EGA advances plans to build new US aluminum plant
Abu Dhabi, UAE -- Emirates Global Aluminum, the largest ‘premium aluminum’ producer in the world, today announced the progression of...Business
Luberef net profit falls 7% in Q1
A fall in by-products sales leads to profit dip.Company News Business
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...ExxonMobil Chief Executive said "we're not on the path" to reaching net zero emissions by 2050
In November last year, COP28 conference included a call for a transition away from fossil fuels
Abu Dhabi Chamber and UAEIIC team up to boost investment
Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council...The two entities will ensure the growth of investments in the region and across the world to promote Abu Dhabi as an investment destination
They will work together to assess growth opportunities in strategic priority markets, provide consultations, and share studies and information
Saudi Arabia weighs handing state airline Saudia over to PIF
Riyadh, Saudi Arabia - Saudi Arabia is considering transferring ownership of its national carrier, Saudia, to the sovereign wealth fund,...Bloomberg initially reported the discussions regarding PIF's potential acquisition of Saudia
Currently, PIF already holds ownership of Riyadh Air, the kingdom's upcoming airline
Investcorp Capital names new CFO
Rohit Nanda, the new CFO, will take up his new job next month.Nanda before his new appointment was the head of Operations and head of Investment Structuring and Business Support, Asia, at Investcorp
He is a chartered accountant, holding a master's degree in science with a specialization in finance from the London School of Economics
GenAI set to bridge cybersecurity skills gap by 2028
As GenAI narrows cybersecurity skills gap, organizations will prioritize aptitude over specialized education, adapting hiring practices to meet demands of...As GenAI narrows cybersecurity skills gap, organizations will prioritize aptitude over specialized education, adapting hiring practices to meet demands of emerging technologies.
With malinformation costs set to exceed $500bn, businesses must invest in anti-malinformation programs and leverage chaos engineering to figh against evolving cyber threats.
Yen plunges to 34-year low, mixed results for equity markets
Hong Kong, China - The yen plunged Wednesday to a 34-year low against the dollar after a top Bank of Japan...The fall raised speculation that authorities would step into markets to support the currency after officials warned in recent days against speculation
The weaker yen helped spur a rally in the Nikkei as exporters benefited, making the index the region's best performer
Lapita sees surge in leisure and wedding bookings in 2023
Dubai, UAE--Lapita, Dubai Parks and Resorts, has reported a surge in demand, bookings from across leisure and corporate segment last...The company saw a noticeable uplift in interest in corporate customers, wedding bookings, and leisure bookings across 2023
It also hosted over 35 wedding ceremonies and receptions as well as birthdays, with the resort providing the perfect backdrop
Qatar looks to boost tourism sector by streamlining regulations
Doha, Qatar-- Qatar is looking to develop "plans and strategies" to streamline procedures and regulations in order to solve solve...Chairman of Qatar Tourism Saad bin Ali bin Saad Al Kharji said Qatari tourism sector has witnessed significant development in recent years
Al Kharji said that it is one of the main pillars of the state's strategy for economic diversification under the Qatar National Vision 2030
UAE bolsters air cargo industry with launch of ‘CARDS’ data platform
Abu Dhabi, UAE--The General Civil Aviation Authority (GCAA) has launched the Cargo Data Reporting System (CARDS), which provides a range...Al Marri said that the UAE enjoys globally competitive status as one of the most advanced countries in terms of air cargo efficiency
It is the first platform of its kind to provide an analytical view of air cargo movements to, from and through the United Arab Emirates
Middle East to receive millions of Chinese tourists lost in Covid pandemic
Dubai, UAE-- Outbound travel from China is estimated to almost double this year, compared with 2023 and will only be...The Middle East will be the first region globally to recover its Chinese inbound market with full recovery expected in 2025
According to data from the Chinese travel site Trip.com, bookings for overseas travel during Chinese New Year, soared by 540%
