CBDCs, DeFi and AI boost FinTech innovation in GCC
The GCC's FinTech sector is booming with CBDCs revolutionizing cross-border transactions and a surge in innovations boosting financial inclusivity, efficiency,...Business Banking & Finance
Arab Bank Group net profit $829.6m
The Group posted a 52% increase in net income compared to 2022.Company News Business
Halal tourism eyes recovery as COVID-19 norms ease
The recovery process of the sector remains fragile and could be disrupted by the ongoing war in Ukraine, fuel price...The recovery process of the sector may get disrupted by the ongoing Ukraine war, fuel price rise, and other potential health threats, say experts.
The pre-pandemic projection of 230 million arrivals by 2026 will now be reached in 2028 with an estimated expenditure of USD$225 billion, they add.
UAE industry leaders attend program on AI industry applications
The second edition of Industry 4.0 and AI for Industrial Leaders that saw the participation of industry leaders in the...The Industry 4.0 and AI for Industrial Leaders is collaboration between Ministry of Industry and Advanced Technology and Mohamed bin Zayed University of Artificial Intelligence.
The program provides decision makers with the necessary technical knowledge to harness the power of AI in industry by determining optimum 4IR adoption strategies.
Venezuelan President calls on Qataris to invest in his country
President of Venezuela Nicolas Maduro, called on Qatari businessmen to invest in his country, to enjoy the benefits offered by...President of Venezuela Nicolas Maduro reviewed opportunities for tourism and investment cooperation
Maduro said his government has developed plans to promote 18 vital sectors for the economy
UAE highly values intellectual property system, fosters innovation: Al Marri
The UAE attaches great importance to developing the intellectual property (IP) system and encouraging innovators and creators and the country...UAE Minister of Economy Abdullah bin Touq Al Marri stated this during meetings with World Intellectual Property Organisation, UNCTAD, WEF officials.
The meetings were held on the sidelines of the UAE's participation in WTO's 12th Ministerial Conference (MC12) held recently in Geneva, Switzerland.
Staff shortages and strikes threaten pandemic recovery for airlines
Desperate to put the coronavirus pandemic behind them, airlines will hold talks on Sunday ahead of a potential summer of...In the past few weeks, delays and cancellations caused by a lack of staff at airports and strikes for better pay have wreaked havoc upon travellers.
In terms of Revenue Passenger Kilometres (RPKs), a measure of total distance flown by paying passengers, activity in April reached 62.8 percent compared with the same month in 2019
Abu Dhabi Ports, National Marine Dredging Company set up JV
The Abu Dhabi Ports Group inks deal with National Marine Dredging Company Group to set up a JV to conduct...AD Ports Group, NMDC Group to set up a JV to conduct offshore surveys and subsea services
The JV firm will offer geophysical and geotechnical, trenching and dredging support services
UAE’s gender diversity policy sees more women in board positions
In 2020, women held 3.5 percent of all board positions in the UAE. The next year, the Securities and Commodities...Aurora50, a social enterprise working towards gender parity in GCC boardrooms, and Mohammed Bin Rashid School of Government have conducted first-of-its kind gender diversity study.
The study report said 77 of the 868 board seats from the 115 listed companies on the ADX and Dubai Financial Market are now held by women.
Musk sued for $258 bn over dogecoin promotion
An investor in dogecoin, originally created as a joke but whose value increased and fell as it was promoted by...Since Musk began promoting the virtual currency, investors have lost around $86 billion, Keith Johnson, an investor, estimates
Founded in 2013, dogecoin's creators say it was intended as an ironic response to two big internet phenomena: cryptocurrencies, and a meme image of a Shiba Inu dog
Gazprom defends gas cuts as energy prices soar
Gazprom CEO Alexei Miller said that Moscow will play by its own rules after cutting daily gas supplies to Germany...Gazprom CEO Alexei Miller said that Moscow will play by its own rules after cutting daily gas supplies to Germany and Italy
Italian energy giant Eni also reported problems, saying it will receive only 65 percent of the gas requested Thursday from Gazprom
Investments, innovations help MENA smart cities grow
Intelligent transportation system, speedy 5G deployment and heavy investment in AI are pushing region's smart city growth, says Omar Christidis,...Saudi Arabia alone has plans to invest $36 billion in transportation infrastructure projects over the coming 11 years
Around 83 percent of the Saudi population lives in urban areas, and urbanization is expected to grow to 97.6 percent by 2030
