2024 Crypto Crime Update Part 2: China-based cybercrime networks on the rise
In part 1 of our mid-year crime update, we discussed trends related to ransomware and stolen funds. While aggregate illicit...Business
ExxonMobil expects global oil demand near current levels in 2050
New York, United States - Global oil demand is unlikely to fall by 2050 despite progress on renewable energy, the US...Business
Merger of Saudi Enaya and UCA okayed
The merger remains subject to regulatory approvals.The two companies had signed a binding merger agreement through a share swap deal, under which UCA will issue a 0.837 common share for each issued share in Saudi Enaya.
On 29 April 2021, Saudi Enaya Cooperative and Amana Cooperative Insurance signed a merger agreement.
Nakilat profit jumps 4.8%
The company's profit swelled to US$327 million in Q3 of 2023.Its earnings per share (EPS) amounted to QR 0.21 as of Sep. 30, 2023, versus EPS of QR 0.20 for the same period in 2022
The company, in March, obtained approval to raise the ceiling for non-Qatari ownership in the company's capital to 100%
Non-oil revenue boost shows GCC’s financial wisdom
The GCC nations exemplify financial prudence. Their continuous efforts to boost non-oil revenues, reform tax policies, and modernize and digitize...GCC countries embark on a transformative economic journey, underpinned by national economic plans
The Gulf economies showcase resilience, recovering from the COVID-19 pandemic amidst global challenges
Solana Foundation joins DMCC Crypto Center as ecosystem partner
DUBAI, UAE: DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has...The partnership compliments DMCC’s existing offerings and collaborations by increasing its members’ ability to develop their concepts using Solana.
Through this collaboration, Solana will offer technical and business development support to DMCC Crypto Centre members.
Dubai’s economy grows 3.2 percent in H1 2023
DUBAI, UAE – The Emirate's economy grew 3.2 percent in H1 2023 to reach US$60.9 billion (AED223.8 billion). The performance...Trade activities achieved an added value of US$14.5 billion in H1 2023, growing by 1.7 percent compared to the same period in 2022.
Trade activities are vital for Dubai’s economy and for the wider region, as they effectively contribute to sustainability and economic prosperity.
Marakeb first firm to develop maritime applications in SAVI cluster
Abu Dhabi, UAE -- The Abu Dhabi Investment Office (ADIO) announced that Marakeb Technologies will become the first anchor company...Marakeb is a technology provider for aerial, ground, and marine applications that has developed and manufactured solutions in the UAE for the past 15 years.
Marakeb will be able to test new technologies at the cluster’s sea testing zone in Mussafah Port, which houses a port and the Abu Dhabi Maritime Academy.
Phoenix set for IPO on ADX
It is the first crypto entity to be listed on a Middle East bourse.The firm specialises in a range of services, from high-performance computing to crypto and cloud mining, data centre hosting, crypto trading, and crypto mining products
The IPO on Abu Dhabi Securities Exchange would be the first privately owned crypto and blockchain entity to be listed on a Middle East stock market
Qatar banker Sheikh Jassim withdraws bid to buy Man Utd
Sheikh Jassim was among the front-runners to buy Manchester United after several rounds of bidding earlier this year, but the...British billionaire Jim Ratcliffe is now set to secure a 25 percent stake in the club for around $1.7 billion
Al Thani's bid was for full control of Manchester United and promised to clear the club's borrowings
IMF agrees on rise in funding, extra Africa board seat
The IMF announced member nations agreed to increase their contributions to the global lender and give sub-Saharan Africa a third...The quotas, which are based on the size of a country's economy, determine how much funding a nation should provide to the IMF.
IMF chief Kristalina Georgieva and World Bank President Ajay Banga used this week's meetings to urge members to step up funding.
UAE, South Korea ink MoU to enhance air transport relations
ABU DHABI, UAE - The United Arab Emirates, represented by the General Civil Aviation Authority (GCAA), has signed a Memorandum...This MoU includes an agreement to increase the number of national carrier flights between the two countries to 21 flights per week.
The signing of this MoU followed discussions held in Seoul on October 12 and 13, 2023, with representatives from both countries' aviation sectors.
