Abu Dhabi climbs global startup rankings on AI and tech growth
The emirate was ranked in the #41-50 category globally, improving from the #51-60 range a year earlier and marking one...
Business
Forbes lists Emirates Auction CEO among top CMOs
Dubai, UAE -- Omar Matar Al Mannaei, chief executive officer and chief marketing officer of Emirates Auction, has been named...
Business
Business
Stock markets: Germany drags Europe down, Tokyo rises again
In Asia, Tokyo rose for a sixth successive day to build on last week's advances, which saw the Nikkei break...
- "European stock markets were softer... as the week got off to a relatively quiet, risk-averse start," noted Neil Wilson, chief market analyst at Finalto trading group
- In Asia, Tokyo rose for a sixth successive day to build on last week's advances, which saw the Nikkei break above 35,000 points for the first time since 1990
Business
Saudi Arabia unveils 45,000-seat multi-use stadium in Qiddiya City
RIYADH, SAUDI ARABIA - The Board of Directors of the Qiddiya Investment Company (QIC) announced on Monday the launch of...
- Upon opening, the stadium is anticipated to host some of Saudi Arabia’s biggest sports, entertainment, and cultural events.
- It aims to draw visitors from across the globe and revolutionize the traditional stadium experience with its immersive design.
World Economic Forum
IMF chief at Davos: AI holds risks, opportunity for global economy
Artificial intelligence poses risks to job security around the world but also offers a "tremendous opportunity" to boost flagging productivity...
- "We must focus on helping low-income countries in particular to move faster to be able to catch the opportunities that artificial intelligence will present," Georgieva told AFP.
- Georgieva said 2024 is likely to be "a very tough year" for fiscal policy worldwide, as countries look to tackle debt burdens accumulated during the Covid-19 pandemic.
Business
Ummahat Island unveils world’s first net-zero 5G network towers
Tabuk, Saudi Arabia -- Red Sea Global (RSG), Zain KSA, and the French Serge Ferrari Group have developed and installed...
- In addition to being 100% solar powered, these towers are designed in a way that allows air circulation to reduce cooling costs, and do not require high maintenance.
- They are also aimed at preserving biodiversity and enabling tower sharing among all licensed telecom operators in KSA.
Business
Mammoet, Aertssen sign agreement
The two firms will provide heavy-lifting solutions in Qatar.
- Mammoet said in a statement that the collaboration will "capitalize on the individual strengths and capabilities of both companies".
- The solutions range from small mobile cranes for quick operations to complex engineered heavy lifting and transport projects.
Geostrategy
Saudi Arabia, China ink MoU in accounting and auditing
RIYADH, SAUDI ARABIA – The Kingdom and the People’s Republic of China signed on Monday in Beijing a memorandum of...
- The MoU is similar to other agreements that GCA has reached with counterpart organizations in different countries.
- These agreements underscore GCA's elevated professional standing, at both regional and international levels.
Business
China Construction Bank lists $600m green bond in Nasdaq Dubai
DUBAI, UAE - Nasdaq Dubai has welcomed the listing of a US$600 million green bond by China Construction Bank (DIFC...
- The total value of bonds listed on Nasdaq Dubai by CCB, comprising the issuances by Hong Kong and Dubai branches, stands at $2.45 billion.
- The cumulative value of outstanding debt from Chinese issuers on Nasdaq Dubai stands at US$11.95 billion through 22 issuances.
Business
Qatar Chamber and CzechTrade look to boost trade cooperation
Doha, Qatar--Qatar and Czech Republic are looking to ramp up trade and investment cooperation between the two countries. In this...
- The two sides looked at ways to bolster cooperation between Qatari companies and their counterparts from Czech Republic
- The trade volume between the two countries reached $183m in 2022, reflecting a 10% increase compared to the previous year
Business
DEWA unveils new distribution substations
It commissioned 1,414 substations of 11kv in Dubai.
- The CEO of DEWA said the construction of the substations and related tasks resulted in a total of 996,648 man-hours
- He said DEWA is planning to boost the transmission and distribution networks based on electricity demand forecast until 2030
Business
GCC’s cybersecurity dynamics: The two sides of AI
In the GCC's evolving cybersecurity realm, AI integration is crucial, driving economic growth and transforming defense strategies against complex cyber...
- In the GCC's evolving cybersecurity realm, AI integration is crucial, driving economic growth and transforming defense strategies against complex cyber threats.
- The region's AI strategy in cybersecurity strikes a balance between innovative growth and managing ethical dilemmas, ensuring powerful yet responsible use.
Abu Dhabi climbs global startup rankings on AI and tech growth
The emirate was ranked in the #41-50 category globally, improving from the #51-60 range a year earlier and marking one...
Business
Company News
Emaar to pay $2.39bn dividend
Business
Aramco acquires stake in BHIG
Business
ADNOC L&S okays $273m dividend
Business
Latest News
MENA Brief | June 19: GCC central banks hold interest rates steady, Diriyah House launched in London
As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington,...
Geostrategy
How travel brands can target high-intent travelers in the MEA region
As tourism booms across the Middle East and Africa, travel brands face fierce competition. Success now means using data-driven, personalized...
Opinion
Cross-border payments and financial inclusion drive stablecoin popularity
London, United Kingdom -- Stablecoins -- a form of cryptocurrency backed by traditional assets -- are gaining traction, with the...
Business
Most Read
Business
WhatsApp introduces first major advertising features
San Francisco, United States -- WhatsApp announced Monday it will introduce its boldest advertising features yet, marking a significant shift...
- The move is a sensitive one for WhatsApp, whose chief firmly denied a report in 2023 that said the Meta-owned app was exploring advertisements as it sought to boost revenue.
- Unlike Facebook, Instagram, and other social platforms, WhatsApp has maintained minimal advertising since Meta acquired it in 2014.
Business
Abu Dhabi state oil firm makes US$18.7 billion bid for Australia’s Santos
Sydney, Australia - Abu Dhabi's state-owned oil company is leading a takeover bid for Australian energy group Santos, valuing it...
- Santos's board said it plans to unanimously recommend the Abu Dhabi National Oil Company's offer to shareholders if it can agree on the takeover terms
- Adelaide-based Santos has energy operations in Australia, Papua New Guinea, East Timor and the United States, and is a major supplier of liquefied natural gas in Australia and Asia
Economy
Boeing lowers 2044 global air fleet outlook amid supply chain woes
New York, United States -- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most...
- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most built over the next 20 years, according to a Boeing forecast released Saturday.
- The global fleet will nearly double to 49,600, a bit below Boeing's prior annual outlook, the company said ahead of the giant Paris Air Show beginning Monday.