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
Infographics
UAE crypto registration cost highest in GCC
The factors that influence the cost of registration include the type of business, the location of the business, and the...
- In addition to the registration fee, there are other costs associated with starting a cryptocurrency business, such as legal fees, accounting fees, and marketing fees.
- In the free zones of the UAE, the crypto registration cost is much lower than those areas under VARA.
Economy
Germany gears up for continued recession after years of bloom
BERLIN, GERMANY - On his many visits to semiconductor factories and electric car plants, Germany's Chancellor Olaf Scholz bangs the drum...
- Having dipped into recession at the beginning of the year, Germany looks set to finish the year in the red - and at the back of the pack among its eurozone competitors.
- The government is the only one left still predicting GDP will grow this year, while the main economic institutes and the IMF are looking at a drop of 0.2 to 0.4 percent.
Business
Qatar and Tajikistan chambers to form joint business council
Doha, Qatar - Qatar Chamber and Tajikistan Chamber of Commerce and Industry signed Sunday an agreement to establish a Joint...
- The Joint Business Council aims to facilitate communication between the two parties to increase trade and economic cooperation between the two countries.
- It includes communication mechanisms between business owners in the two countries, and exchanging information on trade and economic cooperation.
Geostrategy
India’s Modi, Egypt’s Sisi pledge to deepen strategic partnership
Indian Prime Minister Narendra Modi met Egypt's President Abdel Fattah al-Sisi in Cairo on a rare visit during which both...
- New Delhi and Cairo have pledged to boost bilateral trade as India is also stepping up investment in Egypt, particularly in renewable energy.
- India is already Egypt's seventh-largest trading partner, according to data from Cairo's central bank, with trade reaching $7 billion last year.
Business
Vodafone, Microsoft ink pact
The two firms will offer AI Digital Contact Centre Platform.
- The MoU was signed by General Manager of Microsoft Lana Khalaf, and Enterprise Business Unit Director at Vodafone Qatar Mahday Saad Al Hebabi.
- With this platform, contact centers will be equipped with modern digital tools to engage customers across voice, video, and other digital channels.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Company News
Latest News
IHC net profit soars to US$8.9bn
The company's revenue for the year 2023 stood at US$16.33bn.
Gulf realty navigates opportunities and challenges
The GCC real estate sector enters 2024 amidst a complex interplay of global economic challenges and regional opportunities, says a...
Business
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Business
Investment in Qatar free zones reaches US$1.3bn, says QFZ chairman
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...
- The QFZ chairman held a meeting with a delegation led by First Vice-Chairman of Qatar Chamber Mohamed bin Ahmed bin Twar Al Kuwari.
- The delegation paid a field tour to the Ras Bufontas Free Zone to explore the investment benefits and business opportunities within the free zones.
Business
European markets surge as US jobs data batter rate cut hopes
"The markets continue to forge ahead despite a blowout jobs report from the US last Friday which seems to have...
- Fed policymakers had left traders disappointed last week when they said after a meeting that they were unlikely to loosen policy at their next gathering.
- Most of Asia struggled again, however, with Hong Kong and Shanghai extending a sell-off fueled by growing concerns about the Chinese economy
Business
QatarEnergy, Mitsui ink pact
The agreement provide for a rise in condensate volumes.
- The 10-year supply agreement stipulates the supply of up to 11 million barrels of condensates per annum, starting from April 2024.
- The agreement highlights QatarEnergy's strategy of establishing longer-term strategic business relationship and cooperation.