Bitcoin falls below $80,000 first time since November amid market volatility
Hong Kong, China -- Bitcoin sank below $80,000 on Friday for the first time in more than three months as...
Business
Asian markets swing as traders assess latest tariffs volley
Asian markets were mixed Wednesday after President Donald Trump broadened his tariff threats, while traders were also assessing the geopolitical...
Science
WTO 2023 to put spotlight on trade role in sustainable future
GENEVA, SWITZERLAND - The WTO’s annual Public Forum 2023 will focus this year on how trade can contribute to a...
- The Forum will examine in particular how the services sector, digitalization and inclusive trade policies can support global environmental goals.
- Sessions at the Public Forum are organized by representatives from civil society, academia, business, government and international organizations.
Business
DEWA, Siemens discusses enhancing cooperation
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority Saeed Mohammed Al Tayer discussed the latest advancements...
- DEWA and Siemens discussed the role of smart grids in improving the efficient and sustainable distribution of energy.
- They also discussed ways to enhance collaboration between DEWA and Siemens in the area of smart grid technology.
Geostrategy
Pakistani businessman exports food products to Israel
ISLAMABAD, PAKISTAN - The American Jewish Congress celebrated the arrival of the first shipment of food products from Pakistan to...
- While Israeli authorities and buyers have no issue with direct shipments from Pakistan, officials in Islamabad have not issued any comment.
- The transaction reportedly involved Pakistani-Jewish businessman Fishel BenKhald and three Israeli entrepreneurs.
Business
Bank of Sharjah profit soars
Total equity increased by 7 percent to $930 million.
- The bank maintained a solid capital position, with a regulatory capital adequacy ratio of 11.51 percent and a Tier 1 capital ratio of 10.33 percent.
- Customers' deposits grew by 5 percent to AED 27,773 million ($7,562 million), highlighting the Bank's ability to maintain a solid and loyal customer base
Business
Rising rates boost GCC banking sector’s net margin
The region's banking sector thrives in Q4-2022 with NIMs at multi-year highs and strong lending growth despite global banking crisis,...
- The region's banking sector thrives in Q4-2022 with NIMs at multi-year highs and strong lending growth despite global banking crisis, highlights a report
- The ongoing banking sector crisis in the US and Europe has limited impact on the region as GCC banks' exposure to these parts of the world remains minimal
Business
Weeklong realty deals worth $2.91 billion recorded in Dubai
Dubai, UAE -- A total of 3,035 real estate transactions worth AED10.7 billion ($2.91 billion) were recorded during the week...
- Dubai Land Department said that 158 plots were sold for AED1.27 billion, while apartment and villa sales stood at 2,261, totaling AED5.11 billion.
- The top three sales were a land in Al Khairan First worth AED157.08 million, a land worth AED67 million in Island 2, and a AED59 million land in The World Islands.
Business
Ajman, Italian-Czech Chambers discuss investment, business opportunities
AJMAN, UAE - The Ajman Chamber of Commerce and Industry’s (ACCI) discussed with the Italian-Czech Chamber of Commerce in Milan...
- Ajman Chamber is keen to enhance its international cooperation and diversify its foreign partnerships.
- The Chamber discussed the competitive elements provided by Ajman economy and the investment opportunities available.
Business
Dubai International Boat Show highlights local marine industry’s global appeal
DUBAI, UAE - Dubai International Boat Show 2023 attracted over 30,000 visitors and industry players from across the globe for...
- Owners and clients are increasingly interested in innovative technologies that can create a greener yacht.
- With brands from 60 countries featured at the show, local manufacturers reported increased business.
Business
UAE Central Bank revokes license of Russia’s MTS Bank
Abu Dhabi, UAE -- The Central Bank of the UAE Friday revoked the license of Russia's MTS Bank's, which was...
- The bank said that under its supervision, the operations of MTS bank, which is licensed in Abu Dhabi, would be wound down within six months.
- Revocation of MTS's license comes weeks after it was added to a fresh round of sanctions by the United States and the UK.
Business
Saudi Arabia to host Global Summit of Real Estate leaders
Riyadh, Saudi Arabia -- Saudi Arabia will host the 42nd edition of the Global Real Estate Summit next December in...
- The summit is considered the industry's largest annual gathering, which includes real estate pioneers and CEOs of critical real estate companies from all over the globe
- The global event will hold several sessions, workshops, meetings, and lectures aiming to deal with the challenges of the real estate industry and available investment opportunities
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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
Bitcoin falls below $80,000 first time since November amid market volatility
Hong Kong, China -- Bitcoin sank below $80,000 on Friday for the first time in more than three months as...
Business
Company News
UAE approves Dubai Metro Blue Line project
Geostrategy
Latest News
Rising threat of lookalike domains poses new challenge
"Detecting these attacks and avoiding falling victim to them is vital, but the ability to take down lookalike domains is...
Opinion
Middle East air cargo volumes up 13.5% in November
Dubai, UAE - Middle Eastern carriers recorded a 13.5% year-on-year increase in cargo volumes, strongest performance in the world. In November...
Business
Dubai’s RERA signs MoU with Zand Digital Bank
Dubai, UAE--The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), signed a memorandum of understanding...
Business
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Business
GSK to buy Aiolos Bio
The focus is on an asthma medication still at the testing stage.
- The acquisition hands GSK access to AIO-001, a long-acting antibody which is ready to enter Phase II clinical development for the treatment of adults with asthma
- AIO-001 was exclusively licensed to Aiolos outside of China by Jiangsu Hengrui Pharmaceuticals, which initially developed the asthma treatment
Business
EVA Air orders 33 Airbus planes
The deal could be worth as much as $8.5 billion.
- The 33 planes ordered include 18 long-range A350-1000 planes and 15 single-aisle A321neo models
- The wide-bodied A350-1000 type can seat up to 410 passengers and travel up to 18,000 kilometers non-stop
Business
Tokyo’s Nikkei climbs to its highest level since Mar 1990
Tokyo, Japan - Tokyo stocks closed higher on Tuesday on the back of gains in US tech stocks, pushing the Nikkei...
- The benchmark Nikkei 225 index climbed 1.16 percent, or 385.76 points, to end at 33,763.18
- In Tokyo trading, chip-linked shares were higher with Advantest surging 6.04 percent to 4,945 yen