Sweden’s gaming group Embracer divests Russian assets
Stockholm, Sweden - Swedish gaming group Embracer, which owns the Borderlands franchise and the Tomb Raider license, announced on Thursday that...Business
Brighter US economic outlook fuels global oil demand growth forecast
Rising fuel needs of ships rerouted away from the Red Sea also to increase demand, the International Energy Agency said....Business Energy
Crisis hits investments in MENA startups
While the startup ecosystem flourishes in the Middle East and North Africa region, concerns arise over the durability of investments...Despite a 20% drop in venture capital investments in Q1 2023, the startup ecosystem in the Middle East and North Africa region remains resilient, say experts
Concerns over the sustainability of investments and banks' ability to support SMEs have arisen amid the ongoing global banking crisis, they add
38 million passengers used services of SRTA in 2022, say reports
SHARJAH, UAE - The Sharjah Roads and Transport Authority (SRTA) said it transported about 38 million passengers, throughout the year...The beneficiaries of taxi services and franchise companies within the emirate amounted to 29 million passengers.
The total beneficiaries of bus services amounted to about 5.3 million, with an average of 14,500 passengers per day.
ZATCA sets criteria for target firms to apply phase II of e-invoicing
RIYADH, SAUDI ARABIA - The Zakat, Tax and Customs Authority (ZATCA) has set the criterion for selecting target establishments in...ZATCA said that it will notify all targeted establishments in preparation for linking the electronic billing systems with the Fatoora platform, starting January 1, 2024.
It stressed that phase II includes additional requirements including issuing E-invoices based on a specific format.
Qatar Industrial Production index up 2.8 percent in April
DOHA, QATAR- The Industrial Production index (IPI) of Qatar for April 2023 reached 106.4 points which is an increase of...The index of the mining sector showed an increase by 3.2 percent compared to the previous month (March 2023).
For manufacturing the index of this sector showed an increase by 0.5 percent compared to the previous month (March 2023).
ADDED signs pact with Valeo to set up automotive technology hub in Abu Dhabi
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED) has partnered with Valeo to develop the automotive industry...Valeo plans to explore new areas of development by integrating its advanced technologies and its sustainability vision in green cities.
The agreement to design and manufacture electric and autonomous driving car components will improve smart and sustainable mobility.
Iraq-UK economic ties strengthen on back of uptick in trade
London, UK--Volume of trade exchanges between the UK and Iraq has exceeded one billion dollars and imports and exports between...The Iraqi-British trade exchange saw huge growth, with the commerce volume crossing one billion sterling pounds, and British exports to Iraq surging by 40 percent
The cooperation between Iraqi and British universities has grown in recent years even as the UK has made investments in the social sector and education in Iraq
More than dozen private joint-stock companies list in UAE in 2022
Abu Dhabi, UAE-- The number of private joint-stock companies which listed in the UAE's capital markets during 2022 went up...According to SCA, twelve companies listed on the Abu Dhabi Securities Exchange and one company listed on the Dubai Financial Market
The listing of private joint-stock companies enable them to access a large capital base, besides opening the way to raise a company's brand value
Stable oil price achieved by OPEC, OPEC+ to benefit member states: Saudi oil chief
Baghdad, Iraq - The Organization of the Petroleum Exporting Countries (OPEC) and OPEC+ alliance have succeeded in achieving stable oil...The Saudi minister made the statement during a celebration hosted in the Iraqi capital, Baghdad on Friday marking the Diamond Anniversary of the OPEC's founding
Both the OPEC and the OPEC+ have succeeded in achieving stability in markets, thanks to consensus among all OPEC member states, Al-Saud said
Saudi Arabia scouts Europe for business tie-ups in healthcare, mining sectors
Riyadh, Saudi Arabia-- Saudi Arabia is aiming to establish a slew of business partnerships in healthcare and mining sectors with...In their meetings with CEOs of British companies, the Saudi officials discussed strategic healthcare partnerships, digital transformation and biotechnology
In Germany, the Saudi delegation met with investors and representatives of major companies to explore investment opportunities in the industrial and mining sectors
RAKEZ entices Indian investors with ‘lucrative’ business prospects
Ras Al Khaimah, UAE-- Looking to boost economic cooperation and convince businesses across India to invest in the free zone,...RAKEZ's team met with many business chambers, industry associations, such as the Bombay Industries Association, Federation of Indian Export Organization
Its CEO Ramy Jallad noted with satisfaction the overwhelming response from businesses and startup founders, which showed their high level of interest in Middle East
