WTO approves services trade rules, overcoming objections
The set of rules will streamline authorization requirements and ease procedural hurdles faced by businesses, according to a press release....Business
IHC posts net profit of US$8.97bn
Its revenue jumped to US$16.33 billion, a rise of 17.9 percent.Business
Iraq impounds three million captagon pills on Syrian border
Iraq has scuttled a big smuggling operation of bringing into the country a large consignment of three million pills of...In recent months, Iraqi security forces have ramped up operations against such smuggling bids, with several high-profile drug seizures reported
Iraqi police, a few weeks ago, announced a big seizure of more than six million pills of the stimulant in a major drug bust
etisalat by e& announces first 5G satellite communications in UAE
ABU DHABI, UAE - etisalat by e& announced on Saturday the implementation of the Eutelsat Quantum satellite solution, becoming the...etisalat became the first telecommunications company in UAE to expand 5G network capabilities over a software-defined satellite.
This deployment was a result of rigorous testing with customers for over a year to rapidly scale up the 5G mobile network deployment.
Silicon Valley Bank demise has markets jittery, analysts say no contagion risk
Officially closed and put into receivership by US authorities on Friday, SVB was at risk due to a heavy concentration...SVB's woes are the result of "idiosyncratic stresses and not one that we see as systemic that would affect the banking industry," said CFRA Research's Ken Leon
A note from analysts at Morgan Stanley put it simply, saying, "We want to be very clear here ... we do not believe there is a liquidity crunch facing the banking industry."
Indonesia holds two-day event in Dubai to lure investment
Dubai, UAE--The Indonesian Investment Forum kicked off in Dubai to lure businesses and investments.The two-day event aimed to explore opportunities...The Dubai event will explore opportunities to lure foreign direct investment and widen markets for export products
Bank Indonesia in collaboration with KJRI Dubai, the Indonesian Embassy in Abu Dhabi and many others hosted the event
Healthcare, education key focus of MENA: Amanat CEO
The region will benefit from investment in training institutes for nursing and health professionals, Amanat Holding CEO Mohamed Hamade tells...The region will benefit from investment in training institutes for nursing and health professionals, Amanat Holding CEO Mohamed Hamade tells TRENDS during an interview
Hamade also sheds light on how Amanat Holding balances profitability with social responsibility. He also hints at potential future investment plans and IPOs in the region
Meta confirms it is working on potential Twitter rival
SAN FRANCISCO, US - Facebook owner Meta is working on a new "text sharing" social media platform, it said Friday, in...Since billionaire Elon Musk's takeover of Twitter in October, the influential website has suffered outages, layoffs.
Several advertisers have left the platform over the alleged lack of content moderation in recent times.
US closes SVB in biggest collapse since 2008
The move sends sent global banking shares sputtering, as markets fretted over possible contagion from America's biggest banking failure since...The move sends sent global banking shares sputtering, as markets fretted over possible contagion from America's biggest banking failure since the 2008 financial crisis
SVB specialized in financing start-ups and had become the 16th largest US bank by assets. At the end of 2022, it had $209bn in assets and approximately $175.4bn in deposits
Weeklong real estate deals worth $3.51 billion recorded in Dubai
Dubai, UAE -- Dubai recorded a total of 3,332 real estate transactions worth AED 12.9 billion ($3.51 billion) during the...A Dubai Land Department report said that 274 plots were sold for AED 3.17 billion, while 2,370 apartment and villa sales totaled AED 4.93 billion.
Al Hebiah Fifth recorded the most transactions for this week with 117 sales transactions worth AED 320.97 million, followed by Jabal Ali First.
Masdar, Cote d’lvoire to develop 70MW solar power plant
Abu Dhabi, UAE -- Masdar has signed an agreement with the Cote d'lvoire's energy ministry to explore the development of...The agreements were signed under the umbrella of the Etihad 7 initiative, a UAE-led program that aims to build 20GW renewable energy in Africa.
The plant would support the Republic of Côte d'Ivoire’s goal of 42 percent of its energy mix coming from renewable sources by 2030.
Mohamed bin Zayed issues law to establish Abu Dhabi Transport Company
ABU DHABI, UAE - In his capacity as the Ruler of Abu Dhabi, President Sheikh Mohamed bin Zayed Al Nahyan...An affiliate of the Supreme Council for Financial and Economic Affairs, the company will support the emirate’s integrated transport ecosystem.
It will develop transport systems, and contributing to effective and sustainable transport services for citizens and residents.
