Nissan plans self-driving taxi service in Japan
It has been testing self-driving mobility services since 2017.
Business
WTO approves services trade rules, overcoming objections
The set of rules will streamline authorization requirements and ease procedural hurdles faced by businesses, according to a press release....
Geostrategy
Business
Dubai court directs Nissan to pay $354m to Al Dahana in damages
A court in Dubai has directed Nissan Motor Co. Ltd. and Nissan Middle East to pay $354 million as compensation...
- The case sought compensation for damages suffered due to breach of contract allegedly committed by Japanese automaker Nissan
- The Dubai court issued a precautionary attachment order over goods and moveables
Business
DMCC sells a rough 118-carat diamond for record $5.2 million
Dubai Multi Commodities Centre (DMCC) has sold a 100+ carat rough diamond for $5.218 million (US$ 44,004 per carat) in...
- The 118.58-carat type IIa stone was viewed by top diamond trading companies from Asia and Europe.
- During one tender event in Dec. 2020, $87 million worth of rough diamonds were sold at Dubai Diamond Exchange.
Geostrategy
Microsoft shuttering LinkedIn in China as rules tighten
The US-based company will replace LinkedIn in China with an application dedicated to applying for jobs but without the networking...
- LinkedIn was given a deadline by Chinese internet regulators to better oversee content on the site.
- Aside from being a venue for finding jobs, LinkedIn is a place for exchanges over business developments or news.
Israel readies for delivery drone traffic jams
Israeli companies are tapping air force veterans’ expertise to avoid collisions in increasingly crowded skies as they look to start...
- Israel has a public-private initiative worth 20 million shekels, or about $6 million to advance its drone technology
- As part of it, three drones were delivery-tested earlier this week
Business
CBD and Infinios announce pact
Both will work to support the growing fintech market in UAE.
- Achieving the financial inclusion objective of the UAE one of the aims behind partnership.
- The partnership will help Infinios to expand its regionally unique banking-as-a-service solution (BaaS).
Business
Arab influencers use Instagram for global branding
As the 'influencers' phenomenon gets popular on social media, many of them in the Arab world have ridden the Instagram...
- Instagram is currently one of the most powerful channels for brands and SMBs
- In the post-pandemic era, brands can be developed and sustained without physical stores
Business
UAE discusses trade partnership with South Korea
The UAE and South Korea have discussed the prospect of pursuing a Comprehensive Economic Partnership Agreement to strengthen economic ties,...
- The negotiation process for this agreement is set to begin soon
- It is expected to cover issues like market access to goods and services, ecommerce, and carbon neutrality
Business
ADQ to buy remaining 20 percent stake of Daman
ADQ has entered into a definitive agreement to acquire the remaining 20 percent equity stake of The National Health Insurance...
- Since 2006, Daman has grown to become the nation’s largest health insurance provider
- As a partner to ADQ, Munich Re will continue to be Daman’s reinsurer
Business
Egypt ties up with Japan, France to build 500 MW wind farm
A consortium of companies has signed a 20-year deal with the Egyptian Electricity Transmission Company (EETC) to develop, construct and...
- The Nasdaq Dubai and Egypt stock exchange listed company did not disclose a value for the project
- The project is subject to financial close, after which the wind farm will be implemented in 30 months
Business
A deposit to fund green projects in Middle East
HSBC UAE has managed to secure the first green deposit from Saudi British Bank (SABB) through its new program dedicated...
- The deposit will be used solely to finance green initiatives
- HSBC launched in June its Green Deposits offering for commercial and institutional clients in the UAE
Nissan plans self-driving taxi service in Japan
It has been testing self-driving mobility services since 2017.
Business
Company News
Masdar, Airbus sign deal
Economy
Latest News
Disney streaming service sees subscribers fall again
Disney+ finished the quarter with 146.1 million subscribers, compared with just shy of 158 million in the first three months...
Most Read
Opinion
Generative AI brings challenges and opportunities
"New technologies like generative AI bring both opportunities and risks. A holistic AI strategy ensures privacy, security, and compliance, considering...
- The rise of ChatGPT has ignited immense interest in generative AI, with numerous businesses integrating it enterprise-wide
- AI technology is proliferating at an unprecedented pace, surpassing any other technology, writes Gail Coury, SVP and CISO, at F5
Business
Dubai Municipality parks attract more than 15m visitors in H1
Dubai, UAE-- More than 15 million people visited Dubai Municipality public parks, neighborhood parks, lakes, and recreational facilities for the...
- The record-breaking trend marks a 50 percent increase in the same period of 2022, which recorded approximately 10 million visitors
- The spike in the number of visitors to the parks and other recreational facilities is made possible by their location and ease of access
Business
Black Cobra signs MoU with NFFSP to make military footwear in MENA region
Abu Dhabi, UAE--Black Cobra Military Supplies (BCMS) and the National Factory for Safety and Security Products (NFFSP) have signed a...
- Aided by the Emirates Defence Companies Council (EDCC), the MoU looks to offer a sustainable platform that supports the strategic goals of the two companies
- NFFSP's CEO said the agreement will enable the two companies to produce modern, high-quality items "that fulfill the needs of the region's military and security forces"