General Gulf inflation rate logs 1.7% by end of Dec 2024
Muscat, Oman -- The general inflation rate in the GCC countries rose by 1.7 percent at the end of December...
Business
Business
HFZA to highlight investment opportunities at Gulfood 2023
Sharjah, UAE--The Hamriyah Free Zone Authority (HFZA) will take part in the upcoming 28th edition of Gulfood 2023, the biggest...
- The exhibition will bring together some top players from the global food and beverage sector, working together towards shaping the future of the industry
- HFZA’s pavilion will also highlight exclusive services provided by the park, specifically tailored for food industry owners
Business
Dubai Chamber of Digital Economy hosts industry workshop
DUBAI, UAE - Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has hosted the...
- The workshop saw discussions on topics surrounding regulations, funding, talent, and infrastructure.
- The dialogue sought to provide clarity and a better understanding of the opportunities and challenges faced by e-commerce companies.
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On the edge: Saudi workplace wellness needs overhaul
WHO says that globally an estimated 12 billion working days are lost every year to depression and anxiety at a...
- Preventing mental health conditions at work is about managing psychosocial risks in the workplace.
- WHO recommends employers do this by implementing organizational interventions that directly target working conditions and environments.
Business
Qatar logistics sector to outperform GCC states during 2020-2026
Doha, Qatar—Logistics market in Qatar will outperform other Gulf Cooperation Council countries during the 2020-2026 period, a study says. The...
- The study by the Investment Promotion Agency in Qatar showed Qatar ranked among the first 20 percent of countries in the world.
- The logistics sector in the country grew by 7 percent during the last five years.
Business
Abu Dhabi delegation in Israel explores business opportunities
ABU DHABI, UAE - A delegation of 10 Abu Dhabi entities visited Israel from February 12-16 to discuss business cooperation...
- The Abu Dhabi delegation participated in the 2023 OurCrowd Global Investor Summit in Israel.
- The delegation hosted the Abu Dhabi Pavilion showcasing business and investment opportunities in the emirate.
Business
DEWA CEO discusses bilateral cooperation with Emerson
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer received a high-level...
- DEWA, Emerson discussed advancing sustainability and consolidating foundations for environmental, social, and corporate governance.
- Clean energy makes about 14 percent of the total energy production capacity in Dubai.
Economy
ChatGPT sets off AI ‘gold rush’ in Silicon Valley
Artificial intelligence (AI) has been increasingly present in everyday life for decades, but the November launch of the conversational robot...
- OpenAI, the ChatGPT creator, is valued by Microsoft at nearly $30 billion despite still burning through money at a high speed, Wayne Hu, a partner at SignalFire, said
- Generative AI, of which ChatGPT is an example, wades through oceans of data to conjure up original content - an image, a poem, a thousand-word essay - in seconds
Business
GCC gas stations expand as global oil demand surges
The annual expansion of more than 100 fuel stations in the Gulf countries add around US$500,000 per day to companies'...
- The annual expansion of more than 100 fuel stations in the Gulf countries add around US$500,000 per day to companies' revenues in each country in the region, say experts
- Major Gulf gas station firms-- including Saudi Aramco, the UAE's ADNOC, Qatar's Woqod, and Oman's Omco -- have announced new expansion plans for the coming years
Arts & Culture
Qatari businessman mulls taking over Man Utd
London, United Kingdom - A consortium led by a Qatari banker announced it had submitted an offer to take full control...
- Sheikh Jassim Bin Hamad Al Thani "confirmed his submission of a bid for 100 percent of Manchester United Football Club"
- The statement from Sheikh Jassim, chairman of Qatar Islamic Bank (QIB), did not give any details on the amount proposed in the bid for United
Economy
Tunisian trade union protest against plunging economy
SFAX, TUNISIA - Thousands of Tunisian trade unionists held protests across the country on Saturday over worsening economic woes and the...
- The North African country is in drawn-out talks with the International Monetary Fund for a bailout loan
- Demonstrators in Sfax, where the largest protest took place on Saturday, chanted "Tunisia is not for sale!"
Company News
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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...
Business
Bullish Bitcoin: Halving looms, miners face squeeze
Bitcoin’s mass adoption is growing and projected in the next four years to have around 1 billion users.
Business
Saudi, UAE report highest levels of gross debt
Among the Arab countries, Egypt recorded the highest debt-to-GDP ratio of 92.7 percent while US and China are on an...
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Business
Saudi Arabia raises mineral resources estimates to $2.5 trillion
The Kingdom raised its mineral resources estimates from $1.3 trillion in 2016 on the exploration of nearly 30 percent of...
- The estimates were revised for phosphate, gold and rare earths. Moreover, the Kingdom’s reserves potential grew by 90 percent, the minister said.
- Despite being one of the wealthiest countries in terms of mineral wealth, the Kingdom is the world's fourth-largest importer of minerals.
Business
UAE and India sign MoUs to deepen ties in renewable energy, healthcare
Abu Dhabi, UAE--The UAE Ministry of Investment has signed three memorandums of understanding (MoUs) with India, setting out frameworks for...
- Trade between the UAE and India touched $84.5 billion between April 2022 and March 2023, and is expected to reach $100 billion by 2027
- The MoU in the renewable energy focuses on forging effective collaboration by building relationships between public and private organizations
Business
GCC telecom firms turn to Europe, Asia for expansion
Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home...
- Lower valuations of international telecom companies are enticing GCC companies to venture into newer markets with a lot of potential for growth
- Many experts feel expansion will provide diversification of the portfolio beyond the GCC to mitigate risks associated with economic fluctuations