QatarEnergy signs LNG deal with Petronet
QatarEnergy will supply 7.5m tons of LNG per year to Petronet.Company News Business
WEF24: Understanding regional nuances key to success
Industries are increasingly investing in transformative technologies, including cybersecurity, sustainable solutions and AI, Sapthagiri Chapalapalli tells TRENDS in an interview.Business Tech & Media
UAE tycoon slams bogus listicles
Forbes recently published Top 10 Richest Arab billionaires list and was criticized for ignoring many nationalities and known wealthy businessmen.Forbes recently published “Top 10 Richest Arab billionaires” list and was criticized for ignoring many nationalities and known wealthy businessmen
Egyptian billionaire businessman Nassif Sawiris with $7.7 billion topped the Forbes list, followed by Algerian Yassaad Rabab and family at $5.1 billion
AI plays crucial role in GCC’s economic progress
Artificial Intelligence, wired into the economic plans of many GCC countries, is likely to contribute 12.4 percent to Saudi GDP...The Middle East is expected to accrue US$320 billion of the total global benefits of AI in 2030
AI is expected to contribute over US$135.2 billion in 2030 to the Saudi economy
Dubai issues 24,662 new business licenses in Q1 2022
Dubai has issued 24,662 new business licenses in Q1 2022, a report by the Department of Economy and Tourism (DET)...A DET Business Registration and Licensing report said 57 percent of the new business licenses issued during Q1 2022 were professional and 43 percent commercial.
A total of 136,034 business registration and licensing transactions were completed during Q1 2022, a growth of 36 percent compared to Q1 2021.
India’s Taj Group eyes Gulf expansion, to build hotel in Makkah
The luxury hotel chain is planning 15 new hotels in the next 10 years, which include at least 5 new...The luxury hotel chain has planned 15 new hotels in the next 10 years
This includes at least 5 new properties in Dubai and a new hotel in Makkah
President of Jordan Chambers praises reforms to boost business
President of the Jordan and Amman Chambers of Industry Fathi Jaghbir said Saturday that the National trade window to facilitate...Trade facilitation window had helped to reduce the time for clearance and boost the competitiveness of sectors, he said
Single window for trade carries out the logistical measures of the Customs Department and other entities on clearance and export
Real estate trade volume in Amman $1.6 billion by March end
The total real estate trading volume in Jordan by the end of March reached JD 1.414 billion ($1.6 billion). The...Iraqi investors ranked first with a total of 202 real estate sales and Saudi second with a total of 194 sales among non-Jordanian investors.
Real estate sales in Amman were distributed over 6,077 apartments and 8,265,000 plots of land.
Almarai posts $112m profit in Q1
The Saudi dairy company recorded 9% jump in net profit.The Saudi dairy giant posted the jump in profit for the first quarter of 2022 on the back of higher revenue
Results were attributed to a hike in revenue of 23.6 percent and gross profit of 7.8 percent, even as selling and administration expenses went up
Abu Dhabi grants Binance approval to operate in emirate
Abu Dhabi has allowed Binance, the world’s leading blockchain and cryptocurrency infrastructure provider, to operate as a broker-dealer in virtual...The company has received approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM)
Upon the successful completion of its ADGM FSRA application, Binance will then be able to offer its services regarding virtual asset offerings to customers across the MENA region
First private mission reaches International Space Station
Axiom sees the voyages as the first steps of a grander goal: to build its own private space station. The...NASA join hands with Axiom and SpaceX to focus on more ambitious voyages deeper into the cosmos
ISS will carry out 25 research projects, including an MIT technology demonstration of smart tiles
GCC keeps pace with global solar, wind trends
Countries like the UAE, Saudi Arabia, and Oman appear on track to take giant strides in diversifying their portfolios when...Across the greater MENA region, Yemen, Jordan, Turkey, and Morocco have generated more than 10 percent of their power from solar and wind
However, things appear poised to change very soon, with several projects that may improve the region’s overall renewable outlook
