WEF24: GenAI poised to revolutionize energy sector
The GCC -- with countries such as Saudi Arabia, the UAE, Kuwait, and Qatar -- plays an important role in...Business
Qatar records real estate deals worth $100 million in five days
Doha, Qatar -- Qatar has recorded real estate transactions worth 378 million QR ($100 million) during the 21-25 Jan 2024...Business
World’s first robot citizen Sophia to attend Dubai audit conference
The humanoid robot Sophia, the world's first robot citizen, will arrive in Dubai on Tuesday, March 8, to participate in...Sophia will attend largest smart conference for internal auditors, the 20th Annual Regional Audit Conference from March 7- 9.
Sophia became the world's first robot citizen after Saudi Arabia granted her citizenship in October 2017.
Tadawul posts 17% jump in net profit to $157m in 2021
Tadawul Group has posted a seventeen percent jump in net profit to $157 million in 2021, according to a bourse...There was an 8 percent rise in revenue to SR1.17 billion during the year due to “solid growth in trading services, post-trade services
With strong earnings, the company’s board proposed an annual dividend payout of SR3 per share
Shurooq picks acting COO
It has appointed Ahmed Obaid Al Qaseer to the post.Al Qaseer is expected to continue the concerted efforts to achieve Shurooq’s vision of developing world-class projects
The new acting COO is also expected to bolster efforts to drive national and foreign investments into the emirate
Jordan inventors use TechWorks to realize dreams
TechWorks is a Jordanian platform aimed at bringing together youth, ideas and resources to jump-start innovations.Set up in 2018, TechWorks says its mission is ‘to plug into entrepreneurial and innovation ecosystems’ and turn ideas into reality
Affiliated with a foundation set up by Crown Prince Hussein, it is equipped with technology such as 3D printers
Russia threatens Ukraine ‘statehood’ as sanctions tighten
Since Russia's invasion 10 days ago, the economic and humanitarian toll of the war has spiraled, sending more than one...Russia has threatened a wider war if a no-fly zone is set up by any Western power
Ukraine has received weapons, ammunition and funds from its Western allies
Iran seeks barter trade with Pakistan to strengthen ties
The option of barter trade was available to cement the mutual relationship between Iran and Pakistan, an Iranian envoy has...The Consul General of the Iran has stressed the need for his country to sign a barter agreement with Pakistan
Hamid Reza Ghomi said he was eying such a deal between the Pakistan Chambers of Commerce and Iranian provinces
Umm Al Qura inks $800m deal
The project will see an investment of SAR3 billion ($800 million).The development of Masar destination has reportedly been planned according to a modern concept
It is based on complementary and interrelated foundations, including environmental and urban aspects
Visa, Master card suspend operation in Russia
The cards would continue to work on Russian territory because all payments in Russia are made through a national system...Mastercard decided to suspend its network services in Russia while Visa will cease all Russians transactions over the coming days
Russia's central bank has warned Russians traveling abroad that they should carry alternate means of payment
New UAE law boosts family business growth
Haoula considers it extremely important to sustain family businesses as a recognition for their efforts historically, and for the advantages...Corporate tax in the UAE is expected to be among the most competitive in the world, due to the 9% introductory rate and no tax for profits up to $102k
Personal income that does not come from a licensed business or commercial activity in the UAE will not be subject to corporate tax
Moody’s says Ukraine war endangers global economic recovery
The Russia-Ukraine conflict and subsequent sanctions have increased risks to the global economic outlook, with effects that will depend on the...Europe's recovery would be at risk if the military conflict escalates, according to VP-Senior Credit Officer at Moody's, Kelvin Dalrymple
Rising prices for commodities from the region, such as oil, grains and metals, are increasing inflationary pressures, Moody's said
