Iraq holds its first census in nearly 40 years
The Iraqi census is scheduled for Wednesday and Thursday, and will provide sorely needed up-to-date demographic data for the country...
AI-Driven technologies drive operational excellence, helping meet sustainability goals
Industrial AI and digital technologies are revolutionizing energy infrastructure, helping companies across asset-intensive sectors achieve operational excellence
Business
Economy
Rise in remittances hikes demand for Jordanian dinar, says chamber of commerce
AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar. Exchange...
- There are positive indicators suggesting a stabilization in Jordan’s economy.
- Presently the currency exchange sector comprises 250 firms across Jordan.
Business
UBS reports lower net profit in 2023
The Swiss government pushed it to buy Credit Suisse last year.
- UBS had reported a $29 billion annual profit in February due to the difference between the value of the assets obtained in the Credit Suisse dea
- In its annual results published on Thursday, UBS said the fair-value estimate has been adjusted by $1.2 billion, decreasing the "negative goodwill" to $27.7 billion
China’s Xiaomi to enter EV market
China's EV sector has grown rapidly in recent years.
- Xiaomi CEO Lei Jun has promised that the SU7 EV will be "the best-looking, best-driving and smartest car" costing under $69,200
- Xiaomi is the world's third-biggest smartphone maker, and its experience in that sector has helped shape its EV strategy
Economy
Aramco CEO terms energy transition strategy a failure
Speaking at the CERAWeek conference in Houston, Saudi Aramco Chief Executive Amin Nasser said that the current transition strategy is...
- ExxonMobil Chief Executive said "we're not on the path" to reaching net zero emissions by 2050
- In November last year, COP28 conference included a call for a transition away from fossil fuels
Business
Abu Dhabi Chamber and UAEIIC team up to boost investment
Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council...
- The two entities will ensure the growth of investments in the region and across the world to promote Abu Dhabi as an investment destination
- They will work together to assess growth opportunities in strategic priority markets, provide consultations, and share studies and information
Business
Saudi Arabia weighs handing state airline Saudia over to PIF
Riyadh, Saudi Arabia - Saudi Arabia is considering transferring ownership of its national carrier, Saudia, to the sovereign wealth fund,...
- Bloomberg initially reported the discussions regarding PIF's potential acquisition of Saudia
- Currently, PIF already holds ownership of Riyadh Air, the kingdom's upcoming airline
Business
Investcorp Capital names new CFO
Rohit Nanda, the new CFO, will take up his new job next month.
- Nanda before his new appointment was the head of Operations and head of Investment Structuring and Business Support, Asia, at Investcorp
- He is a chartered accountant, holding a master's degree in science with a specialization in finance from the London School of Economics
Business
GenAI set to bridge cybersecurity skills gap by 2028
As GenAI narrows cybersecurity skills gap, organizations will prioritize aptitude over specialized education, adapting hiring practices to meet demands of...
- As GenAI narrows cybersecurity skills gap, organizations will prioritize aptitude over specialized education, adapting hiring practices to meet demands of emerging technologies.
- With malinformation costs set to exceed $500bn, businesses must invest in anti-malinformation programs and leverage chaos engineering to figh against evolving cyber threats.
Business
Yen plunges to 34-year low, mixed results for equity markets
Hong Kong, China - The yen plunged Wednesday to a 34-year low against the dollar after a top Bank of Japan...
- The fall raised speculation that authorities would step into markets to support the currency after officials warned in recent days against speculation
- The weaker yen helped spur a rally in the Nikkei as exporters benefited, making the index the region's best performer
Business
Lapita sees surge in leisure and wedding bookings in 2023
Dubai, UAE--Lapita, Dubai Parks and Resorts, has reported a surge in demand, bookings from across leisure and corporate segment last...
- The company saw a noticeable uplift in interest in corporate customers, wedding bookings, and leisure bookings across 2023
- It also hosted over 35 wedding ceremonies and receptions as well as birthdays, with the resort providing the perfect backdrop
Iraq holds its first census in nearly 40 years
The Iraqi census is scheduled for Wednesday and Thursday, and will provide sorely needed up-to-date demographic data for the country...
Company News
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Social media platform X to shutter local operations in Brazil
Social media platform X, formerly Twitter, will shutter its local operations in Brazil following a bitter legal tussle over the...
Crypto crime drops 19.6% as digital ecosystem matures
Advanced blockchain analysis tools, such as those provided by Chainalysis, are empowering law enforcement agencies and enterprises to counter the...
Economy
West tells Iran to ‘stand down’ Israel attack threats; Tehran says ‘no way’
With tensions soaring in the Middle East, the United States says that Iran along with its proxies might attack Israel...
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Business
Oman, China bilateral trade grows by 8% to $15bn till May
 The volume of bilateral trade between the Sultanate of Oman and the People’s Republic of China has increased 8% in...
- The major projects in Oman are in new energy, mining, electricity generation, IT and communications
- Chinese investments in Oman stood at over US$6.6bn
Economy
Saudi Arabia submits official bid to host FIFA World Cup 2034 after successful Qatar event in 2022
The next steps include official visits by FIFA and a comprehensive evaluation of the bid.
- This bid highlights Saudi Arabia’s commitment to Vision 2030
- Saudi Arabia is currently the sole nation bidding for the 2034 World Cup
Business
US defends forcing sale of TikTok app
TikTok's suit argues this violates First Amendment rights of free speech.
- US intelligence agencies are concerned that China can "weaponize" mobile apps, justice department officials said
- A bill signed by President Joe Biden early this year set a mid-January 2025 deadline for TikTok to find a non-Chinese buyer or face a US ban.