GCC business landscape evolves with rising AI tide
Companies in the region are leveraging artificial intelligence to enhance customer experiences, streamline operations, and stay competitive in the dynamic...Business
UAE seeks to diversify economy beyond oil
With little oil but the most diversified economy in the Gulf, Dubai has gone from a fishing village to a...With an economy second only to Saudi Arabia in the Gulf, the Emirates is one of the easiest countries in the world to do business, according to the World Bank
But having diversified its economy over the decades, it relies less and less on petrol, with revenues now making up only 30 percent of its GDP
Emirates Stallions acquires stake in WFC
Acquisition aimed at diversifying Emirates Stallions' business.WFC’s main revenue drivers are Real Estate, Retail, Aerospace, Defense, Government, Education, Technology, Manufacturing, Hospitality, and F&B.
Emirates Stallions Group is present in 20 markets and has assets of AED555 million as of the end of Q2 2021 and over 3,000 employees.
Khalifa University sets up a business unit with AED100m
Khalifa University of Science and Technology has launched a business and investment arm of the university named Khalifa University Enterprises...Khalifa University Enterprises Company will include ‘Innovation Acceleration and Startups’ and ‘KU Ventures’
Its mission is to boost and speed up business engagements with the University
UAE and Greek credit insurance organizations to promote businesses
The UAE's federal export credit company Etihad Credit Insurance (ECI) signed an MoU with Greece’s Export Credit Insurance Organization (ECIO)...An MoU between Etihad Credit Insurance and Greece’s Export Credit Insurance Organization will also promote SMEs.
This agreement follows the recent UAE-Greece high-level diplomatic meetings between the ministers of both countries.
Kuwait begins a drive to educate people on virtual assets
The Central Bank of Kuwait (CBK) and Capital Market Authority (CMA) have launched a campaign to educate people about virtual...The CBK and the CMA said in a joint statement on Sunday the campaign was launched as part of efforts to raise people's awareness as how to deal with these assets
Traders in the digital assets are prone to fall prey to scam, thus these online dealings are quite risky, particularly for individuals
EPG to bring out NFT stamps on National Day
To commemorate the UAE’s National Day, Emirates Post Group (EPG) will issue non-fungible token (NFT) stamps, the first in the...These innovative NFT stamps will have a digital twin in the blockchain and will be sold as digital collectibles linked to its physical stamp counterpart
Buyers will only get to see the digital design linked to the physical stamp after scanning the QR code printed on the front side of the card
ENOC Group records strong growth in supply of lubricants Idemitsu
"Our successful partnership with Idemitsu underlines the Group’s strong competencies in the lubricants business,” Saif Humaid Al Falasi, Group CEO,...ENOC Group plans to expand its geographical reach to Jordan, Kuwait, Yemen, Sudan, Ghana, Nigeria, Ethiopia, Tajikistan and Uzbekistan by end of 2021
In 2020, ENOC signed an agreement with Idemitsu to produce, distribute and manage the supply of lubricants for Idemitsu and Japanese OEM clients
ECI partners with Tradeling for business growth in MENA region
Under the agreement, the ECI will provide Tradeling’s customers with a broad range of trade credit insurance solutions.Under the agreement, the ECI will provide Tradeling’s customers with a broad range of trade credit insurance solutions
In addition to ECI Islamic and SME Protect, other innovative trade credit insurance products will benefit small, mid-cap and large enterprises using Tradeling’s platform
QFZA, Alfardan Automotive partner to build logistical hub
Alfardan Automotive's regional center will be located in the mobility industries cluster in Umm Al Houl Free Zone, located near...The hub will cover an area of more than 67,000 square meters and will utilize the latest logistics systems and processes to import vehicles
QFZA has created specialized clusters within the zones for specific sectors, including maritime, logistics and emerging technology
AD Ports Group inks deal to boost Bahrain cruise sector
Abu Dhabi-based AD Ports Group has inked an initial agreement with Bahrain-based real-estate firms Diyar Al Muharraq and the Eagle...Bahrain is tipped to become the fourth high-performing cruise destination in the Arabian Gulf
It witnessed an increase in annual arrivals in recent years, observing a record high of 130,778 passengers in 2019
