Abu Dhabi residential sector achieves record growth in 2023, says report
ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...Business Economy
Singapore’s Petrozo Energy setting up Sharjah base to target Middle East
Sharjah, UAE – Petrozo Energy, a leading Singapore-based oil and gas company, has announced a plan to establish a new...Business
Qatar opens new derivatives market, investors can trade options, futures
Doha, Qatar--Qatar's bourse intends to open a new derivatives market that will allow investors to trade options and futures on...The country's financial regulator has issued a new regulatory framework for listed derivatives after a long consultation with investors and market participants
Qatar is now focused on building its equities market by opening it up to a wider investor base and introducing more listings
G42 is leading listings of tech companies on ADX: Presight chairman
Abu Dhabi, UAE - Mansour Ibrahim Al Mansouri, Mansour Ibrahim Al Mansouri, Chairman of the Board of Directors of Presight,...Al Mansouri said that Presight has a plan for regional and international expansion and the provision of solutions to customers in big data and artificial intelligence
Group 42 (also known as G42) is an artificial intelligence and cloud computing company that was founded in Abu Dhabi, United Arab Emirates in 2018
Presight stock jumps 143%
The stock rocketed to AED3.7 from an offer price of AED1.34.Its initial public offering (IPO), which was oversubscribed 136 times, received total gross demand amounting to US$25.8 billion
The company's listing gives investors a chance to buy shares in the region’s leading international big data analytics company powered by AI
Sovereign wealth set to boost M&A activity in MENA
The region's corporate/M&A activity is expected to grow this year on the back of an unprecedented Sovereign Wealth movements in...The region's corporate/M&A activity is expected to grow this year on the back of an unprecedented Sovereign Wealth movements in Abu Dhabi and Saudi Arabia, says an expert
The region continues to defy the global declining trend, with a 13% rise in M&A transactions in 2022, adds Fraser Dawson, CFA, Partner at Corporate Finance, Addleshaw Goddard
EU closer to banning fossil fuel car sales after Berlin lifts veto
Brussels, Belgium - The 27 EU member states approved Monday a deal between Brussels and Germany that lifted Berlin's block on...The ban on internal combustion engines is key to the EU's ambitious push to become a "climate neutral" economy by 2050, with net-zero greenhouse gas emissions.
Germany blocked the deal at the 11th hour, calling for an exemption for cars that run on synthetic fuels.
AI partnership to boost Abu Dhabi sustainability efforts
Abu Dhabi, UAE - The Technology Innovation Institute (TII) said Monday its AI and Digital Science Research Center (AIDRC) has...The Technology Innovation Institute's AI and Digital Science Research Center will partner with Mohamed bin Zayed University of Artificial Intelligence.
Over a period of three years, the researchers will work on developing advanced AI models for cybersecurity and smart city applications.
Criminals set to use ChatGPT for fraud, other cybercrimes: Europol
Created by US startup OpenAI, ChatGPT appeared in November and was quickly seized upon by users amazed at its ability...Europol said the criminals may use phishing, disinformation and malware to do more online frauds.
ChatGPT can also be used to write computer code, especially for non-technically minded criminals. the agency said.
Savola to pay $93m in dividends
The date of distribution will be announced later.The General Assembly date will be set after securing the formal approvals from the relevant authorities.
The Group reported a net profit of 742.80 million riyals for 2022, a 234.75 percent rise over 221.90 million in 2021.
Aramco to acquire 10% stake in China’s Rongsheng Petrochemical
The agreement with Rongsheng Petrochemical comes as Saudi Arabia -- the world's biggest crude exporter -- increases political ties with...Rongsheng deal comes day after Aramco announced it would partner with two other Chinese companies to build a refinery and petrochemical plant in the Chinese city of Panjin.
Aramco CEO Amin Nasser said at the China Development Forum on Sunday the firm, a leading source of income for the kingdom, was "doubling down on China's energy supply".
Al Rajhi to issue sukuk
The sukuk terms will be determined as per market conditions.The bank said the offer will meet the bank’s financial and strategic objectives in accordance with its Sustainable Finance Framework.
The bank issued its Saudi riyal-denominated Tier 1 sukuk valued at SAR 6.5 billion ($1.7 billion) in January last year.
