Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...
Economy
Business
HUB71 reveals winners of The Outliers Program to address industry challenges
ABU DHABI, UAE - Hub71, Abu Dhabi's global tech ecosystem, on Tuesday announced the winners of The Outliers Program, which...
- Participating startups have been recognized for their innovative solutions in various challenges set by Hub71’s strategic partners as part of The Outliers.
- The winning startups were successful for the companies’ ability to implement innovative products and services that can have a positive impact.
Business
DEWA commissions 6 new transmission substations in Jan-April 2023
DUBAI, UAE - Â Dubai Electricity and Water Authority (DEWA) has commissioned six new 132/11 kV transmission substations from January to...
- The project included 3,450 meters of 132kV ground cable to connect with the main transmission network.
- The new transmission substations are in Al Jaddaf, Tilal Al Ghaf, Bani Yas, Jebel Ali Port, Marsa Dubai and Al Yufrah 1.
Business
Which country leads Arab world in business ease?
Arab nations have implemented several reforms to improve the ease of doing business. TRENDS take a look to determine the...
- Arab nations have implemented several reforms to improve the ease of doing business. TRENDS takes an in-depth look to determine the most business-friendly country in the region
- Business reforms have led to a significant increase in foreign direct investments, contributing to the growth of both the public and private sectors in the Arab countries
Economy
10th Arab-China Business Conference ends with Riyadh Declaration
Riyadh, Saudi Arabia -- The 10th edition of the Arab-China Business Conference successfully concluded on Monday with the announcement of...
- The first day of the conference featured the signing of US$10 billion worth of investment agreements, spanning more than 30 deals across an array of sectors
- The conference featured 9 panels, 18 workshops, and several private meetings and hosted 150 speakers to explore, discuss Arab-Chinese economic cooperation
Economy
UAE and South Korea agree to support SMEs, entrepreneurship
Dubai, UAE-- The UAE and South Korea are aiming to foster cooperation to promote entrepreneurship and support growth of small...
- The UAE's Minister of Economy, Abdullah bin Touq Al Marri, noted the strong business and strategic ties between the two countries, which continue to grow on many fronts
- South Korean FDI in the UAE, in insurance, mining, energy, real estate, touched US$2.2 billion in 2021, registering a staggering 73 percent growth since the beginning of 2013
Economy
UAE and Russia hold talks to eliminate double taxation
Dubai, UAE--The UAE and Russia have held the second round of negotiations on the double taxation agreement on income and...
- The agreement is designed to provide protection to taxpayers from double taxation and remove bottlenecks on the path of trade and investment
- The UAE noted the importance of dialogue in fostering better bilateral relations with Russia, resulting in growth in trade, finance and investment
Economy
Saudi Arabia to provide visitors with instant e-visa to boost travel
Riyadh, Saudi Arabia-- In order to boost the travel and tourism industry in the kingdom, Saudi Arabia will offer instant...
- The visa on arrival is just the latest step in Saudi Arabia's drive to make it easier for visitors to undertake a trip to the kingdom, boosting arrivals to 100 million by 2030
- The Saudi Tourism Authority has adopted digitization increasing accessibility and connectivity for visitors to enter the kingdom and enjoy its natural and cultural diversity
Business
Strong economy, innovation shield GCC banks
GCC banks, which are recognized for their sophistication and maturity, have minimal exposure to the ongoing global crisis due to...
- The Gulf banking sector's resilience and adaptability position it well to navigate the current global landscape, ensuring continued growth and stability, say experts
- GCC banks, which are recognized for sophistication and maturity, have minimal exposure to the crisis due to robust regulations by regional regulators, they add
Business
UK delivery firm Tuffnells collapses
The company had failed to secure new funding, the administrators said.
- Privately-owned Tuffnells, which specializes in large and bulky goods, is based in the northern English city of Sheffield.
- The company, which has 33 delivery depots dotted across Britain, also suffered badly on fallout from the coronavirus pandemic.
Business
Greenpeace denounces UK energy firm over coal-fired power station
LONDON, UK - Greenpeace slammed Britain's power grid operator on Monday after it requested the reactivation of a coal-fired power station...
- National Grid ESO has asked energy firm Uniper to fire up a coal unit of its power station in Ratcliffe-on-Soar, central England.
- Temperatures in Britain could exceed 30 degrees Celsius (86 degrees Fahrenheit) on Monday and remain high this week, forecasters say.
Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...
Economy
Company News
ADNOC-Tabreed G2COOl opens
Business
Latest News
Germany ready to sell Eurofighter jets to Saudi Arabia: minister
"We do not see ourselves, as the German federal government, opposing British considerations on other Eurofighter (sales)," Baerbock told journalists...
GCC telecom firms turn to Europe, Asia for expansion
Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home...
Business
Most Read
Business
Avalon sets sights on Tadawul listing
The firm will offer 6 million shares in its Initial Public Offering.
- The book-building process for Avalon Pharma's IPO will commence on January 14th and conclude on January 18th.
- In the event that there is sufficient demand by Individual Investors, the number of shares initially allocated to participating parties will be reduced to 5.4 million shares.
Business
Utilizing AI is only possible if skill gap is bridged, says expert
DUBAI, UAE - The Artificial Intelligence (AI) revolution is upon us, with AI becoming a pervasive force in our daily...
- As the rate of AI adoption increases, humans are essential to guiding the technology’s implementation and usage of these technologies.
- Executives estimate that up to 40 percent of their workforce may need to reskill as a result of implementing AI or automation over the next three years.
Business
Rules are fine but educate public about generative AI: Expert
Dubai, UAE -- Regulations alone will not safeguard the public against nefarious uses of Artificial Intelligence, people also need to...
- Investors, inventors and users of this technology need to take a lead in this task of educating the public, says Victor Riparbelli, CEO Synthesia.
- The companies providing AI technology must educate through exposure to positive use cases of AI as quickly as possible, he added.