Investment in Qatar free zones reaches US$1.3bn, says QFZ chairman
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...Business Economy Geostrategy
Mubadala invests in Manipal Health
Manipal Health offers multispecialty care through 30 hospitals.Company News Business
Dubai Municipality to tap into Metaverse gains in pursuit of futuristic goals
Dubai Municipality will work with private sector companies and investors to create a futuristic, human-centered version of the city that...As the next big market opportunity, the metaverse could provide nearly US$800 billion in revenue by 2024, Bloomberg Intelligence estimates show.
The city would provide simulated time travel to historic moments, or immersive tours of landmark destinations, Dubai Municipality said.
Opponents bury FIFA’s biennial World Cup campaign
The biennial World Cup has been left off the agenda of FIFA Congress in Doha, with only changes to the...An idea to enlarge Europe's League of Nations to take in South American countries has also been mooted.
FIFA launched a massive campaign to persuade its members that a World Cup every two years would bring them extra cash and prestige.
UAE’s first crypto exchange BitOasis gets provisional nod from VARA
BitOasis, a UAE-based Virtual Asset Service Provider (VASP), said on Wednesday it has received provisional approval from Dubai’s Virtual Assets...In the meantime, the company said it will undertake the process of applying for a license in accordance with the VARA requirements.
To date, the company has transacted over $4bn in virtual asset transactions on its platform, with approximately $1.7bn being transacted in 2021.
$1.59 bn worth of deals signed on Day 3 of Global Entrepreneurship Conference
On the third day of the Global Entrepreneurship Congress (GEC) in Riyadh, SAR 6 billion ($1.59 bn) worth of agreements...The Small and Medium Enterprises Financing Guarantee Program “Kafalah" signed a number of agreements with a number of ministries as well as public and private sector institutions.
Monsha'at) also signed various cooperation agreements and launched National Industrial Development and Logistics Program “Thousand Mile” Initiative.
Hackers steal over $600m in major crypto heist
Sky Mavis, maker of battle and trading game Axie Infinity, discovered the security breach on Tuesday, March 23, after a...Ronin Network, investigating the hack, said the attack targeted its blockchain and netted 173,600 ether and $25.5 million worth of stablecoin
The digital cash heist was initially valued at $545 million, but reached the value of $615 million based on prices on Tuesday, March 30
Dubai summit highlights future to governments
This year’s summit has brought together 190 countries, over 500 speakers, and 4,000 participants worldwide to discuss the future of...The summit’s topics focused on policies that drive progress and government development, sustainability, and future technology
The Investopia Summit was launched as part of the WGS 2022 to improve global economic and investment sectors
Ericsson board censured for graft
Shareholders sanctioned it for alleged payments to terror groups.Ericsson has been under scrutiny after a media investigation coordinated revealed that an internal probe from 2019 was never made public
The internal probe had identified possible corruption in 2011-2019 in the group's Iraqi operations, including the potential payment of bribes
Artificial intelligence will add $10 trillion to global economy: IBM CEO
Greater adoption of AI in the UAE could also add up to $200 billion in productivity gains by 2030, he...Arvind Krishna, Chairman and CEO of IBM, was speaking at the World Government Summit 2022
He warned that the planet lacks skilled people to keep up with the pandemic-induced disruptions
Qatar to invest $5bn in Egypt, with an eye on offshore gas
The move is being seen as another sign of a growing rapprochement between the two countries following last year's restoration...A Cairo statement said Qatar was to plough $5 billion in ‘investments and partnerships’ in Egypt, but did not give specifics
However, QatarEnergy announced an agreement with ExxonMobil to acquire a 40% interest in a gas exploration block off Egypt
DFM, DME to jointly explore financial products opportunities
The Dubai Financial Market (DFM) and Dubai Mercantile Exchange (DME) will jointly explore financial products opportunities following the signing of...The two exchanges are planning to create a working group, following Dubai’s strategy to further develop financial markets.
DFM plans to launch a new retail product derived from the Oman Crude Oil Futures, DME’s flagship contract that provides investors an opportunity to access this asset class.
