Telegram chief Pavel Durov arrested at French airport: officials
Paris, France - French police arrested Telegram chief executive Pavel Durov on Saturday at an airport near Paris for alleged offences...
Business
Crypto crime drops 19.6% as digital ecosystem matures
Advanced blockchain analysis tools, such as those provided by Chainalysis, are empowering law enforcement agencies and enterprises to counter the...
Economy
Business
China makes first delivery of homegrown passenger jet
The state-owned Commercial Aircraft Corp of China said at an airshow last month that it had secured orders for 300...
- Beijing hopes the C919 commercial jetliner will challenge foreign models like the Boeing 737 MAX and the Airbus A320
- The first model of the narrow-body jet, which seats 164 passengers, was formally handed over to China Eastern Airlines
Business
e& partners with Bespin Global to offer cloud managed services in METAP region
The Joint Venture will be 65 percent owned by e& enterprise and 35 percent by Bespin Global.
- The JV will be 65 percent owned by e& enterprise and 35 percent by Bespin Global
- e& enterprise will be making a primary investment of $60 million in Bespin Global
Business
Musk faces legal onslaught from angry ex-Twitter workers
The social media giant is facing a growing number of cases over the terms of terminating employees -- and even...
- Musk's disdain for working from home is also being resisted, with employees with disabilities or health concerns seeing orders to come back to the office as discriminatory
- The stack of legal cases could also force Musk to work towards a settlement, especially since his company is under huge financial stress after taking over the Twitter
Economy
UAE leads Arab world in IMD World Talent Ranking 2022
The country was ranked among the top ten in nearly 30 percent of the report’s indexes.
- The country was ranked among the top ten in nearly 30 percent of the report’s indexes
- World Talent Report is published annually by the Institute for Management Development in Lausanne, Switzerland since 2013
Business
‘Investment in sports a key part of global economy’
“Sports economies involve infrastructure, new talents, air traffic, travel, and other components,” Al Marri adds, noting that there are many...
- Investment in sports is a key part of the global economy, being one of the main pillars of the new economy, says UAE’s Minister of Economy Abdullah bin Touq Al Marri
- Sports economies involve infrastructure, new talents air traffic, travel, and other components, adds Al Marri, who is also the Chairman of Investopia
Business
Saudi Central Bank licenses debt-based crowdfunding finance firm Manafa
Riyadh, Saudi Arabia---The Saudi Central Bank (SAMA) has licensed Manafa, a finance company specialized in debt-based crowdfunding in the kingdom....
- Manafa is a closed joint-stock company with a capital of SAR 40 million.
- The license was granted to the company after a successful trial run in SAMA's Regulatory Sandbox, an experimental environment dedicated to innovative financial products, services.
Economy
Abu Dhabi Chamber inks 3 pacts to drive economic growth
ABU DHABI, UAE - As part of its participation in the first edition of the Abu Dhabi International Food Exhibition...
- The MoUs are a part of the chamber’s efforts to drive economic growth in Abu Dhabi and support investment in vital sectors.
- As part of its efforts to support start-ups and SMEs, the Abu Dhabi Chamber signed a partnership agreement with the Emirates Development Bank.
Business
Dubai records over $462 million in real estate transactions: DLD
Dubai, UAE--- Dubai real estate market recorded deals worth AED1.7 billion ($462 million) on Thursday, according to Dubai Land Department....
- The deals included 617 sales transactions worth AED1.45 billion, in addition to 85 mortgage deals of AED257.35 million, and 19 gift deals amounting to AED34.64 million.
- The sales included 532 villas and apartments worth AED1.11 billion, and 85 land plots worth AED338.47 million.
Business
Kazakhstan threatens to ban ArcelorMittal after worker death
ALMATY, KAZAKHSTAN - Kazakhstan threatened Thursday to ban global steel giant ArcelorMittal from operating in the Central Asian country after...
- ArcellorMittal, the world's second largest steel producer, operates a dozen factories and mines in this polluted industrial Kazakh region.
- Kazakhstan has in the past imposed fines on ArcelorMittal for non-compliance with ecological standards.
Geostrategy
WHO member states agree to develop draft of pandemic accord in early 2023
GENEVA, SWITZERLAND - Member states of the World Health Organisation (WHO) Thursday agreed to develop the first draft of a...
- This zero draft of the pandemic accord, rooted in the WHO Constitution, will be discussed by member states in February 2023.
- The agreement by the Intergovernmental Negotiating Body, comprising WHO’s 194 member states, was a milestone in the global process to learn from the COVID-19 pandemic.
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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
Telegram chief Pavel Durov arrested at French airport: officials
Paris, France - French police arrested Telegram chief executive Pavel Durov on Saturday at an airport near Paris for alleged offences...
Business
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Gulf Navigation posts profit
Business
UAE banks align with global sustainability standards
“The pledge made by our UBF Chairman, Abdulaziz Al Ghurair, to mobilize over AED 1 trillion in sustainable finance, represents...
Business
Saudi Electricity Company targets net zero emissions by 2050
Dubai, UAE - The Saudi Electricity Company (SEC), the largest producer, transmitter, and distributor of electrical energy in the Middle...
COP28 UAE
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COP28 UAE
Arab Coordination Group allots US$10bn to support energy transition
Dubai, UAE--The Arab Coordination Group (ACG), a strategic alliance comprising regional and international development institutions, announced at COP28 an allocation...
- The important aspects of the plan include mobilising financial resources by increasing the use of green bonds and risk mitigation tools
- The ongoing COP28 in Dubai lays emphasis on substantially ramping up climate financing and expediting the transition process
Musk’s AI startup to raise $1bn
He hopes it will compete with ChatGPT's Open AI.
- An official filing to US Securities and Exchange Commission said xAI artificial intelligence company had already gathered $134.7 million and plans to raise $1 billion overall
- The filing added that there was a firm agreement to raise the full funds needed to meet the target, indicating that Musk may have deals in place for the full billion
Business
FAB partners with Engie
They will advance solutions in financial decarbonization.
- The partnership entails both to focus on derivatives or financing solutions related to energy, carbon, renewables, battery energy storage systems, and green products
- Engie is a global leader in low-carbon energy and services, including renewables, committed to accelerate the transition towards a carbon-neutral world