European Union probes UAE oil giant’s purchase of Germany’s Covestro
Brussels, Belgium -- The European Commission on Monday announced an investigation into the takeover of German chemical firm Covestro by...Business
DP World mobilizes $1 billion in working capital to boost trade flow
Dubai, UAE — DP World Trade Finance has mobilized more than US$1 billion in working capital to support businesses across...Business
Qatar real-estate trading volume in January stands at US$521m
Doha, Qatar--The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry...According to a bulletin issued by the Ministry of Justice, some 362 real estate transactions were recorded during the month
The value of Doha municipality's transactions came out at $324 million, as per the real estate market index for January 2024
Aamal net profit up 5.7%
Its gross profit jumped 3.1% to US$137.25m in 2023.According to a company's statement. Its gross profit shot up 3.1 percent to $137.25 million.
Its chairman said the performance of their trading and distribution segment was noteworthy
GCC emerges as a cryptocurrency investment hub
Driven by government initiatives, economic diversification and a tech-savvy population, the region is becoming a prominent center for cryptocurrency investment,...Driven by government initiatives, economic diversification and a tech-savvy population, the region is becoming a prominent center for cryptocurrency investment, says an expert.
Hao Yang of Bybit highlights the sector's regulated nature, its accessibility beyond tech-savvy individuals, and the importance of education and due diligence behind its growth.
Saudi holdings of US Treasuries surge to $131.9b in December 2023
ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...The Kingdom maintained 16th place among the largest holders of US treasury securities for December.
Saudi Arabia’s holdings of US Treasuries were distributed among long-term and short-term bonds.
HMG 2023 net profit $544m
The rise was due to the hospitals and pharmacy segments.The increase in net profit came as revenues edged up 14.41 percent year-on-year (YoY) to US$2.5 billion (SAR 9.5 billion).
Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 18.49 percent YoY to US$666 million (SAR 2.5 billion).
OpenAI valued at $80bn in new deal
With this deal, the value of the firm has tripled in 10 months.The deal would have the San Francisco-based firm selling existing shares to investors led by Thrive Capital
The tech firm led a revolution in artificial intelligence when it placed its ChatGPT program online in late 2022
Saudi Arabia aims to build ties with Canada in scientific and research fields
Riyadh, Saudi Arabia-- Saudi Arabia is exploring investment opportunities in education and aiming to attract investments to the kingdom from...The Saudi education minister explored investment opportunities in education, besides seeking to foster scientific and research collaboration between the two countries
The visit of the Saudi delegation also looked to consolidate the partnerships between the kingdom's ministry of education and Canadian universities and colleges.
Zero trust remains an ongoing cybersecurity evolution
Achieving Zero Trust Data Resilience is not an overnight task but a journey requiring organizational alignment, continuous adaptation, and the...Zero Trust is a mindset, not a destination, requiring continuous evolution in cybersecurity practices.
Cybersecurity is an arms race, with the need to adapt and evolve to remain ahead of online threats.
Lebanon judge charges Nissan employees for allegedly stealing Ghosn documents
BEIRUT, LEBANON - A Lebanese judge has charged four Nissan employees with the theft of documents and devices from the Beirut...A lawyer for the company said that the legal action was "unlawful" and that they would seek to have the charges thrown out.
The Beirut judge has decided to prosecute "four senior Nissan officials" of Japanese, Spanish, French and British nationalities.
35 Jordanian companies to participate in Gulfood 2024 in Dubai
AMMAN, JORDAN – A total of 35 Jordanian companies are taking part in Gulfood 2024, the world's largest annual food...The Jordan Exporters Association is coordinating the country's participation in the event.
JEA is coordinating local participation in the exhibition for the 20th consecutive time.
