Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023
DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...Business Economy
Islamic banks’ assets reach $166bn by October 2022
According to the Apex Bank, Islamic banks' credit climbed by 5.7 percent year-on-year to $108 billion by the end of...According to the Apex Bank, the banks' credit climbed by 5.7 percent year-on-year to $108 billion by October 2022
Deposits in the banks climbed by around 1 percent year-on-year from $115 billion in October 2021
Middle East cybersecurity market set to grow in 2023 as region sees surge in internet, social media users
Nearly 60 percent of organizations in the region had increased their cybersecurity spending in 2022, Abhay Pandey, Founder and CEO...Nearly 60 percent of organizations in the region had increased their cybersecurity spending in 2022, Abhay Pandey, Founder and CEO at MAST Consulting Group, tells TRENDS
In SaudiArabia, there are 29.3 million YouTube users, 28.4 million use WhatsApp, 20.3 million are on Snapchat, 14.2 million on Twitter and 11.6 million use Messenger
Iraq’s Prime Minister heads to Germany for energy talks
BAGHDAD, IRAQ - Iraq's Prime Minister Mohammad Shia al-Sudani left Thursday for Berlin to meet with German Chancellor Olaf Scholz and...Despite its oil riches, Iraq is beset by crumbling infrastructure, endemic corruption and decades of war.
Dependent on its powerful neighbor Iran for much of its energy needs, Baghdad seeks to diversify its sources of gas and electricity supply.
US inflation falls to lowest level in over a year
Consumer inflation in the United States slipped in December to the lowest level in over a year, government data showed,...The Federal Reserve hiked its benchmark lending rate at a pace unheard of since the 1980s, in hopes of cooling the world's biggest economy.
The consumer price index in December 2022 rose 6.5 percent from a year ago, the smallest increase since October 2021.
Saudi Red Sea Film Foundation invests in new Johnny Depp film
Paris, France--A Saudi film fund announced Thursday that it is investing in Johnny Depp's new movie, a French period drama...The Red Sea Film Foundation said in a statement that it was backing the new film, "Jeanne du Barry", directed by France's Maiwenn, who also stars in the title role.
The Saudi foundation, formed in 2019, has already funded some 170 African and Arab movies, it said, but this is its first foray into European cinema.
Middle East airlines traffic up by 84.6 percent in Nov 2022: IATA
Geneva, Switzerland-- Middle Eastern airlines had an 84.6 percent growth in traffic in November compared to the same month in...Globally, traffic is now at 75.3 percent of November 2019 levels, according to the report. Total traffic in November 2022 rose 41.3 percent compared to November 2021.
The Asia-Pacific continued to report the strongest year-over-year results with all regions showing improvement compared to the prior year, media reports said.
UAE takes part in financial inclusion meet under India G20 Presidency
ABU DHABI, UAE - The UAE participated in the Global Partnership for Financial Inclusion (GPFI) meeting in the Finance Track...The meeting was held to discuss the Global Partnership for Financial Inclusion work plan for 2023.
G20 members, invited countries, GPFI members, and international organizations such as the World Bank and OECD attended the meeting.
DP World, Maersk sign partnership
They will collaborate on decarbonizing solutions, customer service.Maersk will deploy two of its solutions for customers moving their cargo through Jebel Ali Port
In Jan 2022, DP World entered a strategic partnership with the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, a non-profit organization.
TSMC posts Q4 profit of US$9.7bn
The Taiwanese company predicts slowing sales for 2023.TSMC operates the world's largest silicon wafer factories and produces some of the most advanced microchips.
It is regarded as a global economic bellwether because so many of its chips are in such a wide array of devices.
Ministerial meet discusses formation of Saudi-Bulgaria committee
Riyadh, Saudi Arabia---Saudi Arabia and Bulgaria have discussed ways to boost bilateral cooperation and develop the economic sectors between the...The two sides discussed ways to boost bilateral cooperation and develop the economic sectors between the two countries at a ministerial meeting.
Saudi imports from Bulgaria were $269.43 million during 2021, according to the UN COMTRADE database on international trade.
