Germany shares observations on Qatar hosting Autonomous e-Mobility Forum
In its efforts toward sustainable transportation, the German embassy is the first diplomatic representation in Doha to utilize an electric...
Business
Jordanian industrialists call for export diversification
AMMAN, JORDAN – Jordanian industrialists have emphasized the imperative of strategic planning to bolster export diversification, underlining key measures such...
Business
Business
Al Seer Marine, L3Harris renew pact
They have partnered with each other for the past six years.
- Al Seer Marine said the renewal of this new agreement will capitalize on L3Harris' extensive international experience in the design and deployment of uncrewed platforms.
- It will also enhance Al Seer Marine's ability to continue manufacturing and delivering Unmanned Surface Vessels (USV) across various markets in the Gulf Cooperation Council region.
Microsoft announces $3.2 billion investment in Australia
Details of the deal were outlined by bosses at the US tech giant and by Australia's prime minister, Anthony Albanese,...
- The tech giant will expand its "hyperscale" cloud computing and AI infrastructure in Australia over the next two years
- Details of the deal were outlined by bosses at the US tech giant and by Australia's prime minister, Anthony Albanese
Business
NMDC posts bumper profits
Its revenues for the first nine months stood at US$3bn.
- The company's net profits increased 115 percent to $411 million in the first nine months of 2023
- It attributed growth in revenues and net profits to progress of the major projects underway
Business
RAKBANK reports highest ever net profit
The bank's income increased by 35.4% year-on-year.
- The bank's income increased by 35.4% year-on-year, thanks to continued growth in low-cost deposits and expansion across all segments of its business
- The bank maintained strong credit quality, with a cost of risk at 2.5% and an impaired loan coverage ratio of 210.3% for the YTD through September 2023
Investigation
Funding key challenge for Middle East innovators
Deep-tech companies in the Middle East are facing challenges due to limited funding and inadequate R&D centers, leaving entrepreneurs seeking...
- Deep-tech companies in the Middle East are facing challenges due to limited funding and inadequate R&D centers, leaving entrepreneurs seeking a more supportive ecosystem
- Startups struggle to monetize intellectual property, and despite universities' support to develop IPs, the main challenge for them is achieving sustainability and profitability
Investigation
Funding key challenge for Middle East innovators
Deep-tech companies in the Middle East are facing challenges due to limited funding and inadequate R&D centers, leaving entrepreneurs seeking...
- Deep-tech companies in the Middle East are facing challenges due to limited funding and inadequate R&D centers, leaving entrepreneurs seeking a more supportive ecosystem
- Startups struggle to monetize intellectual property, and despite universities' support to develop IPs, the main challenge for them is achieving sustainability and profitability
Market Report
Markets fall as traders wary due to Gaza war, Fed interest rates
Paris, France - Stock markets slid on Monday, extending last week's sell-off n fears of a regional conflict in the Middle...
- Oil prices slid as Israel's expected ground offensive against Hamas in Gaza was delayed, with diplomats trying to secure the release of more hostages.
- The concerns about US interest rates have also been affecting bond markets, with the yield on 10-year US government bonds rising above 5.0 percent.
Business
British Steel to cut 2000 jobs
British Steel is battling losses of $36 million a month.
- The potential staff cuts are said to be a key plank of plans to replace its coal-powered blast furnaces with electric arc furnace (EAF) technology.
- The switch could unlock new funding for Chinese group Jingye, which has owned British Steel since 2020, including up to £300 million of taxpayer funding.
Business
KEZAD Group signs lease agreement with Advanced Petro Services
ABU DHABI, UAE - Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the integrated trade, logistics, and industrial hub of Abu...
- KEZAD’s industrial ecosystem is equipped with state-of-the-art infrastructure which perfectly supports Advanced Petro Services’ 24,000 sqm facility.
- The CEO of KEZAD Group said APS is well-positioned to make a significant impact in the broader Abu Dhabi industrial landscape.
Business
Total of 52 MoUs signed in Saudi-Korean Investment Forum
RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here....
- The private sector inked 48 MoUs in sectors ranging from transportation, tourism, energy, technology, infrastructure and cybersecurity.
- The pacts aim to enhance investments between Saudi Arabia and South Korea which reflect the efforts towards collaboration between the two nations.
Germany shares observations on Qatar hosting Autonomous e-Mobility Forum
In its efforts toward sustainable transportation, the German embassy is the first diplomatic representation in Doha to utilize an electric...
Business
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KEZAD to build new warehouses
Business
Google AI research hub in Paris to host 300 experts
The new hub part of a trend for big tech firms to base teams in European centers.
Business
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US allies warn Israel against ‘catastrophic’ Rafah operation
The leaders of Australia, Canada and New Zealand on Thursday warned Israel against a potentially "catastrophic" ground offensive in the...
- In the face of mounting international pressure and a death toll that Gaza authorities say has now topped 28,000, Netanyahu has vowed to press ahead
- Netanyahu has promised Israeli forces will soon conduct a "powerful" operation in Rafah -- a city filled with countless Gazans displaced by fighting elsewhere in the territory
Business
Airbus profit drops 11 percent
The group plans to deliver "around 800" aircraft in 2024.
- The group said it had received orders for 2,094 aircraft in 2023, beating a previous record dating back to 2013
- Group revenues increased by 11 percent to 65.4 billion euros, with commercial aircraft revenues increasing 15 percent
Business
WSG has ushered in a new decade of positive impact: Hamid Al Zaabi
Dubai, UAE-- The World Governments Summit (WGS) has ushered in a new decade of positive impact, inspiring governments and societies...
- Al Zaabi said digital transformation has become a reality and threats from the transition affect the economic and social security of countries
- He said the anti-money laundering office has enhanced the fight against financial crimes and protects the nation's economic security