Abu Dhabi Chamber sets up working group to support startups, SMEs
ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...Business Economy
Aramco CEO terms energy transition strategy a failure
Speaking at the CERAWeek conference in Houston, Saudi Aramco Chief Executive Amin Nasser said that the current transition strategy is...Business
Hotel revenues in Oman grow 27.8% to $318 million in July
Muscat, Oman -- The revenues of 3-5-star hotels in Oman reached RO 122.5 million ($318 million) at the end of...The total number of hotel guests grew by 25.8 percent to 1.09 million by the end of July 2023.
Hotel occupancy posted a growth of 10.3 percent. The number of Omani guests reached 411,551.
Qatar’s trade balance surplus increases by 12.8 percent in July
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...Imports of goods in July 2023 amounted to around QR 9.4 billion, showing a decrease of 1.6 percent compared to July 2022.
China was the leading country of origin of Qatar's imports with about QR 1.6 billion, a share of 16.7 percent of the imports.
GCC optimistic about FDI growth despite hiccups
Despite a decline in FDI inflows in the past few years, GCC countries remain optimistic as they expect strong economic...The GCC countries are generally stable and have a good track record of protecting foreign investments.
The Gulf nations have abundant natural resources, such as oil and gas, which attract foreign investors in the energy sector.
ChatGPT turns to business as popularity takes a tumble
ChatGPT Enterprise will be powered by GPT-4, OpenAI's highest performing model, much like ChatGPT Plus, the company's subscription version for...ChatGPT Enterprise will offer business customers a premium version of bot
The ChatGPT business version resembles Bing Chat Enterprise, an offering by Microsoft
Toyota factories across Japan hit by massive glitch
The news of system glitch sent Toyota's stocks into the red, trading 0.64 percent lower at 2,421.0 yen. But the...Twelve vehicle factories, affecting 25 lines, are not able to process orders for parts due to a system glitch, a Toyota spokesman said
The Toyota factory in the southern Kyushu region and subsidiary Daihatsu's factory in Kyoto remained operational, the spokeswoman said
Kross Studio redefines high-end horology by crossing tradition and innovation to tick luxury revolution
Launched amidst the pandemic, Marco Tedeschi's venture seamlessly blended traditional watchmaking with modern technology, collaborating with major brands to achieve...Launched amidst the pandemic, Marco Tedeschi's venture seamlessly blended traditional watchmaking with modern technology, collaborating with major brands to achieve success.
Kross Studio partnered with franchises like Star Wars and Game of Thrones, offering timepieces priced between $90,000 and $150,000, with the Middle East as a prime market.
UAE’s PureHealth acquires UK’s largest private healthcare group for $1.19bn
Dubai, Riyadh - PureHealth, the largest healthcare group in the Middle East, has entered into an agreement to acquire Circle...The acquisition aligns with their broader expansion strategy, which encompasses acquisitions in the US and other international markets
Circle Health Group, with over 50 hospitals spread across the UK, is known for its extensive network of private healthcare facilities
ICIEC, SAPICO ink pact
Pact to enhance commercial activities between the two.The ICIEC is a member of the Islamic Development Bank (IsDB) Group and a leading Shariah-compliant multilateral insurer.
This partnership aligns with both parties' shared vision of fostering international trade and economic development.
Expo Center Sharjah to host 63% more events in last quarter
Sharjah, UAE - Expo Centre Sharjah said it will host 63 percent more events in the last quarter of 2023,...The Center will host 18 economic, trade, and cultural exhibitions, while during the same period last year, it hosted 11 such events.
The events are scheduled to take place not only at the Expo Centre Sharjah but also at its affiliated centers located in Khorfakkan and Al Dhaid.
Iran inaugurates final phase of country’s largest gas field
The South Pars gas field is one of the world's largest natural gas condensate fields. Iran shares the gas field...Oil Minister Javad Owji said around 50 million cubic meters of gas will be extracted daily from phase 11 of the project "after the completion of the wells".
Iran has the world's second largest gas reserves, after Russia, and the world's fourth largest oil reserves.
