WEF24: GenAI poised to revolutionize energy sector
The GCC -- with countries such as Saudi Arabia, the UAE, Kuwait, and Qatar -- plays an important role in...Business
Qatar records real estate deals worth $100 million in five days
Doha, Qatar -- Qatar has recorded real estate transactions worth 378 million QR ($100 million) during the 21-25 Jan 2024...Business
UAE announces new incentives to support emirati SMEs
The new incentives include classifying up to five enterprises under Tier 1 category per owner, instead of two enterprises, and...The enterprises that will benefit from the new incentives have to be members of accredited funds and programs that support SMEs in the UAE.
Empowering SMEs is a strategic priority within the nation’s continuous efforts to develop the business sector in the UAE, said Khalil Al Khoori, an HR official.
Ajman Chamber discuss economic ties with Mexican envoy
Director-General of the Ajman Chamber of Commerce and Industry (ACCI) Salem Al-Suwaidi received Ambassador of Mexico to the UAE Luis...The meeting between DG of Ajman Chamber and Mexican ambassador took place as part of the Chamber's efforts to diversify its external partnerships
The two sides discussed economic cooperation and explored trade and investment opportunities between the two countries
71 varieties displayed during Onaizah International Dates Season
More than 71 varieties of dates were on display in the auction arena of the Food City during the Onaizah...The most common and sought-after types are Khalas, Barhi, Majdoul, Khodari, and Sukkari. Al-Hamra, Aseelah.
The health of dates is checked in the municipal laboratory and ascertained through control tours.
DP World H1 net profit $721m
Growth was supported by higher revenue from acquisitions.The global port operator said this was a 51 percent year-on-year and added that it expects growth rates to moderate for the rest of the year.
The company said its H1 revenue was $7.93 billion, a rise of 60 percent, supported by acquisitions, strong performance of feedering services and growth in high margin cargo.
Al-Othaim posts $37m profit
The retailer said the profit soared due to growth in sales.The retailer said that its share in the profit of its associate Gulf Flour Milling Co. boosted this period’s results, as it was not recorded in the prior year
The company incurred higher costs from opening new stores and enhancing competencies in senior positions
G42 launches $10bn technology growth fund
The fund, to be managed by a subsidiary of G42, will invest in late-stage growth companies with disruptive technologies and...The fund will invest in late-stage growth companies with disruptive technologies and strong business fundamentals
It will operate as a private equity investor, with a significant share of investment earmarked for high growth regions
TikTok rolls out plan to fight US election misinformation threat
TikTok will use automated systems and human fact-checkers to assess the accuracy of content, prompting users to "reconsider" sharing posts...TikTok has rolled out an "Elections Center" that will help users know how and where to vote
According to a recent Pew Research report, the social media giant has emerged as a top social media platform for US teens
Saudi jewelry sector records 36 percent sales jump in Q2
The gold and jewelry sector in Saudi Arabia has recorded a 36 percent growth in sales as the economy shows...The kingdom has also seen an upsurge in consumer spending in the second quarter exceeding $33 billion with an annual growth rate of 7 percent
Referring to data issued by the Jazan Chamber of Commerce, the report said the gold and jewelry sector was followed by clothing and footwear, which grew by 24 percent
Demand boost, price rise lift profits of Gulf oil firms
GCC countries have witnessed financial surpluses in their budgets for the first time in a long time on the back...GCC countries have witnessed financial surpluses in their budgets for the first time in a long time on the back of increase in oil prices, strengthening their credit ratings
Saudi Arabia, the largest OPEC producer, is among the first to benefit from the surge in oil prices and an increased demand, with a $21 billion surplus in the first quarter
UAE scores high in 11 best expatriate destination parameters: Survey
The UAE has exceeded international figures in 11 indexes on the best expatriate destinations based on various factors, which include...German research firm InterNations said UAE achieved advanced positions in four key pillars and 11 indexes, out of five pillars and 17 indexes.
About 94 percent of those surveyed felt safe in the UAE while the global rate was under 81 percent.
