MENA ups cybersecurity ante to combat GenAI risks
With GenAI emerging as a new frontier for cyber threats, and stricter data privacy laws coming into effect, organizations are...Business Tech & Media
DP World gets rating upgrade
The boost is seen as key for its long-term growth plans.The rating upgrade follows two major investments in 2022 at DP World’s flagship UAE assets: Jebel Ali Port, Jebel Ali Free Zone, and National Industries Park
According to Moody’s, DP World’s diversified global port operations led to the improved rating
SIB 2022 profit reaches $177mn
The bank recorded an increase of 26.6 percent.The bank also reported an operating profit of $272 million in 2022, an increase of 17.4 percent from the previous year
The bank also reported an operating profit of $272 million in 2022, an increase of 17.4 percent from the previous year
UN blames Myanmar military coup for boost in opium farming
The area of land used for opium poppy cultivation expanded by a third to just over 40,000 hectares in 2021-22...The UNODC estimates Myanmar's opium economy is worth around $2 billion -- the equivalent of up to three percent of the country's GDP in 2021
A combination of the pandemic and the aftermath of the coup hammered Myanmar's economy with an 18 percent contraction in 2021, according to the World Bank
NBF posts 195% profit jump
The bank's net profit rose to $93 million in 2022.Net interest income and net income from Islamic financing and investment activities grew 29.8 percent to $327 million
Income from investments and Islamic instruments stood at $5 million
Libya signs US$8bn deal with Italy to develop offshore sites
Looking to develop offshore hydrocarbon sites, Libya's National Oil Corporation has signed an $8-billion deal with Italian energy company ENI....Libya sits atop Africa's biggest oil reserves but has been engulfed by conflict since the 2011 revolt that toppled longtime dictator Moamer Kadhafi
Italy has been scrambling to find alternatives to Russian energy since Moscow's invasion of Ukraine, and Italian Prime Minister Giorgia Meloni is set to visit Tripoli
Revenue from Saudi cinema may exceed $1bn by 2030
The revenue of Saudi cinemas increased by 9.47% to approximately US$240 million until December 25, 2022, compared to 2021's revenue...The revenue of Saudi cinemas increased by 9.47% to approximately US$240 million until December 25, 2022, compared to 2021's revenue of US$232 million, a latest report points out
Although the Saudi film industry is still in its infancy, the goal is to increase the number of local films shown in theaters to 70 per year by 2030
Boeing posts Q4 loss of US$634m
Firm confirmed its 2023 outlook amid strong aviation demand.Boeing said its commercial plane business was dented by "abnormal costs".
It said "labor instability and supply chain disruption" weighed on its defense, space and security unit.
Iraqi PM to visit France for energy and security talks
BAGHDAD, IRAQ - Iraqi Prime Minister Mohammed Shia al-Sudani will travel to France on Thursday for energy and security talks with...Sudani said he wants to "activate the agreements" between oil-rich Iraq and France "particularly in the transport, energy and investment sectors".
French giant TotalEnergies in 2021 signed a $10 billion contract with Baghdad, but work on the multiple projects is yet to begin.
Saudi National Housing signs 22 MoUs to boost local real estate sector
Riyadh, Saudi Arabia---Saudi Arabia's National Housing Company signed 22 MoUs worth nearly 4 billion riyals ($1.06 billion) on the sidelines...The MoUs worth nearly 4 billion riyals ($1.06 billion) were signed on the sidelines of the launch of the materials platform, Mawadat, at the Future of Real Estate Forum.
The electronic platform facilitates the process of direct linking between real estate developers and contractors with factories and suppliers of building materials.
Lebanese protest as local currency hits new low
Lebanese protesters blocked roads and burnt tires near the central bank in Beirut as the local currency plummeted to a...Lebanese banks have imposed draconian restrictions on withdrawals since the country's economy collapsed three years ago.
Dozens of protesters gathered Wednesday near the central bank headquarters amid heavy deployment of security forces.
