Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...Business Economy
Social media platform X to shutter local operations in Brazil
Social media platform X, formerly Twitter, will shutter its local operations in Brazil following a bitter legal tussle over the...Business
Value of Dubai realty deals up 40 percent in third quarter 2023
Dubai, UAE -- The value of real estate deals in Dubai increased by 40 percent to reach AED 97.55 billion...The emirate's market surged 22 percent in terms of transactions, with Q3 2023 recording 31,216 transactions compared to 25,503 in the same period in 2022.
In terms of the number of transactions, Jumeirah Village Circle topped with 1,418 transactions, followed by Arjan (1,163) and Sobha Hartland (1,115).
Saudi Jisr raises $30m investment from Merak Capital
Riyadh, Saudi Arabia - Jisr, the largest platform for digitizing human resources operations in Saudi Arabia, has closed an investment...This marks the largest Series A investment round for a Software as a Service (SaaS) company in the Middle East
Jisr, founded in 2016, stands as the first Saudi human resources management platform, supporting over 3,000 clients
ADNOC signs pacts with 30 firms
This will create manufacturing opportunities worth $2.7bn.The new agreements, outline the companies’ intention to locally manufacture products potentially worth up to AED10 billion ($2.7 billion) in ADNOC’s supply chain, ADNOC said.
Personal Protective Equipment, which will enhance the safety of operations across all ADNOC Group companies, are among the products to be produced locally.
Arab Development Establishment looks for JV partnerships in oil, gas sector
Abu Dhabi, UAE-- The Arab Development Establishment (ARDECO) has revealed that it is in talks with several international companies in...The CEO of ARDECO said the partnerships with global companies will strengthen the government's approach to making the emirate a global hub for the oil and gas sector
He went on to add that his company represents more than 200 global firms in gas, oilfield services, and it intends to transform its relationship with these companies
Google’s new phone to run AI on-device
At a launch event in New York, Rick Osterloh, SVP of devices and services at Google, said that the company's...The announcement by Google caps the autumn release season for big tech hardware that saw Apple unveil the iPhone 15 series and Meta officially launch its latest VR headset
Running on a powerful chip, Google's Pixel 8 Pro would carry out AI functions on device itself instead of relying on transfers from cloud data centers that require heavy bandwidth
Endava to widen UAE operations
It will join the UAE's FDI program to expand footprint.It has a global workforce of more than 12,000 scattered all over the world in Europe, North and South America, Asia and the Middle East
Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said the UAE's partnership with Endava is a milestone for the NextGen FDI initiative
Masdar City, ADAFZ sign MoU
The two free zones will collaborate to grow businesses.Masdar City Free Zone companies that establish operations within ADAFZ will have the opportunity to lease warehouse and manufacturing space
The collaboration will help improve synergies and strategic partnerships between Abu Dhabi Free Zones and grow the free zone ecosystem in the emirate
Fintech innovations reshape GCC’s banking landscape
The region's fintech growth, fueled by a tech-savvy populace, robust regulations, and digital adoption, is drawing global focus, heralding the...The GCC countries are rapidly emerging as a leading fintech hub, revolutionizing traditional banking and financial services across the region
The region's fintech growth, fueled by a tech-savvy populace, robust regulations, and digital adoption, is heralding the future of financial services
Farmers turn to solar power in Syria’s former breadbasket
Al-Haddadiya, Syria - At his farm in Syria's northeast, Abdullah al-Mohammed adjusts a large solar panel, one of hundreds that have...Solar energy has offered a lifeline for the farmers amid drought and power shortages, but some warn the boom also has environmental costs in the once-fertile region
"We are trying to revive our land," despite dwindling groundwater reserves, said Mohammed, 38, as he oriented the panel towards the sun near his cotton fields.
QatarEnergy awarded new Egypt offshore exploration block
Doha, Qatar -- QatarEnergy has been awarded a new exploration block offshore Egypt as part of the 2022 EGAS International...The block EGY-MED-E8 (East Port Said) was awarded to a consortium comprising of QatarEnergy (33 percent), ENI (Operator, 34 percent) and BP (33 percent).
Qatar has a total of four offshore exploration blocks, including interests in Red Sea Block 3 and Block 4.
