At 10% growth, Saudi banking sector shows resilience
With Vision 2030 steering the economic diversification, Saudi banks face challenges and opportunities in liquidity, asset quality, and navigating geopolitical...Business Banking & Finance
AI game gains popularity during Chinese New Year festivities
SHANGHAI, CHINA - Young Chinese flocking home for Lunar New Year this weekend have turned to an AI chatbot game to...Arts & Culture Business Culture & Society Tech & Media
Goldman Sachs Q3 profit at $3bn
The bank's revenues declined 12 percent to $12 billion.Profits were $3.0 billion, down 44 percent from the 2021 period, while revenues declined 12 percent to $12.0 billion.
The bank's chief executive, David Solomon, said that businesses should be "cautious" in light of increased volatility.
Poll: Most MENA users consider metaverse a fad
Nearly 32 percent of respondents to a TRENDS poll saw metaverse as a good investment for GCC businesses, as two...Saudi Arabia will spend US$6.4 billion on advanced technologies, including US$1 billion investment in the NEOM Tech & Digital Company.
In the UAE, Damac bets big on digital property. The Group plans to invest up to $100 million in the project, including building its own virtual cities.
Markets climb on bright US earnings, UK policy U-turns
Major global equities rose, with sentiment soothed after upbeat US earnings and Britain shredded its controversial budget. Analysts pointed to...US industrial production also picked up more than anticipated in September, according to official data.
On Wall Street, the Dow Jones jumped two percent at the open after a day of strong trading in Asia and Europe, before paring back gains later in the morning.
Abu Dhabi, Bangladesh to enhance trade, economic ties
The Abu Dhabi Department of Economic Development (ADDED), and Bangladesh Embassy in Abu Dhabi, have organized the Economic Cooperation Forum...Abu Dhabi and Bangladesh bilateral trade and mutual investments are on the rise.
The Emirate and Bangladesh have organized the Economic Cooperation Forum to enhance mutual investment opportunities.
Aldar, Abu Dhabi Residents Office to enhance Golden Visa services, offerings
Abu Dhabi, UAE-- The Abu Dhabi Residents Office, part of Abu Dhabi Department of Economic Development (ADDED), has signed a...They are working on developing a joint strategy to promote Abu Dhabi and its real estate projects besides identifying opportunities to support investors and talent.
The Office will support clients of Aldar when applying for a Golden Visa upon purchasing a property valued at more than AED 2 million ($544, 506) from Aldar’s projects.
Nord Stream probe tailored against Russia, says Kremlin
The Kremlin said that the investigation into the explosions that tore through the Nord Stream gas pipelines was being 'tailored'...Russia has accused Western countries of being behind the explosions of the pipelines.
Russia had earlier expressed bewilderment over its exclusion from an investigation into the incident.
Morocco supervisory authority approves Takaful Insurance Company
Rabat, Morocco---A Takaful insurance company will be established in Morocco by Qatar Islamic Bank, Atlanta Insurance and Moroccan Tourism and...The Atlanta Insurance Company will hold 60% of the shares, Moroccan Tourism and Real Estate Loan Bank 20% and Qatar Islamic Insurance Company and QIIB 10% each.
Takaful is Sharia-compliant Islamic insurance wherein members contribute money into a pool system to guarantee each other against loss or damage.
CBUAE issues commemorative coins on Tawazun’s 30th anniversary
The Central Bank of the UAE (CBUAE) in collaboration with the Tawazun Economic Council (Tawazun), has issued 1,000 silver commemorative...Tawazun was established in 1992 to create, build and manage industrial relationships.
The issuance of the commemorative coins aims to highlight the vital role of Tawazun.
Foxconn of Taiwan unveils more electric vehicle prototypes
The Taiwanese tech giant Foxconn has moved to diversify beyond electronics assembly and embraced the competitive but rapidly expanding EV...The world's largest contract electronics maker, Foxconn already plays a lynchpin role in assembling gadgets for a host of top international brands including Apple's iPhones
Foxconn has also started building electric vehicles for Lordstown Motors after completing its purchase of a former General Motors plant in Lordstown, Ohio in May
Aramco to build fabrication yards
The yards will more than triple Saudi offshore fabrication capacity.The new yards are being constructed in Ras Al Khair in collaboration with National Petroleum Construction Company (NPCC) and McDermott International.
They are expected to fabricate and assemble offshore platforms, jackets and structures for subsea pipelines.
