Microsoft, AI to set up data-center project
It will cost US$100bn and will include an AI supercomputer.Business
ADNOC looks to buy Covestro
The German firm will hold "open-ended" talks with ADNOC.ADNOC said in mid-August that it was willing to make a new improved proposal to Covestro of $12.4 billion if it would get talks moving
The talks between the two come as the vital German chemicals industry, which accounts for about five percent of the country's GDP, is gripped by crisis
Data, rail, electricity key focus as G20 eyes EU-Middle East-India trade plan
Major G20 partners are set to unveil ambitious plans on Saturday to enhance trade among India, the Middle East, and...Washington, Saudi Arabia, the EU, the United Arab Emirates and others will sign the deal on the sidelines of the G20 summit in New Delhi
Washington actively prods Riyadh - a major oil producer and security partner - to normalize ties with Israel after decades of conflict and closed borders
Russia’s largest bank launches new services in Iran
Tehran, Iran--Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to the Islamic...According to the bank, the service would be available to both individuals and businesses using their Sber account
Last year, Russia’s second-largest bank VTB launched a similar service and then in May it opened a branch in the country
Alif debuts in the UAE with Alif pay launch
Dubai, UAE - Alif, a Central Asian fintech leader, is expanding its presence into the United Arab Emirates (UAE) with...Among the services that Alif Pay will introduce in the UAE are "Send Now Pay Later," a payroll platform, a travel prepaid program, "Buy Now, Pay Later"
According to data from the World Bank, outward remittances from the UAE reached an impressive $47.54 billion in 2021, with expectations of continued growth
Dubai real estate sales up despite price rise since January 2020
Dubai, UAE – The Dubai Land Department (DLD) reported over 3,200 transactions worth AED 24.7 billion last week and this...Research show real estate transactions soared by 44 percent in the first six months of 2023 with nearly 60,000 units being sold.
Several industry analysis indicate that the real estate sector in the emirate will observe growth of approximately 15 percent in 2024.
Qatar realty market trading volume $277 million in August
Doha, Qatar -- Qatar real estate market recorded deals worth QR1.011 billion ($277 million) in the month of August 2023,...The real estate market index for the month of August revealed that the financial value of Doha municipality's transactions amounted to QR 290 million.
Of the 10 most expensive properties sold in the month, Doha accounted for seven and Al Rayyan, Al Wakrah and Umm Salal one each.
Russia’s Sberbank launches new tourism-oriented services in Iran
Tehran, Iran -- Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to...According to Sber, ruble transfers will be sent to the Iranian Pasargad Bank with the standard commission for international transactions of 1 percent. Â
Last December, Russia’s second-largest bank VTB launched a similar service in Iran and later in May it opened a branch in the country.
Iran receives US$6.7bn foreign investment in May 2023 EXPO, says official
TEHRAN, IRAN - Foreign companies and governments committed some US$6.7 billion worth of investments during an exhibition that was held...The Iranian diplomat said that his country has an ambitious vision to diversify its economy away from crude oil revenues.
He said that this includes expanding the transportation infrastructure in Iran to significantly increase its cargo transit revenues.
Global rice prices hit 15-year high after India curbs: FAO
Rice is a major world food staple and prices on international markets have soared in the wake of the Covid...The consumer affairs and food ministry said at the time that the move would "ensure adequate availability" and "allay the rise in prices in the domestic market".
The ban was expected to hit African nations, Turkey, Syria and Pakistan, all of which were already struggling with high inflation, data analytics firm Gro Intelligence said.
Tabreed signs MoU with Indian state
Asia's largest district cooling PPP project in Hyderabad part of deal.The cooling infrastructure will potentially reduce over 200MW of peak electricity demand.
The district cooling agreements are part of Telangana’s vision to become net zero by 2047.
