Altegio in UAE market to local boost digital transformation
Unlike other automation platforms that redirect customers to third-party websites, Altegio keeps booking processes within the client’s own ecosystem.
Business
Boeing to cut 10% of workforce
The company has projected a large third-quarter loss.
Business
US SEC charges crypto firm owned by Winklevoss twins
The charges came as US officials crack down on the sector after the uproar caused by the bankruptcy of FTX...
- Genesis and Gemini offered unregistered securities to the public, bypassing disclosure requirements designed to protect investors, said SEC Chair Gary Gensler
- Gemini was founded by Tyler and Cameron Winklevoss who were made famous as jilted investors in the movie, "The Social Network" about the birth of Facebook
Business
Islamic banks’ assets reach $166bn by October 2022
According to the Apex Bank, Islamic banks' credit climbed by 5.7 percent year-on-year to $108 billion by the end of...
- According to the Apex Bank, the banks' credit climbed by 5.7 percent year-on-year to $108 billion by October 2022
- Deposits in the banks climbed by around 1 percent year-on-year from $115 billion in October 2021
YEARBOOK 2023
Middle East cybersecurity market set to grow in 2023 as region sees surge in internet, social media users
Nearly 60 percent of organizations in the region had increased their cybersecurity spending in 2022, Abhay Pandey, Founder and CEO...
- Nearly 60 percent of organizations in the region had increased their cybersecurity spending in 2022, Abhay Pandey, Founder and CEO at MAST Consulting Group, tells TRENDS
- In SaudiArabia, there are 29.3 million YouTube users, 28.4 million use WhatsApp, 20.3 million are on Snapchat, 14.2 million on Twitter and 11.6 million use Messenger
Geostrategy
Iraq’s Prime Minister heads to Germany for energy talks
BAGHDAD, IRAQ - Iraq's Prime Minister Mohammad Shia al-Sudani left Thursday for Berlin to meet with German Chancellor Olaf Scholz and...
- Despite its oil riches, Iraq is beset by crumbling infrastructure, endemic corruption and decades of war.
- Dependent on its powerful neighbor Iran for much of its energy needs, Baghdad seeks to diversify its sources of gas and electricity supply.
Economy
US inflation falls to lowest level in over a year
Consumer inflation in the United States slipped in December to the lowest level in over a year, government data showed,...
- The Federal Reserve hiked its benchmark lending rate at a pace unheard of since the 1980s, in hopes of cooling the world's biggest economy.
- The consumer price index in December 2022 rose 6.5 percent from a year ago, the smallest increase since October 2021.
Business
Saudi Red Sea Film Foundation invests in new Johnny Depp film
Paris, France--A Saudi film fund announced Thursday that it is investing in Johnny Depp's new movie, a French period drama...
- The Red Sea Film Foundation said in a statement that it was backing the new film, "Jeanne du Barry", directed by France's Maiwenn, who also stars in the title role.
- The Saudi foundation, formed in 2019, has already funded some 170 African and Arab movies, it said, but this is its first foray into European cinema.
Business
Middle East airlines traffic up by 84.6 percent in Nov 2022: IATA
Geneva, Switzerland-- Middle Eastern airlines had an 84.6 percent growth in traffic in November compared to the same month in...
- Globally, traffic is now at 75.3 percent of November 2019 levels, according to the report. Total traffic in November 2022 rose 41.3 percent compared to November 2021.
- The Asia-Pacific continued to report the strongest year-over-year results with all regions showing improvement compared to the prior year, media reports said.
Geostrategy
UAE takes part in financial inclusion meet under India G20 Presidency
ABU DHABI, UAE - The UAE participated in the Global Partnership for Financial Inclusion (GPFI) meeting in the Finance Track...
- The meeting was held to discuss the Global Partnership for Financial Inclusion work plan for 2023.
- G20 members, invited countries, GPFI members, and international organizations such as the World Bank and OECD attended the meeting.
Business
DP World, Maersk sign partnership
They will collaborate on decarbonizing solutions, customer service.
- Maersk will deploy two of its solutions for customers moving their cargo through Jebel Ali Port
- In Jan 2022, DP World entered a strategic partnership with the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, a non-profit organization.
Business
TSMC posts Q4 profit of US$9.7bn
The Taiwanese company predicts slowing sales for 2023.
- TSMC operates the world's largest silicon wafer factories and produces some of the most advanced microchips.
- It is regarded as a global economic bellwether because so many of its chips are in such a wide array of devices.
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
Altegio in UAE market to local boost digital transformation
Unlike other automation platforms that redirect customers to third-party websites, Altegio keeps booking processes within the client’s own ecosystem.
Business
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TotalEnergies Q3 profit up 1.5%
Business
PIF, Pirelli establish a JV
Business
Storm-1152: Vietnam-based creator of fake Microsoft accounts
Seoul, South Korea - Microsoft has seized the websites of a Vietnam-based group it alleges sold millions of fake accounts to...
Geostrategy
Finland’s Vaisala to equip Kuwait airport with observation system
Kuwait City, Kuwait -- The Directorate General of Civil Aviation (DGCA) of Kuwait has inked a KD 6.7 million ($21.7...
Business
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Business
GCC region’s non-hydrocarbon growth momentum strong: IMF
Riyadh, Saudi Arabia -- The GCC region’s non-hydrocarbon growth momentum remains strong, driven by higher domestic demand, increased gross capital...
- A comprehensive package of policies should be implemented to respond to near-term shocks and uncertainty and to firmly address medium- and long-term challenges.
- The IMF affirmed that structural policies should continue focusing on diversifying the economies away from hydrocarbon.
Business
EU seeks critical details from Apple and Google on digital safety
Brussels, Belgium - The EU demanded on Thursday that Apple and Google provide more details on how they identified risks concerning...
- The European Commission said it wanted "more information on how" Apple and Google "have diligently identified any systemic risks concerning the App Store and Google Play"
- It also wants the companies to demonstrate that they have complied with rules on digital marketplaces and transparency about adverts in order to protect users online.
Business
Tabreed gets US$163m Green Revolving Credit Facility
ABU DHABI, UAE - Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving...
- This financing agreement, spanning five years, aligns with Tabreed's overarching sustainability strategy.
- The facility will introduce efficient cooling solutions, meeting the regional demand for sustainable innovative technologies.