Real estate transactions worth over US$74m take place in Qatar in week
DOHA, QATAR - The volume of real estate trading in the country in sales contracts at the Department of Real...Business
Saudi Arabia, China sign MoU to develop air transport cooperation
Beijing, China - Saudi Arabia and China on Thursday signed a memorandum of understanding (MoU) to develop air transport cooperation.The MoU...Business
Samsung profits slide
Its operating profits in Q4 fell to $3.4 billion, a 69 percent drop.The decline is in line with the estimate Samsung released earlier this month and marks the company's worst decline in quarterly profits since the third quarter of 2014
It singled out weak demand for memory chips, saying the sector had been hit hard "as prices fell and customers continued to adjust inventory amid deepening uncertainties
Muscat Stock Exchange joins Tabadul network of ADX and BHB
Abu Dhabi, UAE--The Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) announced today that Muscat Stock Exchange (MSX) has...Now MSX’s listed securities, along with those of ADX and BHB, are available for digital trading
Last Year ADX and MSX signed a Memorandum of Understanding (MoU) strengthening bilateral collaboration in areas related to exchange of expertise, information, and advisory services
Dubai International Financial Centre launches ‘metaverse platform’
Dubai, UAE--Dubai International Financial Centre (DIFC) unveiled the “DIFC Metaverse Platform” to attract technology innovators from around the world.The platform...It is part of a strategy being developed by Dubai International Financial Centr to accelerate Dubai’s status as a global metaverse leader
The platform is commensurate with the Dubai Metaverse Strategy, which aims to add US$4 billion to Dubai's GDP, support 40,000 virtual jobs by 2030 and attract 1,000 companies
Monetization remains key concern as GCC turns to metaverse for investments, business expansion
The region remains cautious as it takes a strategic approach to invest in the technology by focusing on experimentation and...The region remains cautious as it takes a strategic approach to invest in the technology by focusing on experimentation and finding suitable business use cases, says an expert.
"This approach not only minimizes risk for the initial investments but also helps position the GCC for success in the metaverse economy," says Jad Baroudi of Strategy & Middle East
‘Saudi to invest US$266bn in cleaner energy’
Saudi Arabia plans to invest more than US$266 billion to produce cleaner electricity and expand its power grid, the kingdom's...Despite its goal of achieving net zero carbon emissions by 2060, Saudi Arabia remains hugely dependent on crude oil exports.
The Saudi minister said the Kingdom is determined to be the leading exporter of clean hydrogen.
Abu Dhabi Global Market receives French delegation
ABU DHABI, UAE - Abu Dhabi Global Market (ADGM) Monday received a French delegation to strengthen bilateral relations through dialogues...ADGM is home to an increasing number of French companies including renowned anchor tenants such as BNP Paribas Group.
Dialogues were exchanged through an open platform discussion along with closed-door sessions and roundtables.
TikTok CEO to testify before US lawmakers in March
TikTok is fighting for its survival in the US with rising calls from mainly Republican lawmakers that the company should...To strengthen its position, TikTok for months held confidential talks with the US government to find a long-term arrangement that would satisfy any national security concerns.
A tentative proposal struck in August included direct oversight of TikTok USA by government officials and third-party companies.
Aramco signs 100 pacts at iktva forum, launches digital company
Riyadh, Saudi Arabia--Aramco has signed more than 100 agreements and Memorandums of Understanding valued at around $7.2 billion to help...The agreements were signed with Zoom, Taulia Inc, DHL, Ministry of Investment of Saudi Arabia, Accenture, Hassana Investment Company and Achilles among others.
The iktva program has achieved 63 percent local content in 2022, up from 35 percent in 2015, when iktva was launched.
Jordan lowest bribery risk Arab nation
North Korea, Turkmenistan, Equatorial Guinea, Syria and Venezuela present the highest commercial bribery risk, said the TRACE Bribery Risk Matrix 2022.The TRACE Bribery Risk Matrix measures a country's score on the basis of four domains, which are derived from nine sub domains.
The matrix measures the risk in 194 jurisdictions, territories, and autonomous and semi-autonomous regions.
ADIB net profit in 2022 is $985m
ADIB's revenue increased by 23% to US$1.8 billion in 2022.ADIB reported a 60 percent growth in the fourth quarter of 2022 with a net profit of US$326 million.
The bank's revenue in 2022 was driven by a 43 percent increase in fees and commissions and a 24 percent growth in funded income.
