Oil prices drop, stocks climb as Iran-Israel war fears ease
Israel's surprise strike against Iranian military and nuclear sites on Friday -- killing top commanders and scientists -- sent crude prices...Business Economy
OpenAI enlists iPhone designer to create ideal device for using AI
New York, United States -- ChatGPT-maker OpenAI has enlisted the legendary designer behind the iPhone to create an irresistible gadget...Technology Business
Cornerstone laid for $40 million logistics park at King Abdulaziz Port
Riyadh, Saudi Arabia -- The cornerstone was laid for an integrated SAR150 million ($39.99 million) Logistics Park at Dammam's King...The area of the new park is 100,000 sq. meters, with capacity of 300,000 TEUs annually.
It aims to facilitate the growth of shipping connectivity, and global logistics services, and to raise the quality and efficiency of services.
Yango shakes up UAE transportation sector with innovative tech and safety features
DUBAI -- In the heart of the UAE, a significant transformation is taking place in the transportation sector. As the...The firm emphasizes on safety with advanced technologies like speed control and driving-style monitoring systems.
Beyond ride-hailing, Yango offers last-mile delivery solutions and an AI Arabic-speaking assistant, Yasmina.
SAMA seeks public feedback on financial governance amendments
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has invited interested parties and specialists concerned with “Key Principles of...The amended key principles aim to keep alignment with the latest regulatory changes and updates in the new Companies Law and its Implementing Regulations.
Suggestions and observations on the draft will be received within (15) days of this announcement for assessing their relevance in finalizing the draft, SAMA added.
India’s L&T secures EPC contract for Saudi Arabia’s Amaala project
New Delhi, India - Larsen & Toubro (L&T) secured a major Engineering, Procurement, and Construction (EPC) contract for the Amaala...The contract, awarded by the consortium of Masdar and EDF, involves the establishment of renewable energy generation, power utilities, and water systems
L&T, as the turnkey contractor, inked the EPC agreement with Amaala's developers, Masdar, and EDF, reports in Indian media said
Abu Dhabi Maritime unveils new hub
Maritime Hub Abu Dhabi will boost the marine sector.The hub will benefit from interaction with influential bodies, policymakers and a vibrant community of players covering offshore, maritime suppliers
It is expected to play a crucial role in facilitating the maritime industry’s sustainability, offering awareness, guidance in relation to decarbonisation
Apple to appeal US watch ban
The company contends that the ITC finding was in error.The ban on Apple's latest smartwatch models came into effect Tuesday, with the Apple Watch Series 9 and Apple Watch Ultra 2 no longer available in stores or online
The ban is the latest legal tussle involving big tech companies over valuable patents that has also seen Google battle in court against Sonos in a fight over speaker tech
Bahrain emerges as a thriving hub for tech startups
Entrepreneurs equipped with the right skills, a robust business strategy, and the ability to forge meaningful collaborations are well-positioned to...Bahrain is witnessing an increasing demand for digital transformation across various industries.
Entrepreneurs in the Gulf country need innovation, adaptability, and strong networks for success.
UAE insurance sector witnessed expansion in 2022: CBUAE
Abu Dhabi, UAE--The insurance sector in the UAE witnessed growth and expansion across various key indicators during 2022, according to...The growth in the insurance sector is expected to shore up the market's liquidity and make it more resistant to any future downturns
According to the CBUAE report, the number of direct premiums written expanded by 11.2 percent year-on-year to 9.8 million in 2022
IPOs, investments help GCC markets prosper in 2023
Regional markets are reflecting a transition from oil dependency to diversified economies with six IPOs raising $419 million in in...Regional markets are reflecting a transition from oil dependency to diversified economies with six IPOs raising $419 million in in Q3 2023, led by Saudi Arabia and Qatar.
The change is part of a broader strategy, including Dubai Taxi Company's IPO and Saudi Arabia's Vision 2030 initiatives, signaling a new era in the GCC's economic narrative.
Oman year-on-year growth rate touches 15.4 percent
Muscat, Oman - Oman's achieved a 15.4% year-on-year sector growth, as reported by the National Center for Statistics and Information...The growth revolves around a rapidly evolving landscape, propelled by strategic investments and diversification endeavors.
Omani Maritime freight was at the forefront, commanding a significant 54.8% share of all inbound goods in 2022.
