TikTok makes AI driven ad tool available globally
San Francisco, United States - TikTok on Thursday began letting all marketers on its platform use an artificial intelligence-powered tool for...
Business
Global VC investment falls to lowest level in nearly seven years
Global VC investment fell from a five-quarter high of US$95.5 billion in Q2'24 to a nearly seven-year low of US$70.1...
Business
Business
Qatar signs agreement with Saint Lucia for air service
Doha, Qatar-- Qatar and Saint Lucia have signed an air services agreement allowing the Gulf country's airline to expand its...
- The agreement was signed by Qatar's Minister of Transport Jassim bin Saif bin Ahmed Al Sulaiti and Saint Lucia's Minister for External Affairs Alva Romanus Baptiste
- The two ministers reviewed ways to strengthen and develop relations between the two countries in the field of civil aviation and various air transport activities
Economy
Global recession likely in 2023, say WEF chief economists
Almost two-thirds of chief economists believe a global recession is likely in 2023, with 18 percent of them considering it...
- In China, expectations of growth are polarized, with respondents almost evenly split between those who expect weak or strong growth.
- One positive signal is that supply chain disruptions are not expected to cause a significant drag on business activity in 2023.
Economy
DFSA releases 2023-24 plan to support Dubai’s growth as financial hub
DUBAI, UAE - The Chairman of the Dubai Financial Services Authority (DFSA), Fadel Al Ali Monday announced the publication of...
- The two-year plan outlines an ambitious roadmap to meet the DFSA’s statutory objectives for the Dubai International Financial Center.
- The DFSA will be pursuing several key projects that cut across multiple strategic themes.
Infographics
Small gain for gold in 2022 despite rate hike
Goldman Sachs has recently projected that the supply of Lithium will begin to outpace demand from 2023 onward.
- Gold posted a small gain in 2022, which reinforced the precious metal's stable and uncorrelated performance amid market turbulence.
- Gold Council said weak institutional demand was offset by retail investment - driven by inflation and geopolitics - and central banks had an exceptional year of net buying.
Economy
Countries which transform food system can meet net-zero goals, says WEF report
DAVOS, SWITZERLAND – A report launched Monday at the World Economic Forum Annual Meeting 2023 shows how countries can accelerate...
- Food systems, when transformed, can help solve some of the world’s toughest problems, from climate change to resilient livelihoods.
- The report identifies models for businesses and policy-makers and a roadmap of priorities for countries to improve productivity and sustainability.
Economy
Qatar’s Consumer Price Index increased by 5.93% in Dec 2022
Doha, Qatar-- Qatar's Consumer Price Index (CPI) rose by 5.93 percent in December 2022 to reach 108.20 points, driven primarily...
- On monthly basis, the CPI increased by 1.24 percent when compared to CPI of November 2022.
- Prices decreased in Communication by 3.37 percent, Health by 2.31 percent, Clothing and Footwear by 0.38 percent and Miscellaneous Goods and Services by 0.08 percent.
Business
Dubai realty transactions cross half a trillion dirham mark in 2022
"The exceptional performance of the real estate sector reflects support the goal of the Dubai Economic Agenda D33 launched to...
- In 2022, a total of 80,216 investors made 115,183 new real estate investments worth AED264.15 billion, an annual growth of 59.5% in volume and 78.4% in volume.
- The real estate sector's growth coincides with the growth of the emirate's economy despite the challenging global economic situation.
Economy
RAKTDA simplifies procedure for getting permits for Rak Holiday Homes system
RAS AL KHAIMAH, UAE- Ras Al Khaimah Tourism Development Authority (RAKTDA) has announced updates to its holiday homes system. RAKTDA...
- The updates are part of the Emirate’s efforts to continue diversifying and strengthening its existing accommodation portfolio of four- and five-star hotels and resorts.
- These measures will help in driving a sustained tourism economy that benefits not only investors but also its communities.
Business
Mubadala acquires DCA
DCA is a US-based dental services organization with 390 allied practices,
- Mubadala and funds managed by Harvest Partners jointly control DCA and will work closely with the management team.
- Founded in 1991, DCA has approximately 5,400 employees, including over 885 dentists in 22 states and welcomes over 3.5 million patient visits per year.
China’s Tencent fires more than 100 for fraud, embezzlement
In a statement, the firm - which in November posted its second consecutive quarterly decline in revenue -said it had...
- The Hong Kong-listed company is the world's top video game maker and the owner of popular super-app WeChat
- Tencent has been hit hard by China's regulatory crackdown , which saw hundreds of firms pledged to scrub "politically harmful" content
Most Read
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
TikTok makes AI driven ad tool available globally
San Francisco, United States - TikTok on Thursday began letting all marketers on its platform use an artificial intelligence-powered tool for...
Business
Company News
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Eni Q3 profit drops
Business
Equinor profits tumble
Business
Fintech leads MENA startup boom with historic funding
Startups in the MENA region secured a staggering $764 million in funding in November 2023, demonstrating the region's growing influence...
Business
Plan to end e-vehicle subsidies sparks anger in Germany
BERLIN, GERMANY - The German government on Sunday faced a backlash after abruptly ending an electric car subsidy scheme in a...
Geostrategy
King Abdulaziz International Airport top Saudi performer in November
Riyadh, Saudi Arabia -- King Abdulaziz International Airport in Jeddah, King Fahd International Airport, Abha International Airport, Al-Ahsa International Airport...
Business
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Business
Qatar Airways and Asian Football Confederation sign partnership deal
Doha, Qatar--Qatar Airways Group and the Asian Football Confederation (AFC) have signed a global partnership set to transform the fan...
- The airline said that the partnership will run from 2023 to 2029 in time for the AFC Asian Cup Qatar 2023, which kicks off next year in January
- Qatar Airways CEO said that the agreements marks a shared commitment to linking up people across borders and promoting competitive sportsmanship.
Business
Red Sea Global, VAARST join hands for marine ecosystem mapping
TABUK, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the regenerative tourism destinations, is piloting SubSLAM, an...
- VAARST’s photogrammetry and real-time intelligent data collection system are transforming how underwater ecosystems are mapped and preserved.
- SubSLAM, developed by VAARST, enables precise quantification and identification of corals and underwater objects using advanced 4K sensors.
Geostrategy
NCSC seeks to regulate Jordan’s cybersecurity market
AMMAN, JORDAN - National Cyber Security Center (NCSC) seeks to regulate the Kingdom's cybersecurity market by outlining and endorsing the...
- One of the NCSC's key measures focuses on issuing Cybersecurity Services Licensing System, its director said.
- This would "effectively" contribute to strengthening and supporting Jordanian companies to enter the cybersecurity market.