Tokyo’s Nikkei climbs to its highest level since Mar 1990
Tokyo, Japan - Tokyo stocks closed higher on Tuesday on the back of gains in US tech stocks, pushing the Nikkei...Business
SEC, Emaar Economic City sign agreements
RIYADH, SAUDI ARABIA - The Saudi Electricity Company (SEC) and its subsidiary National Electricity Transmission (NET) have signed here two...Business Energy
DCT Abu Dhabi, Hub71 partner to advance tourism, culture through startups
Hub71, Abu Dhabi’s global tech ecosystem, and the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) will...DCT Abu Dhabi will fund the Proof Of Concepts (POCs) of the startups identified for future work.
Hub71 will provide DCT Abu Dhabi with access to a broad pipeline of startups, regionally and globally.
Al Seer Marine net profit $666m
The net profit for the first nine months of 2020 was AED 25.40m.The increase in net profit was driven by a rise in income from investments and recent acquisitions.
The company has acquired Very Large Gas Carriers for transport of LPG through its partnership with BGN International.
Turkey: ‘Eternal’ wine revives Assyrian culture
Only 3,000 or so Assyrians still live in the wider Mardin province, which is part of the historical Mesopotamia region...Only 3,000 Assyrians still live in the wider Mardin province, which is part of the historical Mesopotamia region where some archaeologists believe wine was invented 2,700 years ago
Subjected to discrimination most of the Assyrians have either relocated to Istanbul or emigrated to the West, reducing their number from 700,000 to 15,000 across Turkey today
Three agreements signed in Dubai for self-driving solutions
The first agreement was signed between Careem and Kiwibot to develop food and grocery delivery robots.The first agreement was signed between Careem and Kiwibot to develop food and grocery delivery robots
Majid Al Futtaim and Yandex have partnered to explore the independent technology solutions to enhance the scope of the last-mile delivery of Carrefour orders
Airports grouping ACI Asia Pacific calls for reopening borders
70% passenger loss is forecast for the Middle East which is reeling under lockdowns, travel, and quarantine restrictions and 56%...70% passenger loss is forecast for the Middle East which is reeling under lockdowns, travel, and quarantine restrictions and 56% for the Middle East
Airport revenues are predicted to decline by US$ 34 billion in Asia-Pacific and US$11 billion in the Middle East by the end of 2021
Facebook says will shut down facial recognition system
Face recognition technology could compromise privacy, target marginalized groups, and normalize intrusive surveillance, according to critics.Face recognition technology could compromise privacy, target marginalized groups, and normalize intrusive surveillance, according to critics
The news also comes as Facebook has been under intense scrutiny from regulators and lawmakers due to its platform abuses and user safety
‘Oil unlikely to hit US$100 in 2022’
The oil prices would average US$70 per barrel in 2021, Garbis Iradian, chief economist for MENA at IIF, tells TRENDS...Garbis Iradian, chief economist for MENA at Institute of International Finance (IIF), tells TRENDS in an exclusive interview that the prices would average US$70 per barrel in 2021
There are expectations of the US oil production recovery in 2022, which would increase the supply easing pressure of price
Zain to solidify 5G networks
Signs MoUs with Huawei, Nokia, Tata, BTAS and MSSP pact with Fortinet.The MoU with Huawei entails mutual cooperation for the full deployment of the 5G network within the SME sector.
Zain's agreement with Tata Communications includes joint projects related to SD-WAN and global contact centers.
Al Maryah Bank appoints advisor
Al Maryah Community Bank LLC, UAE’s first digital bank, has appointed Adeeb Ahamed as advisor to the Board Members. He...Al Maryah Community Bank, which started operations earlier this year, is a community oriented financial services provider
The Board comprises leaders from diversified sectors of economy, and Adeeb’s inputs as an Advisor will help improve the bank’s strategic direction
DP World and Indonesia Investment Authority plan $7.5bn long-term investment
DP World and the Indonesia Investment Authority (INA) have signed an agreement to form a consortium and working team to...The investments would include inland terminals, cargo parks, feeder network systems, landside transport and industrial zones.
They will also explore collaboration with the Indonesia Port Corporations (Pelindo).
