In Davos, AI excitement persists but fears over managing risks
A recent IMF report said AI would affect nearly 40 percent of jobs around the world, and some 60 percent...Business Economy Geostrategy Global Tech & Media
Middle East needs strong Saudi Arabia, says kingdom’s finance minister
Dubai, UAE-- Saudi Arabia's Finance Minister Mohammed Al-Jadaan said the Middle East needs a strong Saudi Arabia to contribute and...Business Economy
Nahdi Medical to list on Tuesday
The company's listing will be the biggest since Aramco.With an offer price of SR131 ($35), Nahdi had raised $1.36 billion from its initial public offering, slightly higher than the $1.2 billion sold by ACWA Power a year earlier
The Jeddah-based pharma retailer currently operates over 1,150 pharmacies across the Kingdom and a rising number in the UAE
Gas production begins at Pegaga
The production started by Abu Dhabi-based Mubadala Petroleum.Pegaga will be a key producing field supplying gas to PETRONAS LNG Complex, in Bintulu, Sarawak, Malaysia.
Mubadala Petroleum has been present in Malaysia since 2010 and is the Operator of Block SK 320 with a 55 percent stake.
ADX embraces FTSE Russell’s Industry Classification Benchmark
The Abu Dhabi Securities Exchange (ADX) has decided to embrace FTSE Russell’s Industry Classification Benchmark (ICB) for all its listed...The introduction of the ICB is part of the transition of ADX indices to the co-branded FTSE ADX index series, under the strategic partnership between FTSE Russell and ADX
The partnership between FTSE Russell and ADX is aimed to develop co-branded indexes and will support the recent launch of ADX’s derivatives market
Licensed firms and SMEs account for bulk of AFZ procurement
Licensed companies and small and medium enterprises (SMEs) accounted for 51 per cent of Ajman Free Zone’s total procurement of...Ajman Free Zone covered 27 per cent of the total purchases and contracts of SMEs alone during the same year.
The Free Zone's procurement policy benefits investors and business owners from more than 165 countries, said Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of AFZ Board.
Salalah Free Zone inks $3.9m deals
The projects will be set up in the Mazaya warehouses.The first agreement is on the establishment of a complex for the trade of plastic products
The second agreement is to establish a complex to assemble communications equipment
India pitches for collaboration with GCC in steel sector
"As part of the Steel Week, one-to-one meetings were held with leading players in steel production and logistics industries based..."One-to-one meetings were held with leading players in steel production and logistics industries based in the UAE," the Indian Ministry of Steel said in a statement
The Indian government has recently launched a flagship scheme for specialty steel called Production-Linked Incentive
New UAE app predicts which cheque will bounce
ChequeScore is an app released by the UAE government-owned Al Etihad Credit Bureau, and can predict the possibility of a...The UAE issued 21 million cheques in 2021, with an average value of $13,900
Despite the recent decriminalization of cheque bounces, UAE businesses must still consider the risks connected with them
Evergrande halts trading again
Evergrande and all its units halted trading in Hong Kong on Monday.On Monday, the company announced that trading would be ‘halted’, bit did not give a reason
Shares of Evergrande Property Services Group and China Evergrande New Energy Vehicle Group were suspended
Zain Group signs MoU with Huawei
Zain Saudi Arabia launched the largest 5G network in the region.The two entities will also work together to define autonomous driving network-level criteria and explore new use cases.
Zain Kuwait’s 5G data traffic already accounts for 46 percent of its total wireless traffic.
Houthi drone attack causes ‘temporary reduction’ in Saudi oil
Top crude exporter Saudi Arabia announced a "temporary reduction" in oil output at a facility run by energy giant Aramco...The Iran-backed Houthis, against whom Saudi Arabia leads a military coalition in Yemen, have repeatedly targeted the kingdom, including Aramco's sites
The latest round of attacks comes after an oil refinery in the Saudi capital Riyadh was targeted on March 10 by a drone, an operation claimed by the Huthis
