The future of logistics: Insights from DHL’s Amadou Diallo
The future of logistics is a convergence of technology, sustainability, and human ingenuity, which are transforming supply chains into more...
Interview
Business
Technology drives facility management growth in GCC
The sector is likely to grow at a CAGR of about 10% on the back of technology adoption, rising expenditures...
- The sector is likely to grow at a CAGR of about 10% on the back of tech adoption, rising expenditures in building industry, and flourishing tourism, says an expert
- Tech-driven dynamism in market leads to surge in computer-aided facility management and IoT adoption, highlights Sangeetha B, Founder & CEO of Amantra
Business
Bed Bath & Beyond files for bankruptcy
The firm was a regular on the Fortune 500 list of biggest American companies.
- The home goods chain filed voluntary petitions for relief under Chapter 11 at the United States Bankruptcy Court.
- The New Jersey-based retailer, sold everything from shower curtains and soaps to vacuum cleaners and duvet covers.
Business
HFZA showcases Sharjah as attractive investment destination at India Steel 2023
SHARJAH, UAE - India is among the UAE's most significant investment partners, with substantial mutual investments. Iron and steel rank...
- Iron and steel rank among the top commodities exported from the UAE to India.
- India is among UAE's most vital trade partners, with substantial mutual investments.
Economy
Collective action required for food security, says FAO
MIYAZAKI, JAPAN - With hunger levels rising and food prices soaring in most of the world, collective actions are necessary...
- Trade continues to be key for global food security and all nations must commit to well-functioning markets and transparency, FAO said.
- "We need to work together in an efficient, effective and coherent manner to identify the solutions," FAO added.
Economy
Up to $1.7 trillion investment needed for green aviation goals
To meet the estimated energy demand from hydrogen and electric aircraft in 2050 would require the amount of energy produced...
- Carbon-free propulsion options, such as battery and hydrogen-powered aircraft, are some of the options the aviation industry is pursuing.
- Airports, airlines and others will need to make heavy infrastructure investment to deliver the green hydrogen and electricity the aircraft will need.
Business
AI may help in machinery repair, labor crisis
The launch chatbot ChatGPT by the US firm OpenAI last year has resulted in an explosion of interest in uses...
- The potential for artificial intelligence in the manufacturing sector was in focus at Hanover Fair on industrial technology in Germany last week.
- In Europe's biggest economy, almost 58 percent of manufacturers complain of workforce shortages, according to a study.
Business
German public sector workers clinch 5.5 percent pay rise
The deal comes after several weeks of stalemate and repeated strikes among postal, transport and health workers demanding more money...
- From June 2023, a tax-free inflation compensation payment of 3,000 euros is to be paid in several instalments.
- Inflation in Germany stood at 7.4 percent in March, remaining high despite having fallen from a peak of 8.8 percent in October.
Twitter restores blue ticks for some media, celebrities
Many who unwillingly gained blue ticks made it clear that they had not subscribed, as the badge became a symbol...
- Non-paying accounts that had a blue tick lost it on Thursday, as owner Elon Musk implemented a strategy, dubbed Twitter Blue, to generate new revenue, announced last year
- On Friday and Saturday, a number of celebrities regained their blue ticks, seemingly without action on their part, including author Stephen King, Donald Trump
Economy
Investors hope for answers in UBS, Credit Suisse quarterly results
Credit Suisse pushed forward its result release to come out the day before those of UBS, as Switzerland's largest bank...
- According to data compiled by US financial services firm Morningstar, Credit Suisse saw around $5.1 billion withdrawn from funds during the month of March
- Analyst expected UBS on Tuesday to post a first quarter profit of nearly $1.7 billion, below the $2.1 billion it made during the same quarter a year ago
Business
China leads in transition from petrol to EVs
According to the China Association of Automobile Manufacturers, electric vehicles made up 25 percent of car sales in the country...
- Government support for EVs and growing interest from a vast consumer base has assured Chinese companies' dominance.
- Despite a downturn across the global auto sector, an official said EVs' market share in China could increase to over 40 percent in 2023.
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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
The future of logistics: Insights from DHL’s Amadou Diallo
The future of logistics is a convergence of technology, sustainability, and human ingenuity, which are transforming supply chains into more...
Interview
Company News
Latest News
Saudi Arabia unveils 45,000-seat multi-use stadium in Qiddiya City
RIYADH, SAUDI ARABIA - The Board of Directors of the Qiddiya Investment Company (QIC) announced on Monday the launch of...
Business
IMF chief at Davos: AI holds risks, opportunity for global economy
Artificial intelligence poses risks to job security around the world but also offers a "tremendous opportunity" to boost flagging productivity...
World Economic Forum
Ummahat Island unveils world’s first net-zero 5G network towers
Tabuk, Saudi Arabia -- Red Sea Global (RSG), Zain KSA, and the French Serge Ferrari Group have developed and installed...
Business
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Geostrategy
Saudi Arabia, China ink MoU in accounting and auditing
RIYADH, SAUDI ARABIA – The Kingdom and the People’s Republic of China signed on Monday in Beijing a memorandum of...
- The MoU is similar to other agreements that GCA has reached with counterpart organizations in different countries.
- These agreements underscore GCA's elevated professional standing, at both regional and international levels.
Business
China Construction Bank lists $600m green bond in Nasdaq Dubai
DUBAI, UAE - Nasdaq Dubai has welcomed the listing of a US$600 million green bond by China Construction Bank (DIFC...
- The total value of bonds listed on Nasdaq Dubai by CCB, comprising the issuances by Hong Kong and Dubai branches, stands at $2.45 billion.
- The cumulative value of outstanding debt from Chinese issuers on Nasdaq Dubai stands at US$11.95 billion through 22 issuances.
Business
Qatar Chamber and CzechTrade look to boost trade cooperation
Doha, Qatar--Qatar and Czech Republic are looking to ramp up trade and investment cooperation between the two countries. In this...
- The two sides looked at ways to bolster cooperation between Qatari companies and their counterparts from Czech Republic
- The trade volume between the two countries reached $183m in 2022, reflecting a 10% increase compared to the previous year