stc net profit for 2024 $6.58bn
This is an increase of 85.7 percent over the previous year.Company News Business
Cyprus and Egypt sign deal to process, export gas to Europe
Nicosia, Cyprus -- Cyprus and Egypt on Monday signed an agreement with an energy consortium to export gas from the Mediterranean...Business Energy
Lebanon judge charges Nissan employees for allegedly stealing Ghosn documents
BEIRUT, LEBANON - A Lebanese judge has charged four Nissan employees with the theft of documents and devices from the Beirut...A lawyer for the company said that the legal action was "unlawful" and that they would seek to have the charges thrown out.
The Beirut judge has decided to prosecute "four senior Nissan officials" of Japanese, Spanish, French and British nationalities.
35 Jordanian companies to participate in Gulfood 2024 in Dubai
AMMAN, JORDAN – A total of 35 Jordanian companies are taking part in Gulfood 2024, the world's largest annual food...The Jordan Exporters Association is coordinating the country's participation in the event.
JEA is coordinating local participation in the exhibition for the 20th consecutive time.
Tech giants sign pact against AI-made political deepfakes
Under the agreement, AI-generated content could be given a watermark or tagged in the metadata at source, although the signatories...Among the 20 signatories of the deal, presented on the sidelines of the Munich Security Conference in Germany, were also X, as well as Snap, Adobe and Linkedin
The tech companies also said they would also work together to develop ways to "detect and address" deceptive election material on their platforms
Abu Dhabi Judicial Department’s Auction App generated $925m in property sales
Abu Dhabi, UAE - Since its launch in June 2022 through mid-February 2024, the Abu Dhabi Judicial Department's (ADJD) Auction...The statistics highlight the growing popularity and effectiveness of the ADJD Auction App as a platform for buying and selling various assets remotely.
Counselor Yousef Saeed Alabri, Undersecretary of the Judicial Department, said that the smart Auction App revolutionized the bidding process for seized property in judicial cases
Innovative building codes transform MENA construction
Two emerging construction processes gaining popularity, especially in the MENA region, are 3D printing of concrete structures and offsite construction....Building codes evolve to support clean energy, innovative methods, and circular economy principles.
Emerging technologies like 3D printing and offsite construction optimize efficiency and sustainability.
MENA startups optimistic despite funding fluctuations
In January 2024, MENA startup funding dropped 34% to US$ 86.5 million across 33 deals, with the UAE leading, followed...In January 2024, MENA startup funding dropped 34% to US$ 86.5 million across 33 deals, with the UAE leading, followed by Egypt's recovery and Saudi Arabia's steady input.
Last month's funding spotlighted travel, fintech, health, and mobility sectors, with Pre-Seed and Seed stages leading, underscoring strong support for early-stage startups.
Asian markets rally after Wall Street highs, oil prices slide
"The weakness of yesterday's US retail sales release have given market doves a new lease of life and allowed them...Wall Street had leapt Thursday after the US Commerce Department reported a larger-than-expected 0.8-percent decline in retail sales for January
London equities also jumped as investors drew comfort from a contrasting January rebound in UK retail sales, one day after gloomy news that Britain entered recession
NatWest profit soars 32%
The British bank's net profit jumped to US$5.5bn in 2023.The bank said that Paul Thwaite would become permanent chief executive in the wake of boardroom turmoil
Thwaite takes over from Alison Rose, who resigned as CEO in July after admitting a "serious error of judgment"
Mawani completes Red Sea Gateway Terminal at Jeddah Islamic Port
Riyadh, Saudi Arabia - The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah...The gateway terminal has larger capacity, is equipped with the Optical Character Recognition (OCR) feature, and uses 146 different types of equipment
The development of Jeddah Islamic Port’s North Container Terminal is included in the Build-Operate-Transfer (BOT) contract
Tenaris sets up base in Abu Dhabi
The global pipe maker invested US$60m in the business.The new complex is expected to generate technical and administrative job opportunities for UAE nationals
The newly built complex represents the first of its kind in the UAE to thread full-length premium connections
