Aramco injects $4 billion into its global venture capital arm
Dhahran, Saudi Arabia -- Aramco has allocated an additional $4 billion to its global venture capital arm Aramco Ventures, more...Business
Mawani reports rise in container handling
The growth aligns with the aims of national logistics strategy.Business Economy
Evergrande to sell stake
The developer would sell the Crystal City Project in Hangzhou for 3.66 bn yuan.Its total liability is now $300 billion as the company has struggled to repay its investors and bondholders.
The company has said said it would finish projects and deliver them to buyers in a desperate bid to salvage its debts.
German businesses urged to explore investment opportunities in Sharjah
The Sharjah Chamber of Commerce and Industry (SCCI) has called on German businessmen and investors to explore investment opportunities within...A German business delegation attended a forum organized by the Sharjah Chamber of Commerce and Industry.
Gulf Cooperation Council (GCC) countries are the seventh-largest export destination for German industry outside Europe.
Dubai Municipality to tap into Metaverse gains in pursuit of futuristic goals
Dubai Municipality will work with private sector companies and investors to create a futuristic, human-centered version of the city that...As the next big market opportunity, the metaverse could provide nearly US$800 billion in revenue by 2024, Bloomberg Intelligence estimates show.
The city would provide simulated time travel to historic moments, or immersive tours of landmark destinations, Dubai Municipality said.
Opponents bury FIFA’s biennial World Cup campaign
The biennial World Cup has been left off the agenda of FIFA Congress in Doha, with only changes to the...An idea to enlarge Europe's League of Nations to take in South American countries has also been mooted.
FIFA launched a massive campaign to persuade its members that a World Cup every two years would bring them extra cash and prestige.
UAE’s first crypto exchange BitOasis gets provisional nod from VARA
BitOasis, a UAE-based Virtual Asset Service Provider (VASP), said on Wednesday it has received provisional approval from Dubai’s Virtual Assets...In the meantime, the company said it will undertake the process of applying for a license in accordance with the VARA requirements.
To date, the company has transacted over $4bn in virtual asset transactions on its platform, with approximately $1.7bn being transacted in 2021.
$1.59 bn worth of deals signed on Day 3 of Global Entrepreneurship Conference
On the third day of the Global Entrepreneurship Congress (GEC) in Riyadh, SAR 6 billion ($1.59 bn) worth of agreements...The Small and Medium Enterprises Financing Guarantee Program “Kafalah" signed a number of agreements with a number of ministries as well as public and private sector institutions.
Monsha'at) also signed various cooperation agreements and launched National Industrial Development and Logistics Program “Thousand Mile” Initiative.
Hackers steal over $600m in major crypto heist
Sky Mavis, maker of battle and trading game Axie Infinity, discovered the security breach on Tuesday, March 23, after a...Ronin Network, investigating the hack, said the attack targeted its blockchain and netted 173,600 ether and $25.5 million worth of stablecoin
The digital cash heist was initially valued at $545 million, but reached the value of $615 million based on prices on Tuesday, March 30
Dubai summit highlights future to governments
This year’s summit has brought together 190 countries, over 500 speakers, and 4,000 participants worldwide to discuss the future of...The summit’s topics focused on policies that drive progress and government development, sustainability, and future technology
The Investopia Summit was launched as part of the WGS 2022 to improve global economic and investment sectors
Ericsson board censured for graft
Shareholders sanctioned it for alleged payments to terror groups.Ericsson has been under scrutiny after a media investigation coordinated revealed that an internal probe from 2019 was never made public
The internal probe had identified possible corruption in 2011-2019 in the group's Iraqi operations, including the potential payment of bribes
Artificial intelligence will add $10 trillion to global economy: IBM CEO
Greater adoption of AI in the UAE could also add up to $200 billion in productivity gains by 2030, he...Arvind Krishna, Chairman and CEO of IBM, was speaking at the World Government Summit 2022
He warned that the planet lacks skilled people to keep up with the pandemic-induced disruptions
