1 Billion Followers Summit: AI’s transformative role in content creation highlighted by YouTube, Meta, Duolingo
Dubai, UAE - The 1 Billion Followers Summit, the world’s largest event dedicated to the content creator economy, brought together...Business
All six lines of Riyadh Metro are now operational
The Royal Commission for Riyadh City (RCRC) announced that the phased rollout of Riyadh Metro culminated as of Sunday, Jan....Business
Technological advances propel UAE’s payments industry
The sector's growth, driven by the transition to digital transactions and tech innovations, positions UAE as a leader in the...The sector's growth, driven by the transition to digital transactions and tech innovations, positions UAE as a leader in the evolving global payments landscape, says a report.
Moreover, the Gulf country's economic expansion and changing consumer preferences towards digital payments are also leading to continuous growth of the payment industry.
Turkish Airlines explore options of buying 355 Airbus jets
Istanbul, Turkey - Turkish Airlines, the country's flag carrier, confirmed on Monday that it was in talks with Airbus to buy...The airline said that negotiations are held with Airbus regarding the purchase of a total of 355 aircraft.
In September, Turkish Airlines revealed plans to purchase 10 additional Airbus A350-900 aircraft
Chemanol to buy stake in ACC
It will acquire 84 percent stake for US$12.3 million.The purchase amount would be disbursed partially and within specified intervals, as per the terms stipulated in the SPA.
Chemanol said the acquisition is aimed at enhancing its share in the market and diversifying its product range,
Emirates, flydubai among Boeing’s big customers at Dubai Airshow
Emirates, the Middle East's biggest airline, made the largest purchase with its $52 billion order for 55 Boeing 777-9s, 35...Budget carrier flydubai, owned by the Dubai government, ordered 30 Boeing 787-9s valued at $63 billion -- its first wide-bodied, or large-capacity planes as it plans to expand.
Last week Emirates Group announced record half-year net profits of $2.7 billion, up 138 percent from a year earlier, driven by strong demand.
Saudi pioneering solutions for water scarcity
The kingdom is forging partnerships with major corporations to revolutionize water technologies and achieve water self-sufficiency.Water scarcity is 500 cubic meters per capita, while Saudi Arabia's annual per capita share of water does not exceed 89.5 cubic meters.
The Saline Water Conversion Corporation has signed agreements with several major corporations to tackle water scarcity.
PIF to invest in Alkhorayef Petroleum, secure 25% shareholding
Riyadh, Saudi Arabia — The Public Investment Fund (PIF) has formally announced the signing of a share subscription agreement to...PIF secures a 25 percent shareholding in the oil and gas production optimization solutions provider, with Alkhorayef Group retaining the majority stake of 75 percent.
Alkhorayef Petroleum specializes in artificial lift, wireline services and equipment, as well as early production facilities.
ADIB lists $500m green sukuk on LSE
The bank marked the issuance of its $500 million green sukuk.London Stock Exchange has welcome ADIB’s listing, as the world’s first dollar denominated green sukuk.
This follows the bank’s recent successful listing of US$750 million AT1 perpetual sukuk.
Salik records $138m in Q3 revenue
This is the toll operator's highest Q3 revenue since 2007.The 14.6 percent year-on-year revenue growth was supported by a strong growth in tourism and residency.
Salik reported a net profit of AED255 million during the third quarter of 2023, up 5.3 percent against the prior year.
Sustainability in style: UAE’s couture goes green
The UAE is shifting from Western influences to eco-friendly practices in its apparel market. 2023 marks the nation's commitment to...In the UAE, environmentally friendly, competitively priced, stylish, and high-quality products are increasingly being offered by brands
They use organic cotton and other environmentally friendly materials like bamboo, hemp, and recycled polyester
Al Ghurair to use Oracle solution
This will help HR teams improve business operations.Through this strategic collaboration, Al Ghurair seeks to empower its employees through self-service capabilities.
Oracle Cloud HCM transforms the traditional functions of HR departments such as recruiting, training, payroll.
