World’s longest diamond necklace set to break Guinness record at Sharjah show
Sharjah, UAE – Exhibitors at the 55th Watch and Jewelry Middle East Show, scheduled from May 28 to June 1,...
Business
Trump threatens Apple with a 25% tariff if iPhones aren’t made in US
Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones...
Business
Business
stc to sell stake in CCC
stc had in Jan signed sale and purchase pact with solutions.
- The company did not disclose the value of the deal that is expected to be closed in the second quarter of 2023.
- stc revenue exceeded $17 billion for the first time ever in 2022, reaching 67.43 billion riyals ($17.97 billion).
Business
SLG to build $54m facility
The facility will be constructed at Dubai Industrial City.
- Spanning 1.37 million square feet, the manufacturing and warehouse facility is set to open in 2025.
- The new facility will meet the demands of B2B and B2C customers across the GCC, African market and Southeast Asia.
Business
Dubai wins crown in TRENDS poll on best city in GCC
The city has won a huge following among the people who see it not just as a city for business,...
- The city won the first spot as 35 percent of the respondents said that they would prefer to live in the city of the future
- Doha came in second (34 percent), followed by Riyadh (19 percent) and Abu Dhabi (12 percent)
Business
Iran: Paris-trained Pastry chef stays back to improve women’s lives
Tehran, Iran - She could have left Iran, as many of her contemporaries did, but Paris-trained pastry chef Shahrzad Shokouhivand...
- Shokouhivand hopes to see the lifting of the severe, mostly US, sanctions over Tehran's nuclear policy that are squeezing the country
- Because of the sanctions, she says, "it is very difficult to find quality chocolate, good butter and vanilla" among other essential baking ingredients
Business
Presight to list on ADX
It will make an initial public offering before listing.
- The company’s solutions are deployed across three core sectors with significant potential for impact and innovative market growth
- It has entered into a cornerstone investment agreement with IHC, under which the latter has agreed to invest in the planned IPO
Business
AI, ML make banks in MENA region smarter and faster
The artificial intelligence is expected to play a significant role in shaping the future of region's financial services, Tarabut Gateway...
- The artificial intelligence is expected to play a significant role in shaping the future of region's financial services, Tarabut Gateway CCO Adnan Erriade tells TRENDS
- Every stakeholder in the financial ecosystem stands to gain from open banking, but end customer remains the biggest beneficiary, adds Erriade in an interview
Business
Saudi EXIM, SINOSURE ink MoU
Pact is likely to help enhance Kingdom's non-oil exports.
- The agreement was signed during a ceremony held at the Saudi EXIM Bank headquarters in Riyadh
- It aims at knowledge exchange, finance and investment opportunities in Saudi Arabia and China
Economy
Egypt arrests 29 over alleged online crypto scam
Cairo, Egypt - Egyptian authorities have detained 29 people, including 13 foreigners, accused of running an online cryptocurrency scam that defrauded...
- The scheme promised large profits from crypto-currency mining and trading services, for fees charged at an attractive foreign exchange rate.
- The network pocketed about US$620,000 at the expense of its victims in the country now battered by an economic crisis and rapid inflation.
Economy
Saudi ranks first in technical, vocational education enrollment
Riyadh, Saudi Arabia-- Saudi Arabia ranked first globally on the Global Knowledge Index 2022 in the percentage of students enrolled...
- The Index is issued by Mohammed bin Rashid Al Maktoum Knowledge Foundation in collaboration with United Nations Development Program.
- It provides reliable data to help countries and decision makers to understand and face the real transformations and challenges.
Economy
UAE keen on new technologies, says minister at Raisina Dialogue 2023
NEW DELHI, INDIA - UAE Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications Omar Sultan Al...
- Representatives from over 100 countries, including ministers, military commanders, captains of the Industry, participated in Raisina Dialogue 2023.
- The UAE is keen on sharing knowledge, experience and success stories by participating in international conferences.
World’s longest diamond necklace set to break Guinness record at Sharjah show
Sharjah, UAE – Exhibitors at the 55th Watch and Jewelry Middle East Show, scheduled from May 28 to June 1,...
Business
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Economy
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UAE approves Dubai Metro Blue Line project
Geostrategy
Retail investors on Tadawul rise to 6.05 million in third quarter 2023
Riyadh, Saudi Arabia -- The number of individual investors on the Saudi Exchange (Tadawul) reached 6.05 million by the end...
Business
Several MoUs signed at Future Minerals Forum in Saudi Arabia
RIYADH, SAUDI ARABIA – The third edition of the Future Minerals Forum (FMF), organized by the Kingdom’s Ministry of Industry...
Business
Elie Saab to showcase Riyadh Season Fall Collection 2025
Riyadh, Saudi Arabia -- Renowned fashion designer Elie Saab will unveil the Riyadh Season Fall Collection 2025 after signing an...
Business
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Business
BRICS to launch bonds worth US$28bn in local currencies
Tehran, Iran-- BRICS is preparing to launch new bonds in global markets, which will be available in local currencies rather...
- The BRICS bank will soon release the bonds called ‘Maharaja Bonds’ worth $28 billion
- The new bonds will be made available for governments, financial institutions, and regular investors
Business
ADQ, ADNEC to buy stake in TMG
The two will acquire 40.5% stake in the Egyptian firm.
- The two firms will invest through a special purpose vehicle, with 49 percent equity ownership by ADQ and 51 percent equity ownership by ADNEC
- The buying of a stake represents a major foreign direct investment in Egypt and marks a strong vote of investor confidence in the Egyptian tourism and hospitality sector
Business
PIF’s diverse investments transform Saudi economy
From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future...
- From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future for the the Kingdom's economy.
- The PIF's diverse industry launches and acquisitions, managing $701 billion in assets, have created over 644,000 jobs in pharmaceuticals, aviation, and tourism sectors.