Chinese electric car company Nio to enter UAE this year
Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an...Business
Oil giant Aramco says to offer shares worth over $10 bn on Saudi bourse
Riyadh, Saudi Arabia - Oil giant Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than...Business
Saudi smart homes market builds on digitization drive
Saudi Arabia's smart homes market is growing due to government backing, tech advancements, and evolving consumer tastes. As the Kingdom...The Kingdom's smart homes market is being driven by growing affluence of Saudi population, govt emphasis on digitization, and rising popularity of smart home devices.
With the support of govt initiatives and technological advancements, the sector is poised to play an important role in shaping the country's future urban landscape
e& capital invests in Maxbyte
The funding aims to expedite growth by bolstering sales team.Maxbyte is a leading provider of Industry 4.0 solutions with a strong presence in the automotive, defense, utilities, and food and beverage sectors.
It aims to enable smart connected industrial enterprise for flexibility, productivity, predictable revenue and profit growth, as well as sustainability.
Facebook and Instagram users in Europe to have greater viewing control
One of the changes announced by Nick Clegg, Meta's president of global affairs, includes giving European users of Facebook and...Under a landmark EU law, digital giants will be forced to more aggressively police content online to protect users.
Other changes include providing more information about how Meta's artificial intelligence systems rank content on Facebook and Instagram.
Microsoft submits new Activision deal
A previous version of the acquisition deal was blocked.Xbox-owner Microsoft launched a bid for Activision Blizzard early last year, seeking to establish the world's third biggest gaming firm by revenue.
Britain's Competition and Markets Authority said it has "opened a new phase 1 investigation into the restructured deal by Microsoft to buy Activision".
Stocks advance but traders wary of US rates outlook, China concerns
The gains, including a jump in US tech stocks, "looked more like a correction than a reaction to fresh news,...The gains followed a mixed showing on Monday as investors tried to turn the tide of losses that have swept over markets in recent weeks.
Markets globally have struggled this month on the prospect that the US Federal Reserve will hike borrowing costs once more.
Ajman H1 real estate transactions increase by 15 percent to $1.95bn
Ajman, UAE -- Ajman real estate market grew 15.6 percent year-on-year to AED 7.17 billion ($1.95 billion) in the first...Omar bin Omair Al Muhairi, Director-General of the Department of Lands and Real Estate Regulation, said a total of 5,310 real estate transactions were recorded during this period.
May, in particular, emerged as a notable month, witnessing a peak value of real estate transactions totaling AED1.9 billion.
Iran exports non-oil products worth $2.9bn to Iraq in four months
Tehran, Iran -- Iran exported $2.9 billion worth of non-oil products to Iraq in the first four months of the...Director General of the TPOI for West Asian Affairs Farzad Piltan said Iran exported $541 million worth of products to Iraq in 2022.
It is predicted that Iran’s export of non-oil products to Iraq will reach $10.5 billion by the end of the current year (March 20, 2024).
RAKEZ witnesses 35 percent growth in holding company registrations
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) reported a remarkable surge in the registration of holding...Holding companies can benefit from the UAE's favorable tax environment, a key factor boosting global investors' appeal.
This structure offers enhanced protection against potential risks and legal claims, an essential feature in today's complex business landscape.
DGCX waives fees for Shari’ah compliant Spot Gold Contract
Dubai, UAE -- The Dubai Gold & Commodities Exchange (DGCX) Tuesday said it is waiving trading, clearing and delivery fees...DGCX will waive the fee until 31 December 2023. This fee waiver excludes the SCA fee of $0.03.
The Exchange is also seeking approval from SCA to waive fees for its Gold Futures contract.
Among the airlines, SAUDIA Airlines had the fewest complaints in July
Riyadh, Saudi Arabia – A total of 1,873 complaints were filed by travelers against air carriers in Saudi Arabia last...The GACA has released its monthly classification index for air transport service providers, based on the number of complaints filed by travelers to GACA during July 2023
Flynas followed with 29 complaints per 100,000 travelers and a resolution rate of 98 percent, while Flyadeal had 167 complaints per 100,000 travelers
