Chinese auto giant BYD to integrate DeepSeek, broaden self-driving tech
BYD will install its "God's Eye" autonomous driving system in at least 21 models, including the Seagull budget hatchback priced...Business
Exclusive: Green investments lead to tangible returns, says WEF’s Philips
Public-private partnerships are essential for advancing sustainable urban development and meeting net-zero targets, Vivian Brady Phillips, Head of Strategic Initiatives,...Business Economy
SAIF Zone signs MoU with Tokai Optical
The Japanese firm will lease a warehouse in the free zone.The leasing of the warehouse marks the first phase of Tokai Optical's expansion in SAIF Zone, representing an investment of around $2.17m
The firm figures among the top 5 lens manufacturers worldwide and is positioned among the top 3 companies in research and development
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,...The GCC's FinTech sector is booming with CBDCs revolutionizing cross-border transactions and a surge in innovations boosting financial inclusivity, efficiency, and accessibility.
In the Middle East, unique dynamics in decentralized finance and cryptocurrencies, coupled with a projected 25% annual growth in open banking, are driving financial innovation.
Dubai RTA awards US$95m contract to upgrade ticketing system
DUBAI, UAE - Dubai’s Roads and Transport Authority (RTA) has awarded a contract to upgrade the existing nol (card-based ticketing...The aim is upgrade the existing card-based ticketing system to an account based ticketing system, aligning with the top global practices.
It seeks to develop a flexible and 100 percent scalable digital infrastructure, ensuring 100 percent fintech integration in mobility solutions.
KACST, ACWA Power sign pact
The aim is to develop technologies for clean energy.The center will conduct studies, scientific research, and work to attain technical development in clean energy and water sector.
It will also work in developing solar energy technologies, energy storage technologies to support future energy networks.
Saudi Arabia launches global tourism campaign featuring Messi
Riyadh, Saudi Arabia -- Saudi Arabia's national tourism brand, "Saudi Welcome To Arabia," has launched a new global marketing campaign...The campaign, called "Go Beyond What You Think," aims to address misconceptions about Saudi Arabia and encourage people to experience the country's cultural transformation.
The campaign launch coincides with Messi's upcoming return to Saudi Arabia, where he will play two matches with his club, Inter Miami, against Al Nassr and Al Hilal.
Dubai launches initiative to accelerate global expansion of SMEs
Dubai, UAE -- Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Sunday launched the ‘Dubai International Growth...The AED500 million initiative was launched by the Government of Dubai in partnership with Emirates National Bank of Dubai (Emirates NBD).
Emirates NBD will provide financing to eligible companies at competitive rates, charging the Emirates’ Interbank Offered Rate (EIBOR) with no additional margin.
Arab Bank Group net profit $829.6m
The Group posted a 52% increase in net income compared to 2022.Total Assets grew by 6 percent to reach $68.3 billion and loans grew by 5 percent to reach $37.1 billion.
The Board has recommended to the shareholders the distribution of 30 percent cash dividends for the financial year 2023.
SIB, Noqodi sign agreement
The Noqodi platform will enable digital payments.This pact aims to improve digital and electronic payment offerings available to SIB's corporate and individual business customers.
SIB's business clients will gain access to a broader range of digital payment solutions for seamless fee payments across various products.
Aldrees Petroleum to hike capital by 33%
The company's capital now stands at US$266 milion.The company's board took the decision a few days back, expected to enhance its financial robustness and propelling it towards future expansions
The hike in capitalization has been secured from the retained earnings, reflecting the company's strong financial standing and prudent management
Egypt’s wheat and oil reserves sufficient for several months, says minister
Cairo, Egypt-- Egypt has enough reserves of wheat to last it for many months, according to Dr. Ali Al-Moselhi, the...The minister said that 100 tonnes of sugar have been produced from the cane crop so far, and that preparations are underway to receive the beet crop in mid-March
The country purchases around five million tonnes of wheat annually from abroad, and subsidised bread is available to more than 70 million of its 104 million population
