Bayanat, Yahsat shareholders to vote on merger and creation of SPACE42 on April 25
ABU DHABI, UAE – Bayanat AI PLC and Al Yah Satellite Communications Company each issued a circular on Thursday calling...
Business
Microsoft hires DeepMind co-founder to lead AI unit
Of all the tech giants, Microsoft has moved the fastest into adopting generative AI, integrating its powers into a whole...
Business
EdVentures and VMS partner to propel EdTech industry in the MENA region
Dubai, UAE - EdVentures, an Edtech corporate venture capital firm in the MENA region, has announced a strategic partnership with...
- The partnership between the two companies will allow both companies to support a greater number of Edtech startups
- EdVentures will provide startups with its specialized incubation while VMS will leverage its network to offer essential guidance and mentorship
Economy
Dubai Chambers to host two-day event in November on global trade
Dubai, UAE-- Seeking to forge partnerships around the world, Dubai Chambers will host a two-day event in November this year...
- The two-day event running under the theme of "Shifting Economic Power" Dubai and the future of global trade" will be held at Madinat Jumeirah
- The occasion will see leaders from sectors as diverse as technology, retail, finance, travel and hospitality, real estate, and healthcare
Business
ADNOC Gas signs deal with IOCL
It will export annually up to 1.2m metric tonnes of LNG.
- The 14-year agreement is valued in the range of $7 billion to $9 billion, signifying a major step in the partnership between the two industry players
- The deal marks another milestone for ADNOC Gas to expand its footprint around the globe, reinforcing the company's position as an LNG exporter
Business
Sharjah nurturing publishing sector for five decades
“Sharjah has hosted the world’s largest book fair in terms of buying and selling of copyrights, developed pioneering business solutions...
- Sharjah Book Authority's contributions remain crucial in achieving cultural goals, says SBA Chairperson Sheikha Bodour Al Qasimi
- Sheikha Bodour emphasizes the vision and need to build Sharjah as a global beacon of knowledge, creativity, and innovation
Business
Sharjah records first half real estate deals worth $3.65 billion
The city of Sharjah accounted for the largest (3,794) share of the transactions.
- A total of 40,483 transactions took place in the first half of 2023, and the value of real estate mortgages amounted to AED4.1 billion ($1.12bn)
- The number of sales transactions in the various regions of the emirate during H1 2023 reached 4,187 transactions, with a value of AED5.7 billion ($1.55bn)
Business
Saudi Arabia’s exports to Turkey hit $13.93 billion in three years
Riyadh, Saudi Arabia -- Saudi Arabia’s exports to Turkey during the past three years amounted to SAR 52.280 billion ($13.93 billion),...
- Saudi exports largely comprised plastics, metal products, organic chemical products, steel, precious metals and stones.
- A total of 1,140 companies Saudi companies have invested in several sectors in Turkey, with investments surpassing $18 billion.
Business
QatarEnergy 2022 net profit $42.46bn
QE is working to increase LNG production capacity by 64%.
- The company's bumper profits sprang from an increased demand for liquefied natural gas (LNG) spurred by Russia's invasion of Ukraine.
- Nearly 40 percent of all LNG in the international market will come from QatarEnergy by 2029
Business
Masdar City to have Middle East’s first high-speed hydrogen refueling station
Abu Dhabi, UAE -- Abu Dhabi National Oil Company (ADNOC) has commenced the construction of the Middle East's inaugural high-speed...
- The station, situated in Masdar City and spearheaded by ADNOC, will utilize an electrolyser powered by clean grid electricity to produce clean hydrogen from water.
- Upon completion later this year, ADNOC Distribution will assume operational responsibilities for the refueling station in Masdar City.
Markets drop as China growth worries offset Fed rate hopes
Regional traders extended Monday's retreat sparked by disappointing second-quarter data out of Beijing that missed forecasts badly and highlighted the...
- Hong Kong led losses Tuesday, shedding more than two percent following a five-day rally, as it reopened a day after being shut because of a severe storm
- Shanghai, Sydney, Seoul, Singapore, Manila, Jakarta, Wellington and Taipei also dropped, though Tokyo, Mumbai and Bangkok edged higher
Economy
Qatari small and medium-sized companies sign deals worth US$201m in H1
Doha, Qatar--Small and medium-sized companies in Qatar have signed deals worth $201 million during the first half of 2023, benefiting...
- Tasdeer said that many Qatari companies took part in international exhibitions and trade missions, including Gulf and Arab markets as well as Turkey and India
- It is eager to continue its programs seeking to accelerate the development of the private sector in line with the National Vision of Qatar 2030
Bayanat, Yahsat shareholders to vote on merger and creation of SPACE42 on April 25
ABU DHABI, UAE – Bayanat AI PLC and Al Yah Satellite Communications Company each issued a circular on Thursday calling...
Business
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Mawani reports rise in container handling
The growth aligns with the aims of national logistics strategy.
Business
Disinformation, misinformation hurt global businesses
"These risks are serious because they limit our ability to tackle the big global challenges we are facing. Changes in...
Opinion
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Geostrategy
Shell halts Red Sea shipments over attack fears, say report
WASHINGTON, US - British oil giant Shell has paused transit through the key Red Sea shipping route indefinitely, over fears of...
- The worries of escalation grew after United States and United Kingdom strikes on scores of sites in rebel-held Yemen.
- The Houthis have been targeting what they deemed Israeli-linked vessels, but after the strikes, they declared US and British interests "legitimate targets."
Business
Emirates to recruit 5,000 crew members in 2024
DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s.The airline is...
- The airline is inviting fresh graduates with internships or part-time jobs on their résumés.
- It is inviting individuals keen to embark on an exciting career travelling the globe. .
Business
Nespresso faces $330 m lawsuit in Switzerland over capsules
Zurich, Switzerland - A French television star and a group of investors are demanding 280 million Swiss francs ($330 million) from...
- A French television show host Jacques Essebag, who goes by the name Arthur, is leading the suit against the Nestle subsidiary
- Nespresso, when contacted by AFP, acknowledged the lawsuit filed by ECC but said it did not comment on ongoing legal proceedings