Electric cars credited with lower CO2 emissions in US neighborhoods
LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas,...
Business
OPEC+ decides to keep oil production levels unchanged
Vienna, Austria--The participants of the 53rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum...
Business
Geostrategy
Qatar, Iran discuss cooperation in free zones, investment
DOHA, QATAR - Minister of State and Chairman of the Board of Directors of the Free Zones Authority Ahmad bin...
- The Qatari minister and the Advisor to the Iranian President discussed reinforcing cooperation between the two countries.
- The Iranian leader and accompanying delegation toured the Free Zones at Ras Bufontas and Umm Alhoul Free Zone.
Business
ADNOC awards two contracts for Hail and Ghasha Offshore Development project
ABU DHABI, UAE – ADNOC on Thursday announced the final investment decision (FID) and award of contracts for the Hail...
- The first contract for the offshore facilities has been awarded to a joint venture between National Petroleum Construction Company and Saipem.
- The second contract will deliver the onshore scope, including carbon dioxide and sulphur recovery and handling and has been awarded to Tecnimont.
Business
Value of Dubai realty deals up 40 percent in third quarter 2023
Dubai, UAE -- The value of real estate deals in Dubai increased by 40 percent to reach AED 97.55 billion...
- The emirate's market surged 22 percent in terms of transactions, with Q3 2023 recording 31,216 transactions compared to 25,503 in the same period in 2022.
- In terms of the number of transactions, Jumeirah Village Circle topped with 1,418 transactions, followed by Arjan (1,163) and Sobha Hartland (1,115).
Business
Saudi Jisr raises $30m investment from Merak Capital
Riyadh, Saudi Arabia - Jisr, the largest platform for digitizing human resources operations in Saudi Arabia, has closed an investment...
- This marks the largest Series A investment round for a Software as a Service (SaaS) company in the Middle East
- Jisr, founded in 2016, stands as the first Saudi human resources management platform, supporting over 3,000 clients
Business
ADNOC signs pacts with 30 firms
This will create manufacturing opportunities worth $2.7bn.
- The new agreements, outline the companies’ intention to locally manufacture products potentially worth up to AED10 billion ($2.7 billion) in ADNOC’s supply chain, ADNOC said.
- Personal Protective Equipment, which will enhance the safety of operations across all ADNOC Group companies, are among the products to be produced locally.
Business
Arab Development Establishment looks for JV partnerships in oil, gas sector
Abu Dhabi, UAE-- The Arab Development Establishment (ARDECO) has revealed that it is in talks with several international companies in...
- The CEO of ARDECO said the partnerships with global companies will strengthen the government's approach to making the emirate a global hub for the oil and gas sector
- He went on to add that his company represents more than 200 global firms in gas, oilfield services, and it intends to transform its relationship with these companies
Google’s new phone to run AI on-device
At a launch event in New York, Rick Osterloh, SVP of devices and services at Google, said that the company's...
- The announcement by Google caps the autumn release season for big tech hardware that saw Apple unveil the iPhone 15 series and Meta officially launch its latest VR headset
- Running on a powerful chip, Google's Pixel 8 Pro would carry out AI functions on device itself instead of relying on transfers from cloud data centers that require heavy bandwidth
Business
Endava to widen UAE operations
It will join the UAE's FDI program to expand footprint.
- It has a global workforce of more than 12,000 scattered all over the world in Europe, North and South America, Asia and the Middle East
- Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said the UAE's partnership with Endava is a milestone for the NextGen FDI initiative
Business
Masdar City, ADAFZ sign MoU
The two free zones will collaborate to grow businesses.
- Masdar City Free Zone companies that establish operations within ADAFZ will have the opportunity to lease warehouse and manufacturing space
- The collaboration will help improve synergies and strategic partnerships between Abu Dhabi Free Zones and grow the free zone ecosystem in the emirate
Business
Fintech innovations reshape GCC’s banking landscape
The region's fintech growth, fueled by a tech-savvy populace, robust regulations, and digital adoption, is drawing global focus, heralding the...
- The GCC countries are rapidly emerging as a leading fintech hub, revolutionizing traditional banking and financial services across the region
- The region's fintech growth, fueled by a tech-savvy populace, robust regulations, and digital adoption, is heralding the future of financial services
Electric cars credited with lower CO2 emissions in US neighborhoods
LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas,...
Business
Company News
ASML profit soars to US$8.5bn
Business
Latest News
DMCC witnesses 10 percent rise in US companies in 2023
DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in...
Business
Most Read
Economy
OPEC Fund grants US$30m loan to Uganda to build key road link
Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a...
- The construction of the road will provide better, faster and safer transport connections in the central-east region of the country
- The Islamic Development Bank (IsDB) along with the government of Uganda will co-finance the road project in the African nation
Business
L’Oreal net profit jumps 8.4%
The company's profit surged to US$6.8bn last year.
- The cosmetics giant in statement said its net profit jumped to $6.8 billion while sales grew 7.6 percent
- In North Asia, its sales fell 5.8 percent to $11.52bn, but in South Asia sales jumped 23.2 percent to $3.66bn
Business
GCC retail pins hope on customer loyalty programs
Retailers in the region are relying on card-linked offers, utilizing data analytics, mobile apps, and blockchain to enhance engagement and...
- Retailers in the region are relying on card-linked offers, utilizing data analytics, mobile apps, and blockchain to enhance engagement and personalize shopping experiences.
- The sector are overcoming integration challenges through education, and embracing new market trends like personalized offers, digital wallets, and gamification in loyalty programs.