China looks to woo back global elites at Davos forum
Prime Minister Li Qiang, who will make a special address on Tuesday, will be the most senior Chinese official to...Business
Aramco Digital, Intel to join hands
The aim is to help develop of Open RAN technologies.Company News Business Tech & Media
Qatar signs air services agreement with Jordan
The agreement is said to have been formally signed in Qatar’s capital city Doha.The Acting Chairman of Qatar’s General Authority of Civil Aviation, Mohammed Al-Hajri, inked the deal for his country
Jordan’s Civil Aviation Regulatory Commission CEO Haitham Misto signed the agreement on behalf of his country
Art sales hit all-time high in 2021, continue rapid growth in Asia
Art auctions saw a record year in 2021 with $17.1 billion (15.6 billion euros) in sales as the market continued...There was also the landmark moment when digital artist Beeple sold a NFT for $69 million, the third-highest figure ever paid for a living artist.
Contemporary art -- counted as anything created after 1945 -- accounts for a growing share of sales, with 20 percent of the market, up from 3 percent in 2000.
UAE e-commerce hits $5bn in 2021, may surpass $8bn by 2025
E-commerce in the UAE surged to over $5 billion in 2021 and is projected to surpass $8 billion by 2025,...More consumers in the UAE made online purchases across all categories during 2021, compared to 2020, with 75 percent of respondents typically purchasing online.
The UAE and Qatar are on top, with GDP-per-capita above $40,000 and internet penetration above 90 percent.
Digital art in spotlight as Dubai makes crypto bid
Art Dubai, the Middle East's largest annual contemporary art fair, has featured for the first time digital works, as the...This year, in its 15th edition, the three-day fair hosted more than 100 local and foreign art dealers
Local NFT platforms have welcomed the move as good for business, with crypto holders increasingly interested in digital art
NYU Abu Dhabi to host first Quantum Computing Hackathon
NYU Abu Dhabi (NYUAD) will host the region’s first-ever Quantum Computing International Hackathon with a focus on innovation, entrepreneurship, and...This year, more than 200 participants from more than 30 countries will convene at NYUAD and learn about quantum computing and quantum-based technologies
Experts from businesses including Microsoft, AstraZeneca, IBM, AWS and qBraid will also be represented and available as a source of mentorships to the participants
Irthi Contemporary Crafts Council focuses on palm fiber at Art Dubai
The 15th edition of Art Dubai which displayed findings of its advanced palm fiber research and palm textile prototype, paving...Irthi Contemporary Crafts Council, an affiliate of the UAE-based NAMA Women Advancement, explored UAE’s relationship with date palm.
It discussed how such local, environment-friendly materials could pave the way for the creation of a circular economy centered on palm waste.
Saudi Ports Authority posts 17.5 percent increase in cargo volume
Saudi Ports Authority has posted a 17.5 percent increase in its general cargo's volume of tons in 2022, compared to...The volume of tons has exceeded 24.4 million tons, while the number of transshipment containers has increased by 3.4 percent during that period
However, the global supply chain disturbance has led to a decrease in Saudi ports’ volume of foodstuffs by 2.05 percent — and a fall in the number of livestock by almost 63 percent
Sanad and Thales sign MoU
The two companies will collaborate on aviation services.Knowledge exchange will be a key focus under the terms of the agreement, and Thales will serve as a partner in diversifying Sanad’s business portfolio towards industrial services.
Sanad and Thales will work collaboratively on regional and international projects, wherein Sanad would lead on providing cutting-edge industrial systems.
Jadwa of Saudi Arabia launches a $800m real estate fund
Jadwa Investment of Saudi Arabia has launched a new Shariah-compliant real estate fund to the tune of $800 million. The...The Riyadh-based company, which provides asset management and financial advisory, partnered with Tatweer Group, NUMU Holding Co. and Riyad Bank to launch this closed-ended fund
The fund provides investors with a stable stream of income by investing in differentiated, income-generating properties in the Kingdom
Sadara Chemical Co. posts SR3.1bn profit
Sadara Chemical Co., a joint venture between oil major Saudi Aramco and US Dow Chemical Co., has posted a net...On the back of higher selling prices, the giant JV, specialized in producing a wide range of specialty chemicals, erased losses of SR3.2 billion sustained a year earlier
The 200-percent increase in profit was coupled with a rise in revenue of over 67 percent to as high as SR17.6 billion during the year
