Startups need more than funding: they need an ecosystem
Drew Propson, Head of Technology and Innovation in Financial Services at the World Economic Forum, explains how sustainable growth, AI...
Interview
Interview
‘Business-based peace initiatives to ease tensions’
The Ukraine-Russia conflict and Gaza crisis are impacting investor confidence and economies in Jordan, Egypt, and Israel, Iyad Malas, CEO...
- The Ukraine-Russia conflict and Gaza crisis are impacting investor confidence and economies in Jordan, Egypt, and Israel, Iyad Malas, CEO of Al Ghurair Group, tells TRENDS.
- Iyad Malas highlights the need for digital transformation and the importance of public-private partnerships in digital investments, notably in infrastructure and healthcare.
Business
Iran ramps up oil production to 3.4m bpd, up from 2.9m bpd
Tehran, Iran-- Iran has ramped up its oil production to 3.4 million barrels per day (bpd), up from about 2.9...
- Iran's oil minister said the boost in the production is in line with measures taken by the current government of the Islamic republic
- According to officials in the oil sector, about 40,000 bpd have been added to the country’s oil production from the Sepehr and Jafir oilfields
Business
Disney to buy stake in Hulu
It will acquire Comcast's US$8.6 billion stake in Hulu.
- The acquisition will "further Disney's streaming objectives," the company said in a press release
- The deal values Hulu at $27.5 billion in total, and the transaction will be concluded by December 1
Business
Middle East conflict alters regional energy dynamics
Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact...
- Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact of geopolitics on energy security.
- Achieving peace in the Middle East region is crucial, not just for the well-being of its people but also for maintaining global economic stability and energy security.
Business
Drought forces Panama Canal operator to cut ship traffic
Panama City, Panama - The operator of the Panama Canal, the passageway for cargo ships between the Atlantic and Pacific oceans,...
- Traffic will be reduced to 25 ships a day from Friday, down from 29, and will drop to 18 ships a day by February, the Panama Canal Authority said
- The 50-mile (80-kilometer) long waterway provides direct access between the Atlantic and Pacific oceans, bypassing the South American continent
Business
Mwani Qatar posts 39% increase in transshipment containers
Doha, Qatar -- The Qatar Ports Management Company (Mwani Qatar) announced a 39 percent increase in transshipment containers in October,...
- Mwani Qatar data released Wednesday revealed an increase in building and construction materials shipments by 21 percent.
- Vehicles and equipment shipments on the other hand increased by 8 percent to reach 6,494 units.
Business
Agreements worth $3.54bn inked at Global Health Exhibition
Riyadh, Saudi Arabia -- A total of 138 agreements, MoUs and deals worth more than SAR 13.3 billion ($3.54 billion)...
- More than 300 local, regional and international companies from 29 countries presented the latest healthcare innovations and technologies at the event.
- The exhibition, in its sixth edition, offered health practitioners 30-credit-hour of Continuing Medical Education (CME) programs.
Business
Second quarter foreign investments in Saudi Arabia hit $666bn
Riyadh, Saudi Arabia -- Foreign investments in Saudi Arabia increased 4 percent year-on-year (YoY) to SAR 2.50 trillion ($666. 39...
- The foreign investment balance recorded an increase of 5 percent quarter-on-quarter, or nearly SAR 109.9 billion.
- Foreign direct investments (FDIs) represent 41 percent, or SAR 1.02 trillion, of total investments, Argaam reported.
Business
e& net profit up 20% in Q3
The company's revenues increased by 3.3 percent to $3.64 billion.
- The company said that at constant exchange rates, consolidated revenue increased by 8 percent and consolidated EBITDA increased by 6.9 per cent.
- The number of etisalat by e& subscribers in the UAE reached 14.0 million in Q3 2023, representing an increase of 4.7 percent.
Toyota hikes annual profit forecast
The company plans a $13.9bn investment in a battery plant.
- Toyota said a weaker yen and cost-cutting efforts meant it now expects annual net profit of 3.95 trillion yen, from a previous estimate of 2.58 trillion yen
- Toyota on Tuesday said it now plans a $13.9 billion investment in a battery plant in North Carolina in US, expanding a previous commitment to spend $5.9 billion
Company News
EGA to acquire Leichtmetall
Business
Latest News
Readying for jobs of tomorrow: WEF’s Till Leopold stresses upskilling
Davos, Switzerland -- In the next five years, millions of jobs will be created. Governments, employers, and education institutions, therefore,...
World Economic Forum
Alpha Dhabi acquires interest in NCTH
The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.
Business
Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer...
World Economic Forum
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Economy
‘Middle East is a promising area with a lot of initiatives going on in the UAE, Saudi Arabia’
Beyond AI, new technologies will leverage artificial intelligence to drive the next phase of the Fourth Industrial Revolution, Alphaeus Hanson,...
- The Middle East is emerging as a key investment hub, with the UAE, Saudi Arabia, and Qatar leading ambitious initiatives, Hanson tells TRENDS in an exclusive interview
- Beyond AI, new technologies will leverage artificial intelligence to drive the next phase of the Fourth Industrial Revolution, he adds
DeepSeek sparks AI stock selloff
Global investors dumped tech stocks following the emergence of a low-cost Chinese AI assistant startup DeepSeek that would threaten Nvidia....
- Chipmaker Nvidia lost S$593 billion of its market value
- Japan's SoftBank Group finished down 8.3 percent
Business
Meraas awards construction contract
The $272m contract has been awarded for Bluewaters Bay.
- The contract is aimed at creating Dubai’s next iconic waterfront destination, with completion scheduled for Q4 2027, the company said.
- Bluewaters Bay will feature two residential towers linked by a dynamic podium, offering 678 apartments, ranging from one to four bedrooms, including penthouses.