Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts
The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...
Economy
Social media’s evolving role in GCC spotlighted at Doha conference
Doha, Qatar – The Qatar Investment and Innovation Conference, held on Wednesday, at Barahat Msheireb in Msheireb Downtown Doha, brought...
Business
Dubai to see flying taxis launch in three years
Dubai, UAE-- Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai...
- Dubai has offered promises to launch flying taxis in the city already home to the world's tallest building and other architectural wonders
- The city plans four “vertiports” by Dubai International Airport, the world’s busiest for international travel, downtown Dubai, the Palm Jumeirah archipelago and Dubai Marina
Business
Boursa Kuwait posts profit
The stock exchange's net profit jumped 13% to $59m in 2022.
- The company also recorded operating revenue of $115 million over the same period, an increase of 12.8%
- Its earnings per share increased 13.3% from 79.15 fils in 2021 to 89.67 fils for the financial year ended December 31, 2022
Business
CBUAE unveils FIT program to promote digital transactions
Dubai, UAE---The Central Bank of UAE Sunday launched Financial Infrastructure Transformation Program (FIT program) to accelerate the digital transformation in...
- In a statement, the bank said the FIT is a step towards enabling the CBUAE to be among the top central banks globally.
- As part of the FIT Program, the CBUAE will strengthen its digital leadership by adopting advanced supervisory technologies and data management solutions.
Videos
MENA startups raise $103 million in Jan
Startups in the Middle East and North Africa raised $3.94 billion in 2022, a 24 percent increase in investment value...
- In the first half of 2022, startups in the Middle East raised around $1.8 billion, according to a MAGNiTT report.
- The fintech sector remained the most capital attracting sector last year, raising nearly $1.7 billion.
Business
Major firms to attend ‘Invest in Saudi Arabia’ forum in Kuwait
Riyadh, Saudi Arabia--The Invest in Saudi Arabia forum, which will be held on Monday in Kuwait, will see the participation...
- Saudi Arabia's Minister of Investment Khalid bin Abdulaziz Al-Falih will be visiting Kuwait to attend the forum.
- The forum includes dialogue sessions on promising investment sectors between the two countries, review the most prominent developments in the business environment in the kingdom.
Geostrategy
Sexting chatbot ban brings AI rules in focus
Given that these bots still make factual blunders, often show bias and could even spout libelous statements, some are clamoring...
- Regulators in Italy last week barred the firm from gathering data after finding breaches of Europe's massive data protection law, the GDPR.
- OpenAI's latest model, GPT-4, is scheduled for release soon and is rumored to be so good that it will be impossible to distinguish from a human.
Business
Dubai Chamber of Digital Economy discusses sector’s future
Dubai, UAE--Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has organised a workshop designed...
- The workshop discussed four main topics – regulations, funding, talent and infrastructure – with a chance to discuss their ideas, challenges and opportunities
- It is part of a series of similar workshop events Dubai Chamber of Digital Economy conducts on a regular basis.
Business
DEWA’s R&D Center registers its 7th patent for 3D printing adhesive device
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has announced the registration of a new patent for an adhesive...
- The device distributes the adhesive material on the 3D printing plate, ensuring that the printed material sticks securely to the build plate.
- DEWA's R&D Center is responsible for supporting innovation in all production and operational areas.
Business
PIF raises US$5.5bn in bond issue
The capital will finance PIF's green investments.
- It was issued in 3 tranches, comprising: $1.75 billion 7 years, $2 billion 12 years, $1.75 billion 30 years
- The bond was sold to a wide range of institutional investors globally, including Asia
Business
First Abu Dhabi Bank not eyeing offer for Standard Chartered
The company, second time it has quashed reports of an imminent bid, refuted the speculations in the press in a...
- The company, second time it has quashed reports of an imminent bid, refuted the speculations in the press in a report to Abu Dhabi Securities Exchange
- Standard Chartered is a British multinational bank with operations in consumer, corporate and institutional banking, and treasury services
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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
Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts
The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...
Economy
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Business
Dubai’s family businesses get practical guidance with new toolkits
Dubai, UAE -- Three toolkits have been developed for family-owned businesses, which make up approximately 90 percent of the UAE’s...
Business
TDRA inks pact with PCFC’s Dubai Maritime Authority
DUBAI, UAE - The Telecommunications and Digital Government Regulatory Authority (TDRA) has signed a Memorandum of Understanding (MoU) with the...
Business
Saudi Arabia to launch 35 renewable energy projects in 2024: Minister
Riyadh, Saudi Arabia -- Saudi Ministry of Industry and Mineral Resources is set to launch nearly 35 renewable energy projects...
Business
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Saudi Chemical Co announces dividend
The company will distribute $11,385,120 to its shareholders.
- Shareholders possessing a portion of the 843,200,000 shares eligible for dividends will benefit from this payout
- Each share is set to receive a dividend of 0.05 SAR, which represents a 5% dividend relative to the share par value
Toyota’s Daihatsu suspends all domestic production
The company said it had been manipulating safety tests since at least 1989, affecting 64 models, including some sold under...
- The firm, which has about 9,000 factory workers in Japan, closed the last of its four domestic plants, a Daihatsu spokesman told on Tuesday
- The move could affect more than 8,000 companies across the country, according to a private research firm
Business
Empower, ASHRAE form alliance
They partnered to lead global expansion of the cooling sector.
- The talks touched on improving energy efficiency within the cooling and heating sector, underscoring the importance of shared knowledge
- One of the results that came out of the meeting was the agreement to develop a standardized District Cooling Guide applicable in various countries