity of nearly AED6.5 billion during the week's trading, with the focus...Business Markets
King Abdulaziz International Airport top Saudi performer in November
Riyadh, Saudi Arabia -- King Abdulaziz International Airport in Jeddah, King Fahd International Airport, Abha International Airport, Al-Ahsa International Airport...Among international airports with more than 15 million passengers annually, King Khalid International Airport in Riyadh bagged the second place with 82% compliance rate.
For domestic airports, Gurayat Airport topped with a 100 percent compliance rate, surpassing peers in terms of total average waiting time for flights departing and arriving.
SAMA issues rules regulating ‘buy now pay later’ companies
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has issued rules for regulating buy now pay later (BNPL) companies,...Under these rules, BNPL activity is defined as "a type of financing that allows a consumer to purchase goods or services without a term cost payable by the consumer".
The rules aim to regulate the licensing of BNPL companies and set minimum standards and procedures required to offer BNPL services.
Qatar Airways and Asian Football Confederation sign partnership deal
Doha, Qatar--Qatar Airways Group and the Asian Football Confederation (AFC) have signed a global partnership set to transform the fan...The airline said that the partnership will run from 2023 to 2029 in time for the AFC Asian Cup Qatar 2023, which kicks off next year in January
Qatar Airways CEO said that the agreements marks a shared commitment to linking up people across borders and promoting competitive sportsmanship.
Red Sea Global, VAARST join hands for marine ecosystem mapping
TABUK, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the regenerative tourism destinations, is piloting SubSLAM, an...VAARST’s photogrammetry and real-time intelligent data collection system are transforming how underwater ecosystems are mapped and preserved.
SubSLAM, developed by VAARST, enables precise quantification and identification of corals and underwater objects using advanced 4K sensors.
NCSC seeks to regulate Jordan’s cybersecurity market
AMMAN, JORDAN - National Cyber Security Center (NCSC) seeks to regulate the Kingdom's cybersecurity market by outlining and endorsing the...One of the NCSC's key measures focuses on issuing Cybersecurity Services Licensing System, its director said.
This would "effectively" contribute to strengthening and supporting Jordanian companies to enter the cybersecurity market.
Qatar receives more than 3-million tourists in 2023
Doha, Qatar-- Qatar received more than three million tourists from around the world during the ongoing year, making the oil-rich...The chairman of Qatar Tourism made the remarks during his opening speech at the 26th session of the Arab Ministerial Council for Tourism, held in Doha
Al Kharji added that tourism has been one of the most important drivers of economic growth and sustainable development in many countries worldwide
ADQ and Azerbaijan’s AIH set up joint-investment platform
Abu Dhabi, UAE--ADQ, an Abu Dhabi-based investment and holding company, and Azerbaijan Investment Holding (AIH), a strategic sovereign wealth fund...The joint-investment platform will leverage investment opportunities with the goal of generating sustainable financial returns on deployed capital
Both the entities will each hold a 50 percent interest in the joint venture, with each party committing US$500 million to the JV platform
KIPCO sells its stake in GIG
The deal is valued at 256 million Kuwaiti Dinars ($832 million).The purchase price was set at KD two per share, with an adjustment of 54 fils per share to account for the cash distributions GIG made in 2022
The sale of KIPCO's stake in GIG is seen as a testament to the company's effective strategy of acquiring, expanding, and then timely exiting companies
Turkish Airlines to buy 355 planes from Airbus
Istanbul, Turkey - Turkish Airlines said on Friday it has decided to order 355 Airbus aircraft over the coming decade as..."It was decided to purchase 355 aircraft from Airbus," Turkish Airlines chief executive Bilal Eksi said in a social media statement
The Turkish firm said in a separate corporate filing statement that the purchases would made as part of its "strategic plan" for 2023-2033
ADNOC to buy stake in Fertiglobe
ADNOC to buy OCI’s entire shareholding in Fertiglobe.Fertiglobe is listed on the ADX and is the world’s largest seaborne exporter of urea and ammonia combined.
It is also an early mover in sustainable ammonia, with production facilities in Egypt, Algeria and the UAE.
