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...Business Markets
AI in the Middle East: From potential to profit
The region is making significant strides in integrating AI into various sectors, promising substantial productivity gains and innovation, a latest...Business
Aramco expected to post $44bn profit in Q2: report
Al-Rajhi Capital which has analyzed the performance of all industrial sectors expects Saudi-listed companies to see mixed earnings in Q1...Al-Rajhi Capital which has analyzed the performance of all industrial sectors expects Saudi-listed companies to see mixed earnings in Q1 2022, amid rising oil prices
The profit of the chemical giant Saudi Basic Industries Corp’s (SABIC) is forecast to slightly slip by 1 percent to SR7.6 billion
Tokyo stocks rise on back of US Fed resolve to fight inflation
Tokyo shares opened higher Thursday after minutes from a Federal Reserve meeting showed that US central bankers are determined to...The benchmark Nikkei 225 index rose 0.69 percent, or 179.41 points, to 26,287.06 in early trade, while the broader Topix index advanced 0.76 percent, or 11.15 points, at 1,867.12
The Tokyo market benefited from the overnight gains on Wall Street, but some investors might refrain from making major moves ahead of a national election this weekend
Fuel prices drive demand for hybrid vehicles in UAE
While some buyers are opting for smaller compact SUVs and electric vehicles, others are putting their purchase decisions on hold...UAE fuel prices jumped around 75 percent since January 2022. Super 98 petrol price increased to Dh4.63 ($1.26) per liter in July 2022 compared to Dh2.65 per liter in Jan 2022.
Rising petrol prices in the UAE are pushing small businesses and private individuals to switch from vehicle ownership to rentals.
New multilateralism likely to define global trade in 2022: DMCC report
Global trade hit a record high of $28.5 trillion in 2021, with more growth expected in 2022. The future also...Geopolitics will shape the trade landscape in the 2020s, building on new developments in regionalism, bilateral trade, and global investment flows.
Pent-up demand from the COVID-19 shock is already driving trade in goods; a rebound in trade in services is set to follow.
Emerge, Miral to install solar energy at Abu Dhabi theme park
Emerge and Miral signed an agreement to deploy on-site solar energy systems at the SeaWorld Abu Dhabi theme park on...The project will have a capacity of 8.2 megawatts (MW) with rooftop solar photovoltaic (PV) systems installed at the theme park.
Emerge will provide a full solution including design, procurement, and construction, as well as operation and maintenance services.
European stocks bounce back after sharp losses on global recession fears
European stock markets rebounded on Wednesday, recovering some ground following sharp losses the previous session on fears of a global...London's benchmark FTSE 100 index was up 1.8 percent around midday and the pound was mixed against main rivals.
Crude futures had slumped nearly 10 percent Tuesday, while Europe's main stock markets lost about three percent.
Sri Lanka appeals Russia for fuel and resumption of tourist flights
Sri Lanka is facing its worst economic downturn since it gained independence from Britain in 1948.The Island nation has suffered months of blackouts, rampant inflation and critical shortages of food and petrol.
Russia and Ukraine were among the top sources of tourists for Sri Lanka before February's conflict began.
Tabadul: GCC region’s first digital exchange hub launched
Based on the mutual market access model, Tabadul will allow investments across Bahrain Bourse and Abu Dhabi and enable investors...Tabadul will be accessible to all investors registered with eligible local brokers and who have filled out the requisite KYC documents required by exchange in their countries.
Securities on Tabadul are traded in respective exchange’s local currency, and in specified currency of the traded asset for some cases, with no minimum amount required for orders.
AD Ports Group, SEG sign MoUs
A logistics and freight business and food trading hub will be built in Uzbekistan.The logistics venture will deploy new technology and specialised processes to address the challenges caused by Uzbekistan's double-landlocked geographical location.
Based upon the 'Regional Food Hub – Abu Dhabi' currently under development in KIZAD, AD Ports Group will share their expertise towards the food trading hub.
GCC central banks should hike rates to combat inflation: L’AZURDE CEO
Inflation is an opportunity for a company to review strategically the portfolio of plans it offers, says L'azurde CEO.Inflation is an opportunity for a company to review strategically the portfolio of plans it offers, CEO L'azurde said
Companies, he said, should review costs from A to Z, from employees to manufacturing, automation and investment in technology
