Abu Dhabi Chamber and UAEIIC team up to boost investment
Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council...
Business
Baims acquires Orcas Edtech
Business
Bahrain Steel raises $450m SLL
Business
Lapita sees surge in leisure and wedding bookings in 2023
Dubai, UAE--Lapita, Dubai Parks and Resorts, has reported a surge in demand, bookings from across leisure and corporate segment last...
Business
Business
One fourth of all investors in state securities have left Russia: Minister
Moscow, Russia -- One fourth of all investors in state securities have been forced to leave the Russian market due...
- Russia's Finance Minister Anton Siluanov the government will find ways to replace the investors to create funds required for development of the economy.
- Moscow's incursion into Ukraine has made Russia the most sanctioned country in the world. Western nations have regularly increased the sanctions.
Business
GCC top export market for Dubai Chamber of Commerce members
Dubai, UAE -- The Gulf Cooperation Council countries were the top destinations for exports and re-exports of Dubai Chamber of...
- Saudi Arabia was named the top destination for members' exports, with the total value recording year-over-year growth of more than 15 percent to reach AED35 billion.
- Members' exports to Kuwait during H1 2023 were valued at AED12.8 billion, while exports to Qatar grew by 39.3 percent.
Business
Subway to sell for US$9bn
The fast-food chain has some 37,000 outlets across the world.
- In February, the company said it had hired JPMorgan to advise it on a possible sale, while saying it "remains committed to the future"
- A few months back, it unveiled a franchising agreement to open some 4,000 restaurants in mainland China over the next 20 years
Business
Saudi Esports Federation to launch ‘Next World Forum’ in Riyadh
Riyadh, Saudi Arabia--The Saudi Esports Federation will launch the "Next World Forum" on August 30 and 31 in Riyadh, at...
- Next World Forum will discuss opportunities in the gaming and esports industry valued to be at $170 billion globally
- The forum will also hold a discussion on the challenges women are facing in achieving leadership roles in the industry
Business
Saudi smart homes market builds on digitization drive
Saudi Arabia's smart homes market is growing due to government backing, tech advancements, and evolving consumer tastes. As the Kingdom...
- The Kingdom's smart homes market is being driven by growing affluence of Saudi population, govt emphasis on digitization, and rising popularity of smart home devices.
- With the support of govt initiatives and technological advancements, the sector is poised to play an important role in shaping the country's future urban landscape
Business
e& capital invests in Maxbyte
The funding aims to expedite growth by bolstering sales team.
- Maxbyte is a leading provider of Industry 4.0 solutions with a strong presence in the automotive, defense, utilities, and food and beverage sectors.
- It aims to enable smart connected industrial enterprise for flexibility, productivity, predictable revenue and profit growth, as well as sustainability.
Business
Facebook and Instagram users in Europe to have greater viewing control
One of the changes announced by Nick Clegg, Meta's president of global affairs, includes giving European users of Facebook and...
- Under a landmark EU law, digital giants will be forced to more aggressively police content online to protect users.
- Other changes include providing more information about how Meta's artificial intelligence systems rank content on Facebook and Instagram.
Business
Microsoft submits new Activision deal
A previous version of the acquisition deal was blocked.
- Xbox-owner Microsoft launched a bid for Activision Blizzard early last year, seeking to establish the world's third biggest gaming firm by revenue.
- Britain's Competition and Markets Authority said it has "opened a new phase 1 investigation into the restructured deal by Microsoft to buy Activision".
Business
Stocks advance but traders wary of US rates outlook, China concerns
The gains, including a jump in US tech stocks, "looked more like a correction than a reaction to fresh news,...
- The gains followed a mixed showing on Monday as investors tried to turn the tide of losses that have swept over markets in recent weeks.
- Markets globally have struggled this month on the prospect that the US Federal Reserve will hike borrowing costs once more.
Business
Ajman H1 real estate transactions increase by 15 percent to $1.95bn
Ajman, UAE -- Ajman real estate market grew 15.6 percent year-on-year to AED 7.17 billion ($1.95 billion) in the first...
- Omar bin Omair Al Muhairi, Director-General of the Department of Lands and Real Estate Regulation, said a total of 5,310 real estate transactions were recorded during this period.
- May, in particular, emerged as a notable month, witnessing a peak value of real estate transactions totaling AED1.9 billion.
Abu Dhabi Chamber and UAEIIC team up to boost investment
Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council...
Business
Company News
Baims acquires Orcas Edtech
Business
Bahrain Steel raises $450m SLL
Business
Latest News
ADQ appoints new ADX chairman
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.
Business
GCC’s F&B packaging industry transforms post-COVID
The F&B packaging industry in the region adapts to post-COVID consumer behaviors, emphasizing health, wellness, and sustainability, Abdelghany Eladib of...
Business
WEF24: Managing risks crucial amid AI advancements
AI can revolutionize work and productivity, but balanced regulation is crucial to prevent misuse, Stephen Pagliuca of Bain Capital tells...
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Business
Telegraph boss quits as UK investigates UAE-backed takeover
London, United Kingdom - The head of Britain's Telegraph Media Group has stepped down, the company announced on Friday, as the...
- TMG and parent company Press Acquisitions Limited said that chief executive officer Nick Hugh, in the post since 2017, had left his role with immediate effect
- The announcement came on the day the regulators were due to submit a review to the government laying out the potential impact of the attempted takeover by RedBird IMI
Market Report
Paris stocks hit record thanks to luxury
Europe's main stock markets shot higher, with Paris closing at a record high as shares in LVMH surged on record...
- Hong Kong stocks slumped after rallying for much of the week, as traders awaited guidance on more Chinese stimulus.
- Oil prices fell as traders banked profits from a strong week for crude.
Business
Boeing faces heat over quality control after Alaska Airlines fiasco
The Alaska Airlines episode represents the most serious operational problem for Boeing since two crashes on 737 MAX 8 planes...
- "The quality assurance issues we have seen are unacceptable," said Michael Whitaker, head of the Federal Aviation Administration
- The agency has vowed "more boots on the ground" for a comprehensive investigation of Boeing and contractor Spirit AeroSystems