AI in focus as world’s biggest mobile fair gets underway in Spain
Barcelona, Spain - The world's biggest mobile phone fair throws open its doors in Barcelona Monday with the sector looking to...
Business
MENA ups cybersecurity ante to combat GenAI risks
With GenAI emerging as a new frontier for cyber threats, and stricter data privacy laws coming into effect, organizations are...
Business
‘Third mass exodus’ feared in Lebanon as crisis worsens
Based on a survey done last year, 77 percent of Lebanese youth said they think about emigrating and seek it,...
- Based on a survey done last year, 77 percent of Lebanese youth said they think about emigrating and seek it, and this percentage is the highest among all Arab countries
- Many professionals, including doctors, academics, entrepreneurs, and designers, have left or are planning to go
Business
Knight Frank strengthens UAE team
The company hires two members for Industrial and Logistics.
- Company credits Maxim Talmatchi, who was hired as manager and co-head of Industrial and Logistics, with 300 successful transactions.
- Dumitru Mamaliga, hired as industrial surveyor, has focused in the industrial and logistics sector in the UAE since 2017.
Business
Pageants, races drive camel cloning demand
Cloning is in demand not only for beauty pageants and races but also for reproducing camels that produce large amounts...
- Some clients will pay between $54,500-$109,000 to duplicate a "beauty queen".
- Dubai claimed the world's first cloned camel, Injaz (achievement in Arabic), on April 8, 2009.
Kuwait Airways to resume New York flight
The destination is in high demand from business travelers, tourists.
- Two kinds of aircraft will be operated for the route.
- The airways has resumed operations from various destinations.
Business
RTA announces special buses for Expo 2020 Dubai
The RTA will operate 126 buses within Dubai, and 77 buses between Dubai and the other emirates, all so that...
- Dubai’s RTA will deploy 126 public buses for Expo 2020 Dubai visitors
- Called Expo Rider, they will be free for visitors, and available from nine locations across Dubai
Economy
Saudi Arabia eyes investment opportunities from Germany
The Saudi Vision 2030 has unlocked investment opportunities worth SAR12 trillion (€2.7 trillion or $3.2 trillion).
- Germany is a key trade and investment partner for Saudi Arabia
- It was the fourth-largest source of imports to the kingdom in 2020
DGCX, Zimbabwe exchange ink pact
DGCX will extend technical support and skills to VFEX.
- The aim of the agreement is to establish an international commodities exchange in Zimbabwe.
- The one-year agreement was signed during the visit of a high-level Zimbabwean ministerial delegation.
Dubai Chamber members’ exports, re-exports reach $40 bn
Surge in trade activity in Dubai has lifted the value of exports, re-exports.
- 58,154 certificates of origin issued by Dubai Chamber in August 2021.
- Outside of the GCC, Egypt was the largest export market as member exports to the country.
Tehran to issue 20 million more Justice Shares
Issued during the rule of former president Mahmoud Ahmadinejad in 2006, the Justice Shares were intended to assist economic privatization...
- The value of the portfolios of shareholders, which are estimated to be 49 million, has grown nearly ten times.
- The number of state-owned enterprises that were supposed to be privatized under the justice share program is now 49, valued at $21.8 billion.
Arts & Culture
Disney to debut rest of 2021 films in cinemas first
The decision was eagerly awaited by traditional cinemas after the entertainment giant recently chose to release a series of big...
- The decision was eagerly awaited by traditional cinemas after the entertainment giant recently chose to release a series of big productions such as "Black Widow", "Jungle Cruise"
- The animated film "Encanto" will be released on the big screen on November 24 and will not appear on Disney's on-demand video platform until December 24
AI in focus as world’s biggest mobile fair gets underway in Spain
Barcelona, Spain - The world's biggest mobile phone fair throws open its doors in Barcelona Monday with the sector looking to...
Business
Company News
Airbus Q1 net profit at $514m
Business
EITC posts Q1 revenue at $936m
Business
Latest News
Brazil midfielder Fabinho quits Liverpool, signs deal with Al-Ittihad
Fabinho, the Brazil midfielder, will join Karim Benzema and N'Golo Kante at Al-Ittihad, one of four Saudi clubs controlled by...
Business
Musk caves in to furore, removes giant, flashing X sign
The X, installed on the roof of the company's downtown office last week, was part of owner Elon Musk's bid...
Economy
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Business
US equities up as major firms set to unveil economic reports
New York, US - Wall Street stocks edged higher early Monday ahead of major economic reports and earnings releases later in...
- US equities have continued to trend higher in July behind hopes that the Federal Reserve will soon relent on interest rate hikes
- The broad-based S&P 500 added 0.3 percent at 4,593.56, while the tech-rich Nasdaq Composite Index advanced 0.4 percent to 14,370.18.
Economy
Federal Reserve open to alter interest rates, says official
Washington, US - A Federal Reserve official left open the possibility on Monday of pausing or stopping interest rate hikes at...
- To rein in surging costs of living, the Fed has lifted the benchmark lending rate rapidly since March 2022
- While the full effect of policy will take time to ripple through the economy, inflation has cooled
Business
Aldar Properties Q2 net profit $353m
Aldar recorded AED 2.1 billion in net profits for the first half of 2023.
- It also achieved revenues of AED 6.3 billion dirhams, an increase of about 18 percent.
- Aldar reported a record development sale of AED 11.6 billion with 10 new project launches year-to-date.