Rising threat: DDoS attacks demand proactive defense
"Threat actors can employ artificial intelligence (AI) and machine learning (ML) algorithms to identify vulnerabilities and adapt their tactics in...Business
Central Bank of Bahrain Sukuk Al Ijara oversubscribed by 186 percent
Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al...Business
SUV sales ‘offset’ carmakers’ electric gains: Greenpeace
The SUVs produced by Toyota, Volkswagen, and Hyundai-Kia have all posted sales increases of more than 150% over the past...Greenpeace report said that SUVs emit approximately 12 percent more carbon dioxide than sedans
Volkswagen SUV sales soared by 270% over the last 10 years, while Toyota SUV sales have risen by 158%
Iran’s exports to African countries register 185 percent growth
Tehran, Iran--Iran’s export to African countries in the first seven months of the current Iranian calendar year registered a 185...The Islamic Republic's exports to Africa from March 21 to October 22, 2023 showed a more than 185 percent growth
According to an Iranian official, the country would witness $5bn worth of trade with Africa in the next few years
Amazon releases AI chatbot
"Q" will be available only to the company's AWS cloud."Q" will be available only to Amazon's AWS cloud computing customers and will be in direct competition with ChatGPT as well as Google's Bard and Microsoft's copilots
Costing $20 monthly per user, Amazon Q will perform a variety of tasks including summarizing uploaded documents and answering questions about specific data
CBUAE and People’s Bank of China renew currency-swap agreement
Abu Dhabi, UAE--The Central Bank of the UAE (CBUAE) and the People’s Bank of China today signed an agreement to...The agreement is expected to boost the strategic partnership between the UAE and China as well as expand the ties in the financial and economic fields
With a nominal value of $4.90 billion, the renewal of the agreement aims to promote financial ties by facilitating the provision of liquidity in local currency to financial markets
ADX set for dynamic growth in 2024 with new listings
"ADX's crucial role in bridging investors with companies, fostering growth opportunities, and reinforcing the UAE and Abu Dhabi's status as...Abu Dhabi Securities Exchange anticipates continued growth and new listings in 2024, says CEO Abdulla Salem Al Nuaimi.
2023 witnessed notable listings like ADNOC Gas and Investcorp Capital, with more scheduled, including the Phoenix Group.
Abu Dhabi IPO Fund looks to launch three IPOs by end of 2024
Abu Dhabi, UAE--Abu Dhabi IPO Fund (ADIPOF) is working on three initial offerings in the technology, hospitality, restaurants, and financial...Al Khawaja said one of the offerings will be for a family business in the financial sector and foreign exchange and remittances
The fund, according to Al Khawaja, considers family businesses as the key to advancing economic development in Abu Dhabi
GCC banks navigate rising rates with record lending
Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the...Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the UAE, and robust economic indicators.
GCC-listed banks hit a new record with aggregate gross loans reaching US$1.95 trillion by Q3-2023, as strong manufacturing and project awards boost market scenario.
China announces 25 measures to aid private businesses
Beijing, China - China's central bank and several government agencies unveiled 25 new measures Monday to support private economy.These initiatives...These initiatives aim to diversify financial avenues for private businesses, marking a continued effort to bolster the private sector
These initiatives aim to diversify financial avenues for private businesses, marking a continued effort to bolster the sector crucial for the country's economic progress.
Diamond industry adopts tracking as Russia sanctions loom
Antwerp, Belgium - As European capitals prepare to implement long-awaited sanctions on Russia's diamond exports, Belgian traders are bracing for new...Russian stones accounted for around a third of the global market before its Ukraine invasion, and G7's decision to ban trade in them could have broad repercussions
The European Union is drawing up bans on Russian diamonds as part of its 12th package of sanctions to tighten the vice on Moscow's war economy and cut off its funds
Foxconn to invest $1.54bn more in India
The firm announced in May to purchase land for $37 million in India.Chairman Young Liu had said during an earnings call in August that the company saw the potential to invest "several billion dollars" in India
The company is planning to expand its India operations to "critical components" for consumer electronics and electric vehicles to boost its competitiveness
