After Instagram restrictions, Meta to introduce teen accounts for Facebook
Paris, France -- Meta on Tuesday announced that it was extending its teen accounts to its social network Facebook, after...
Geostrategy
Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn
Abu Dhabi, UAE -- Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...
Business
Business
Dubai records weeklong real estate transactions worth $3.02 billion
Dubai, UAE -- A total of 3,321 real estate transactions worth AED11.1 billion ($3.02 billion) were conducted in Dubai during...
- The DLD report showed that 220 plots were sold for AED 2.54 billion, 2,398 apartments and villas were sold for AED 5.85 billion.
- Wadi Al Safa 3 recorded the most transactions for this week by 61 sales transactions worth AED 728.44 million.
Business
PIF sets up firm Badael to curb tobacco use in Saudi Arabia
RIYADH, SAUDI ARABIA- The Public Investment Fund (PIF) announced the establishment of Badael Company, which aims to develop, manufacture and...
- Badael aims to address the negative impact that smoking has on the well-being of the Saudi population.
- The company’s products are expected to help nearly one million people give up smoking by 2032.
Business
East Pipes net profit $26.63m
The company had posted a loss of 3.2 million riyals the previous year.
- The growth in net profit was driven by a 141 percent year-on-year (YoY) surge in revenue to SAR 1.4 billion.
- The company's board also announced that SAR31.50 million in dividends was distributed to the company's shareholders.
Business
Ajman hotels posts 3% increase in revenues in Q1 2023
AJMAN, UAE - Ajman hotels and serviced apartments recorded a three percent growth in hotel revenues in the first quarter...
- Ajman tourism is looking for new ways to collaborate with local and international partners to advance the tourism sector by attracting new investments.
- The emirate of Ajman hosts 44 hotel establishments ranging from 1-star to 5-star hotels, resorts and luxury hotel apartments with 3,997 hotel rooms.
Business
Travel industry looks to Chinese tourists to cap post-Covid rebound
Jet makers, airline executives and hotel tycoons at this week's Qatar Economic Forum spoke of an apparently insatiable demand for...
- William Ellwood Heinecke, the owner of the Minor International hospitality group, said that in Q1 2023 the number of Chinese tourists in Thailand was 85% lesser than in 2019.
- "I think we are definitely in rebound, but more importantly we haven't seen China come back yet," he said, predicting the boom would be completed in the second half.
Business
Transporters in UAE asked to register in e-tracking system by Oct 30
Abu Dhabi, UAE -- UAE's Federal Authority for Identity, Citizenship, Customs & Port Security has asked transporters in the Emirates...
- Those who fail to register by this date will be fined AED1,000 for the first month, and AED100 for each subsequent month, with a maximum of AED5,000.
- The registration in the system shall be carried out by the target groups, through the license holder or his legal representative.
Musk secures approval for direct brain-computer interface technology
Neuralink said clearance from the US Food and Drug Administration (FDA) for its first in-human clinical study is "an important...
- The aim of Neuralink implants is to enable human brains to communicate directly with computers, the Tesla boss said
- Elon Musk said the company would try to use the implants to restore vision and mobility in humans who had lost such abilities
Business
DP World cut global carbon emission by 5% in 2022
Dubai, UAE - DP World cut direct carbon emissions from its global operations by 5 percent last year, according to...
- The ESG report, published Thursday, has been developed in accordance with the latest Global Reporting Initiative (GRI) Standards
- DP World has already committed to becoming carbon neutral by 2040 and net zero carbon by 2050 in line with the UAE’s 2050 net zero
Business
Saudi Arabia, UK ink pact to develop critical minerals supply chains
Riyadh, Saudi Arabia -- Saudi Arabia and the United Kingdom on Thursday signed an agreement to jointly develop critical minerals...
- The agreement marks a significant step in the global endeavor to increase the supply of critical minerals
- Critical minerals are vital in producing various technologies, including electric vehicles, wind turbines, and solar panels
Business
Local e-commerce thrives as Saudis shift preference
Government initiatives, such as the national e-commerce strategy and consumer protection regulations, are playing a key role in facilitating the...
- Government initiatives, such as the national e-commerce strategy and consumer protection regulations, are playing a key role in facilitating the shift in consumers' choice
- As part of Vision 2030, the Saudi government aims to raise e-commerce and modern commerce contribution to 80% of the retail sector, says Kearney & Mukatafa report
Most Read
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
After Instagram restrictions, Meta to introduce teen accounts for Facebook
Paris, France -- Meta on Tuesday announced that it was extending its teen accounts to its social network Facebook, after...
Geostrategy
Company News
Latest News
Dubai records weeklong real estate deals worth $3.86 billion
Dubai, UAE -- The real estate and properties transactions valued at AED 14.2 billion ($3.86 billion) in total during the...
Business
UAE leads in cybersecurity for unmanned systems
"The digital transformation, which relies on artificial intelligence technologies, has touched all sectors and contributes to improving the quality of...
Business
Apple to make changes to App Store in Europe
iPhone users can download alternative app stores.
Geostrategy
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Business
Alaska Airlines to take US$150m hit
It grounded the Boeing 737 MAX after in-flight safety episode.
- The airline's financial hit is the latest ripple effect from the episode, which prompted regulators to ground 171 MAX 9 planes
- With 65 planes affected by the grounding, Alaska Airlines expects to bring the jets back into service beginning Friday
Business
UAE, Malaysia sign MoU to enhance ties in digital-infrastructure sector
Abu Dhabi, UAE-- The UAE and Malaysia have signed a memorandum of understanding (MoU) to boost investment cooperation in the...
- The agreement envisages setting up collaboration by developing bilateral relationships between public and private organisations
- The trade ties between the UAE and Malaysia have climbed up, with non-oil trade volume surpassing $2.22bn in H1 of 2023
Interview
WEF24: Investor confidence fuels sustainable growth
GFH Financial Group has made significant investments in healthcare, education, logistics, and private lending in Saudi Arabia and the UAE,...
- GFH Financial Group has made significant investments in healthcare, education, logistics, and private lending in Saudi Arabia and the UAE, its CEO tells TRENDS in Davos.
- To counter potential US recession and inflation, the group's strategy emphasizes investing in digital payments, mobile apps, and AI technologies for robust growth.