‘Wadeem’ sold out for $1.49bn
This is the highest Abu Dhabi real-estate release to date.Company News Business
Meta’s AI talent war raises questions about strategy
New York, United States -- Mark Zuckerberg and Meta are spending billions to recruit top artificial intelligence talent, triggering debates...Technology Business
Gulf Air hit by data breach
It said client database may have been compromised.The airline said its operations and critical systems "were fully intact" and that there were no disruptions to its flight schedule
It said the details of the breach were shared with the authorities and it was working with them to investigate "the matter thoroughly"
Jordan’s jewelry, pharmaceutical exports rise in January-September 2023
AMMAN, JORDAN – The Kingdom’s exports of jewelry increased by 71.5 percent during the January-September period of 2023 and pharmaceutical...The value of Jordan’s exports of jewelry until the end of September amounted to about US$858 million.
The value of the Kingdom’s exports of pharmaceutical products until the end pf September was about US$531 million
Indonesia’s exports to UAE expected to rise by $4bn with CEPA trade pact
Jakarta, Indonesia - The Comprehensive Economic Partnership Agreement (CEPA) is expected to increase Indonesia’s exports to the UAE by around...UAE was Indonesia’s second-largest trading partner in the Middle East in 2022
Indonesia recorded $61.8 million in direct investment from the UAE in Jan-September 2023
‘Sustainable aviation fuel roadmap required urgently’
"The global air transport sector has rebounded to pre-COVID-19 pandemic levels of 2019, with some countries already surpassing these levels,"...ICAO Conference in Dubai sets the stage for climate action in aviation.
UAE praised for its leadership and sustainable vision in aviation post-COVID.
AI transforms office roles and enhances productivity
Artificial intelligence automates tasks and boosts capabilities, leading to transformative changes in job roles, productivity, and staff engagement dynamics.Artificial intelligence automates tasks and boosts capabilities, leading to transformative changes in job roles, productivity, and staff engagement dynamics.
Chatbots and virtual assistants are set to enhance employee experience and workplace efficiency, while companies shift focus to outcome-based performance.
ADNOC unveils inaugural green hydrogen refueling station
Abu Dhabi, UAE - ADNOC announced on Friday it opened “H2GO”, the region’s first high-speed green hydrogen pilot refueling station,...The station will be operated by ADNOC Distribution, and is likely to create green hydrogen from water using an electrolyser powered by clean grid electricity.
The hydrogen supplied at the pilot station will be certified as “green” from solar sources by the International REC Standard.
Saudi Arabia raises US$11bn syndicated loan to fund deficit
RIYADH, SAUDI ARABIA - Saudi Arabia raised a syndicated loan of US$11 billion (SAR 41.25 billion) to fund a budget...The 10-year loan was funded by a group of banks including Industrial and Commercial Bank of China
Citigroup Inc, First Abu Dhabi (FAB), and HSBC Holdings Plc,will help in funs according to sources familiar with the matter.
UAE approves Dubai Metro Blue Line project
DUBAI, UAE - Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved the...Sheikh Mohammed underscored that investments in infrastructure projects align with Dubai's strategy for comprehensive city development.
This is a new 30 kilometer metro route that will strategically link key areas in the emirate through 14 stations,
Saudi minister says 6,225 industrial firms from Kingdom invest US$30bn in Egypt
RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of...At least 518 Egyptian companies are operating in the Saudi market, the minister said.
He said that over 285 Egyptian brands are spread out across the Kingdom.
Qatar posts trade balance surplus of US$16.7bn in Q3 2023
DOHA, QATAR - The merchandise trade balance of Qatar (difference between total exports and imports) recorded a surplus of US$6.7...In Q3 2023, Asia was the principal destination of Qatar’s exports and imports, representing 74.9 percent and 36.3 percent respectively.
In Q3 2023, the European Union, accounting for 10.4 percent and 27.5 percent of Qatar's exports and imports respectively.
