From awareness to action: How Amazon Ads is helping GCC startups scale smarter
Amazon Ads is evolving from a marketing channel into a business-building engine, helping GCC startups use full-funnel advertising, retail media...
Business
Volatility grips oil market as nervous investors assess Venezuela
Having spiked in an initial reaction to the military operation to apprehend Nicolas Maduro in Caracas, oil prices quickly dropped...
Business
Business
DEWA okays H1 dividend of $843m
The company had reported a net profit of $540 million for Q2.
- The Board of Directors of DEWA authorized the payment of H1 2023 dividend on 10th August 2023.
- On 26th October 2023, the dividend will be paid to all shareholders via Dubai CSD.
Business
Saudi Electricity Company signs $3 billion financing agreement
Riyadh, Saudi Arabia -- The Saudi Electricity Company (SEC) announced today signing a $3 billion (SAR 11.25 billion) international syndicated...
- The financing agreement has a tenure of five years and requires no guarantees from the SEC.
- Participating banks include Dubai Islamic Bank, Kuwait Finance House, Mashreq Bank and Saudi National Bank.
Business
Aramco, ENOWA ink pact
The firms will jointly establish an e-fuel demonstration plant.
- The e-fuel technology has the potential to reduce CO2 emissions by over 70 percent on a complete life cycle basis.
- The integrated facility will generate 12 tons of synthetic methanol per day from green hydrogen and CO2, using proprietary technologies.
Business
Saudi exports, services grow by 135% in Q2: Economy Minister at FII7
Riyadh, Saudi Arabia -- Saudi Arabia's Minister of Economy and Planning, Faisal F Alibrahim said Tuesday the Kingdom saw a...
- Speaking at the seventh Future Investment Initiative forum in Riyadh, Alibrahim said Saudi Arabia is seeing a diverse range of sectors fueling non-oil activity growth.
- He said the Kingdom provided one of the most investment-friendly environments in the form of cost-effective and clean energy, legislations and manpower.
Business
RSG, KHC set up joint venture
The JV will develop and own the Four Seasons Resort Red Sea.
- The anticipated luxury resort is situated on Shura Island, the main hub for Red Sea destinations.
- It will offer 149 rooms and suites, plus 31 residential properties, as well as six restaurants and lounge outlets.
Business
Saudis need $100s of billions for power investment by 2030: ACWA Power CEO
Riyadh, Saudi Arabia - Saudi Arabia is set to embark on a significant endeavor to expand its power generation capacity,...
- Saudi Arabia aims to construct 60 to 80 gigawatts of power plants utilizing renewable energy sources such as wind and solar
- To facilitate these goals, Saudi Arabia seeks to attract international investment, fostering partnerships with local companies like ACWA Power
Economy
China’s GDP rises above forecasts, boosted by robust recovery efforts
BEIJING, CHINA - China's Gross Domestic Product (GDP) grew by 4.9 percent year-on-year in the third quarter, surpassing economists' predictions...
- Analysts believe China is on track to meet its annual growth target of approximately 5 percent this year.
- Data from China’s National Bureau of Statistics revealed a 5.2 percent growth for the first three quarters.
Business
Al Seer Marine, L3Harris renew pact
They have partnered with each other for the past six years.
- Al Seer Marine said the renewal of this new agreement will capitalize on L3Harris' extensive international experience in the design and deployment of uncrewed platforms.
- It will also enhance Al Seer Marine's ability to continue manufacturing and delivering Unmanned Surface Vessels (USV) across various markets in the Gulf Cooperation Council region.
Microsoft announces $3.2 billion investment in Australia
Details of the deal were outlined by bosses at the US tech giant and by Australia's prime minister, Anthony Albanese,...
- The tech giant will expand its "hyperscale" cloud computing and AI infrastructure in Australia over the next two years
- Details of the deal were outlined by bosses at the US tech giant and by Australia's prime minister, Anthony Albanese
Business
NMDC posts bumper profits
Its revenues for the first nine months stood at US$3bn.
- The company's net profits increased 115 percent to $411 million in the first nine months of 2023
- It attributed growth in revenues and net profits to progress of the major projects underway
From awareness to action: How Amazon Ads is helping GCC startups scale smarter
Amazon Ads is evolving from a marketing channel into a business-building engine, helping GCC startups use full-funnel advertising, retail media...
Business
Company News
Latest News
DP World 2023 profit is $1.5bn
Business
Step into the future of sustainable smart city development
Pavegen, a global kinetic energy company, unveiled its innovative “Solar+” tile in Dubai. This tile harnesses the power of movement,...
UAE firms accelerate AI transformation, new report finds
The real power of AI lies in its careful deployment across diverse business functions, and the UAE is primed for...
Economy
Samsung reshuffles leadership amid challenge in AI chips
Seoul, South Korea - Samsung Electronics reshuffled its leadership on Wednesday as it looks to gain an edge in the production...
Geostrategy
Most Read
Iraq holds its first census in nearly 40 years
The Iraqi census is scheduled for Wednesday and Thursday, and will provide sorely needed up-to-date demographic data for the country...
- A count conducted in 1997 excluded the three northern provinces that make up the autonomous Kurdistan region
- Demographics are likely to have shifted with the exile of hundreds of thousands
Xi, Biden in Peru for APEC summit, pre-Trump face-to-face
uncertainty over Trump's next moves now clouds the APEC agenda -- as it does for the COP29 climate talks underway...
- President Vladimir Putin of APEC member Russia will not be present
- Trump has threatened tariffs of up to 60 percent on imports of Chinese goods
Business
TikTok makes AI driven ad tool available globally
San Francisco, United States - TikTok on Thursday began letting all marketers on its platform use an artificial intelligence-powered tool for...
- The news came with word that Getty Images will make its stockpile of pictures and video available to TikTok's AI‑powered video generation tool called Symphony Creative Studio
- Brands will be able to use Getty's licensed images and videos to create AI-generated ads, including marketing messages featuring characters resembling real people