Cyberattack to cost UK retailer Marks & Spencer $404 million
London, United Kingdom -- British clothes-to-food retailer Marks and Spencer on Wednesday said a cyberattack affecting its online service is...
Business
Nvidia unveils plan for Taiwan’s first ‘AI supercomputer’
Taipei, Taiwan -- Nvidia boss Jensen Huang announced plans for Taiwan's first "AI supercomputer", as he showcased on Monday the...
Business
Business
Dukhan Bank lists on QSE
The total number of companies now listed on QSE stands at 50.
- The total number of companies now listed in the main market went up to 50 Qatari public companies
- The bank's shares were listed in the banking sector category through the direct listing mechanism, a common mechanism in all regional markets
Business
DP World, Caspian Containers Company partner to help digitise international trade
The SeaRates platform will enable Caspian Containers Company customers to monitor the status and movement details of a container at...
- The SeaRates platform will enable Caspian Containers Company customers to monitor the status and movement details of a container at any point during its journey
- In addition to supporting the digitising of trade, the partnership will further strengthen ties in the two growing markets of the Greater Caspian Region and Africa
Business
UAE brings in new financing solutions for defense industries
Abu Dhabi, UAE--UAE-based SMEs in the industrial sector will soon be able to access new financing solutions and enablers following...
- The MoU aims to attract industrial investors to strategic sectors such as defense by providing a package of incentives and benefits
- EDB will provide flexible and competitive financing solutions such as green financing, financing capital expenditure, and financing start-ups and SMEs
Business
More firms set for listing on Qatar Stock Exchange
"The new listings will take place between March and April. Another group of companies will be listed in the venture...
- New companies are about to be listed on Qatar Stock Exchange, including MEEZA and another start-up operating in the oil and gas services sector, says top official
- The new listings will take place between March and April, adds Acting CEO of the QSE Abdulaziz Nasser Al Emadi on the sidelines of the listing of Dukhan Bank
Business
RAKEZ supports F&B industry investors to set up, expand in UAE
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) is participating in the Gulfood exhibition to showcase its...
- With an aim to promote the F&B industry, RAKEZ regularly participates in the annual Gulfood exhibitions.
- RAKEZ supports investors to gain a foothold in the local, regional and global markets through its business ecosystem.
Economy
Dubai airport arrivals double in 2022 as more Russians pour in
The UAE has maintained a neutral stance towards Russia's war in Ukraine, which is nearing its one-year anniversary. The Gulf...
- The airport "welcomed a total of 66,069,981 passengers during 2022", representing year-on-year growth of 127 percent.
- In 2021, around 29.1 million passengers passed through Dubai, and the authorities had expected 57 million visitors for the year 2022.
Business
Lockheed Martin, 4 GCC firms partner for sustainment support
Abu Dhabi, UAE – Lockheed Martin has partnered with four companies operating in Gulf Cooperation Council (GCC) countries to provide...
- The four companies are AL TAIF (part of EDGE Group), Mohamed Abdulrahman Al Bahar (Al Bahar), ArabCal, and TLD MEAI (part of Alvest Group), WAM reported.
- These partnerships aim to improve sustainment operations in the region by reducing turnaround times and costs for the US military and its allies operating in the Gulf.
Business
Dubai Chambers adds 56,000 new members during 2022
Dubai, UAE--Dubai Chambers' membership increased by 20 percent in 2022 to 347,600, adding 56,000 new members during the year. In...
- The Chambers said the exports and re-exports of its members grew by 20 percent in 2022, totaling AED272.7 billion.
- Dubai International Chamber opened four new international offices in 2022, growing its international network to 15 offices.
Economy
Saudi non-oil exports down by 24 percent to $6 billion in Dec 2022
Riyadh, Saudi Arabia-- Saudi Arabia's non-oil exports (including re-exports) fell by 24.4 percent to SAR 22.7 billion ($6.05 billion) in...
- Overall merchandise exports increased by 1.1 percent in December 2022, SAR 108.2 billion, compared to SAR 107.0 billion in December 2021.
- This increase was mainly due to oil exports, which rose by SAR 8.5 billion or 11.1 percent in the same period,
Geostrategy
Sharjah, Costa Rica explore trade, food security
SHARJAH, UAE - Chairman of the Department of Government Relations (DGR) in Sharjah Sheikh Fahim Al Qasimi recently met with...
- The Costa Rican delegation was briefed on Sharjah free zones and industrial zones.
- The Costa Rican minister said the meeting explored opportunities to strengthen trade between the two sides.
Cyberattack to cost UK retailer Marks & Spencer $404 million
London, United Kingdom -- British clothes-to-food retailer Marks and Spencer on Wednesday said a cyberattack affecting its online service is...
Business
Company News
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UAE, Saudi Arabia lift up Arab stock markets, post US$493bn in gains in 2023
Abu Dhabi, UAE-- Stock markets across the Middle East posted record highs in 2023, with combined gains of $493 billion,...
Business
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Business
Global air travel reaches 99% of 2019 levels: IATA
IATA’s Director-General Willie Walsh said that international travel is 5.5% below pre-pandemic levels, but that gap is narrowing fast. "And...
- In November 2023, the total traffic rose 29.7 percent compared to November 2022
- Middle Eastern airlines saw an 18.6 percent traffic rise in November
Business
Chinese experts decode Apple’s encrypted AirDrop messaging
Beijing, China - Chinese state-backed experts have found a way to identify people who use Apple's encrypted AirDrop messaging service, according...
- AirDrop allows users to send content to Apple devices in close proximity without an internet connection, encoded so they cannot be viewed by other people
- Chinese officials said experts "cracked the tough technological problem of the transmission of inappropriate information with anonymous traceability via AirDrop"
Business
Saudi Arabia picks bidders for mining exploration sites
Riyadh, Saudi Arabia -- Saudi Arabia Wednesday announced preferred bidders in the fourth series of the licensing rounds conducted as...
- The Ministry of Industry and Mineral Resources stated that the exploration licenses will be issued in accordance with the Mining Investment Law.
- The um Hadid site is located in the Afif region, in the center of the Kingdom. Covering an area of some 246 km2, it includes mineral deposits of silver, lead, copper and zinc.