Sheikh Hamdan praises ADNOC’s efforts in using AI in production process Â
ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...
Business
GASTAT issues FDI statistics of Saudi Arabia for Q4 2023
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) issued on Friday the Foreign Direct Investment (FDI) statistics for...
Economy
Economy
Global food prices drop in August: FAO
Led by staples other than rice and sugar, the Food and Agriculture Organization of the United Nations revealed that its...
- Its Cereal Price Index dropped by 0.7% from July and International wheat prices dipped by 3.8% in August
- But in contrast, the FAO All Rice Price Index climbed up by 9.8% from July to reach a 15-year nominal high
Geostrategy
UAE President, Indian Prime Minister discuss strengthening bilateral, trade ties
NEW DELHI, INDIA - UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met to...
- The meeting was held on the sidelines of the 18th Group of 20 (G20) Heads of State and Government Summit in New Delhi.
- The two sides also exchanged views on various regional and international developments of mutual interest.
Business
Jordan-ASEAN Economic Forum to be held in March 2024, says ACC
AMMAN, JORDAN - Chairman of the Amman Chamber of Commerce (ACC) Khalil Haj Tawfiq said the Jordanian Economic Forum with...
- ACC will host the forum, in cooperation with Malaysia, Indonesia, the Philippines, Thailand and Sultanate of Brunei.
- Trade exchanges between Jordan and ASEAN grew by 42 percent during 2022, compared to 2021, ACC's statistical data said.
Business
ADNOC looks to buy Covestro
The German firm will hold "open-ended" talks with ADNOC.
- ADNOC said in mid-August that it was willing to make a new improved proposal to Covestro of $12.4 billion if it would get talks moving
- The talks between the two come as the vital German chemicals industry, which accounts for about five percent of the country's GDP, is gripped by crisis
Economy
Data, rail, electricity key focus as G20 eyes EU-Middle East-India trade plan
Major G20 partners are set to unveil ambitious plans on Saturday to enhance trade among India, the Middle East, and...
- Washington, Saudi Arabia, the EU, the United Arab Emirates and others will sign the deal on the sidelines of the G20 summit in New Delhi
- Washington actively prods Riyadh - a major oil producer and security partner - to normalize ties with Israel after decades of conflict and closed borders
Business
Russia’s largest bank launches new services in Iran
Tehran, Iran--Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to the Islamic...
- According to the bank, the service would be available to both individuals and businesses using their Sber account
- Last year, Russia’s second-largest bank VTB launched a similar service and then in May it opened a branch in the country
Business
Alif debuts in the UAE with Alif pay launch
Dubai, UAE - Alif, a Central Asian fintech leader, is expanding its presence into the United Arab Emirates (UAE) with...
- Among the services that Alif Pay will introduce in the UAE are "Send Now Pay Later," a payroll platform, a travel prepaid program, "Buy Now, Pay Later"
- According to data from the World Bank, outward remittances from the UAE reached an impressive $47.54 billion in 2021, with expectations of continued growth
Business
Dubai real estate sales up despite price rise since January 2020
Dubai, UAE – The Dubai Land Department (DLD) reported over 3,200 transactions worth AED 24.7 billion last week and this...
- Research show real estate transactions soared by 44 percent in the first six months of 2023 with nearly 60,000 units being sold.
- Several industry analysis indicate that the real estate sector in the emirate will observe growth of approximately 15 percent in 2024.
Business
Qatar realty market trading volume $277 million in August
Doha, Qatar -- Qatar real estate market recorded deals worth QR1.011 billion ($277 million) in the month of August 2023,...
- The real estate market index for the month of August revealed that the financial value of Doha municipality's transactions amounted to QR 290 million.
- Of the 10 most expensive properties sold in the month, Doha accounted for seven and Al Rayyan, Al Wakrah and Umm Salal one each.
Business
Russia’s Sberbank launches new tourism-oriented services in Iran
Tehran, Iran -- Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to...
- According to Sber, ruble transfers will be sent to the Iranian Pasargad Bank with the standard commission for international transactions of 1 percent. Â
- Last December, Russia’s second-largest bank VTB launched a similar service in Iran and later in May it opened a branch in the country.
Sheikh Hamdan praises ADNOC’s efforts in using AI in production process Â
ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...
Business
Company News
Five killed in clashes near Lebanon border
Geostrategy
PureHealth buys Circle Health
Business
Latest News
Abu Dhabi records real estate deals worth $1.36 billion in Jan
Abu Dhabi, UAE -- Real estate transactions in the Emirate of Abu Dhabi amounted to over AED 5 billion ($1.36...
Business
Shell annual profit drops to US$19.4bn
Its revenue dived almost a fifth percent to US$316.6 billion.
Business
Shares in India’s Paytm dive 20%
Banking arm asked to stop accepting fresh deposits.
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The DCO Council announces multilateral initiatives to bridge digital divide
Manama, Bahrain - The Digital Cooperation Organization (DCO), a global intergovernmental organization dedicated to fostering digital prosperity for all by...
- Topics of discussion included cross-border market growth; the value of data; human-centric and sustainable digital economy
- The DCO Council also announced the joining of Bangladesh, Qatar, and Greece as the new member states
Business
Air cargo demand rebounds in 2023 amid economic uncertainty
Geneva, Switzerland-- Air cargo demand rebounded in 2023 with a particularly strong fourth quarter performance despite economic uncertainties, according to...
- Carriers across the Middle East recorded a jump in demand of 1.6 percent for international operations in 2023 compared to 2022
- Airlines in the region posted an 18.3% increase in December in demand for both global and international operations compared to 2022
Business
Rise of GenAI boosts phishing threats during holidays
The sophistication of GenAI-driven phishing attacks requires robust security, including advanced DDoS protection and proactive cyber resilience strategies, says an...
- The sophistication of GenAI-driven phishing attacks requires robust security, including advanced DDoS protection and proactive cyber resilience strategies, says an expert.
- Emad Fahmy of NETSCOUT recommends establishing strong passwords, exercising caution online, and extensive use of VPNs to enhance cybersecurity amid rising threats.