EU queries Meta about ad-free subscriptions, shadow banning
BRUSSELS, BELGIUM - The EU on Friday used new regulatory powers to query Meta about ad-free subscriptions to Facebook and Instagram as...Business Geostrategy Global
UAE real estate sector transforms with cross-border payments revolution
Dubai, UAE - Leading financial institutions are spearheading a transformative wave in the UAE real estate sector through the introduction...Business
Temu, Chinese shopping app, wows US amid TikTok fears
Shopping online at Temu, Laurie Silva paid just $1.25 for earrings and $15 for a cardigan -- she is among...Temu, which was launched last September, is positioned as an Amazon-like superstore, selling everything from make-up to homeware and electronics
According to Sensor Tower, Temu has had 33 million US downloads since its launch, with user numbers surging on the month of the Super Bowl
Egypt sees growth in financial inclusion, touches 65% of adult population
Cairo, Egypt-- Egypt's financial inclusion has widened as total ownership of transactional accounts reached 64.8 percent of the total 65.4...The country's financial inclusion rose 147 percent between 2016 and 2022 to 42.3 million citizens who own and use transactional accounts
Mobile wallets and prepaid cards primarily led to the increase, growing by 54 percent and 31 percent respectively
IMF, World Bank to consider ‘ambitious reform’ in spring meetings
Washington, United States-- The World Bank and International Monetary Fund's spring meetings get underway later this week with an ambitious reform...The IMF estimates globlal growth to drop below three percent this year, and to remain at close to three percent for the five years
Although Asia's emerging markets might witness a big rise in economic output, nearly 90 percent of world's large economies will see slow growth this year
Dubai Customs to collaborate with Global Innovation Institute to boost services
Dubai, UAE--Dubai Customs has discussed with the Global Innovation Institute (GInI) how they can further enhance their customs services and...Dr. Hussam Jumaa said Dubai Customs' strove to achieve the best results in creativity and innovation, stating that innovation has become a solid corporate culture for them
By obtaining the Innovative Organization certification, Dubai Customs has become the first customs institution in the UAE and the Middle East to obtain the recognition
DIEZ profit zooms 42%
The company reported a 9 percent rise in rental revenue.The company reported a 9 percent rise in rental revenue and a 69 percent increase in revenue from commercial licences
Dr. Mohammed Al Zarooni, Executive Chairman of the DIEZ, said that more than 22,000 companies are based out of the zones.
Saudi Arabia 60 percent self-sufficient in mango production
Dubai, UAE – Saudi Arabia has achieved 60 percent self-sufficiency in the production of mangoes in the kingdom, producing more...The kingdom produced more than 88000 tons of mangoes on more than 6880 hectares of land, the Ministry of Environment, Water and Agriculture said.
More than 20 varieties of mango are produced during the growing season from April to August, which include Tommy Atkins, Kate, Kent, Alphonso.
Oman issues order to regulate consumer cooperatives
MUSCAT, OMAN - Oman Ministry of Commerce, Industry and Investment Promotion on Sunday issued an order to regulate the activities...The order aims at promoting Omani products, establishing new supply chains, supporting national industries.
The ministry pointed out that consumer cooperatives operate under a legal framework to sell goods.
Ras Al Khaimah Economic Zone attracts 1,839 companies in Q1
Ras Al Khaimah, UAE--Ras Al Khaimah Economic Zone (RAKEZ) brought in 1,839 new companies in the first quarter of 2023,...RAKEZ CEO said the reason companies choose the zone was because of its innovative business solutions and aiding enterprises of diverse types
The economic zone also posted high growth in sectors like services, e-commerce, and media companies, highlighting its diverse business landscape
Women leaders ‘just as competent as men’
Creating an environment conducive to growth for women is no longer a nice-to-have but simply good business sense, says Sahar...Sahar Haidar, Director of Global Operations at Amana, highlights the competence of women leaders in male-dominated fields.
Haidar emphasizes the importance of mentorship and creating supportive environments for women in the workforce.
SDF signs $240m loan pact for Pakistan hydropower project
Dubai, UAE -- The Saudi Fund for Development (SFD) has signed a US$240 million loan agreement to support Pakistan's Mohmand...The project is co-financed by the Saudi Fund for Development, OPEC, Islamic Development Bank, and the Kuwait Fund for Arab Economic Development.
By using renewable energy sources, the project will generate 800 MW of electricity production capacity.
