Gold hits fresh record above $2,200 on rate cut hopes
The gains have been helped by a weaker dollar and the gold's attraction as a safe haven as geopolitical tensions...Business
Saudi Arabia tops MENA region in venture capital investment during H1 2023
Riyadh, Saudi Arabia - Saudi Arabia is the top-ranked country in the MENA region in terms of Venture Capital funding...The Kingdom accounted for 42 percent of the total capital deployed in the region during H1 2023, up from 31 percent in 2022.
-commerce and retail were the highest sector in the Kingdom by the amount of funding and by number of deals in H1 2023
Sharjah Chamber, Costa Rica discuss boosting economic ties
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and Costa Rica have discussed ways to advance bilateral economic relations.The...Discussions focused on strengthening commercial and industrial cooperation and investment among the private sector organizations and institutions
The chamber noted the incentives, privileges, and various forms of support and assistance offered by the emirate to foreign companies
Dar Al Arkan issues sukuk of $600m
issuance is the ninth tranche Sukuk program in US dollars.The maturity period is of five years at a profit rate of 8 percent annually.
The issuance order book reached US$1.64 billion (SAR 6.15 billion).
Bahrain records 2% jump in GDP on back of expansion in Q1 in non-oil sector
Manama, Bahrain--Bahrain has recorded a two percent rise in gross domestic product in the first quarter of 2023, driven by...The country's economic recovery plan aims to boost growth, attract investments and create job opportunities
Its real estate, hotels, restaurants and trade all grew between 4.2 percent and 5.3 percent during the quarter
Meta challenges OpenAI and Google with open-source Llama
The new, more powerful version of Meta's model, called Llama 2, would be available to any business for download or...Meta has avoided releasing generative AI products straight to the consumer, and instead developed Llama, a language model specifically developed for researchers
Crucially, Llama is open-source, meaning that its inner workings are available to all to be tinkered with and modified, unlike the headline-grabbing AIs developed by OpenAI
EdVentures and VMS partner to propel EdTech industry in the MENA region
Dubai, UAE - EdVentures, an Edtech corporate venture capital firm in the MENA region, has announced a strategic partnership with...The partnership between the two companies will allow both companies to support a greater number of Edtech startups
EdVentures will provide startups with its specialized incubation while VMS will leverage its network to offer essential guidance and mentorship
Dubai Chambers to host two-day event in November on global trade
Dubai, UAE-- Seeking to forge partnerships around the world, Dubai Chambers will host a two-day event in November this year...The two-day event running under the theme of "Shifting Economic Power" Dubai and the future of global trade" will be held at Madinat Jumeirah
The occasion will see leaders from sectors as diverse as technology, retail, finance, travel and hospitality, real estate, and healthcare
ADNOC Gas signs deal with IOCL
It will export annually up to 1.2m metric tonnes of LNG.The 14-year agreement is valued in the range of $7 billion to $9 billion, signifying a major step in the partnership between the two industry players
The deal marks another milestone for ADNOC Gas to expand its footprint around the globe, reinforcing the company's position as an LNG exporter
Sharjah nurturing publishing sector for five decades
“Sharjah has hosted the world’s largest book fair in terms of buying and selling of copyrights, developed pioneering business solutions...Sharjah Book Authority's contributions remain crucial in achieving cultural goals, says SBA Chairperson Sheikha Bodour Al Qasimi
Sheikha Bodour emphasizes the vision and need to build Sharjah as a global beacon of knowledge, creativity, and innovation
Sharjah records first half real estate deals worth $3.65 billion
The city of Sharjah accounted for the largest (3,794) share of the transactions.A total of 40,483 transactions took place in the first half of 2023, and the value of real estate mortgages amounted to AED4.1 billion ($1.12bn)
The number of sales transactions in the various regions of the emirate during H1 2023 reached 4,187 transactions, with a value of AED5.7 billion ($1.55bn)
