Trump Tower agreement announced in Jeddah following luxury hotel deal in Oman
A Trump Tower is coming to Saudi Arabia, a regional developer announced on Monday, Al Monitor reported. Dar Global and...
Business
Intel suspends expansion of factory plan in Israel
New York, United States - Intel is halting the expansion of a major factory project in Israel, which was going to...
Business
Business
ECI, African TIA sign pact
They will strengthen trade ties and boost exports between the two markets.
- The deal follows the MoU each entity signed in March last year to enhance the global competitiveness of exporters by improving their awareness of export credit.
- Trade between the UAE and Africa has registered steady growth in recent years, with the Emirates becoming the fourth-biggest investor in Africa last year.
Economy
Aircraft orders drive US manufactured goods demand
A pick-up in aircraft orders boosted demand for big-ticket US manufactured goods in October, with numbers rising more than expected,...
- Orders for defense aircraft and parts soared 21.7 percent from September to October.
- Surging inflation in the United States and supply chain problems have proven a challenge to industry and consumers.
Geostrategy
Jordan, Egypt discuss various aspects of transportation
ALEXANDRIA, EGYPT - Jordan's Minister of Transport Maher Abu Al-Samen discussed with his Egyptian counterpart Kamel Al-Wazir ways and means...
- The talks were held on the sidelines of the Council meeting of Arab Transport Ministers in Alexandria, Egypt.
- Jordan's minister hailed the constructive meeting of Arab Transport Ministers.
Business
Lulu Group, Amazon sign agreement
They will optimize online grocery shopping for UAE customers.
- The products include everyday essentials and fresh grocery items delivered using fast-delivery options through the Amazon.ae online platform.
- Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said that such partnerships are what Abu Dhabi and the UAE continue to push for.
Business
Abu Dhabi DoH, Eversight to jointly set up UAE’s first eye, tissue bank
ABU DHABI, UAE - Abu Dhabi's Department of Health (DoH), the regulator of the healthcare sector in the Emirate, and...
- Department of Health Abu Dhabi and Eversight will focus on implementing the necessary arrangements for the eye and tissue bank.
- Eversight will develop a comprehensive medical framework to standardize and operate procedures on all clinical functions.
Business
Iraqi furniture-maker carves up stereotypes
Nour al-Janabi, 29, designs, makes and mends in her south Baghdad workshop go from rustic style to Louis XV. She...
- In oil-rich Iraq, women make up just 13.3 percent of the labour force, according to the World Bank.
- Janabi said she receives comments from women and men telling her: "You make Iraq proud and you have accomplished something."
Business
ADFD, AIIB to strengthen cooperation over sustainable economic development
Al Suwaidi welcomed AIIB’s decision to opt for Abu Dhabi as the preferred location to have its first operational office...
- Al Suwaidi welcomed AIIB’s decision to opt for Abu Dhabi as the preferred location to have its first operational office outside of China
- He and Jin Liqun discussed ways to enhance cooperation between ADFD and the bank over the Energy Transition Accelerator Financing initiative
Business
Aldar ties up with ADGMA to nurture local talent
Abu Dhabi— Aldar has partnered with the Abu Dhabi Global Market Academy (ADGMA) to develop a range of talent development...
- Since the introduction of the NAFIS program in September 2021, Aldar has hired more than 260 Emiratis across the group
- The collaboration aims to enhance both entities’ contribution towards the UAE’s knowledge-based economy and foster the next generation of business leaders in the private sector
Business
Affirma Capital seeks to exit its stake in Jordan-based Fine Hygienic Holding
Affirma is in talks with Moelis & Co. on the sale of its minority stake in the company, sources told...
- Affirma is in talks with Moelis & Co. on the sale of its minority stake in the company, sources told the agency
- The Middle East is becoming increasingly attractive to private equity players thanks to strong post-pandemic economic growth
Business
ADGM’s new service highlights how metaverse may help in mediation as underlined at TOP CEO Conference
The ADGM Arbitration Centre has launched the world’s-first service that hosts mediation in the metaverse. Interestingly, it was one of...
- The ADGM Arbitration Centre has launched the world’s-first service that hosts mediation in the metaverse. Interestingly, it was one of the focuses of Dubai event held in May
- ADGM’s “mediation in the metaverse” service will provide a more immersive experience, enhancing virtual mediation by allowing the participants to access a 3D office space.
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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
Trump Tower agreement announced in Jeddah following luxury hotel deal in Oman
A Trump Tower is coming to Saudi Arabia, a regional developer announced on Monday, Al Monitor reported. Dar Global and...
Business
Company News
Latest News
Evergrande shares begin trading
Business
Mumtalakat, Investcorp ink pact
The firms have jointly launched a climate investment platform.
Business
ACWA Power launches Phase I of green hydrogen project in Uzbekistan
Riyadh, Saudi Arabia -- Saudi renewables giant ACWA Power has said it launched the first phase of green hydrogen project...
Business
TAMM partners with AI71 to use UAE’s Falcon series LLMs
TAMM becomes first to use UAE’s Falcon large language models.
Business
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Business
Tech-empowered shoppers drive Saudi consumer behavior: PwC
Riyadh, Saudi Arabia -- Saudi Arabian consumers are navigating the market with heightened awareness, becoming better-informed buyers, according to the...
- Saudi consumers increasingly rely on smartphones and connected devices to compare prices both online and in-store.
- Brand websites are a trusted source, influencing 65% of survey participants, emphasizing the significance of the online shopping experience.
Business
Tech titan Microsoft wins observer seat at OpenAI
SAN FRANCISCO, US - Microsoft, the tech titan that has invested billions of dollars in ChatGPT creator OpenAI, has been given...
- The nomination was shared in a memo to OpenAI staff that was later posted to the company's blog.
- Microsoft will join former US Treasury Secretary and political power broker Larry Summers, who was added last week.
Business
58% of firms in Saudi Arabia plan to outsource cybersecurity
RIYADH, SAUDI ARABIA - Company bosses are boosting their cybersecurity following an alarming increase in cyberattacks, a new study commissioned...
- A survey gathered information about people who influence cybersecurity, looking at both internal staff, and external actors.
- The survey also analyzed levels and types of online safety company bosses believed warranted investment.