Troubled Boeing faces investors and awaits strike vote
Boeing, the beleaguered aviation giant announces what is expected to be its biggest quarterly loss in four years, and striking...Business
US considering Google breakup following monopoly ruling
The US Department of Justice (DOJ) made recommendations for Google’s search engine business practices on Tuesday, according to US media....Business
Exclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economy
In the GCC, online market growth surpasses offline, driven significantly by Saudi Arabia, amid intense competition where local brands increasingly...In the MENA region, customers are enticed by augmented reality games with tangible rewards, as the digital economy rises and brands innovate to meet growing expectations
In an intensifying market, customers' multi-channel interactions offer brands crucial CX strategy insights, reflecting the escalating expectations they have from merchants
Egypt to drill 45 exploratory gas wells with investment of US$1.9bn
Cairo, Egypt--The Egyptian government plans to drill 45 natural exploratory gas wells in the Mediterranean and the Nile Delta with...Between July 2022 and June 2023, Egypt drilled nearly 10 wells that yielded huge disovery in the Nargis Offshore Area Concession, adding reserves of 2.5 trillion cubic feet
Tarek El-Molla, Egypt's Minister of Petroleum and Mineral Resources, said that until 2025, a total of 35 exploratory wells will be drilled with $1.5 billion in investments
Q Properties awards $470bn contract for Reem Hills Phase 1 Villas construction
Abu Dhabi, UAE – Q Properties, a real estate developer and subsidiary of Q Holding, announced on Tuesday the award...Trojan will be responsible for constructing the fully sold out 218 luxury villas ranging from 4 to 7BR and developing 3 million sqft of built-up area
Situated at the heart of the capital, Reem Hills stands as the sole gated community on Abu Dhabi's prestigious Al Reem Island
Iranian company SAIPA to export cars to Russia
TEHRAN, IRAN – The CEO of SAIPA Auto Making Company, Iran’s second-largest car manufacturing company, said a contract has been...SAIPA is planning to supply 90,000 units of the QUIK sedan model to Russian customers in the next three years.
Exports can start within a month and after the required permits are issued by Russian authorities.
Iran’s non-oil exports reach US$19.3bn in March to July 2023
TEHRAN, IRAN - Some 56 million tons of non-oil goods, valued at US$19.3 billion, were exported in the first five...Also 14.4 million tons of non-oil goods, valued at US$24.2 billion were imported into the country from March 21, 2023 to July 22, 2023.
In this period, China, Iraq, the United Arab Emirates (UAE), Turkey and India were Iran’s main export markets respectively.
Ryanair inks pact with Joramco
The airline is likely to carry 300m passengers a year by 2034.Ryanair will now utilize six heavy maintenance lines at the new facility in Amman- Jordan where Joramco is set to conduct 41 checks
The 110,000sq meter facility will facilitate the heavy maintenance of Ryanair’s aircraft as the airline grows its fleet to 800 aircraft.
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
