Business

Air Arabia profit falls

Revenue rises despite regional cost pressures

FAB plans $4.08bn rights issue

UAE’s largest bank seeks capital for growth.

flydubai launches new flights

Riga, Salzburg, Vilnius flights begin from Dec

ADNOC Gas Q3 profit $1.34bn

Stronger earnings support higher full-year outlook

Agthia 9M profit nearly triples

Third-quarter revenue increased 14.4 percent.

Qatar real-estate trading volume in January stands at US$521m

Doha, Qatar--The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry...

Jordan to set up phosphate washing plant costing $85 million

JPMC recently set a new record for exports totaling 554,762 tons in June, the highest since the opening of the...

ADIO signs new partnership deals under $545m Innovation Program

The Abu Dhabi Investment Office (ADIO) will provide technology companies Callsign, Lyve and RIZEK financial and non-financial incentives, including rebates...

Aldrees to expand into Egypt, plans to set up 60 fuel stations

The company owns nearly 600 fuel stations in Saudi Arabia, and it is now looking to expand beyond the kingdom...

Fewer foreign workers leave Saudi job market in Q1 2021

The highest (237,000) number of foreigners left their jobs between the second and third quarters of 2020

Beneficial Owner data: Dubai Economy to fine violators

Beneficial Owner refers to individuals and entities that benefit from owning a registered business in UAE. Data required include  nationality,...

Fee for setting up business in Abu Dhabi cut by 94 percent

The reduced fee includes six activities within the business license and covers all fees for several government entities

Dubai realty sales worth $4.02 bn recorded in June

Mohammed Bin Rashid City, Dubai Hills Estate, Dubai Land, Green Community and Town Square top  top areas of interest for...

UAE leads MENA region in crowdsourcing industry

Depending on the diversity of the information provided, crowdsourcing becomes a tool for growth and advancement in today’s modern era,...

Hub71 to evaluate, endorse applications for Entrepreneur Golden Visa

Applications endorsed by Hub71 will be finalized by Abu Dhabi Residents Office and the Federal Authority For Identity and Citizenship 

Remote monitoring, AI: New additions to RTA’s toolkit

RTA has collaborated with Alibaba Cloud to start trial of ‘City Brain’, which analyzes big data and can eventually improve...

Iran-EU trade surpasses US$5bn in 2023, says Eurostat

TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...

Company News

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FAB second quarter net profit $1.14bn

The rise attributed to increase in net interest and non-interest income.

Tech titans promise watermarks to expose AI creations

Representatives from Amazon, Anthropic, Google, Inflection, Meta, Microsoft, and OpenAI were to join US President Joe Biden later Friday to...

Saudi Arabia’s PIF sets up Sawani Company for camel dairy industry

RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced the establishment of Sawani Company to enable the growth of...

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Security, trust: Tech titans promise watermarks on AI creations

Representatives from Amazon, Anthropic, Google, Inflection, Meta, Microsoft, and OpenAI were to join US President Joe Biden later Friday to...
  • Worry that imagery or audio created by AI will be used for fraud and misinformation has ramped up as the technology improves and the 2024 US presidential election gets closer.
  • Commitments by the companies include independent testing of AI systems for risks when it comes to biosecurity, cybersecurity, or "societal effects," according to the White House.

Dates exports from Saudi Arabia hit $342m in 2022, marking a 5.4% surge

Riyadh, Saudi Arabia - Saudi Arabia exported 321,000 tons of dates in 2022 worth 1.28 billion Saudi Riyals ($342 million),...
  • The upward trajectory continued with Saudi dates exports rising by 2.5 percent year on year in the first quarter of 2023
  • In 2022, the Kingdom's dates exports surged by a remarkable 121 percent compared to 2016

G42, Cerebras unveil world’s largest supercomputer for AI training, deal worth $100m

Sunnyvale, CA: G42, the UAE-based technology group and Cerebras Systems, the company specializing in accelerating generative AI  on Thursday announced...