Saudi tech firm Alat to ally with Softbank, Carrier Corp, Tahakoum, Dahua Tech
Riyadh, Saudi Arabia - Alat Company, a subsidiary of the Saudi Public Investment Fund (PIF), has announced four global partnerships...Business
Saudi National Bank launches US dollar-denominated sukuk
RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle.The sukuk are offered to qualified investors...Business Banking & Finance Economy Markets
ADJA delivers training program on drafting contracts, legal memos
ABU DHABI, UAE - The Abu Dhabi Judicial Academy (ADJA) has conducted a specialized training program on drafting and writing...This was done to develop the skills and competencies of practitioners engaged in the legal profession.
The program will help the professionals to improve the quality of their service.
ADIB ups ownership in ADIB Egypt
ADIB acquired 9.6m shares from National Investment Bank.ADIB acquired 9.6 million shares from National Investment Bank (NIB), representing 2.4 percent of ADIB Egypt’s share capital.
The deal has raised ADIB UAE’s ownership in the Egyptian unit to 52.607 percent.
NBF introduces ‘CVVkey’
It will shield customers from fraud and online threats.CVVkey will be a key element in NBF's efforts to improve cybersecurity across its operations and protect its customers from fraud and other online threats
Every few hours, the CVVkey app provides a unique 3-digit dynamic security code for each card enrolled in the service
Stellantis to build electric ‘air taxis’ with Archer
Called Midnight, the vehicle looks like a small plane with several rotors on its wings and is designed to make...Stellantis will invest up to $150 million in Archer and its vertical takeoff and landing aircraft (eVTOL) designed to carry four passengers in addition to the pilot
The two groups had previously partnered in 2021 but on a more limited scale, with Stellantis expected to provide technical assistance and access to its supply chain
GCC investment in non-oil sectors grew in 2022
GCC countries witnessed the launch of massive economic and development projects in various sectors last year as part of their...GCC countries witnessed the launch of massive economic and development projects in various sectors last year as part of their strategy to diversify their economies
The Kingdom's NEOM introduced the energy and water company Inwa, while the Saudi Ports Authority launched 12 private sector investment opportunities last year
dnata begins building warehouse
The facility will be capable of processing 100,000 tons of cargo annually.The facility represents an investment of US$14 million and will create up to 50 additional, direct jobs with dnata in Iraq.
The foundation stone for the cargo warehouse is scheduled for completion in September 2024.
Ex-crypto boss Bankman-Fried pleads not guilty to fraud
The United States has charged Bankman-Fried with conspiracy, wire fraud, money laundering and election finance violations. Prosecutors allege he cheated...The 30-year-old former digital currency billionaire, who is out on bail, entered the plea in federal court in Manhattan before New York judge Lewis Kaplan
FTX and its sister trading house Alameda Research went bankrupt in November, dissolving a virtual trading business that at one point had been valued by the market at $32 billion
Qatar recycles 80% of waste collected during World Cup
Doha, Qatar-- Qatar has recycled some 80 percent of waste collected from stadiums during the FIFA World Cup games.According to...Nearly 54 percent of the waste has been converted into compost, 22 percent into plastic, 14 percent into paper and cardboard, and 8 percent into glass
She said the climate change issues and the optimal utilization of natural resources are among the top priorities of the Sustainability Department at the SC
Sustainability key for next-gen data center models
At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about...At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about 3 percent of the world’s electricity usage
Data centers must operate as efficiently and sustainably as possible to eliminate any potential harm to the environment.
What 2023 has in store for the GCC auto industry?
A number of other things will also influence the auto industry this year. The most obvious being the expectation of...In 2022, customers across the GCC faced issues in availability of vehicles, restrictions on configurations and delays in those vehicles once orders were placed
The semi-conductor crisis is far from completely resolved and will impact the auto industry in the GCC and the rest of the world in 2023
