Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
Analysis
China, Canada retaliate to Trump tariff war as markets fall
Washington, United States -- Mounting trade wars between the United States and its largest economic partners deepened Tuesday as huge...
Business
Business
Saudi Arabia’s Infath to hold 11 more public auctions in April
Riyadh, Saudi Arabia - Saudi Arabia's Attribution and Liquidation Center (Infath) will hold 11 public auctions, both physical and online,...
- Auctions start with 25 real estate in the Riyadh region in the Roshan, South Arrow and Ezz.
- A total of 36 real estate properties in Jeddah and 24 such properties in Dammam will also be auctioned.
Business
Middle East and Africa to see fastest AI spending growth in 2022-26: IDC
Dubai, UAE – Spending on artificial intelligence in the Middle East and Africa (MEA) — including Israel — will reach...
- While the spending on AI will reach $3 billion in 2023, it will hit about $6.4 billion in 2026.
- Banking, retail, and federal/central government will be the MEA region's biggest spenders on AI in 2023.
Business
Saudi Amiantit Q1 profit $0.5m
The net profit was down 78% compared to the previous quarter.
- The revenue increased by more than 65 percent year-on-year to 197 million riyals from 119 million riyals in Q1 2022.
- The company’s accumulated losses reached 33% of share capital due to “applying the international accounting standards and the lack of liquidity in general.
Business
Twitter ad ‘to fall’ 28% in 2023
Major advertisers suspended Twitter activity after Musk took over.
- In January 14 of the top 30 advertisers on Twitter stopped advertising on the platform since Musk took charge on October 27.
- Musk's leadership has also cooled Twitter's remaining users, with Insider Intelligence forecasting a two minute drop in time spent on the platform to 34 minutes per day.
Tesla sued over workers’ alleged access to car video imagery
Tesla employees "circulated recordings of Tesla customers in private and embarrassing situations, without their consent," courtesy of sophisticated camera systems...
- San Francisco resident filed the suit in federal court, in the wake of a Reuters report citing former Tesla staff who said video or pictures had been accessed from people's cars
- Cameras in vehicles captured "highly-invasive videos and images" which were used for "the tasteless and tortious entertainment" of Tesla employees, the suit maintained
Economy
TRENDS poll: GCC residents opt to be in Dubai for Eid vacation
Most of the participants, in the poll from as far away as Egypt and Lebanon, picked up Dubai to celebrate...
- Dubai has been attracting young travelers in droves, thanks to its infrastructure, cleanliness, beaches, and high levels of safety
- Qatar has seen an influx of tourists, with a record number already being registered in the first two months of the year
Opinion
A blueprint for business success in the Middle East
Successful business leadership requires that we innovate and embrace change. This means a commitment to seek paths untrodden, embracing new...
- Increasingly, the mind is the biggest soil that must be mined, sowed, and tilled as the industries of the future require ideas, creativity and intelligence
- Successful business leadership requires that we innovate and embrace change and this means taking the roads less travelled, and willingness to take risks
Business
Abu Dhabi QCC drives emirate’s infrastructure development in 2022: Report
Abu Dhabi, UAE - Abu Dhabi Quality and Conformity Council (QCC) has made strides in developing the quality infrastructure of...
- In 2022, the Council approved 26 new technical documents, reviewed 22 draft specifications and technical regulations.
- The report said that the council has conducted over 5 million laboratory examinations since 2014, 606 main services and over 2,394 sub-examinations.
Science
WHO may aid Iraq in a bid to localize pharmaceutical sector
BAGHDAD, IRAQ - The World Health Organization (WHO) affirmed it is likely to support Iraq in the localization of its...
- The WHO official said the organization has a plan with Iraq's health ministry for seven years to advance the health reality.
- He said that "coronavirus testing laboratories have increased from one laboratory to more than 70 laboratories.
Videos
Strong demand for UAE luxury real estate
By the end of 2022, the UAE was expected to attract more than 4,000 high-net-worth individuals. Around 25 percent of...
- The UAE alone accounted for more than 48 percent of the $143 billion in real estate sales in the GCC region.
- Numerous celebrities—including the likes of Brad Pit, Madonna and Giorgio Armani—have already invested into Dubai’s real estate market prior to the pandemic.
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
Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
Analysis
Company News
Ooredoo, QNBN sign agreement
Business
Latest News
Q3 corporate earnings show mixed results in GCC
Market Report
NEOM announces Aquellum as futuristic lifestyle community
NEOM, SAUDI ARABIA - The Board of Directors of NEOM has announced Aquellum, a luxury and experiential space embedded within...
Business
Saudi Arabia signs MoUs with four countries for development in mining industry
RIYADH, SAUDI ARABIA – The Ministry of Industry and Mineral Resources has signed four Memorandums of Understanding (MoUs) with the...
Geostrategy
Infosys lowers revenue forecasts
Its net profit fell 7.29% Y-o-Y in the three months to December.
Business
Most Read
Business
Qatar records $222m in realty deals: Registration department
Doha, Qatar -- The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
- Total sales contracts for residential units in the Real Estate Bulletin for the same period were QR 19.38 million.
- Real estate properties traded for sale has included vacant lands, houses, residential buildings and commercial buildings.
Business
ACWA Power-led consortium signs deal for wind energy project
Cairo, Egypt -- The Egyptian government signed an agreement yesterday with a consortium led by the Saudi company ACWA Power...
- This wind energy production project in the Middle East in Egypt will be the largest in the Middle East.
- With investments reaching up to $1.5 billion, the project will be established in the Gulf of Suez and Jebel El-Zeit regions, boasting a capacity of 1.1 gigawatts.
Business
EU court’s adviser says $2.6bn fine on Google be upheld
Google suffered a legal blow at the European Court of Justice when the body's adviser recommended that a US$2.6 billion...
- The opinion will feed into a legal battle Google has been waging to overturn the fine the European Commission hit it with in 2017.
- The commission determined that Google abused its dominant position by favoring its own Google Shopping service.