Investments rise in data, AI, outpacing physical assets: UN
Geneva, Switzerland - The purchase of physical assets was eclipsed last year by a surge in investment in intangible items...
Geostrategy
Saudi chocolate industry booms with over 3,500 commercial records
Riyadh, Saudi Arabia -- On the World Chocolate Day, Saudi Arabia's Ministry of Commerce announced that the total number of...
Business
Business
Saudi Arabia, South Korea sign two MoUs for mobility, road projects
Riyadh, Saudi Arabia--Saudi Arabia and South Korea have signed two agreements on Tuesday for future mobility and roads in the...
- The agreements between the two countries will boost cooperation in mobility and innovation in the transport and logistics services sectors
- Both the countries will, in accordance with the spirit of the agreement, exchange experiences to solve challenges in adopting modern technologies
Economy
Qatar, Spain launch innovation program to support collaborative research
Doha, Qatar: Qatar and Spain have launched the Qatar Spain Innovation Program (QASIP), a joint venture between the Qatar Research,...
- The program aims to support collaborative research and development projects in energy, health, resource sustainability, and digital technology
- The program is the first fruit of cooperation between the QRDI Council and CDTI, following a MoU signed by Qatar and Spain in 2022
Video and audio calls coming to Twitter, says Musk
Since buying Twitter for $44 billion late last year, Musk has made changes in seemingly impulsive ways, sometimes causing chaos...
- Twitter boss contended that the WhatsApp messaging service operated by Meta "cannot be trusted"
- He added that Twitter will start direct messages on the platform, scrambling contents to safeguard privacy
Business
Central Bank of Oman issues treasury bills valued at US$36.35 million
Muscat, Oman--The Central Bank of Oman (CBO) has raised $36.35 million by way of allotting treasury bills on Tuesday, the...
- According to the central bank, the value of the allotted treasury bills amounted to $26 million, for a maturity period of 28 days
- The bank added in a statement that the allotted treasury bills amounted to $10.38 million for a maturity period of 91 days
Economy
UAE growing EV charging stations from 500 to 800
Abu Dhabi, UAE - The UAE is growing the number of Electric Vehicle (EV) charging stations from 500 to 800...
- Recent years have seen the UAE make a push towards adoption of electric vehicles
- The country's EV market is expected to grow at a CAGR of 30 percent until 2028
Economy
UAE begins talks with Thailand under CEPA to boost trade
Seeking to widen its foreign trade and grow national economy, the UAE has signed Comprehensive Economic Partnership Agreement (CEPA) negotiations...
- The UAE has signed four agreements with India, Israel, Indonesia and Turkey, with the first two having already come into force
- The country is holding negotiations with many other nations in the neighborhood and beyond to arrive at similar agreements
Business
Burjeel Holdings Q1 profit $33m
The company posted Q1 revenue of US$299 million.
- Firm's revenue increased by 11.6 percent year-on-year and net profit by 43.4 percent reflecting strong growth.
- Burjeel Holdings continue to review partnership opportunities in the Middle East and Africa region.
Business
Carrefour now opens in Israel
French retailer is first foreign supermarket chain in Israel.
- Simmering rage over costs and income inequality dominated the country's elections in November.
- Inflation hit 5.2 percent year-on-year, the central bank said in April, a record high for Israel in over a decade.
Business
Saudi Arabia to boost maritime cooperation with South Korea, Qatar
Riyadh, Saudi Arabia - A delegation of Saudi Arabia discussed steps to enhance cooperation in maritime transport and ports with...
- Saudi Arabia and South Korea inked a deal to promote mutual recognition of the certificate of competency of seafarers from both countries.
- The agreement is likely to streamline the seafarers' business process flows between Saudi Arabia and Korea.
Business
Global tourism industry is on track to reach pre-pandemic levels
MADRID, SPAIN - The World Tourism Barometer published its second report of the year, which showed that international tourism is...
- During Q1 2023, twice as many people traveled internationally than in the same period of 2022, with 235 million estimated tourists.
- The report revealed that international arrivals have reached 80 percent of pre-pandemic levels in the first quarter of 2023.
Investments rise in data, AI, outpacing physical assets: UN
Geneva, Switzerland - The purchase of physical assets was eclipsed last year by a surge in investment in intangible items...
Geostrategy
Company News
Latest News
Qatar awards $6bn in contracts for Al-Shaheen oilfield expansion
The four engineering, installation and procurement contracts will increase production at the Al-Shaheen oilfield -- the country's largest -- by...
Business
TECOM Group net profit up 49%
The company recorded its highest-ever revenue of AED 2.2 billion.
Business
Banco Santander posts US$12bn profit
It made record profit on the back of higher interest rates.
Business
Most Read
Google says AI helped boost profits
Alphabet reported a profit of $20.7 billion.
- Alphabet reported a profit of $20.7 billion on revenue of $86.3 billion, with strong contributions from video-sharing platform YouTube and its cloud computing unit
- Google ads brought in a total of $65.5 billion in the quarter, compared with $59 billion in the same period the prior year, according to the earnings report
Business
China edges out Japan as world’s top vehicle exporter
In recent years, China's auto sector has grown remarkably largely because of massive investments in electric cars, an area where...
- Japan's vehicle production in 2022 excluding motorcycles totalled 7.84 million units
- China's BYD this month snatched Tesla's crown for most sales of all-electric vehicles
Business
DFM net profit climbs 124 percent
Its board has proposed a cash dividend of US$76.24m.
- The upswing in profit was propelled by a significant uptick in trading activities, capital inflow and a notable influx of new investors
- The bourse consolidated its status as a premier market for IPOs, with the listing of Dubai Taxi Company and Al Ansari Financial Services