‘Global Collaboration Village aims to digitize and democratize WEF dialogues’
DAVOS: The future of global collaborations is being shaped by innovation and the ubiquitous embrace of immersive technologies, which continue...Technology Business Economy
Wheels in motion for investors as two Gulf carriers plan 2025 IPOs
UAE's Etihad Airways and Saudi Arabia's Flynas are preparing to listing on local stock markets, the first IPO by Gulf...Business
Eve Air Mobility, flynas ink MoU
The firms will explore starting eVTOL services in Saudi Arabia.The agreement will contribute to Saudi Arabia’s aviation industry by building the ecosystem for electric flights.
flynas operates over 1,500 weekly flights to over 70 domestic and international destinations.
Google to pay Canadian media $73m annually after a deal with Ottawa
Ottawa, Canada -- The Canadian government and Google have reached a deal to support the country's media, heading off an...The amount is less than the government-estimated compensation, but heads off a potential online blackout for news in Canada, where Google and Meta are the dominating platforms.
The agreement will reportedly allow Google to negotiate with a single group representing all Canadian media, rather than one-on-one deals.
FAB becomes first MENA bank to publish TCFD climate report
Abu Dhabi, UAE -- First Abu Dhabi Bank (FAB) became the first MENA bank to publish a Task Force for...The TCFD standard, promoted by the Financial Stability Board since 2015, urges entities to specify the resilience of their strategies to climate-related risks.
The report delivers on FAB’s 2019 commitment to agree to adopt TCFD recommendations into its reporting and disclosure processes.
Saudi Arabia’s PIF to buy 10 percent stake in London’s Heathrow airport
Saudi Arabia's sovereign wealth fund is to buy 10 percent of London's Heathrow airport from Spanish infrastructure giant Ferrovial, whose...Heathrow, which is one of the world's busiest airports, is owned by the consortium FGP Topco Limited.
Ferrovial bought its stake in Heathrow in 2006 and initially held 56 percent of the hub, before reducing its interest.
Aster to separate its India and GCC businesses
Dubai, UAE - Aster, an integrated healthcare provider, is separating its India and GCC businesses, subject to regulatory and corporate...Under the plan, a consortium led by Fajr Capital has entered into an agreement to acquire a 65% stake in the ownership of the GCC business
The separation plan will unlock value for the shareholders by allowing both the India and GCC businesses to adopt a market-focused strategy
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.
