Trailblazing women transform finance in Arab world
Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.
Business
Asian markets mostly down as China sets 5 percent growth goal
Hong Kong, China - Asian markets largely fell on Tuesday after China set an ambitious five percent annual growth target and...
Business
Economy
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
Business
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.
Business
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
Business
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.
Business
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
Business
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
Business
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
Business
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
Business
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
Business
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
Trailblazing women transform finance in Arab world
Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.
Business
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Most expensive American falcon sold for $146,000 at Saudi auction
Riyadh, Saudi Arabia -- An American pure ultra-white falcon cherrug sold for SAR550,00 ($146,000) at the third edition of the...
Arts & Culture
HR ministry and Bayt.com sign MoU to boost talent retention in UAE
Abu Dhabi, UAE -- The Ministry of Human Resources and Emiratization (MoHRE) of the UAE and job search and recruitment...
Business
Dubai Chambers saves water, works on sustainability agenda
DUBAI, UAE - Dubai Chambers has contributed to the emirate’s drive for sustainability by saving a total of 72,239 litres...
Business
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Business
Google unveils changes before strict EU rules kick in
EU rules will apply from Friday to Google, alongside 18 other large social media platforms and websites including Meta-owned Instagram,...
- Google's latest steps include expanding its "Ads Transparency Center", where users will find more information about targeting for ads in EU
- It would publish transparency reports with extra information about how content moderation has been handled for more of its services
Business
AI chips revenue to reach $53bn in 2023: study
Dubai, UAE – The global semiconductor industry is set to witness a significant revenue boost in the coming year, with...
- Industries spanning the spectrum and IT organizations are expected to incorporate AI chips into their systems
- Gartner analysts foresee a substantial rise in the value of AI-enabled application processors within consumer electronics
Classic cars back on the road – in Gaza City
Around 2.3 million Palestinians live in the territory, which has been under a crippling Israeli blockade.
- Around 2.3 million Palestinians live in the territory, which has been under a crippling Israeli blockade since the Islamist group Hamas seized power there in 2007
- There is a ban on importing a range of goods, including car parts, as Israel claims these may be used in producing explosives to be used against it