Bahrain and France sign MoU to boost tourism education
Lyon, France--Vatel Hotel and Tourism Business School Bahrain signed a memorandum of understanding (MoU) with EKLYA School of Business in...
Business
Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...
Business
Business
Aston Martin, Lucid Group sign deal
Lucid Group to help make Aston Martin's luxury 'green' cars.
- California-based Lucid will supply technology, including battery systems, for cash and shares worth about $232 million.
- News of the tie-up, subject to shareholder approval, sent Aston's stock ten percent higher to 360 pence on the rising London stock market.
Business
Japan fund to buy out JSR
Japan Investment Corporation hopes to finalize the deal by December.
- JSR is a market leader in the manufacture of materials including photoresists for circuit formation, which are central to producing semiconductors.
- JIC is an investment fund founded in 2018, with the government as the majority investor, along with smaller private-sector partners.
Business
ADNOC Distribution, HPCL ink agreement
Will help to enhance efficiency of overseas operations.
- With an annual demand of three billion liters, India is among the world’s most significant markets for lubricants.
- ADNOC Distribution aims to enter this dynamic market, gaining access to a vast network of over 28,000 retail stations.
Opinion
Act wise as institutional investors fuel Bitcoin’s rise
This trend has been particularly emphasized with Blackrock, one of the world's most influential fund managers, applying for what could...
- As Bitcoin charts an impressive course, hitting a 12-month high, one major catalyst can be attributed to the growing interest of institutional investors in the cryptocurrency
- This trend has been particularly emphasized with Blackrock, one of the world's most influential fund managers, applying for what could be the US's first Bitcoin spot ETF
Business
Bahrain central bank $185m Treasury bills oversubscribed 109%
Manama, Bahrain -- Treasury bills valued at Bahrain Dinar 70 million ($185 million) issued this week by the Central Bank...
- The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of the Kingdom of Bahrain.
- The total outstanding value of Government Treasury bills, typically issued with maturities of 91 days, 182 days, and 364 days, is BD 2.110 billion.
Business
Cruise visitors to Qatar in 2022-23 rise 151 percent
DOHA, QATAR - New data from Qatar Tourism (QT) revealed that the country welcomed 253,191 cruise visitors during its 2022-23...
- Qatar has seen a steady increase in cruise ship arrivals and passenger numbers, and the industry is poised for further growth in the seasons to come.
- In 2022-23 season, most cruise passengers originated from Germany (31 percent), Italy (10 percent), Russia (6 percent) and the United Kingdom (3 percent).
Business
Immensa opens facility in Saudi Arabia
The $15 million is located in Dammam area of the Kingdom.
- The facility is the first private sector industrial grade additive manufacturing center in the Kingdom.
- It is equipped with cutting-edge technologies and is supported by more than 30 specialized engineers, the company said in a statement.
Business
Aramco, Rijal Almaa cooperative to develop region’s beekeeping sector
Dhahran, Saudi Arabia -- Saudi Aramco and the Beekeepers Cooperative Society in Rijal Almaa Governorate in Asir Region have signed...
- Through this initiative, the Beekeepers Association aims to produce approximately 10,000 queen bees and 4,000 breeding parcels for local bees without the use of external bees.
- The MoU also includes plans to improve the quality of beekeepers' products by introducing advanced equipment and quality testing training according to the highest standards.
Business
Middle East airlines set to hire 78,000 cabin crew, 28,000 pilots by 2032
Dubai, UAE - The Middle East region is expected to experience a demand for 78,000 cabin crew members, 28,000 commercial...
- The global aviation sector will need1.3 million professionals in various roles within the next ten years
- Although the aviation industry has been impacted by the COVID-19 pandemic, the report remains optimistic about the ongoing recovery process
Business
Extended reality: XR tech transforms GCC businesses
XR technologies -- encompassing AR, VR, and MR -- are rapidly gaining traction across diverse sectors in the Gulf region,...
- XR technologies -- encompassing AR, VR, and MR -- are rapidly gaining traction across diverse sectors in the Gulf region, including academic, entertainment, and gaming
- The new XR technologies are also reshaping retail and remote work, blurring the lines between the virtual and physical realms, says Raed Mikail, Founder and CEO of AVR Labs
Bahrain and France sign MoU to boost tourism education
Lyon, France--Vatel Hotel and Tourism Business School Bahrain signed a memorandum of understanding (MoU) with EKLYA School of Business in...
Business
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ENEC signs MoU with Egypt
COP28 UAE
Emerging crypto hub UAE shapes digital assets’ future
"As 2024 unfolds, we anticipate that both private and public enterprises will increase their investments in the infrastructure and services...
Business
Global air travel reaches 99% of 2019 levels: IATA
IATA’s Director-General Willie Walsh said that international travel is 5.5% below pre-pandemic levels, but that gap is narrowing fast. "And...
Business
Chinese experts decode Apple’s encrypted AirDrop messaging
Beijing, China - Chinese state-backed experts have found a way to identify people who use Apple's encrypted AirDrop messaging service, according...
Business
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Business
Bullish Bitcoin: Halving looms, miners face squeeze
Bitcoin’s mass adoption is growing and projected in the next four years to have around 1 billion users.
- Bitcoin has continued its rally in 2024, reaching the $48,000 level on Jan 9 and creeping towards the nearly $70,000 mark it reached in November 2021.
- The next Bitcoin halving event is expected late this April when Bitcoin block rewards drop from 6.25 BTC to only 3.125 BTC per block.
Infographics
Saudi, UAE report highest levels of gross debt
Among the Arab countries, Egypt recorded the highest debt-to-GDP ratio of 92.7 percent while US and China are on an...
- Developing countries spent a record $443.5 billion to service their external public and publicly guaranteed debt in 2022, the World Bank said recently.
- The increase in costs shifted scarce resources away from critical needs such as health, education, and the environment.
Business
Five new residency programs to attract talent to Saudi Arabia
These residency products offer several benefits, including the ability to conduct business and invest in Saudi Arabia, own real estate,...
- Special Talent Residency: is focused on attracting healthcare professionals, scientists, and researchers with exceptional expertise and experience.
- Entrepreneur Residency is geared towards aspiring entrepreneurs and innovators eager to launch and grow their startups in the Kingdom.