FAB delivers strong results in 2024 with profit before tax of AED 19.9 billion, up 13% yoy
First Abu Dhabi Bank (FAB) has achieved solid results in 2024 with Group net profit reaching AED 17.1 billion, up...Business
Stocks mostly rise, oil falls as Trump fans Ukraine peace hopes
London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...Business Economy
GCC Commercial Arbitration Centre to use AI in its operations
Manama, Bahrain-- The GCC Commercial Arbitration Centre has started to harness AI techniques, according to its secretary general, Dr. Kamal...The initiative aligns with the prevailing trends of leveraging technologies in digital transformation and fostering development across diverse sectors
Al Hamad said that around 92 percent of legal institutions and judicial bodies in the world plan to increase their use of AI in legislative and legal case analysis
Bahrain kicks off roadshow in China to boost tourism sector
Manama, Bahrain--The Bahrain Tourism and Exhibitions Authority (BETA) began a roadshow in Shanghai and Guangzhou, China, involving prominent travel, tourism,...The roadshow n China looks to promote Bahrain as a prominent tourist destination in regional and global markets
BETA tied up with the private sector to create distinctive tourism products that contribute to boosting the economy
ACC holds workshop in Jordan on dangers of human trafficking
AMMAN, JORDAN - Amman Chamber of Commerce (ACC), in cooperation with Ministry of Justice and Jordan Judicial Council (JJC), organized...The workshop aims to introduce human trafficking crime in Jordanian law and global pacts and the measures taken at the national level to help victims.
The workshop reflects the "important" role played by national institutions in combating human trafficking and raise awareness of its dangers.
Excel Astra to build facility in KEZAD
The fabrication unit will cost the firm US$5.44m.The new installation will benefit from the collective expertise of KEZAD and ASTRA to accelerate growth in the industry sector while creating jobs and providing products
The business facility is expected to source $21.78 million worth of goods and services from the local market annually, thereby strengthening the local economy
Saudi EXIM Bank ink $51bn deal with Turkish firms
Riyadh, Saudi Arabia - Saudi EXIM Bank signed line of credit agreements worth $51 million with Türkiye Finans Katılım Bankası...The agreement is likely to help boost trade between the two countries and facilitate the flow of Saudi non-oil exports to the Turkish markets
The agreement with Türkiye Finans Katılım Bankası A.Ş values at $26 million, the one with Albaraka Türk Katilim Bankasi A.S. at $25 million
UAE insurance sector assets rise US$3.1bn in 9M 2023
ABU DHABI, UAE - The UAE insurance sector continues to exhibit robust growth, as evidenced by a 9.6 percent increase...Central Bank of the UAE data shows that assets rose 3.05 percent from US$1 billion to US$ 34.7 billion between Q2 and Q3 of 2023.
The UAE's leadership position within the Arab insurance landscape is further solidified by its consistent ranking among the top global performers.
Google agrees to settle $5bn data privacy breach lawsuit
Google has agreed to settle a consumer privacy lawsuit seeking at least $5 billion in damages over allegations it tracked...The lawsuit, filed in a California court, claimed Google's practices had infringed on users' privacy by "intentionally" deceiving them
Lawyers for the plaintiffs were seeking at least $5,000 for each user it said had been tracked as they visited Google Analytics in private browsing mode
Saudi’s Maaden announces discovery of new gold reserves
Riyadh, Saudi Arabia - Saudi Arabian Mining Company (Maaden) on Thursday announced a discovery of substantial gold reserves, marking a...The company's exploration program has led to discovery of a gold resource potential spanning across a 100-kilometer stretch from the existing Mansourah Massarah gold mine
As of year-end 2023, Mansourah Massarah boasted nearly seven million ounces of stated gold resources and a nameplate production capacity of 250,000 ounces annually
Huawei says expects higher revenue
The company is leading equipment manufacturer for 5G.Sanctions since 2019 have cut the firm off from access to US-made components and technologies, forcing it to diversify its growth sources
In 2023, the group expected revenues of more than 700 billion yuan ($99.2 billion), Hu said - an increase of nearly nine percent from last year
Xiaomi launches first electric car
The car manufactured by Xiaomi likely to enter market by 2025.Xiaomi boss Lei Jun took to the stage in Beijing Thursday to unveil the SU7, a sedan that is scheduled to enter the market in 2025
Xiaomi announced in 2021 to enter the highly competitive sector of electric vehicles manufacturing
