European market up on record-busting Wall Street
A surge in tech titans including Apple, Amazon, Nvidia and Facebook parent Meta on Friday pushed New York's S&P 500...Business
Threat of AI-powered phishing is on the rise
"Technologies such as Generative AI presents new security challenges. The rise of automated spear phishing necessitates reevaluating our trust heuristics....Business
Resilience in PE market may open new opportunities
Despite the uncertainty, many PE firms are adapting and keen to point to their funders’ patience and understanding in what...The global private equity market is now worth over $4 trillion, says a latest report
Private equity needs to negotiate the current COVID-19-induced economic crisis.
Saudi, Kuwait to develop gas field despite Iran complaint
Saudi Arabia and Kuwait will develop a disputed gas field despite Iranian objections, while urging Tehran to engage in negotiations,...The two countries also issued a new invitation for Iran to negotiate over the boundary of the gas field
Tehran had earlier said that the deal contravened "previously held negotiations", adding that it "reserves its right to exploit" the field
Covid, digital transformation push GCC cloud growth
Businesses in the region are increasingly adopting cloud to protect their data, apps and infrastructure from fraudulent activities while supporting...Cloud computing can generate $202 billion from various sectors in Saudi Arabia by 2030
Rapid cloud adoption can generate up to $600 bn in recurring value in the MENA region
Jordan and Turkey’s Solvest company sign MoU to mine copper
Jordan and Turkey will jointly mine copper in Abu Khashaba Canyon and Ghor Fifa in Southern Jordan. Jordan’s Ministry of...The mining project will be implemented on a 20-km² plot of land after studies had shown large and concentrated quantities of copper ore.
During the MoU's one-year period, the company will conduct several mining and exploration studies to evaluate copper underground repositories.
Dubai Next expects increase in ‘fund seekers’
Dubai Next, the digital crowdfunding platform that has attracted many young innovators and start-up ideas, is anticipating an increase in...This follows the country approving a federal system for such platforms recently
Between the first three months and now, the campaigns have increased by 50 percent
Expo 2020 was a ‘truly remarkable World Expo’: Dimitri S Kerkentzes
Terming the hosting of Expo 2020 Dubai as a 'truly remarkable World Expo, Dimitri S Kerkentzes, Secretary-General of the Bureau...Secretary-General said "Expo 2020 Dubai became a beacon of unity and hope, one that reminded us of the importance of human solidarity and international cooperation"
He added: "It has shown that by connecting the world, we can explore the realm of infinite possibilities for the benefit of humanity"
KSA and Kuwait call on Iran to hold talks on divided gas field
Saudi Arabia and Kuwait have appealed to Iran to hold negotiations on demarcating the eastern boundary of the submerged Dorra...Both countries have previously invited Iran for negotiations, but there was no response from Iran
The field is expected to produce 1 billion cubic feet of natural gas per day with 84,000 barrels of condensate daily
ADQ invests in Egypt
The Abu Dhabi-based firm has an office in Cairo.These transactions are part of ADQ's commitment to investing in the country’s economic growth through its $20 billion joint strategic investment platform.
The transactions include stakes in Commercial International Bank (CIB), one of Egypt’s largest banks.
Iran sees windfall in Qatar World Cup
Iran is hoping to host visitors flocking to nearby Qatar for the 2022 World Cup finals, with officials boosting flights..."The Qataris are very interested in using Iran's infrastructure in the 2022 World Cup," Transport Minister Rostam Ghassemi told reporters on Tuesday
Visitors could apply for free single or multi-entry passes for 20 days during those two months
Sumou, Al Shabab sign contract
The Saudi real estate firm will develop club's land in Riyadh.The contract is for the purpose of leasing and investing the club’s land located on King Fahd Road and Olaya Road
Sumou will pay an annual rental fee of SR19.3 million
