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
Middle East to receive millions of Chinese tourists lost in Covid pandemic
Dubai, UAE-- Outbound travel from China is estimated to almost double this year, compared with 2023 and will only be...
Business
Business
SAB sees $26m negotiated deal
The deal does not directly impact the last deal price.
- A negotiated deal involves a stock purchase based on a bargain between buyers and sellers, apart from the market price, Argaam reported.
- Saudi Awwal Bank reported a net profit of SAR 3.314 billion ($883 million) for the first half of 2023.
Business
Rival branches of Central Bank of Libya reunite
Libya's central bank announced that its two rival branches in the west and east are reuniting after nearly a decade...
- Libya has seen 12 years of stop-start conflict since the 2011 NATO-backed revolt that toppled strongman Moamer Kadhafi.
- The Central Bank of Libya said it has "again become a unified sovereign institution", in a statement issued by the governor and his deputy.
Business
NDF helps in financing of US$2.2bn renewable energy project
RIYADH, SAUDI ARABIA - The National Development Fund (NDF) on Sunday said it will contribute US$453 million (SAR1.7 billion) to...
- This is one of the world’s largest renewable energy projects, developed through joint venture by Saudi Aramco, Badeel and ACWA Power.
- NDF's US$453 million financing commitment has attracted local and global banking groups in the Kingdom’s high-growth infrastructure market.
Business
Iran-European Union trade reaches $2.5 billion in first half of 2023
Tehran, Iran -- Trade between Iran and the European Union member states reached 2.3 billion euros ($2.5 billion) in the...
- Iran-EU trade exchanges declined by 10 percent compared to the last year’s corresponding period.
- Germany, Italy and the Netherlands accounted for most of the export of products to Iran from January to June 2023.
Business
Bread-short Tunisia to restore flour supply to some bakeries
Since the beginning of August, European-style bakeries selling baguettes in the formerly French-ruled country had been prevented from accessing their...
- Days later those same bakeries also stopped receiving non-subsidized flour and semolina from the state, which controls the supply of all such essential goods in the country.
- Economists attribute the bread shortage partly to speculation but, more broadly, to the lack of cereals. Tunisia's debt is around 80 percent of gross domestic product.
Business
Brazilian exports to Arab countries up 8% in seven months
Dubai, UAE -- The Arab Brazilian Chamber of Commerce (ABCC) recorded a surge of 8 percent in Brazilian exports to...
- Brazilian exports to the the kingdom totaled to $1.873 billion in the first seven months of 2023, while exports to exports to the United Arab Emirates amounted to $1.646 billion.
- Kuwait also witnessed an increase in the Brazilian exports, which amounted to $157.78 million during this period.
Geostrategy
Hungarian companies want to expand work in Russia, says PM Orban
BUDAPEST, HUNGARY – Hungarian Prime Minister Viktor Orban said that companies from his country plan to expand their activities in...
- Hungarian Prime Minister Viktor Orban made the statement at a meeting with the head of Russia’s Tatarstan region Rustam Minnikhanov in Budapest.
- The head of Tatarstan came to Budapest at the invitation of Orban in connection with the Hungarian national holiday, St. Stephen's Day.
Economy
Indonesia president to participate in BRICS summit in South Africa
Jakarta, Indonesia--Indonesian President Joko Widodo departed for South Africa on Sunday to attend the BRICS summit in Johannesburg amid speculation that...
- Before leaving for the BRICS summit, Widodo told reporters that apart from attending the event he will also meet with other world leaders
- Launched in 2009, BRICS aims to tame Western economic domination in global affairs, much to the consternation of the Western political leadership
Business
Al Hilal wins over Fulham striker Mitrovic for US$64m
Saudi Arabia's football clubs continue to win over global stars with Serbian forward Aleksandar Mitrovic becoming the latest player to...
- Fulham said in a statement that it can confirm that Aleksandar Mitrovic has this evening left to join Al Hilal for a record transfer fee
- Mitrovic will be Al Hilal's latest high-profile signing after their swoops for stars like Neymar Neymar, Kalidou Koulibaly and others
Geostrategy
UAE takes part in G20 joint health-finance ministers meeting  Â
GANDHINAGAR, INDIA - Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini and Assistant Minister of Foreign Affairs...
- The meeting discussed the progress made by the Joint Finance and Health Task Force (JFHTF) this year.
- The UAE participated in the three meetings that the Task Force held this year under the G20 Finance Track.
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
Company News
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Cisco identifies major AI trends for 2024
DUBAI, UAE – Developments in Artificial intelligence (AI) have been impacting businesses, governments and economies across the world. Advancements in...
Business
JADCO, EGG ink MoU on development of agriculture in Saudi Arabia
RIYADH, SAUDI ARABIA - The Ministry of Environment, Water and Agriculture witnessed the signing of a memorandum of understanding (MoU)...
Business
Dubai records weeklong real estate deals worth $3.86 billion
Dubai, UAE -- The real estate and properties transactions valued at AED 14.2 billion ($3.86 billion) in total during the...
Business
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Geostrategy
Apple to make changes to App Store in Europe
iPhone users can download alternative app stores.
- The changes expected to take place in March will curtail the dominance of the App Store
- The company said on Thursday the Digital Markets Act has created "privacy and security risks"
Business
Global Islamic finance market to touch US$4.9trn in 2025, says Malaysian official
Hong Kong-- The global Islamic finance market would touch US$4.9 trillion by 2025, according to Yazrin Syakhairi, Malaysian Trade Commissioner...
- The official said the Islamic finance market is seeing significant and rapid growth worldwide, surpassing the size of US$2.2 trillion in 2022
- He said the Islamic finance industry has seen a noticeable growth in the Middle East and the Association of Southeast Asian Nations (ASEAN)
Business
Alaska Airlines to take US$150m hit
It grounded the Boeing 737 MAX after in-flight safety episode.
- The airline's financial hit is the latest ripple effect from the episode, which prompted regulators to ground 171 MAX 9 planes
- With 65 planes affected by the grounding, Alaska Airlines expects to bring the jets back into service beginning Friday