MENA startups optimistic despite funding fluctuations
In January 2024, MENA startup funding dropped 34% to US$ 86.5 million across 33 deals, with the UAE leading, followed...Business Markets
AI in the Middle East: From potential to profit
The region is making significant strides in integrating AI into various sectors, promising substantial productivity gains and innovation, a latest...Business
Aramco discovers four natural gas fields in Saudi Arabia
The exploration of natural gas will further enhance Saudi's status as the premium exporter of energy sources.The four major areas are in the Central Region, the Empty Quarter, the Northern Border Region and the Eastern Region.
The four fields where the natural gas has been found are named as are Shadun, Shehab, Um Khanasser and Samna.
Jordan, Tunisia review bilateral ties, ways to boost health cooperation
The ministers of Jordan and Tunisia discussed ways to enhance bilateral ties, especially in health cooperation. Jordan’s Health Minister Firas...Jordan’s Health Minister Firas Al Hawari met with Tunisian counterpart Ali Mrabet on Saturday in Amman
The ministers reviewed establishing health facilities such as cancer treatment centers and structures for monitoring communicable diseases.
Algeria offers to supply Europe with gas amid Ukraine crisis
Algeria's state energy firm is ready to supply Europe with more gas in view of a possible decline due to...Sonatrach is "a reliable gas supplier for the European market and is willing to support its long term partners in the event of difficult situations," Hakkar was quoted as saying
The Tansmed pipeline, jointly operated with Italy's ENI, has a capacity of some 32 million cubic meters per year -- four times that of the Medgaz pipeline to Spain
UAE non-oil foreign trade grows by 27 percent in 2021 to $517 billion
The government said the non-oil foreign trade figures of all emirates also witnessed growth individually in varying levels. The growth...The value of national non-oil exports amounted to about AED 354 billion, setting a new record, exceeding AED 300 billion for the first time in its history.
China ranked first as the country's largest trading partner in 2021, accounting for 11.7 percent of the UAE's total foreign trade with the world.
Meta and UAE’s initiative for SBMs launch ‘Boost with Facebook’ program
Meta and The Entrepreneurial Nation program have launched ‘Boost with Facebook’ program in the Emirates that is aimed at attracting...The Entrepreneurial Nation, Ministry of Economy's initiative, helps entrepreneurs set up as well as expand their ventures through PPP.
There are around 350,000 SMBs in the UAE, accounting for 86 percent of the labor force in the private sector and making up over 60 percent of GDP.
e& of UAE to foray into international markets for growth
e&, the UAE telecom firm, is looking to widen its operations overseas and push growth across all business segments.The company intends to do this by pursuing regional growth opportunities as well as tapping into markets beyond telecom
E&’s “telecom arm” will maintain its rebranding in the UAE and internationally
Pakistan’s Fatima Group inks $1billion deals at Expo with Chinese, Saudi firms
Fatima Group, a Pakistani industrial conglomerate, has signed two MoUs of over $1 billion with two key global agriculture stakeholders...Fatima Group is known as Pakistan’s fastest-growing industrial conglomerate with investments in fertilizers, textiles, sugar and cement.
The collaboration is expected to boost agriculture in Pakistani, which has 20 percent of the country’s GDP tied to it.
Saudi stocks post gains in early trading as oil prices decline
Saudi stocks posted gains in the early hours of trading on Sunday due to a dip in the prices of...Arabian Mining Co, known as Ma'aden, gained 6.92 percent to top the gainers in early trading after posting a profit of SR5.23 billion ($1.4 billion) in 2021
Aramco, the largest player in the Saudi oil market, gained 0.97 percent.
‘Pick a side’: Ukraine invasion dilemma for US Big Tech
US Senator Mark Warner wrote to Meta, Reddit, Telegram, TikTok, Twitter and other tech giants to stop Russian disinformation spreading...Facebook and YouTube have curbed Russian media's ability to earn money on their platforms following Ukraine's request
Experts have urged US companies to pick sides in geopolitical conflicts such as the one ongoing in Ukraine
Adnoc arm inks storage deal
AG&P will use an Adnoc L&S vessel as a floating storage.The agreement is valid for 11 years, with the option of extension by 4 years
The two parties have a 2021 agreement to provide another FSU in India
