China records expansion in factory activity for first time in six months
Shenzhen, China--China's manufacturing activity expanded for the first time in six months in March.The official purchasing managers' index (PMI) rose...
Economy
Digital transformation fuels GCC banks’ growth
The banking sector across the GCC has demonstrated formidable growth and profitability, with Qatar leading in several key performance indicators,...
Business
Business
Sharjah Social Security Fund offers service period purchase option
SHARJAH, UAE - The Sharjah Social Security Fund (SSSF) has allowed the possibility of acquiring the service period for insured...
- This move aligns with the fund's strategies aimed at enhancing the well-being of employees and providing them with opportunities to boost their pensions.
- The fund said it is allowed to procure the service period for insured employees after they have completed a minimum of 20 years of actual service.
Business
Saudi-China Entrepreneurs Association and HKTDC sign MoU
Hong Kong - The Saudi Arabia-China Entrepreneurs Association (SCEA) has signed a Memorandum of Understanding (MoU) with the Hong Kong...
- The MoU between SCEA and HKTDC aims to fortify commercial ties, particularly aiding startups and service providers eyeing global expansion.
- The agreement was signed during the eighth Belt and Road Summit, a two-day event themed "Ten Years of Cooperation for Mutual Benefit".
Business
Aramco expands into South American retail market with Esmax buyout
Riyadh, Saudi Arabia - Aramco, one of the world’s leading integrated energy and chemicals companies, has announced its agreement to...
- The development aligns with Aramco's broader strategy of bolstering its presence in the downstream sector worldwide
- The acquisition comes on the heels of Aramco's earlier purchase of Valvoline Inc.'s global products business in February 2023
Business
Google gives select companies access to its Gemini AI
The company plans to make Gemini available through its Google Cloud Vertex AI service, and will offer access to models...
- The company is close to incorporating it into its consumer services and selling it to enterprises through Google Cloud
- Google has also invested in generative AI companies Anthropic and Runway, gaining them as cloud customers
Opinion
MEA brands focus on personalized customer experience
"Post-Covid GCC travel trends are promising: about 50% of customers plan to increase digital spending in travel and retail. With...
- In the digital era, customer engagement is vital, shifting from transactional ties to interactive bonds; 20% of engaged patrons drive 80% of sales through endorsements
- Post-Covid, travelers see personalized offers, not just reminders; 34% might switch due to poor communication; GCC sees rising digital spend; CEPs promote sustainable growth.
Business
Oil prices at a crossroads as production cuts persist
Oil stocks drop as Saudi Arabia and Russia extend a 1.3 million barrel per day oil supply reduction, leading to...
- Oil stocks drop as Saudi Arabia and Russia extend a 1.3 million barrel per day oil supply reduction, leading to an anticipated market deficit until 2023-end, says a report
- Refineries grapple with material changes and disruptions as Russia's diesel export reduction boosts futures prices and OPEC+ cuts drive high oil prices during Q3 of 2023
Geostrategy
Europe’s tussle with Big Tech involves dominance, data, disinformation
Paris, France - Irish regulators on Friday handed out a 345-million-euro ($369-million) fine to TikTok over data breaches, part of a...
- Ireland issues the most stringent fines on this front as Dublin hosts the European offices of several big tech firms and data privacy is enforced by local regulators.
- The EU has had little success in getting tech companies to pay more taxes in Europe, where they are accused of funneling profits into low-tax economies.
Geostrategy
UAE, China’s Hainan Province ink multiple deals to boost trade, economic ties
DUBAI, UAE - The UAE and China's Hainan Province have signed four major private-sector agreements aimed at boosting the rapidly...
- UAE Minister of State for Foreign Trade promoted the country’s unrivalled access to global markets, which have been enhanced by CEPA program.
- He highlighted the growing relationship between Hainan and the UAE, which resulted in bilateral non-oil trade doubling in 2022 to reach $900 million.
Business
Chimera launches Lunate
Lunate has more than $50bn in Assets Under Management.
- With a focus on private markets, Lunate is an independent entity owned by Chimera Investment and Lunate’s senior management.
- Lunate, which will be based in Abu Dhabi Global Market, has signed long-term Separate Managed Accounts (SMAs) with multiple clients.
Business
Qatar’s Hamad International Airport named world’s second-best
London, United Kingdom -- Qatar's Hamad International Airport has been named as the best airport in the Middle East, and...
- At this year's Business Traveller Awards, the airport was also named as the best in the Middle East.
- After a multi-billion-dollar overhaul last year, the airport raised its capacity from 40 million passengers a year to 58 million.
China records expansion in factory activity for first time in six months
Shenzhen, China--China's manufacturing activity expanded for the first time in six months in March.The official purchasing managers' index (PMI) rose...
Economy
Company News
WTO hopes to finalize fishing agreement
Geostrategy
Latest News
Goldman Sachs profits up 58%
Business
‘AR, VR and video analytics shaping imaging industry’
Canon focuses on innovation, integrating AI-driven features, deep learning and machine learning to meet changing customer needs, says a top...
Interview
UAE is the most popular destination for global workers, says report
Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report...
Business
EU gives accent to landmark rules on artificial intelligence
Brussels, Belgium - The European Union's 27 member states on Friday approved landmark rules on reining in artificial intelligence, passing a key...
Business
Most Read
Business
Qatar records real estate deals worth $100 million in five days
Doha, Qatar -- Qatar has recorded real estate transactions worth 378 million QR ($100 million) during the 21-25 Jan 2024...
- Sales were concentrated in, Doha, Al Rayyan, Al Daayen, Umm Salal, Al Wakrah, Al Shamal municipalities, and in the Pearl Island, Lusail 69, Legtaifiya, and Al Kharayej Zones.
- The volume of real estate trading in sales contracts at the department during the Jan 14-18 period exceeded QR 344 million.
Economy
Qatar Central Bank issues treasury bills, sukuk worth US$686m
DOHA, QATAR - The Qatar Central Bank issued treasury bills and sukuk with maturities of one week, one month, three...
- The Qatar Central Bank said the total bids for the treasury bills and Sukuk amounted to US$2.2 billion (QR 8.275 billion).
- QCB issued treasury bills and Sukuk with maturities of one week, one month, three months, six months and nine months.
Geostrategy
UAE signs pact to develop digital infrastructure in Greece Â
ABU DHABI, UAE - The Ministry of Investment of the UAE and the Ministry of Digital Governance of the Hellenic...
- Data centers to be developed under this MoU can reach a total capacity of 500 megawatts.
- The data center market in Greece has witnessed significant growth in the last few years.