AI can screen talent, only humans can see it
Cultural nuance matters deeply in MENA. Communication styles differ across the Gulf, the Levant, and North Africa. Comfort with camera-based...
Opinion
UAE consolidates its position as global hub for cross-border e-commerce
ABU DHABI, UAE -- The United Arab Emirates has consolidated its position as one of the world’s leading global and...
Business
1962 Ferrari auctioned for $51.7 m in New York: Sotheby’s
Dating from 1962, the legendary Scuderia sports car -- chassis 3765, four-liter engine developing 390 horsepower -- had finished second...
- The bright red roadster had been the property of an American collector for the past 38 years
- The 250 GTO went on sale Monday evening after a few minutes of bidding in the auction room
Business
Jet fuel sales to reach over billion gallons by end of 2023: ENOC
Dubai, UAE--ENOC Group will reach more than one billion gallons of jet fuel sales at the end of this year...
- The company in line with its long-term strategy intends to supply Sustainable Aviation Fuel (SAF) to Dubai Airports in 2024
- The company plans to enhance sales volume globally, apart from seeking potential acquisitions, partnerships, and greenfield projects
Business
Salman Khan’s ‘Tiger 3’ faces ban in Kuwait, Oman and Qatar
Dubai, UAE - The much-anticipated Hindi-language action film Tiger 3, starring Salman Khan and Katrina Kaif, has reportedly been banned...
- According to reports in Indian publications, concerns have been raised over the portrayal of Muslims in the film
- Critics argue that the film perpetuates Islamophobic tropes, a sentiment that might have influenced the decision to ban it in these Gulf countries
Business
Technological advances propel UAE’s payments industry
The sector's growth, driven by the transition to digital transactions and tech innovations, positions UAE as a leader in the...
- The sector's growth, driven by the transition to digital transactions and tech innovations, positions UAE as a leader in the evolving global payments landscape, says a report.
- Moreover, the Gulf country's economic expansion and changing consumer preferences towards digital payments are also leading to continuous growth of the payment industry.
Business
Turkish Airlines explore options of buying 355 Airbus jets
Istanbul, Turkey - Turkish Airlines, the country's flag carrier, confirmed on Monday that it was in talks with Airbus to buy...
- The airline said that negotiations are held with Airbus regarding the purchase of a total of 355 aircraft.
- In September, Turkish Airlines revealed plans to purchase 10 additional Airbus A350-900 aircraft
Business
Chemanol to buy stake in ACC
It will acquire 84 percent stake for US$12.3 million.
- The purchase amount would be disbursed partially and within specified intervals, as per the terms stipulated in the SPA.
- Chemanol said the acquisition is aimed at enhancing its share in the market and diversifying its product range,
Business
Emirates, flydubai among Boeing’s big customers at Dubai Airshow
Emirates, the Middle East's biggest airline, made the largest purchase with its $52 billion order for 55 Boeing 777-9s, 35...
- Budget carrier flydubai, owned by the Dubai government, ordered 30 Boeing 787-9s valued at $63 billion -- its first wide-bodied, or large-capacity planes as it plans to expand.
- Last week Emirates Group announced record half-year net profits of $2.7 billion, up 138 percent from a year earlier, driven by strong demand.
Analysis
Saudi pioneering solutions for water scarcity
The kingdom is forging partnerships with major corporations to revolutionize water technologies and achieve water self-sufficiency.
- Water scarcity is 500 cubic meters per capita, while Saudi Arabia's annual per capita share of water does not exceed 89.5 cubic meters.
- The Saline Water Conversion Corporation has signed agreements with several major corporations to tackle water scarcity.
Business
PIF to invest in Alkhorayef Petroleum, secure 25% shareholding
Riyadh, Saudi Arabia — The Public Investment Fund (PIF) has formally announced the signing of a share subscription agreement to...
- PIF secures a 25 percent shareholding in the oil and gas production optimization solutions provider, with Alkhorayef Group retaining the majority stake of 75 percent.
- Alkhorayef Petroleum specializes in artificial lift, wireline services and equipment, as well as early production facilities.
Business
ADIB lists $500m green sukuk on LSE
The bank marked the issuance of its $500 million green sukuk.
- London Stock Exchange has welcome ADIB’s listing, as the world’s first dollar denominated green sukuk.
- This follows the bank’s recent successful listing of US$750 million AT1 perpetual sukuk.
AI can screen talent, only humans can see it
Cultural nuance matters deeply in MENA. Communication styles differ across the Gulf, the Levant, and North Africa. Comfort with camera-based...
Opinion
Company News
Huawei profit tops $12bn
Business
Amanat FY 2023 revenue $195m
Business
Latest News
Bitcoin falls below $80,000 first time since November amid market volatility
Hong Kong, China -- Bitcoin sank below $80,000 on Friday for the first time in more than three months as...
Business
How cyber criminals steal cryptocurrency
Hackers from North Korea have become notorious for their sophisticated and relentless tradecraft, according to Chainalysis. Nearly 60 percent of...
Business
Billionaire Bezos announces restrictions on Washington Post opinion coverage
Washington, United States - The Washington Post will no longer run views opposed to "personal liberties and free markets" on...
Business
Most Read
Business
AI to replace 4,000 jobs in Southeast Asia’s largest bank: DBS
Singapore, Singapore -- Southeast Asia's largest bank DBS said that 4,000 jobs could be cut in the next three years...
- A Bloomberg Intelligence report last month said banks worldwide will cut as many as 200,000 positions in the next three to five years due to AI.
- Last year, the International Monetary Fund said AI could affect around 40 percent of jobs around the world.
Asian markets swing as traders assess latest tariffs volley
Asian markets were mixed Wednesday after President Donald Trump broadened his tariff threats, while traders were also assessing the geopolitical...
- Tariffs around 25 percent to be imposed on auto imports, semiconductors and pharmaceuticals
- He (Trump) risked triggering inflation, market distortions and even a global recession- China's ambassador to the WTO
Business
$2.65bn in contracts signed during first two days of IDEX and NAVDEX 2025
Abu Dhabi, UAE -- Tawazun Council, UAE's authority responsible for managing acquisitions, procurement, and contracts on behalf of the Ministry...
- Tawazun Council signed five deals worth a total of AED 5.8 billion with local and international companies on the second day of IDEX and NAVDEX 2025.
- Tawazun Council is UAE's authority responsible for managing acquisitions, procurement, and contracts on behalf of the Ministry of Defense and security agencies.