Dubai Airport tops air connectivity ranking for Asia-Pacific and Middle East
Dubai, UAE - Dubai International Airport (DXB) has once again secured the top spot in the Airports Council International’s (ACI)...
Business
Real estate transactions in five UAE emirates reach $65 billion in Q1
Abu Dhabi, UAE -- Real estate transactions across five emirates in the UAE surged to over AED 239 billion ($65...
Business
Business
Mining, quarrying push Saudi Arabia’s IPI up 6.8% in Jan 2023
Riyadh, Saudi Arabia -- Saudi Arabia's Industrial Production Index increased by 6.8 percent in Jan 2023, compared to Jan 2022,...
- The kingdom's General Authority for Statistics said the mining and quarrying activity increased by 3 percent year on year.
- The manufacturing activity increased by 19.2 percent, while the electricity and gas supply activity decreased by 3.4 percent.
Geostrategy
Grain deal not being implemented properly, says Russia
MOSCOW, RUSSIA - Russian Foreign Minister Sergei Lavrov said Thursday that extending a deal that allowed grain exports from Ukraine to...
- Russia's military intervention saw Ukraine's Black Sea ports blocked by warships until a deal was reached for the export of grains.
- The UN and Turkey-brokered deal will automatically renew on March 18 unless Russia or Ukraine object.
Business
Saudi Arabia’s GDP grows 8.7 percent in 2022, reaches $1 trillion for first time
The growth rate is also the highest in the last decade, with crude oil and natural gas contributing 32.7%, government services 14.2%,...
- GASTAT said all economic activities achieved positive growth rates during 2022, with crude oil and natural gas contributing 32.7 percent.
- Non-oil activities increased by 5.4 percent during 2022, especially transport, storage and communications activities (9.1 percent).
Business
Al Ansari to sell 7.5m shares in Dubai’s first IPO for 2023
Dubai, UAE -- Al Ansari Financial Services, a remittance and foreign exchange services provider in the UAE, will be offering...
- The offering represents 10 percent of its total existing share capital. The size of the IPO could be amended any time before the pricing.
- The company expects to list and start trading on the Dubai Financial Market in April.
Fearing ban, TikTok seeks to calm Europe’s worries over data privacy
TikTok executives said the company was working with a third-party European security company to oversee and check how it handles...
- The initiative came as the Czech cyber watchdog issued its own warning, describing the Chinese-owned video-sharing app as a security threat
- The European Union and the United States, have taken a tough approach to the app, which is owned by Chinese company ByteDance
Business
Spotify adds 30 sec video in revamp to attract more creators
Spotify on Wednesday introduced new tools for artists and songwriters, with a particular focus on video formats that are seen...
- Spotify unveiled a significant revamp to offer a more interactive interface, including the option to hear song previews and provide more personalized recommendations using AI
- The Swedish-owned company, which said in January that it was cutting almost six percent of its workforce to reduce costs, posted a net loss of 430 million euros for 2022
Business
TAQA Morocco to invest US$1.6bn in renewable energy solutions
Dubai, UAE--TAQA Morocco is looking to invest $1.6 billion in renewable energy solutions in Morocco in order to lift up...
- The company, owned by Abu Dhabi National Energy Co., is looking to diversify its activities in clean energy and water desalination as part of its new strategy.
- The firm aiming to increase its production capacity of electricity from renewable sources by 1,000 megawatts will cut the carbon footprint by 25 percent
Business
Serco unveils Saudi space unit
Saudi Arabia aims to gain a leadership role in space.
- Serco will look to hire in Saudi Arabia, offering training and career development programs, besides building capacity
- Amar Vora, according to the company press release, has been appointed to lead the space team in the kingdom
Business
GCC sees rise in tech jobs despite drop in PC sales
Technology remained GCC's most active industry sector in terms of hiring, with 77 percent of organizations increasing their headcount last...
- Technology remained GCC's most active industry sector in terms of hirings, with 77 percent of organizations increasing their headcount last year, latest reports point out
- Nearly 88% of employers in the technology sector in GCC are planning to hire permanent employees this year, predicts the GCC Salary Guide 2023 by Hays Middle East
Business
ChatGPT could increase phishing and cybercrime risk, warns British firm
London, United Kingdom - British cyber security firm Darktrace on Wednesday warned that artificial intelligence bot ChatGPT may have increased the...
- Microsoft-backed start-up OpenAI in November launched Content creation bot ChatGPT.
- ChatGPT had "ignited a conversation about the implications of generative AI for cyber security," the firm said.
Dubai Airport tops air connectivity ranking for Asia-Pacific and Middle East
Dubai, UAE - Dubai International Airport (DXB) has once again secured the top spot in the Airports Council International’s (ACI)...
Business
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Infracorp logs $29.8m profit
Business
Mammoet, Aertssen sign agreement
The two firms will provide heavy-lifting solutions in Qatar.
Business
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...
Geostrategy
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...
Business
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Business
DEWA unveils new distribution substations
It commissioned 1,414 substations of 11kv in Dubai.
- The CEO of DEWA said the construction of the substations and related tasks resulted in a total of 996,648 man-hours
- He said DEWA is planning to boost the transmission and distribution networks based on electricity demand forecast until 2030
Business
GCC’s cybersecurity dynamics: The two sides of AI
In the GCC's evolving cybersecurity realm, AI integration is crucial, driving economic growth and transforming defense strategies against complex cyber...
- In the GCC's evolving cybersecurity realm, AI integration is crucial, driving economic growth and transforming defense strategies against complex cyber threats.
- The region's AI strategy in cybersecurity strikes a balance between innovative growth and managing ethical dilemmas, ensuring powerful yet responsible use.
Geostrategy
Five killed in clashes near Lebanon border
JERUSALEM -Â Three fighters who crossed into Israel from Lebanon and two Israelis were killed in clashes and a strike...
- The Israel-Lebanon border has seen near-daily exchanges of fire between Iran-backed Hizbollah group and Israeli forces.
- Hizbollah leader Hassan Nasrallah, in a televised speech said the Israelis had "failed" to achieve any of its goals in Gaza.