ADQ launches new firm in healthcare sector
Arcera will aim to improve the quality of "human life."
Business
Expo Centre Sharjah gives peek into its plan to attract new exhibitors
Sharjah, UAE--Expo Centre Sharjah (ECS) has unveiled its future projects and forthcoming initiatives to develop and enhance the exhibitions sector...
Business
Business
Securiguard Middle East renews contract
Firm won $109 million contract extending over four years.
- The contract can be extended for an additional two years in the event of satisfactory service.
- The firm will deploy a team of over 2,000 experienced and qualified guards across Abu Dhabi.
Business
UAE stocks generate strong cash flows as DFM hits 8-month high
Abu Dhabi, UAE--UAE stock markets Thursday continued to capitalize on improved investor sentiments, defying US Fed's decision to keep interest...
- Energy, banking and real-estate stocks lead the gainers in the capital's bourse as Emaar drove DFM to an 8-year high of 4,179.680 points
- In Abu Dhabi, Index FADGI closed 0.239% higher at 9,845.990 points, buoyed by robust trading over real estate giant Aldar Properties which ended 7.9% up
Business
Microsoft to offer OpenAI’s Dall-E 3 in Bing
Microsoft has bet big on AI, notably with a $10-billion envelope dedicated to its partnership with OpenAI, and is now...
- Two versions of Dall-E were developed by OpenAI and presaged the massive explosion of interest in generative AI that came when it released ChatGPT late last year
- Dall-E uses machine learning technology to generate digital images from natural language descriptions and the third version, due to be released in October
Geostrategy
Agriculture deals worth $471m inked at China-Arab States Expo
Beijing, China -- A total of 34 deals worth approximately AED1.73 billion ($471 million) were signed at the conference on...
- Last year, trade value of agricultural products between China and Arab countries reached US$5 billion (AED18.36 billion).
- China has held nearly 500 training sessions for nearly 10,000 agricultural officials and technical staff from 22 Arab League member countries.
Business
YouTube announces new AI products for content creation with focus on MENA
New York, United States - YouTube has unveiled a suite of innovative AI-powered tools aimed at revolutionizing the world of...
- The AI-driven capabilities promise to unleash new avenues of creative expression, simplify the content creation, and extend the reach of YouTube creators
- YouTube is also rolling out "Aloud," an AI-powered dubbing tool aimed at enabling creators to reach audiences beyond their primary language
Business
Yahsat bags $5.1 bn satellite capacity contract from UAE govt
Dubai, UAE - Yahsat Government Solutions (YGS), the government services arm of Yahsat has been awarded $5.1 billion satellite capacity...
- The development reinforces Yahsat's long-standing partnership with the UAE Government, extending back nearly two decades since the company's inception
- The contract boosts the Group's contracted future revenues to AED 25.7 billion (USD 7.0 billion), providing financial stability and visibility well into the future
In war-scarred Iraqi city, food business gives women independence
Only slightly more than 10 percent of Iraq's 13 million women of working age are in the job market, according...
- Abir Jassem is now one of some 30 employees of "Taste of Mosul", which celebrates local delicacies and was founded in 2017 after northern Iraqi metropolis was liberated from IS
- Launched with just two cooks, the initiative has since grown and most of the workers -- cooks as well as two deliverywomen -- are widowed or divorced
Business
Cybersecurity vital for UAE’s banking, customer trust
"The banking and financial sector, being a prime target for cybercriminals, necessitates evolving solutions and strategies for protection. Regulatory compliance...
- Cybersecurity is paramount to the banking sector, a crucial driver of the global economy, says UAE Banks Federation Director-General Jamal Saleh
- The digital age has transformed financial transactions and asset management, making the protection of our financial systems essential, he adds
Business
Cash transactions dominate Dubai’s property market
This trend, driven by affluent investors and global rate hikes, underscores the city's robust economic allure and the confidence investors...
- This trend, driven by affluent investors and global rate hikes, underscores the city's robust economic allure and the confidence investors place in its property market
- Dubai's elite neighborhoods see a 49% annual growth in prime values, with current cash purchase rates at historic highs, surpassing even pre-2008-09 levels
Business
MODON inks $133 m pact
The pact will help manufacture vaccines in Saudi Arabia.
- MODON and Vaccine Industrial Company will set up a joint venture factory in Sadeer City to strengthen the pharmaceutical security system.
- It is in line with MODON's strategy to create an integrated industrial and investment community to attract national and foreign investor partners.
ADQ launches new firm in healthcare sector
Arcera will aim to improve the quality of "human life."
Business
Company News
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Bayer to cut jobs in Germany
Business
Investment in Qatar free zones reaches US$1.3bn, says QFZ chairmanÂ
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...
Business
European markets surge as US jobs data batter rate cut hopes
"The markets continue to forge ahead despite a blowout jobs report from the US last Friday which seems to have...
Business
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48 Middle East and North Africa IPOs raise $10.7bn in 2023: Report
Five listings, mainly in the energy and logistics sectors, contributed 58 percent towards the total IPO proceeds raised, said the...
- During Q4 2023, 19 IPOs raised US$4.9bn in proceeds. ADES Holding Company raise the most funds and contributed 25% to the overall IPO in Q4.
- Saudi Arabia dominated IPO activity in the region with 14 of the 19 listings in Q4 2023. ADES was the biggest with US$1.2bn in proceeds.
Business
Total M&A market drops to US$3.2trn in 2023, says report
DUBAI, UAE - The total M&A market dropped 15 percent, to US$3.2 trillion, the lowest level in a decade, as...
- Many of the assets that did not come to market last year will fuel active dealmaking in 2024.
- The collapse of technology M&A has been the biggest drag on strategic mergers and acquisitions.
Business
Mubadala invests in Manipal Health
Manipal Health offers multispecialty care through 30 hospitals.
- Temasek, a Singapore-headquartered global investment company, will continue to hold a majority stake in Manipal.
- Employing more than 5,000 doctors, the company is India’s second-largest hospital chain by number of beds.