Demand for lifestyle experiences in GCC has increased: SHG CEO
Dubai, UAE -- Sunset Hospitality Group (SHG) is more than just a collection of hotels, restaurants, and beach clubs. Renowned...Business
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
Startups in UAE capitalize on corporate reforms
New corporate laws and business-friendly policies give start-ups an upper hand in the UAE as they are predominantly created and...Corporate reforms will make more people try entrepreneurship in the UAE, say businesspersons
The UAE recognizes that high levels of technical skills proficiency are essential to thrive in the digital economy
Al-Dawaa starts trading on TASI
The pharmacy chain operator collected $500 million from shares buyers.The operator of one of Saudi largest pharmacy chains, Al-Dawaa offered 25.5 million shares in an initial public offering, representing 30 percent of capital.
Al-Dawaa operates a network of pharmacies with over 800 outlets across 130 cities in Saudi Arabia. It posted a revenue of about 5 bn riyals ($1.3 bn) and profit of 246m
India Paytm shares crash on news of regulatory ban, CEO arrest
Paytm shares nosedived 13 percent Monday after Indian regulators banned the beleaguered payments platform from enrolling new customers and reports...The firm enjoyed India's biggest-ever initial public offering four months ago, with the backing of Chinese tycoon Jack Ma's Ant Group and Warren Buffett's Berkshire Hathaway
India's central bank demanded Paytm immediately stop enrolling new customers on Friday and ordered an audit of its IT systems
Instagram no longer accessible in Russia
The move comes after Facebook and Twitter were blocked in early March as part of sweeping efforts by Moscow to...The move comes after Facebook and Twitter were blocked in early March as part of sweeping efforts by Moscow to control information available to Russians
Instagram appeared Monday on a list of "restricted" online resources on a list published by Russia's media regulator Roskomnadzor
