Saudi Arabia’s space economy reaches $8.7 billion in 2024
Riyadh, Saudi Arabia -- The Communications, Space, and Technology Commission (CST) has said that the Saudi space economy reached $8.7...Business Economy
European Union and UAE agree to launch trade deal negotiations
Emirati President Mohammed bin Zayed Al Nahyan "and I just decided to launch negotiations on an EU-UAE free trade agreement,"...Business Economy Geostrategy
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
Telefonica to cut 3,421 jobs
The layoffs will reduce costs for the Spanish company.The layoffs will happen during the first quarter of 2024 and will mainly involve employees who are 56 years or older
The Spanish company employs about 16,500 people in its home country, while its global workforce is over 100,000
King Abdulaziz International Airport serves 42.7m passengers in 2023, a 36% growth
Jeddah, Saudi Arabia — King Abdulaziz International Airport served over 42.7 million passengers in 2023, reflecting a remarkable growth rate...The total number of flights reached 250,000, a 25% jump compared to 2022, which recorded 200,000 flights
Its Terminal 1 ranked first with 179.9 thousand flights, a 16% increase compared to 2022, which recorded 154.6 thousand flights
UAE and Jordan discuss boosting trade and investment ties
Amman, Jordan--The UAE and Jordan discussed enhancing trade and investment relations in order to stimulate joint economic growth and create...The decision to enhance ties came up in a meeting between the UAE's minister of state for foreign trade, and Jordan's prime minister
Al Zeyoudi said the two countries wish to develop economies driven by innovation and the unhindered exchange of trade and investment
