Qatar ready to invest $21 bn in DR Congo: Kinshasa
Kinshasa, DR Congo -- Qatari investment firm Al Mansour Holding hopes to invest $21 billion in the Democratic Republic of...
Business
Business
Burjeel to operate Al Dhannah Hospital
Al Dhannah Hospital in Al Dhafra region is owned by ADNOC.
- The contract is aimed to enhance the quality and accessibility of healthcare services to ADNOC employees, their families, and the community in Al Dhafra region.
- Al Dhannah has the capacity of 122 beds, accredited by the Joint Commission International (JCI) offering multi-specialty services.
Twitter to be renamed X
Its parent firm has been named the X Corporation.
- Tweeting a picture of the company's new logo -- a white X on a black background -- late Sunday night, Twitter chief executive Linda Yaccarino said "X is here! Let's do this"
- late Sunday night, Musk changed his profile picture to the company's new logo, which he described as "minimalist art deco," and changed his Twitter bio to "X.com,"
Business
Abu Dhabi Maritime signs MoU with ADNOC Distribution
It seeks to enhance emirate's coastal and marine locations.
- The agreement between the two underscores the ongoing effort to strengthen Abu Dhabi's maritime sector
- Director-General of Operational Affairs at the DMT said that "together, we will unlock the untapped potential of our shores"
Business
$1.3trn mineral reserves shift Saudi focus to mining
The Kingdom, leveraging its significant copper reserves across the nation, seeks to address the global shortage, particularly crucial amid the...
- The Kingdom, leveraging its significant copper reserves across the nation, seeks to address the global shortage, particularly crucial amid the transition towards clean energy
- The Kingdom, despite facing challenges in logistics and water provision at mining sites, is harnessing technology and collaborations to improve production quality
Business
Twitter website replaces bird logo with X, rebrand yet to be finalized
The social media network's website showed the company's new logo, but its URL was still showing as twitter.com and the...
- Twitter has been using avian branding since its early days, when it bought a stock symbol of a light blue bird for $15.
- Musk changed his profile picture late Sunday to the company's new logo, which he described as "minimalist art deco,"
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Strong growth key to GCC’s FDI appeal
Saudi Arabia has reentered into this year's Kearney FDI Confidence Index, which ranks the markets likely to attract the most...
- The optimism stems from strong economic growth, which is expected by IMF to reach 3.6% in 2023, higher than the global average of 3.3%.
- The GCC region is especially ripe for FDI, as the high demand for oil and gas is expected to continue to spur the growth of economies in the region.
Business
PIF establishes company for developing Ajwa dates products
Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund, announced Sunday it has established Al Madinah...
- MHC will focus on promoting and distributing Ajwa dates both locally and internationally in addition to other date varieties to meet growing global demand.
- The company will also contribute to the wider development of sustainable agriculture in the Madinah region through the adoption of the latest agricultural technologies.
Business
ANB profit up 51Â percent in H1
The growth was backed by net special commission income.
- The bank reported an increase in the net provisions for expected credit losses and other provisions.
- The second-quarter net profit jumped 39 percent to SAR 986 million from SAR 707.69 million in Q2 2022.Â
Business
Dubai Customs processes over 14m transactions in first six months of 2023
DUBAI, UAE - Keeping pace with the UAE’s strong economic growth, Dubai Customs cleared 14 million customs transactions during the...
- Dubai Customs revealed that business registration service transactions went up 7 percent, recording 143,000 service requests.
- Customs declarations stood at 12.3 million transactions, accounting for 88 percent of the total number of customs transactions.
Business
Dubai seeks to unleash high-powered growth for its family business sector
DUBAI, UAE - In Dubai’s economic growth story, family businesses stand tall as architects of growth, innovation and value creation....
- The government is introducing initiatives to future-proof family businesses and bolster their competitiveness and growth capabilities in a global environment.
- Dubai has introduced new legislative measures aimed at helping them navigate the challenges and opportunities brought by a global economy in transition.
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Paris stocks hit record thanks to luxury
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Total value of Saudi Arabia’s export of dates reaches US$389m in 2023
RIYADH, SAUDI ARABIA - According to data released by the National Center for Palms and Dates (NCPD), the value of...
Business
EU queries Meta about ad-free subscriptions, shadow banning
BRUSSELS, BELGIUM - The EU on Friday used new regulatory powers to query Meta about ad-free subscriptions to Facebook and Instagram as...
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Science
Energy-related global CO2 emissions hit record levels in 2023, says IEA
PARIS, FRANCE – Energy-related carbon dioxide emissions rose to a record level in 2023, but the growth slowed from previous years...
- CO2 emissions from energy rose by 1.1 percent in 2023, increasing by 410 million tonnes to a record 37.4 billion tonnes.
- Without the drought and water shortfalls, global carbon emissions from power generation alone would have fallen last year.
Business
Gold hovers near a month high on slowing US inflation
ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while...
- Gold rose after data suggested easing US price pressures.
- Traders awaited remarks from US Federal Reserve officials.
UAE real estate sector transforms with cross-border payments revolution
Dubai, UAE - Leading financial institutions are spearheading a transformative wave in the UAE real estate sector through the introduction...
- The initiative is poised to enhance accessibility and efficiency for global investors seeking to engage in property investment within the UAE
- Traditionally, the investing in UAE real estate from overseas has been encumbered by complexities associated with cross-border transactions