Rumors swirl over bitcoin inventor Nakamoto’s identity
London, United Kingdom - An Australian man went on trial in London this week over his claims of inventing bitcoin --...
Business
DMCC witnesses 10 percent rise in US companies in 2023
DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in...
Business
Business
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
Business
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
Business
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
Interview
‘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
Business
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.
Business
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
Business
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).
Business
Demand for films in Saudi Arabia grows, above 1,000 released in 3 years
There is a great demand from distributors for films in Saudi Arabia, which is borne by the fact that more...
- CEO of the General Commission for Audiovisual Media holds meet with Warner Bros EMEA head.
- The participants say the film industry in the kingdom will witness a 'qualitative renaissance'.
Business
DEWA to be listed on Dubai Financial Market in coming months
The listing is part of the Securities and Exchange Higher Commission’s strategy to increase the size of the stock market...
- The listing is part of the Securities and Exchange Higher Commission’s strategy to increase the size of the stock market in the Emirate to AED3 trillion
- The move is likely to raise the competitiveness of bourses and encourage more initial public offerings
Business
SHUAA’s insurance assets grow to $136m
The firm expects the assets to reach $500m within three years.
- SHUAA has managed the equity and debt portfolios of five major insurance firms.
- The company is focused on strategically growing its insurance assets under management, said MD SHUAA.
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Rumors swirl over bitcoin inventor Nakamoto’s identity
London, United Kingdom - An Australian man went on trial in London this week over his claims of inventing bitcoin --...
Business
Company News
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Oil prices surge for 6th straight week as global supplies tighten
Dubai, UAE--Oil prices soared more than a dollar a barrel on Friday to record a sixth consecutive week of gains,...
Economy
Investor confidence fuels UAE’s real estate boom in Q2
Dubai's off-plan sales rose 38% in value, while Abu Dhabi's doubled to $1 billion, as the market saw the addition...
Business
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Economy
UAE 2023 growth prospects face least risk in Middle East, Africa
Lower oil production, high inflation, tighter monetary policies, increased borrowing costs, and the rising cost of servicing debt continue to...
- The GCRI risk score in the MEA region has increased continuously for six quarters until Q1 2023, signaling a deteriorating situation.
- UAE, Saudi Arabia, Kuwait and Qatar are among the top five low-risk countries in the region, while Syria, Libya and Yemen are among the 10 high-risk countries.
Business
ADNOC Gas H1 revenue $10.6bn
The decline in revenue is due to lower gas prices.
- The second quarter revenue stood at AED 19.8 billion, compared to Pro Forma Adjusted Revenue of AED 26.1 billion in Q2 2022.
- ADNOC Gas said it shifted towards higher-margin export liquids and focused on increased efficiency.
Business
Saudi capital market institutions post record 2022 net income
Riyadh, Saudi Arabia -- Capital market institutions authorized by Saudi Arabia's Capital Market Authority posted a record 29.8 percent increase...
- The retained profits in capital market institutions reached a record high of SAR 60.34 billion, an increase of 39.17 percent.
- The profits of capital market institutions surged to highest ever SAR 12 billion due to a 26 percent increase in revenues in 2022.