China’s Xiaomi to enter EV market
China's EV sector has grown rapidly in recent years.
GenAI set to bridge cybersecurity skills gap by 2028
As GenAI narrows cybersecurity skills gap, organizations will prioritize aptitude over specialized education, adapting hiring practices to meet demands of...
Business
Meta’s Twitter rival Threads launches web version
One measure of usership, by company Similarweb, showed that daily active users on the Android version of Threads dropped to...
- A web version of Threads is seen as key to attracting professionals and media types who are the most active users of social media
- The rival to Twitter (now called X) was rushed out in early July by Meta, which invited its more than a billion Instagram users to download the app
Economy
Iraq and Turkmenistan reach preliminary agreement on gas import
Baghdad, Iraq - Iraq has signed a preliminary agreement with Turkmenistan to import gas. The agreement signed by the undersecretary...
- Turkmenistan is known for its status as a key gas producer regionally and globally
- The country’s natural gas reserves are estimated at 50 trillion cubic meters
Business
$73 bn in saving deposits held by UAE banks during H1 2023
Dubai, UAE - Savings deposits held by UAE banks, excluding interbank deposits, totaled approximately $73.01 billion (AED268.6 billion) by the...
- The saving deposits experienced a monthly growth rate of 5.8%, equivalent to an increase of around $4.02 billion
- The UAE Dirham accounted for the largest portion, constituting about 81.6% of the total, which is approximately $178.71 billion
Geostrategy
Iran’s BRICS membership to strengthen group, says XI
TEHRAN/ JOHANNESBURG, IRAN/ SOUTH AFRICA - The Iranian and Chinese presidents stressed the need to bolster bilateral cooperation and the...
- The BRICS heads of state held their 15th annual summit in Johannesburg.
- The heads of state called for the use of local currencies to facilitate trade.
Business
Saudi EXIM Bank, Evonik sign pact
The insurance policy will protect the risk of non-payment.
- The agreement was signed by the CEO of Saudi EXIM Bank, Saad Al-Khlab, and the General Manager of Evonik Industries, Abdulmohsen Al-Muhaidib.
- Al-Khlab said the collaboration is an extension of the bank's commitment to bolster the export endeavors of national institutions.
Arts & Culture
Most expensive American falcon sold for $146,000 at Saudi auction
Riyadh, Saudi Arabia -- An American pure ultra-white falcon cherrug sold for SAR550,00 ($146,000) at the third edition of the...
- The most expensive falcon, known locally as a Hur, belongs to the American MGE farm. It measures 18 inches in length and 18.5 inches in width and weighs 1.4kg.
- The bidding for the falcon started at SAR200,000 before being sold for SAR550,000 ($146,000).
Business
HR ministry and Bayt.com sign MoU to boost talent retention in UAE
Abu Dhabi, UAE -- The Ministry of Human Resources and Emiratization (MoHRE) of the UAE and job search and recruitment...
- The MoU was signed by Khalil Al Khoori, Undersecretary of MoHRE for Human Resources Affairs, and Rabea Ataya, CEO of Bayt.com.
- The UAE was ranked second globally across five indices within the World Competitiveness Yearbook 2022 such as the percentage of expatriate workforce.
Business
Dubai Chambers saves water, works on sustainability agenda
DUBAI, UAE - Dubai Chambers has contributed to the emirate’s drive for sustainability by saving a total of 72,239 litres...
- The savings were achieved as part of the chambers’ participation in Dubai Can, a sustainability initiative launched by the Crown Prince of Dubai.
- Dubai Can is aimed at educating and mobilising all segments of society to reduce waste and protect the environment.
Business
Vietnam’s VNG files for US IPO
VNG operates music streaming, mobile payment and online games.
- Its Zalo is one of the most popular messaging platforms in the country, with 75 million monthly active users.
- VNG plans to sell nearly 22 million shares in the IPO, according to a US Securities and Exchange Commission filing, with the proposed price range not yet set.
Business
Google unveils changes before strict EU rules kick in
EU rules will apply from Friday to Google, alongside 18 other large social media platforms and websites including Meta-owned Instagram,...
- Google's latest steps include expanding its "Ads Transparency Center", where users will find more information about targeting for ads in EU
- It would publish transparency reports with extra information about how content moderation has been handled for more of its services
China’s Xiaomi to enter EV market
China's EV sector has grown rapidly in recent years.
Company News
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Egypt’s wheat and oil reserves sufficient for several months, says minister
Cairo, Egypt-- Egypt has enough reserves of wheat to last it for many months, according to Dr. Ali Al-Moselhi, the...
Economy
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WEF24: DCO leads in bridging global digital divide
Digital Cooperation Organization's initiatives are key to empower emerging economies through digitalization's full potential, its Secretary General Deemah AlYahya tells...
- Digital Cooperation Organization's initiatives are key to empower emerging economies through digitalization's full potential, its Secretary General Deemah AlYahya tells TRENDS.
- Actively working towards a more cooperative and digitally inclusive future, the DCO is a pivotal player in the digital arena, she adds on the sidelines of the World Economic Forum.
Business
Oman’s MSX-listed banks see 18.6 percent net profit growth in 2023
MUSCAT, OMAN - Omani banks listed on the Muscat Stock Exchange (MSX) recorded net profits of US$1.17 billion (RO453.5 million)...
- The banking sector benefited from economic growth, foreign trade, investment, government revenues.
- The preliminary financial results showed that all seven banks listed on MSX posted higher profits.
Business
Oil sees fluctuating prices, shifting output trends
The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.
- The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.
- OPEC+ continues to dynamically adjust production, with US output reaching a record high and global demand growth led by non-OECD regions.