MENA startups optimistic despite funding fluctuations
In January 2024, MENA startup funding dropped 34% to US$ 86.5 million across 33 deals, with the UAE leading, followed...
Business
AI in the Middle East: From potential to profit
The region is making significant strides in integrating AI into various sectors, promising substantial productivity gains and innovation, a latest...
Business
Dubai records 4,429 real-estate transactions worth more than $3 billion in May
This was Dubai’s highest total sales transaction value in the sector since March 2017 $12.85 billion worth 20,989 real estate...
eCommerce booms in Saudi Arabia, market touches $970 million
Annual growth in eCommerce market expected to grow by more than 6 percent Currently, only 15 to 20 percent of...
AlSagr shareholders shout ‘no’ 15 times to reject 15 of 20 items during AGM
Not once, or twice, or even five times, AlSagr shareholders shouted no 15 times to reject three-quarters of the items...
- Appointment of Baker Tilly and Alkharashi & Co. as external auditors among proposals rejected
- Investors also refused to endorse contracts involving firms with links to some board members
Trade between Dubai, Germany crosses $6.7 billion in 2020
Ambassador of Germany to the UAE 'impressed' with the free zone’s infrastructure Trade between two countries expected to grow more...
Dubai Airports to add 3,500 jobs as key terminals reopen this week
Opening terminals will boost the airport's PCR testing capacity 3500 employees will either be new hires or the ones waiting...
Halliburton wins key Kuwait Oil Company contract
Projects expand collaboration across all Kuwait fields to increase production and recovery The US group will collaborate with KOC...
Sharjah explores new avenues of cooperation with Guatemala
The focus of the discussions was particularly on renewable energy, culture, and tourism They also explored the opportunities available...
Saudi Arabia and Indonesia set up a task force to look at investment opportunities
Indonesia invited Saudi Arabia to invest in Bank Sharia Indonesia, the nation's largest sharia compliant bank It could also...
Bahrain’s Batelco looks to dual list on Tadawul, could be first to do so
Bahrain’s biggest telecommunications firm has hired the investment arm of Samba Tadawul has been trying to encourage Middle Eastern...
New weekly container ship service to connect Cochin, Chennai ports with MENA
The new service is jointly operated by a global shipping line --Evergreen Line, and feeder operators--Feedertech and Express Feeders...
MENA startups optimistic despite funding fluctuations
In January 2024, MENA startup funding dropped 34% to US$ 86.5 million across 33 deals, with the UAE leading, followed...
Business
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Infosys Q1 profit drops
Business
Standard Chartered sells Africa business
It sold the sub-Saharan Africa business to Access Bank.
Business
GCC, Japan resume Free Trade Agreement negotiations
Jeddah, Saudi Arabia--Looking to consolidate trade and investment ties, the Gulf Cooperation Council (GCC) and Japan announced their resumption of...
Economy
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Business
Middle East tackles AI hurdles, embraces opportunities
The region, rich in history and culture, is expected to accumulate substantial global AI benefits, reshaping its traditional sectors and...
- The region, rich in history and culture, is expected to accumulate substantial global AI benefits, reshaping its traditional sectors and driving innovation, reports suggest
- Tradition and technology harmoniously coexist in Middle East as it stays committed to AI integration despite some industries grappling with implementation challenges
Economy
Commercial transport sector added $4.38bn to Dubai economy, says RTA
DUBAI, UAE - Commercial transport sector contributed AED16.1 billion ($4.38bn) to Dubai's economy in 2022, said Mattar Al Tayer, Director-General,...
- The commercial transport activities sector has experienced consistent economic growth over the last two years fueled by e-commerce, said an official
- The number of registered commercial vehicles operated by these companies exceeds 300,000, reflecting a 16 percent growth rate compared to 2021, he noted
Geostrategy
Israeli court orders government to release seized Palestinian boat
GAZA CITY, PALESTINIAN TERRITORIES - Israel returned a boat to a Gaza fisherman it had seized for allegedly breaching the limits...
- Israeli authorities had called for the vessel, belonging to fisherman Mohammad al-Hissi, to be permanently confiscated.
- However, a Haifa court last month ordered that the boat be returned to Hissi even as legal proceedings continued.